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The volume of mortgage applications dipped slightly last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, was down 0.7 percent on a seasonally adjusted basis during the week ended October 9 and was 1 percent lower on an unadjusted basis. The Refinance Index slipped 0.3 percent from the previous week and was 44 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 65.6 percent of total applications from 65.4 percent the previous week. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier and 1 percent unadjusted. The Index was 24 percent higher than the same week one year ago, continuing a string of year-over-year gains that started during the week ended May 22. Refi
Housing News
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The volume of mortgage applications dipped slightly last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, was down 0.7 percent on a seasonally adjusted basis during the week ended October 9 and w... (read more)
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Rob Chrisman
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I really wanted to mix things up today so decided to send this commentary out from the other side of the dining room table this morning. Yippee! Speaking of mixing things up, usually I maintain a train of thought through my opening paragraph, putting... (read more)
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Housing News
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Mortgage delinquencies continued to rise in July according to CoreLogic's new loan performance report. The company found that 6.6 percent of all mortgages were at least 30 days past due (including those in foreclosure.) This represents a 2.8-percenta... (read more)
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Mortgage Rate Watch
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Mortgage Rates have been exceptionally calm recently. The only major exception has been the implementation, delay, and re-implementation of a new fee that affects almost all refinance transactions. The coming and going of this "adverse market fee" ha... (read more)
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Housing News
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California is taking steps to avoid a repeat of the conversion of thousands of single-family homes from ownership to rental properties as occurred during the Great Recession. In late September, the state's governor Gavin Newson signed a bill that wil... (read more)
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MBS Commentary
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Bonds Start Strong But MBS Struggle to Keep Up
Last week was clearly a defensive shift for the bond market. Yields asymptotically approached 0.79% but managed to find support at that technical ceiling.&... (read more)
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