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It was a bit of a bittersweet day for mortgage rates . On the one hand, it was the Fed's first day buying a new category of mortgage-backed bonds--one that would help pave the way for rates to move gradually lower if the broader bond market remains in reasonably strong territory. On the other hand, the broader bond market had a very bad day, thus raising questions about how much longer it will remain in reasonably strong territory. Mortgage rates have been doing a very good job of resisting the implications for higher rates seen in the broader bond market, but there's a limit to how long they can continue to hold out. If we continue having days like today in the broader bond market (i.e. 10yr Treasury yields rising more than 0.06%), mortgage rates will increasingly be compelled to move in the
Mortgage Rate Watch
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It was a bit of a bittersweet day for mortgage rates . On the one hand, it was the Fed's first day buying a new category of mortgage-backed bonds--one that would help pave the way for rates to move gradually lower if the broader bond market remains i... (read more)
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Housing News
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Pending home sales faltered a bit in Septembe r, like new home sales announced earlier this week, the decline ended a four-month winning streak. The National Association of Realtors® (NAR) said that its Pending Home Sales Index (PHSI) fell to 130... (read more)
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Rob Chrisman
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This weekend we receive an extra hour of 2020. If there was ever a reason to end the time change, this certainly is it! Markets don’t like uncertainty, and nothing about 2020 has been certain (although this morning we learned two certainties: F... (read more)
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Housing News
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The percentage of potential home buyers who perceive housing in their market as affordable increased in the third quarter, at least as reported in a recent National Association of Home Builders (NAHB) survey. NAHB's Housing Trends Report says that 27... (read more)
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Housing News
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Mortgage application volume rose slightly during the week ended October 23. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 1.7 percent on a seasonally adjusted basis from one week earlier, ... (read more)
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MBS Commentary
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Technicals And Fundamentals Join Forces to Deliver Warning For Rates
Whether we're talking about the week as a whole or simply today's trading session, bonds tried to convince us they were in good shape only ... (read more)
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