Delivered to over
70,000+ industry professionals
each day, the Daily Newsletter is the
definitive recap of the day's most
relevant mortgage and real estate news and data. View the latest Newsletter below.
View our most recent newsletter below, or use the date selector to view past newsletters.
Markets have already shown how well they understand the uniquely massive economic toll taken by coronavirus. That's why we're able to see things like 6+ million jobless claims and -700k NFP on back to back days that also happened to be the 2 least volatile days in months for Treasuries. Even so, there's something sobering about the visual impact of this reality on charts. Here are a few selections from the week ahead. In each case, the dotted red line is the consensus forecast.
For those saying consumer spending should remain strong because everyone's at home shopping online, economists disagree:
This one seems to defy logic a bit. Surely builders must be less confident than late 2018, no?
Not a report that we normally pay much attention to, but LEI drew the week's most sobering forecasts (in terms of the distance between 2008 and the consensus for this week).
Market reaction remains to be seen in each case. In general, the data is expected to get worse before it gets better. That won't even have much of a chance at changing until Jobless Claims return to the sub-500k zone. This week's forecast suggests we're not quite there (to say the least).
MBS Commentary
|
|
Markets have already shown how well they understand the uniquely massive economic toll taken by coronavirus. That's why we're able to see things like 6+ million jobless claims and -700k NFP on back to back days that also happened to be the 2 le... (read more)
|
|
Housing News
|
|
In this third article summarizing an analysis by Black Knight of the potential impacts of the COVID-19 pandemic housing the company looks at mortgage defaults and servicing. It also reviews some of the actions that have already been taken to curb pot... (read more)
|
|
Housing News
|
|
The list of things for the housing industry to worry about in the current COVID-19 emergency has been growing steadily over the last few weeks, but a memo from Ginnie Mae may have eased one of those concerns. Seth Appleton, Ginnie Mae's Principal Exe... (read more)
|
|
Rob Chrisman
|
|
It was a rough weekend. The still in our basement blew up, throwing potatoes everywhere and setting us back weeks. That happened just as I was sending someone an email how bank balance sheets can hold only so much jumbo residential production, and if... (read more)
|
|
Housing News
|
|
Millennials have lagged most of their predecessor generations in terms of their homeownership rate but when they did begin to buy, they become the fastest growing market segment. The Census Bureau says the homeownership rate for those 25 to 34 years ... (read more)
|
|
Mortgage Rate Watch
|
|
Just as the mortgage industry was coming to terms with unprecedented market volatility due to coronavirus, the details of the CARES Act (the coronavirus rescue/stimulus/relief bill) presented their own set of challenges. For some lenders and borrower... (read more)
|
|
|
|
|