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Mortgage rates were slightly higher today, on average, but some lenders were unchanged from yesterday. Others were quoting higher rates in the morning and then issued positive reprices in the afternoon (i.e. mid-day improvements), bringing them back in line with the rest of the pack. In the slightly bigger picture, rates remain closer to 4 week lows. Since Dec 8th, only yesterday was any better. 4.25% remains the most prevalent conventional 30yr fixed quote on top tier scenarios. Some of the more aggressive lenders are still down at 4.125% and a few haven't made it down from 4.375% yet. Compared to yesterday, today's movement would only be seen in the form of slightly higher upfront costs (as opposed to in the "note rate" itself). With 2 days down, 2017 is shaping up to be less threatening
Mortgage Rate Watch
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Mortgage rates were slightly higher today, on average, but some lenders were unchanged from yesterday. Others were quoting higher rates in the morning and then issued positive reprices in the afternoon (i.e. mid-day improvements), bringing them back ... (read more)
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Housing News
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We often hear that there is no such thing as a perfect crime. Perhaps that is why there is always a fraudster trying to improve them. CoreLogic says the newest wrinkle in mortgage fraud is a reverse approach to the old misrepresenting occupancy scam.... (read more)
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Rob Chrisman
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Any LO looking for opportunity should look no further than this statistic: there were 189,100 multifamily rental units completed between the fourth quarter of 2015 and the third quarter of 2016 across 54 U.S. metropolitan areas. Of those units, 84 pe... (read more)
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Housing News
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The Mortgage Bankers Association returned from its holiday hiatus today, issuing its first update on mortgage applications' activity since that for the week ended December 16. The results thus include data for the last two weeks and an adjustment to ... (read more)
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MBS Commentary
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NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerati... (read more)
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MBS Commentary
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Bonds began the new year on the defensive thanks to a deluge of corporate bond issuance as well as stronger ISM Manufacturing data. By 10:15am, 10yr yields were at their highest levels of the day, and nearly 7bps higher than last week's close... (read more)
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