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Fundamental Hope But Technical Caution
Fundamentals and technicals represent the two main schools of thought when it comes to market analysis (read more on that here). Once school is suggesting a potential bounce higher for rates while the other remains hopeful. This is a deceptively big week in terms of new information for both approaches.
Econ Data / Events
11:30-11:50 AM (ET) - Fed 30yr UMBS Buying
Market Movement Recap
08:05 AM Bonds were almost perfectly flat in very light trading overnight. Treasuries are starting the day roughly unchanged from Friday's latest levels. MBS are down an eighth. Stocks are .7% higher (S&P futures).
12:02 PM Some resilience in bonds despite additional gains in equities. Yields remain well off Friday's lows, but have now returned to 'unchanged' for the 10yr. 2.0 UMBS are down an eighth of a point at 102-18 (102.56).
03:03 PM Stocks dropped quickly at 2pm and MBS seemed to glean more of a benefit than Treasuries. UMBS 2.0 coupons briefly turned green but weren't able to maintain the gains (now down 2 ticks or 0.06 on the day).
MBS Commentary
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Fundamental Hope But Technical Caution
Fundamentals and technicals represent the two main schools of thought when it comes to market analysis (read more on that here). Once school is suggesting a p... (read more)
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Rob Chrisman
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While in captivity it is important to remember good grooming is important . Good communication is important also. Are salespeople all on the way to having two cell phones, and two phone numbers? If you haven’t heard of Gong, your boss probably ... (read more)
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Mortgage Rate Watch
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It should no longer come as a surprise that the pandemic continues to create never-before-seen circumstances in all corners of society. Here in the housing and mortgage markets, one of the first major manifestations of the crisis was a quick move to ... (read more)
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Housing News
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Credit tightening is becoming more evident according to the Mortgage Bankers Association (MBA). Its Mortgage Credit Availability Index fell to a reading of 125.0 in June, a loss of 3.3 percent . A decline in the index indicates stricter lending stand... (read more)
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Housing News
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Black Knight's weekly report on the numbers of mortgage loans in COVID-19 forbearance plans shows that a decline in those numbers of nearly a half million last week. More than 435,000 homeowners exited the plans, the largest drop yet. As of July 7, 4... (read more)
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Housing News
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A new survey by the National Association of Realtors® (NAR) has found that the vast majority of its members feel as though their businesses are back on track. NAR says, "After enduring months of setbacks brought on by the coronavirus pandemic... ... (read more)
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