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MBS RECAP: Bond Markets Cry Wolf, This Time For Real?
Fri, 02 Dec 2016 22:17:18 GMT

Posted To: MBS CommentaryLet's change up the old fairy tale. Bond markets have been cried wolf on a few recent occasions. In my version of the fairy tale, "crying wolf" is equivalent to saying "hey guys, there are no wolves around, so it's sa..[read more]

Mortgage Rates Bounce Lower Despite Jobs Report
Fri, 02 Dec 2016 21:19:00 GMT

Posted To: Mortgage Rate WatchMortgage rates erased yesterday's losses after today's jobs report, though not necessarily because of it. The Employment Situation (affectionately referred to as "the jobs") is traditionally one of the biggest sources of..[read more]

FHA Loan Limits Increased
Fri, 02 Dec 2016 14:27:52 GMT

Posted To: MND NewsWireThe Federal Housing Administration (FHA) has now joined the Federal Housing Finance Agency in raising the dollar limits for loans that qualify for FHA guarantees. Last week FHFA raised limits for Fannie Mae and Freddie Mac loan..[read more]

Agency's Future up For Grabs; Loan Amount Changes - FHA's 2017 Levels
Fri, 02 Dec 2016 14:24:08 GMT

Posted To: Pipeline PressPlenty of people are on the roads in December, traveling for the holidays. Ever curious about the basic differences between a road, a street, a boulevard, etc.? Well, here is a short, easy description . With 2018 a mere 13 mo..[read more]

MBS Day Ahead: Can NFP Help Bond Buyers Catch The Falling Knife?
Fri, 02 Dec 2016 13:12:02 GMT

Posted To: MBS CommentaryHave you heard the one about the falling knife? And how no one wants to catch it? That's one of the market's favorite analogies for the fear experienced by potential buyers of an asset whose price has fallen so rapidl..[read more]

MBS RECAP: Bonds Lose Enough to Wake Up Buyers. Then They Went Back to Bed
Thu, 01 Dec 2016 22:44:59 GMT

Posted To: MBS CommentaryBonds began the day in the throes of yesterday's ongoing momentum. There was a bit of a pause during Asian market hours, but European trading quickly pushed US rates to new 2016 highs . Unlike most of the recent selling s..[read more]

Mortgage Rates Surge Above 2-Year Highs
Thu, 01 Dec 2016 21:02:00 GMT

Posted To: Mortgage Rate WatchMortgage rates spiked abruptly today, bringing them to the highest levels in well over 2 years . The average lender is now quoting conventional 30yr fixed rates of 4.25% on top tier scenarios with more than a few already..[read more]

Residential Spending Leads Lackluster Construction Report
Thu, 01 Dec 2016 16:43:19 GMT

Posted To: MND NewsWireConstruction spending rose only slightly in October, with residential construction coming in stronger than most other sectors. The Census Bureau said overall spending during the month was at a seasonally adjusted annual rate of..[read more]

UDAAP and Title Webinars; Allied Found Guilty; Lender Rankings
Thu, 01 Dec 2016 15:00:19 GMT

Posted To: Pipeline PressNumbers can be deceiving. U.S. Housing and Urban Development (HUD) Secretary Julián Castro announced that public housing developments in the U.S. will now be required to provide a smoke-free environment f or their resi..[read more]

MBS Day Ahead: Bonds Flirt With Highest Yields Since July 2015
Thu, 01 Dec 2016 13:32:14 GMT

Posted To: MBS CommentaryBond markets begin the day still reeling from yesterday's OPEC-driven rout. We noted in yesterday's closing commentary that yields bounced on an ominous floor at at 2.35% (10yr yield). That was ominous because it has ..[read more]

MBS RECAP: OPEC Deal Blasts Bonds
Wed, 30 Nov 2016 22:18:13 GMT

Posted To: MBS CommentaryToday brought the long-awaited and hotly-anticipated conclusion of a deal among OPEC countries to limit oil production. Constricted supply has one intention: higher prices. For now, petroleum still fuels trade for the foresee..[read more]

Mortgage Rates Moderately Higher
Wed, 30 Nov 2016 21:07:00 GMT

Posted To: Mortgage Rate WatchMortgage rates rose moderately today, bringing them roughly back in line with Monday's levels. For the record, that leaves us in slightly better shape than last week, which saw the highest rates in more than a year. Toda..[read more]

Mortgage Activity Will Be Crushed By Rising Rates -Freddie Mac
Wed, 30 Nov 2016 18:35:40 GMT

Posted To: MND NewsWireInterest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "..[read more]

Will Trump's New Appointee End GSE Conservatorship?
Wed, 30 Nov 2016 18:25:59 GMT

Posted To: MND NewsWirePresident-elect Donald J. Trump may have just handed Freddie Mac and Fannie Mae a "get out of jail free" card. Trump has picked Steven Mnuchin to be Secretary of the Treasury. Among his first pronouncements to the press was tha..[read more]

Pending Home Sales Rise (Sort of) to 4-Month Highs
Wed, 30 Nov 2016 15:37:59 GMT

Posted To: MND NewsWirePending home Sales eked out a 0.1 percent gain in October. The National Association of Realtors® said its Pending Home Sales Index (PHSI) barely managed a second straight month of gains , rising to 110.0 from a downwardly r..[read more]

CFPB Appraisal News; Non-Agency MBS Update
Wed, 30 Nov 2016 15:07:37 GMT

Posted To: Pipeline PressUnderwriters’ hands are tied in using income from something the Federal Government considers illegal. For example, Washington State had nearly $212 million in marijuana sales in the second quarter of 2016, approaching t..[read more]

MBS Day Ahead: Oil Adding Fuel to Bonds' Inflationary Fire Fears
Wed, 30 Nov 2016 14:48:14 GMT

Posted To: MBS CommentaryYesterday we discussed the positive impact of month-end bond buying . The only problem with month-end buying that occurs on the day before month-end is that it can leave an imbalance of sellers on the last day of the month. T..[read more]

No Surprise: Rate Spike Torpedos Refi Apps
Wed, 30 Nov 2016 13:29:38 GMT

Posted To: MND NewsWireThanksgiving wreaked the usual holiday-related damage on the Mortgage Bankers Association's report of mortgage activity during the week ended November 25. The company's Market Composite Index, a measure of application volume, f..[read more]

MBS RECAP: Bonds Win Despite Healthy Opposition. Time to Celebrate?
Tue, 29 Nov 2016 22:33:03 GMT

Posted To: MBS CommentaryHow many ways could bond market weakness have been justified today? Shall I count the ways? GDP +3.2 vs +3.0 forecast and +2.9 previously Business Inventories only added 0.49% to the GDP total (a higher amount could serve as ..[read more]

Mortgage Rates Lowest in a Week
Tue, 29 Nov 2016 20:53:00 GMT

Posted To: Mortgage Rate WatchMortgage rate s continued lower today. While the pace of improvement was slightly slower, it was enough to get the average lender rate sheet back to levels seen last Tuesday. That makes this the first time since before t..[read more]

Freddie Mac Names eNote Vendors
Tue, 29 Nov 2016 18:50:16 GMT

Posted To: MND NewsWireFreddie Mac has certified six companies as meeting its requirements for creating, signing, and storing eNotes , i.e. electronic promissory notes. The company said it took this step to expedite and streamline the mortgage proces..[read more]

Foreclosure Starts at 12-Year Low
Tue, 29 Nov 2016 18:42:10 GMT

Posted To: MND NewsWireThe national foreclosure inventory rate, according to Black Knight Financial Services, fell below 1 percent in October for the first time since July 2007. That rate, which measures the number of mortgaged homes in the process o..[read more]

Exemption Level for Appraisals Will Remain at 2016 Level
Tue, 29 Nov 2016 15:54:38 GMT

Posted To: MND NewsWireWhile it will remain unchanged in 2017, the Consumer Financial Protection Bureau (CFPB), Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) have issued a final rule regarding future adjustments to the th..[read more]

Case-Shiller National Index at New All-Time High
Tue, 29 Nov 2016 15:16:56 GMT

Posted To: MND NewsWireIt took ten years and change, but national prices as measured by the S&P CoreLogic Case-Shiller National Index have finally surpassed the previous pre-crisis high set in July 2006. The Home Price Index, which covers all nine U...[read more]

Webinars, Conferences, and Training; Pondering Politics' Effects on Housing/Lending
Tue, 29 Nov 2016 15:11:45 GMT

Posted To: Pipeline PressFrom Louisiana comes, “I doubt that HUD will be a high priority for Trump – perhaps it will be like Ronald Reagan’s view. Remember the story that President Reagan was making his way down a line of mayors vis..[read more]

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