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At this point, no one should be surprised to hear that mortgage rates have moved significantly higher in 2021--especially in the past few weeks. There are several reasons for this, but the easiest way to make sense of it all is to say "rates were ultra low when covid was at its worst and they've been rising as covid-related risks have been receding." To be sure, there are many other contributing factors, but most of them can be linked right back to the covid narrative. Taking the big, scary rate spike as read, let's move on to wondering about what happens next . All too often in the past 2-3 weeks, there's been a glimmer of hope in the bond market (which dictates day-to-day mortgage rate changes) only for things to get even worse in short order. We've reached another one of those "glimmer of
Mortgage Rate Watch
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At this point, no one should be surprised to hear that mortgage rates have moved significantly higher in 2021--especially in the past few weeks. There are several reasons for this, but the easiest way to make sense of it all is to say "rates were ult... (read more)
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MBS Commentary
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Wednesday's 10yr Auction Could Cast a Big Vote on a Bounce
With bonds coming into the session in much stronger shape, and with yields holding underneath recent highs at 1.62% for almost 2 weeks now, it's fair... (read more)
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Rob Chrisman
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Does anyone agree on anything anymore? In the past, state trivia was fun because everyone agreed on it. No one will disagree that Alaska is the northernmost, westernmost, and easternmost state, for example. Now if I were to say, “There is only ... (read more)
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Housing News
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Last year was a record setting one when it comes to mortgage origination according to Black Knight's January Mortgage Monitor. It puts the total volume of originations during 2020 at $4.3 trillion, the highest in the company's records. Refinance orig... (read more)
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Housing News
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Fannie Mae's Home Purchase Sentiment Index (HPSI) declined slightly in February as did four of its six components. The Index, based on a sample of answers to the company's monthly National Housing Survey, dipped 1.2 points to 76.5. It is down 16 poin... (read more)
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Housing News
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A new policy paper from the Urban Institute (UI) looks at the recent amendments to the senior preferred stock purchase agreement (PSPA) agreed to by outgoing Treasury Secretary Steven Mnuchin and Mark Calabria, Director the Federal Housing Finance Ag... (read more)
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