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Two days ago, I wrote an article entitled " No, Mortgage Rates Aren't Based on 10yr Treasury Yields ." It's worth a read if you're not already up to speed on why that's a true statement. It also paves the way to understand why today's headline can be true (and in fact, it is). Mortgage rates moved LOWER today. Granted, it wasn't a huge move lower, but it's notable against the backdrop of 10yr Treasury yields that were more than 0.06% higher at one point. Much of the discussion regarding mortgages vs Treasuries centers on MBS (the mortgage-backed securities that serve as the base ingredient for mortgage rates) and the fact that they don't always move in the same direction as Treasuries. But that's only part of today's divergence . We often talk about TIMING being responsible for smaller examples
Mortgage Rate Watch
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Two days ago, I wrote an article entitled " No, Mortgage Rates Aren't Based on 10yr Treasury Yields ." It's worth a read if you're not already up to speed on why that's a true statement. It also paves the way to understand why today's headline can be... (read more)
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MBS Commentary
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Yesterday was one of the most boring trading sessions in recent memory. There were no meaningful market movers to discuss for the Treasury complex. And the only potential market movers proved to be almost meaningless. These included... (read more)
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Rob Chrisman
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Real estate agents, and lenders interested in joint ventures and “affinity programs,” are very interested in the Realogy news that the United Services Automobile Association (USAA) is discontinuing the USAA Real Estate Rewards Network, an... (read more)
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Housing News
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Pending home sales moved lower in July, declining by 2.5 percent. After two consecutive months of gains the National Association of Realtors'® (NAR's) Pending Home Sales Index (PHSI), a leading indicator of existing home sales, was expected to de... (read more)
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Housing News
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The theme of every sales and price report for the last several years has been the shortage of homes for sale. While new home inventories have held steady over the six-month supply considered a balanced market, existing homes have hovered near record ... (read more)
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Housing News
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Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account . While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of ... (read more)
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