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Mortgage rates moved lower for a 2nd straight day. This helps undo virtually all of the damage done by the first 3 days of the week. In other words, today's rates are right in line with last Friday's after having been noticeably higher for the past 4 days. There were no significant economic reports or market-moving headlines today as markets were instead focused on limiting their exposure to volatility over the upcoming 3-day weekend. On that note, keep in mind that banks and most mortgage lenders will be closed on Monday for the Presidents Day holiday. 4.25% remains the most prevalent conventional 30yr fixed rate on top tier scenarios, although a handful of lenders moved back down to 4.125% yesterday and today. Borrowers being quoted the same "note rate" as yesterday are seeing today's improvement
Mortgage Rate Watch
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Mortgage rates moved lower for a 2nd straight day. This helps undo virtually all of the damage done by the first 3 days of the week. In other words, today's rates are right in line with last Friday's after having been noticeably higher for the past 4... (read more)
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Housing News
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Fannie Mae and Freddie Mac (the GSEs) each reported positive financial results for the fourth quarter of 2016. The two have posted nearly uninterrupted quarterly profits, (Freddie Mac had a net loss of $354 million in the first quarter of 2016) since... (read more)
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Housing News
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Despite the regulations imposed by the Truth-in-Lending/RESPA Integrated Disclosure (TRID) rules and disclosure forms in October 2015, some homebuyers still say their final closing costs caught them by surprise . Some appear to have been unaware that... (read more)
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Rob Chrisman
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In lender and regulator news, SoFi (Social Finance) is reportedly close to raising $500 million in fresh funds from an investor group led by Silver Lake & SoftBank. Bloomberg reported that during an earnings call this week Blackstone Mortgage Tru... (read more)
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MBS Commentary
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For all the sturm and drang seen in the middle of the week, trading levels somehow managed to hit today's 3pm close almost perfectly in line with Monday morning's levels. As expected, Monday and Friday were relative non-events, given that nei... (read more)
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Housing News
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The National Association of Realtors ® and on-line real estate marketplace have unveiled a new housing affordability model . The model uses data on mortgages, state-level income information, and real estate listings to derive two measures of avai... (read more)
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