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Mortgage rates started stronger out of the gate, but morning weakness in bond markets prompted many lenders to adjust rates higher by early afternoon. On balance, the average lender ended the day just a hair better than yesterday's latest levels. To be clear, we're talking about microscopic differences. Note rates are the same as yesterday. The most prevalent conventional 30yr fixed quote is 4.25%, followed closely by 4.125%. The microscopic improvement refers to changes in upfront costs/credits. In the bigger picture, rates remain very close to the highest levels in more than 2 years. November proved to be one of the worst months in mortgage rate history, based on the abruptness of the move higher. The damage was primarily due to investors rapidly reassessing future growth and inflation potential
Mortgage Rate Watch
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Mortgage rates started stronger out of the gate, but morning weakness in bond markets prompted many lenders to adjust rates higher by early afternoon. On balance, the average lender ended the day just a hair better than yesterday's latest levels. To ... (read more)
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Housing News
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The Mortgage Bankers Association (MBA) reports that applications for new home purchase mortgages were down 3 percent in November compared to October. Based on results of its Builder Applications Survey conducted with mortgage subsidiaries of new home... (read more)
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Housing News
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Foreclosures in October 2016 were down by a quarter compared to the previous October and the foreclosure inventory shrank by nearly one third. CoreLogic said today that there were 30,000 completed foreclosures during the month compared to 40,000 one ... (read more)
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Rob Chrisman
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What is this, Europe? 20 weeks off for new parents at American Express? While we're on employment trends, I'm not sure if this will come as a surprise to anyone but according to a Census Bureau report the number of IT workers has increased tenfold si... (read more)
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Housing News
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Fannie Mae said new updates to its Collateral Underwriter® (CU) and Desktop Underwriter® (DU) should increase the speed and efficiency of lending and give lenders freedom from representations and warranties on property values for many loans. ... (read more)
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MBS Commentary
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There are two ways to approach today's bond market movements, and they're quintessential examples of the "glass half empty/full" expression.
Glass Half Full: bonds rallied following the 30yr bond auction. 10yr yields remain under the mos... (read more)
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freddiemac.mwnewsroom.com
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