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Mortgage rates moved back down , albeit just slightly, into last week's range. They'd risen for 2 straight days by Friday, and today's improvement leaves them closer to Wednesday's levels. That assessment requires a bit of clarification, however. Rate movement can refer to changes in the actual interest rate that determines the monthly payment amount of a mortgage. But there are other upfront fees and credits that affect the overall cost of financing. For example, if you are being quoted a lower rate than anyone else, but have to pay thousands of dollars to get that rate, you might not be saving any money over time. Changes in those upfront costs happen far more readily than changes in the actual interest rates (technically referred to as "note rates"). Today was definitely not big enough to
Mortgage Rate Watch
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Mortgage rates moved back down , albeit just slightly, into last week's range. They'd risen for 2 straight days by Friday, and today's improvement leaves them closer to Wednesday's levels. That assessment requires a bit of clarification, however. Rat... (read more)
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Housing News
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Remember the Equifax data breach? Maybe not, because it came hard on the heels of the Target data breach, and the one at Home Depot, and so on and on. In this case you might get something more out of it than aggravation, but only if you take about tw... (read more)
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Rob Chrisman
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As the residential lending industry continues to buzz about the CFPB addressing the definition of a Qualified Mortgage , with proponents hoping that the ATR rules are better detailed, people who believe that climate change is a hoax are no doubt puzz... (read more)
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Housing News
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The Consumer Financial Protection Bureau (CFPB) has issued an Advance Notice of Proposed Rulemaking (ANPR) regarding the expiration of the so-called GSE Patch. The provision is scheduled to expire no later than January 10, 2021. As background, the Do... (read more)
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Housing News
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The U.S. homeownership rate in the second quarter dipped slightly from its level in both the first quarter of this year and one year earlier, but at 64.1 percent the Census Bureau said it was statistically unchanged. The rate hit a low of 62.9 in the... (read more)
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MBS Commentary
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If you recall the analysis from a few days ago that called attention to the lowest daily trading volumes in Treasury futures in months, it's worth noting that today's were just a hair lower. Once that's understood, there's little sense in putti... (read more)
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