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Secretary of Housing and Urban Development (HUD) nominee Ben Carson said at his confirmation hearing, "Certainly, if confirmed, I am going to work with the FHA administrator and other financial experts to really examine that policy." He was talking about an earlier announcement from the current HUD head that FHA insurance rates were going to be cut. On January 12, when Carson made that remark, most everyone viewed it as a throw-away line . Now not so much. As background, on January 9, current HUD Secretary Julian Castro announced a 25-basis point cut in the annual premium charged for FHA insurance. The reduction, scheduled to go into effect on January 27 , would return FHA annual premiums almost back to where they were before a crisis in the FHA insurance fund caused substantial hikes in both
Housing News
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Secretary of Housing and Urban Development (HUD) nominee Ben Carson said at his confirmation hearing, "Certainly, if confirmed, I am going to work with the FHA administrator and other financial experts to really examine that policy." He was talking a... (read more)
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Mortgage Rate Watch
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Freddie Mac's weekly mortgage rate survey came out this morning showing the lowest rates in 3 weeks (don't get excited). This happens due to the survey's methodology, which unfortunately relies on Monday/Tuesday rates almost exclusively. With lenders... (read more)
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Rob Chrisman
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How has housing changed in the last 100 years? It’s easy to see when a “vertical flight” is put together, and Trulia posted current listings that were built in every decade that are pretty interesting to skim through and look at sty... (read more)
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Housing News
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Housing starts continued their see-saw pattern in December, rising 11.3 percent from November when they had fallen significantly after a sensational October. The increase this time, however, was due solely to a surge in multi-family construction. Mea... (read more)
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MBS Commentary
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When it comes to defining the recent range, there are several candidates for the upper and lower boundaries. When 10yr yields were under 2.40%, that was the best boundary to watch. A break over 2.40% suggested 2.42% was the next line of d... (read more)
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MBS Commentary
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After flirting with a break of the lower end of 2017's sideways range yesterday, bond traders clearly decided " now's not the time. " There's precious little to hang one's hat on when it comes to justifying overnight weakness any other way... (read more)
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