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Mortgage rates moved higher today after spending several recent days in line with the lowest levels in more than a month. Underlying bond markets have been taking their biggest cues from geopolitical developments surrounding US/Iran tensions. Those came to a head last night after Iran attacked two air bases in Iraq where US troops are stationed. The average opinion shared on the internet or TV news suggested a likelihood that this meant war. War would be good for rates and bad for stocks. Markets reacted accordingly--at least for a few hours. Things changed when we learned Trump would not address the nation until the morning and that there were no US casualties (seen as the deciding factor in US military retaliation). In today's speech, Trump effectively deescalated the situation and communications
Mortgage Rate Watch
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Mortgage rates moved higher today after spending several recent days in line with the lowest levels in more than a month. Underlying bond markets have been taking their biggest cues from geopolitical developments surrounding US/Iran tensions. Those c... (read more)
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Housing News
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The pace of home price increases picked up in November, increasing by 3.7 percent on a year-over-year basis, up from 3.5 percent in October . CoreLogic said its Home Price Index (HPI) posted a monthly gain of 0.5 percent, a substantial uptick from th... (read more)
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Rob Chrisman
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Hey, I want to buy my own house without the “nuisances” of a large down payment, difficult credit standards, massive debt, or long-term commitments. Out of California comes Fleq , which tells me that I can do exactly that. All I have to d... (read more)
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Housing News
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Fannie Mae's Home Purchase Sentiment Index (HPSI) finished out the year with little change from November to December, but with a strong increase over the December 2018 version. Three HPSI components were up in December but those gains were offset by ... (read more)
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Housing News
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The Mortgage Banker Association's (MBA's) offices were closed over the two-week holiday period. The data in this week's report on mortgage applications activity is compared with that from the last published report covering the week ended December 20.... (read more)
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MBS Commentary
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Top and bottom line: war is good for bonds/rates. The risk of war had increased after last week's US attack on the Iranian general and flared further overnight after the Iranian attack on air bases in Baghdad. By not inflicting an... (read more)
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