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After falling moderately to start the week, mortgage rates put in a calmer performance on Tuesday. As we discussed yesterday, volatility in the bond market results in lenders making changes to their mortgage rate offerings. Sometimes the volatility is big enough that those changes occur intraday despite lenders generally preferring to set rates only one time on any given day. With that in mind, the ingredients are in place for more change tomorrow . Reason being: late day tweets from Trump threatened to withhold stimulus until after the election. Markets entered a logical tailspin resulting in significant stock losses and improvements for bonds. To reiterate yesterday's conversation, these sorts of bond market improvements typically result in lower rates. The catch is that the tweets were late
Mortgage Rate Watch
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After falling moderately to start the week, mortgage rates put in a calmer performance on Tuesday. As we discussed yesterday, volatility in the bond market results in lenders making changes to their mortgage rate offerings. Sometimes the volatility i... (read more)
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Rob Chrisman
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You have a couple workdays under your belt this week, so let’s take a one paragraph break from mortgage stuff. Pumpkin patches are here, and every parent worth their salt tells kids that unpurchased pumpkins grow into Christmas trees in two mon... (read more)
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Housing News
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The Mortgage Bankers Association (MBA) said the volume of purchase mortgage applications declined for a second week but refinancing more than recovered from last week's 7 percent loss. MBA's Market Composite Index, a measure of mortgage loan applicat... (read more)
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Housing News
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The Urban Institute (UI) estimates that there are about 400,000 homeowners who have become "needlessly delinquent" as a result of the COVID-19 pandemic. UI analysts Michael Neal and Linda Goodman credit the Coronavirus Aid, Relief, and Economic Secur... (read more)
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Housing News
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Entry-level priced homes, which continue to be in short supply, are, helping to drive strong price gains. CoreLogic says home prices nationwide, including distressed sales, increased year over year by 5.5 percent in July 2020 and were up 1.2 percent ... (read more)
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MBS Commentary
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Dashed Hopes For Bond Bounce After Trump Tweet Reversal
Tuesday was going poorly for bonds until a Trump Tweet threatening to withhold stimulus until after the election sent markets into a tailspin. Hou... (read more)
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