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Mortgage rates got off to a slow start yesterday. It was hard to object considering that left the average lender in line with record lows. But today was a bit different. While most lenders were little-changed at first, many ultimately raised rates during the day in response to deterioration in the bond market. The notion of "raising rates" is relative, in this case. The average prospective mortgage borrower wouldn't think much of the mid-day increases. In fact , they would likely be seeing the same rate quote as yesterday with only a slight increase to upfront costs (or a decrease to lender credit). This is typically the case for mortgages. It takes some serious drama in the bond market for rates to move in an alarming way, and that sort of drama has been in short supply for months. If there
Mortgage Rate Watch
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Mortgage rates got off to a slow start yesterday. It was hard to object considering that left the average lender in line with record lows. But today was a bit different. While most lenders were little-changed at first, many ultimately raised rates du... (read more)
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Rob Chrisman
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2021: Fifty years since the release of Led Zeppelin 4 (think Stairway to Heaven). In 1971 there were 208 million people living in the United States. Now there are approximately 330 million of us. The U.S. Census Bureau released its once-a-decade Popu... (read more)
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Housing News
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Total spending on construction projects in the U.S. rose 0.9 percent in November compared to October. The U.S. Census Bureau estimated that the seasonally adjusted annual spending on all types of construction was $1.459 trillion during the month comp... (read more)
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Housing News
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The number of loans in COVID-19 forbearance plans last week rose for the third consecutive week during the period ended December 29. Black Knight said a 15,000-loan increase in the number of forborne loans brought the total to its highest level since... (read more)
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Housing News
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Home prices rose another 1.1 percent in November according to the CoreLogic report on its Home Price Index. The year-over-year gain was 8.2 percent , accelerating from the annual increase of 7.3 percent posted for October. The company said that home ... (read more)
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MBS Commentary
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Tomorrow Could Be a Very Big Day For Bonds
Bonds experienced a bit of weakness today, but 10yr yields bounced almost perfectly at the range ceiling of .96%. That means they made it all the way from Nove... (read more)
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