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In the past 2 decades , there have been 6 months where mortgage rates rose at least 50 basis points. February 2021 was one of them. Moreover, it was one of only 2 of those months where rates rose without obvious provocation from a significant new, unexpected motivation (the last time that happened was December 2010. The other months were associated with 2013's taper tantrum, the 2016 presidential election, and the market dislocations in March 2020 as covid panic surged). In other words, it was a really bad month for rates--so bad, in fact, that it has increasingly made sense to look for some relief simply because things don't tend to stay that bad for that long. Of course, if there's an exception to how rapidly rates "usually" spike, it has every right to occur after rates have spent an unusually
In the past 2 decades , there have been 6 months where mortgage rates rose at least 50 basis points. February 2021 was one of them. Moreover, it was one of only 2 of those months where rates rose without obvious provocation from a significant new, un... (read more)
MBS Outperform, But Bonds Fail To Confirm The Bounce
Tuesday's gains increased odds that a friendly bounce was in the works, but overnight and AM weakness put an end to the optimism. Frustratingly, ther... (read more)
Mortgage application volume rose for the first time in four weeks during the week ended February 26, but it was only a marginal increase. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application v... (read more)
What happens to homeowners and landlords when the federal, state, and local protections put in place during the pandemic go away? The Consumer Financial Protection Bureau (CFPB) is warning that the answer is hanging in the balance. Moratoria on forec... (read more)
CoreLogic says home prices in January were 10 percent higher than a year earlier. It was the first double digit increase in the company's Home Price Index (HPI) since November 2013 . The company had reported a 9.2 percent annual increase in December.... (read more)
To listen to the audio version of today’s commentary with an interview with STRATMOR Group’s resident recovering accountant Jim Cameron on handy metrics for MLOs to be aware of, please click here . Income and revenue are certainly metrics... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.