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MBS RECAP: Bonds Catch a Break Heading into Quarter-End and NFP Week
Fri, 27 Mar 2015 20:55:31 GMT

Posted To: MBS CommentaryIt's that time again. Or, at least it will be next Friday. After 2 months in a row of painful NFP reactions in bond markets, the big jobs report is back again. The Fed has probably done some work toward decoupling rate-hi..[read more]

Mortgage Rates Hold Ground As Markets Take a Breather
Fri, 27 Mar 2015 20:21:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had one of their least exciting days of the week today, moving just modestly lower from yesterday's latest levels. The trading range in underlying markets was exceptionally narrow, especially when compared..[read more]

Affordability Falling as Permits Lag Growth
Fri, 27 Mar 2015 18:48:59 GMT

Posted To: MND NewsWireThe old maxim that a household rents only until it can afford to buy a home is apparently being stood on its head in a lot of housing markets. A study published on Friday by Zillow says that "rental affordability is as bad as i..[read more]

MBS MID-DAY: Bonds Taking a Break from Volatility, Especially MBS
Fri, 27 Mar 2015 17:05:09 GMT

Posted To: MBS CommentaryWith the exception of only a few trades during a few minutes, Fannie 3.0 MBS prices have remained in a range of 101-28 to 101-29 this morning. That's super narrow! It's already resulting in a few "stability reprices" ..[read more]

More Agency Updates; Why Bank M&A is Expected to Continue in 2015
Fri, 27 Mar 2015 14:35:50 GMT

Posted To: Pipeline PressI love it when I receive an e-mail warning me, "You've had unusual and suspicious activity on your American Express Card." I don't have an American Express Card. Think your IT's security is up to speed? Think again - this e-m..[read more]

MBS Day Ahead: Is Today's GDP Reading Important?
Fri, 27 Mar 2015 11:34:00 GMT

Posted To: MBS CommentaryThere's been a lot of talk about GDP recently, but it's important to keep in mind that most of it has to do revised GDP estimates for the first quarter of 2015 due to some recently weak economic data. The thing being reported..[read more]

MBS RECAP: Another Day With Multiple Negative Reprices
Thu, 26 Mar 2015 20:51:38 GMT

Posted To: MBS CommentaryEver since bond markets failed to respond positively to yesterday morning's exceptionally weak Durable Goods report, things have been almost exclusively negative . That anomaly provided a clue that has since been convinci..[read more]

Mortgage Rates Increase Rapidly
Thu, 26 Mar 2015 19:51:00 GMT

Posted To: Mortgage Rate WatchMortgage rates rose rapidly today, almost completely erasing the improvement following last week's Fed Announcement. This is especially ironic considering most major media outlets are running Freddie Mac's weekly mortgag..[read more]

Monumental Shift Toward Non-Bank Servicing. Does it Matter?
Thu, 26 Mar 2015 16:28:29 GMT

Posted To: MND NewsWireIn the past five years there has been a monumental shift in mortgage loan servicing. Bank servicing subsidiaries, which once dominated in the market, no longer even constitute a majority of companies servicing Ginnie Mae mortga..[read more]

Home Price Plateau Possible in Areas Where Wages Can't Keep Up
Thu, 26 Mar 2015 16:13:01 GMT

Posted To: MND NewsWireWhile a study released on Thursday by RealtyTrac shows a huge discrepancy between the growth in home prices and increasing wages, it appears that housing in most of the country remains affordable. The California company looked ..[read more]

MBS MID-DAY: Bond Buyers on Strike for 2nd Straight Day
Thu, 26 Mar 2015 16:02:00 GMT

Posted To: MBS CommentaryIt's been a strange week for domestic bond markets so far. Just 2 short days ago, bonds were rallying with a seeming disregard for negative cues from related markets and data. Now, as of yesterday, the opposite is true as..[read more]

Agency Changes; Self-Employed Borrowers; Wells Layoffs; Training and Events
Thu, 26 Mar 2015 14:20:07 GMT

Posted To: Pipeline Press"ADT Security left a business card in my door. Their marketing would be much more effective if I found it inside my house." As I continue my time at the MBA and STRATMOR Peer Group Roundtables, learning what is effective, the..[read more]

MBS Day Ahead: Cause for Concern, but Nowhere Near Abandoning Hope
Thu, 26 Mar 2015 11:24:24 GMT

Posted To: MBS CommentaryWill the Fed raise rates? Is economic data sliding? Are stocks and bonds more interested in trading the rate hike or the data? All of these were fair questions yesterday and all could be argued either way. There is a camp tha..[read more]

MBS RECAP: Bond Markets Relatively Blindsided by Snowball Sell-Off
Wed, 25 Mar 2015 21:41:07 GMT

Posted To: MBS CommentaryIt began as just another day in a 12-day winning streak for bond markets that had seen 10yr yields recover 40bps peak to trough. Actually, "just another day" doesn't really apply to that scenario. We're lucky to see i..[read more]

Mortgage Rates Bounce Higher From Recent Lows
Wed, 25 Mar 2015 19:23:00 GMT

Posted To: Mortgage Rate WatchMortgage rates finally moved noticeably higher today, something they haven't done on 11 out of the last 12 days. Yesterday, I pointed out that such a winning streak is not the sort of thing we see too often, and that a s..[read more]

Seasonal Stumble in Housing Market -Freddie Mac
Wed, 25 Mar 2015 18:45:46 GMT

Posted To: MND NewsWireFreddie Mac said today that housing market stability "stumbled a bit" due to the cold winter weather and softening economic growth. The company's Multi-Indicator Market Index (MiMi) declined slightly in January a decline descri..[read more]

MBS MID-DAY: Holding Slightly Weaker Levels Ahead of 5yr Auction
Wed, 25 Mar 2015 16:14:05 GMT

Posted To: MBS CommentaryToday's trading has offered an interesting development or two. The first was the reaction to the Durable Goods data. It was significantly weaker than expected at -1.4 vs a +0.4 forecast. While this report is historically ..[read more]

Ocwen's Slide Update; Investor and Agency Updates Including Freddie's 97% Program
Wed, 25 Mar 2015 14:02:55 GMT

Posted To: Pipeline PressDon't think the gap between the haves and have-nots is widening? USA Today reports the world's richest 1% of people control over 50% of total global wealth. At the other end of the scale, here in the States research by Epiq S..[read more]

Mortgage Apps Rise at Fastest Pace in 2 Months
Wed, 25 Mar 2015 13:09:39 GMT

Posted To: MND NewsWireStoked by the lowest interest rates in several weeks the volume of applications for mortgages to both purchase and refinance homes increased by the largest percentages during the week ended March 20 than at any time since early..[read more]

MBS Day Ahead: Positive Technical Developments Now Need Confirmation
Wed, 25 Mar 2015 11:34:30 GMT

Posted To: MBS CommentaryYesterday morning, we discussed the fact that bond markets needed to make additional gains beyond recent technical floors, or risk sending the signal that they'd bounce higher (in rate). This was accomplished in relativel..[read more]

MBS RECAP: 2 Months of NFP Losses Nearly Erased
Tue, 24 Mar 2015 20:13:28 GMT

Posted To: MBS CommentaryWhile mileage may vary depending on the lender, many are getting close to levels not seen since Thursday Feb 5th, a day before the NFP report that kicked February's selling trend into high gear. That would go on to receiv..[read more]

Mortgage Rates Falling Toward Mid 3 Percent Range
Tue, 24 Mar 2015 19:14:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell again today , extending an exceptionally strong 2+ week move back to lower levels after an exceptionally weak 5 week move to 2015 highs. The previous trend topped out after the big jobs report release..[read more]

Fed Paper asks if we are "Mortgaging the Future?"
Tue, 24 Mar 2015 17:40:28 GMT

Posted To: MND NewsWireThree economists writing for the Federal Reserve Bank of San Francisco's Economic Letter , are theorizing that the explosion of lending, especially mortgage lending, has played a more important role in shaping the business cycl..[read more]

MBS MID-DAY: Another Calm Morning; MBS Outperforming Treasuries
Tue, 24 Mar 2015 16:17:13 GMT

Posted To: MBS CommentaryA frequent topic of interest over the past few years--and especially recently--is the trickle down effect from European bond markets to mortgage rates. Treasuries typically react more to whatever is going on in Europe, and MB..[read more]

New Home Sales Soar in Snow-bound Northeast
Tue, 24 Mar 2015 15:13:19 GMT

Posted To: MND NewsWireNew home sales rose on a seasonally adjusted annual basis in February, partially because of a near tripling of sales in the Northeast . Nationally sales of newly constructed single-family homes were up 7.8 percent from January ..[read more]

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