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Volatility has returned to the mortgage market in grand fashion this week with many lenders quoting rates that are as much as a quarter of a point higher than they were last week. That means if you were looking at something in the 2.75% neighborhood on Friday, it could be 3.0% today. What gives? The upward pressure is nothing new , really. It has existed in the broader bond market since August, but only recently began spilling over to the mortgage market. We've been discussing the increased risks of such a spillover in the event of a sharper bond market move and yesterday brought just such a move. Today was much more docile by comparison, but it didn't do anything heroic to push back against yesterday's weakness. Still, there could be some promise of stability in the fact that the bond market
Mortgage Rate Watch
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Volatility has returned to the mortgage market in grand fashion this week with many lenders quoting rates that are as much as a quarter of a point higher than they were last week. That means if you were looking at something in the 2.75% neighborhood ... (read more)
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Housing News
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The volume of mortgage applications declined again last week, the fourth loss out of the six full weeks since the year began . The Mortgage Bankers Association (MBA says that its Market Composite Index, a measure of application volume, has lost an ag... (read more)
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MBS Commentary
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Looking For Silver Linings Despite Falling Sky
After a huge day of snowball selling yesterday, bonds started out in weaker territory today. Hugely strong Retail Sales data and sharply higher inflation t... (read more)
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Housing News
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After dropping from record high levels by a total of 7 points over the last two months, the index that measures home builder confidence has stabilized. The Housing Market Index (HMI), produced by the National Association of Home Builders (NAHB) and W... (read more)
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Rob Chrisman
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Time flies. President Biden extended FHA & VA mortgage relief and the ban on home foreclosures through June . Did you know that, at 46, Leonardo DiCaprio is now the same age as Steve Martin was when Steve made “Father of the Bride?” (... (read more)
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Housing News
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The White House announced on Tuesday that the various COVID-19 relief programs available through The Department of Housing and Urban Development, Veterans Administration, and the Department of Agriculture will be extended. The forbearance program, wh... (read more)
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