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Mortgage rates were unchanged to slightly lower today, bringing the average lender right in line with all-time lows . Averages aside, several lenders are slightly higher than they were on Friday. Either way, the movement was minimal over the weekend. Beyond that, no conversation about all-time low rates would be complete without several of these recently relevant caveats: 1. Different borrowers will see different pricing. This sort of goes without saying, but it's much more pronounced than it has been before coronavirus. Specifically, we're talking about the big differences in mortgage rate quotes for borrowers with certain combinations of risk factors. These include things like investment properties, cash-out, higher loan-to-value ratios, and the like. The all-time low rates seen in 2012
Mortgage Rate Watch
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Mortgage rates were unchanged to slightly lower today, bringing the average lender right in line with all-time lows . Averages aside, several lenders are slightly higher than they were on Friday. Either way, the movement was minimal over the weekend.... (read more)
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Rob Chrisman
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Some days you don’t learn much, other days you learn a lot (skip the ad). We’ve learned that COVID is driving our economy, not fundamental economic news, and at this point virologists have better forecasts than economists. Appearing with ... (read more)
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Housing News
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Home prices continued to hold up on a national basis in April. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, reported a 4.7 percent annual gain in April, up from 4.6 percent in March. The ... (read more)
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Housing News
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Lawrence Yun, chief economist for the National Association of Realtors® (NAR), predicted last month that April's home sales contract activity "will be the lowest point for pending sales." That turns out to have been a huge understatement--at leas... (read more)
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Housing News
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The Supreme Court, in a 5-4 decision along partisan lines, took a chunk out of the intentions the Dodd-Frank Act had for the Consumer Financial Protection Bureau (CFPB) when it created it. The court ruled that the single-director structure of the age... (read more)
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MBS Commentary
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Surprisingly Quiet Quarter-End Trading. No Objections Here
The last trading day of any given month (especially if it's also the end of a quarter) can often see elevated volatility without any obvious motivat... (read more)
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