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Mortgage rates fell today, but by how much depends on the lender! This runs contrary to the average news story which contains some reference to rates being flat week-over-week (due to Freddie Mac's weekly rate survey data, which unfortunately doesn't account for big market movement on Thursdays and Fridays). There was a better case to be made for such things yesterday as the Fed drew a mixed reaction from the bonds that underlie mortgages. If you didn't catch it, yesterday's article is highly recommended for those who want to understand why the Fed rate cut had no effect on mortgage rates. HERE IT IS . One of the takeaways in that article is that rates would be dependent on economic data and developments, and that there were a few big-ticket items left this week. One of those was today's ISM
Mortgage Rate Watch
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Mortgage rates fell today, but by how much depends on the lender! This runs contrary to the average news story which contains some reference to rates being flat week-over-week (due to Freddie Mac's weekly rate survey data, which unfortunately doesn't... (read more)
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Housing News
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Several weeks ago we summarized CoreLogic's first cut at quantifying the potential effects of the planned expiration of the Consumer Financial Protection Bureau's (CFPB's) Qualified Mortgage "GSE Patch." In his blog article, CoreLogic's Pete Carroll ... (read more)
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MBS Commentary
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In the day just passed, bonds successfully stormed the castle, assuming the castle refers to 10yr yields with a "1" in front. At first inspiration came from follow-through trading of Wednesday's Fed events coupled with weak economic data at 10a... (read more)
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Housing News
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Construction spending in June missed matching the May level by 1.3 percent. Total spending by both public and private sources was at a seasonally adjusted annual rate of $1.287 trillion compared to that in May at the rate of $1.303 trillion. June's c... (read more)
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Housing News
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Both of the government sponsored enterprises (GSEs) released second-quarter financial results this week. Each had, to varying degrees, better outcomes than in the first quarter of this year, but substantial losses compared to one year earlier. Freddi... (read more)
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Rob Chrisman
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Well, we sailed through another perfectly good month, and many lenders had a superb July funding month. And there is great optimism about August’s numbers as well. Veterans, however, are watching locks to see how September is going to shape up.... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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