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Mortgage rates were very slightly higher today after being modestly lower over the weekend, but in general, remain very close to the lowest levels in more than 3 years. They weren't too much higher than current levels even before the coronavirus outbreak took center stage, but the virus definitely deserves credit for the extra downward momentum in recent weeks. Given that Chinese equities markets are already indicating the financial market psyche has shifted, it may only be a matter of time before US bond markets (which dictate mortgage rates) follow suit. That's not to say that bonds must follow stocks. If that were the case, we wouldn't see bond yields close to all-time lows while stocks are at all-time highs. Rather, it's simply a comment on the fact that Chinese equities serve as a good
Mortgage Rate Watch
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Mortgage rates were very slightly higher today after being modestly lower over the weekend, but in general, remain very close to the lowest levels in more than 3 years. They weren't too much higher than current levels even before the coronavirus outb... (read more)
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Housing News
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Renters questions in a new Freddie Mac survey expressed a rather unfortunate misconception . In its new Profile of Today's Renter and Owner , the company said it found that "An unprecedented number of renters believe renting is more affordable than o... (read more)
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Housing News
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It seems as though legalized marijuana is said to be good for almost everything. Now a new study from the National Association of Realtors (NAR) has added real estate to the list. The impact is clearer when it comes to commercial properties, but agen... (read more)
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MBS Commentary
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Amid a dearth of important economic data between now and Friday, the bond market doesn't have much to do when it comes to pricing in bigger-picture economic fundamentals. Even then, the word around the campfire is that traders are planning on g... (read more)
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Rob Chrisman
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In 1988, there was only one city in America where the average home price was over six times the annual median income. Today there are more than twenty. Experts think that hat number will only increase as home values continue upward in the nation's la... (read more)
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Housing News
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Last Friday's January Employment Situation report from the Bureau of Labor Statistics was a good one; total payroll employment increased by 225,000, but probably no one was happier about it than the National Association of Home Builders (NAHB). The r... (read more)
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