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Mortgage rates were mixed today, depending on the lender. The underlying bond market (which dictates day to day changes in rates) has been more volatile in the past 48 hours compared to the past 4 weeks. Mortgage lenders respond to this volatility in different ways. It's those differences that account for higher rates for some lenders and lower rates for others. But those differences are only in day-over-day terms. In other words, one lender might be higher in rate compared to yesterday only because they didn't respond to yesterday's market volatility in a timely way. Specifically, lenders have a choice as to whether or not they will adjust their mortgage rate offerings based on market conditions. Some are jumpier than others. Quite a few lenders increased rates in the middle of the day (yesterday
Rob Chrisman
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We’re finally in October, which means one thing is certain: that all the cobwebs and dust in my house just became Halloween decorations. Markets don’t like uncertainty, but something else is certain: we’re in the month before the el... (read more)
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Mortgage Rate Watch
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Mortgage rates were mixed today, depending on the lender. The underlying bond market (which dictates day to day changes in rates) has been more volatile in the past 48 hours compared to the past 4 weeks. Mortgage lenders respond to this volatility in... (read more)
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Housing News
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The number of active COVID-19 related forbearance plans grew over the past week according to Black Knight's most recent survey on the subject. The number of mortgages in forbearance rose by 21,000, the first increase in six weeks. Forbearances among ... (read more)
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MBS Commentary
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MBS Outperformance is Actually Helping Rates
Overnight news of Trump's covid diagnosis caused some volatility in markets that was poised to help the bond market today, but upbeat headlines on fiscal stimulus ... (read more)
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Housing News
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Construction spending expanded again , with residential construction among the healthier sectors. The U.S. Census Bureau put total August public and private construction spending at a seasonally adjusted annual rate of $1.413 trillion compared to $1.... (read more)
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Housing News
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Contracts for existing home purchases rose for the fourth straight month in August and more than doubled the increase expected by most analysts. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) rose from 122.1 ... (read more)
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