Mortgage News Daily

Mortgage News Daily

MBS RECAP: Bonds Back at Range Boundary

By Matthew Graham Posted To: MBS Commentary After holding the same sideways range since June 27th, 10yr Treasury yields finally knocked on the 2.88+ ceiling for the 2nd time (the previous attempt being July 3rd). But that’s about as exciting as I can make today sound. The overall move higher in yields was less than 2bps, and volume was exceptionally …

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Mortgage Rates Flat Again, Despite Modest Market Weakness

By Matthew Graham Posted To: Mortgage Rate Watch Mortgage rates were flat again today, further prolonging a trend that’s been in place for weeks. During that time, we’ve seen modest ups and downs, but no significant changes. To put the narrowness of the range in context, the “ups and downs” are only seen in the upfront costs associated with any …

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Millennial Homeownership Headwinds Worrisome for Future

By Jann Swanson Posted To: MND NewsWire It is the largest generation in U.S. history and Millennials may also set a record as the one whose behaviors have been most heavily researched. Despite the hours of study and pails of ink, the direction the generation’s members will ultimately take in their lives still has the nation a bit flummoxed. This …

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Housing Permits Soften, Starts Plummet

By Jann Swanson Posted To: MND NewsWire All three measures of residential construction activity performed poorly in June , and the two most closely watched numbers, construction permits and housing starts, fell short of their June 2017 numbers. Despite the monthly and year-over-year declines, the U.S. Census Bureau and the Department of Housing and Urban Development report that activity in …

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Pricing, Efficiency, and Operations Products; California DRE Changes

By Rob Chrisman Posted To: Pipeline Press “Your loan officer should be given the opportunity to succeed elsewhere.” Ever heard a CEO recommend that to a branch manager regarding a poorly performing LO? Here in San Francisco, at the Western Secondary Conference, the talk is focused on secondary marketing and Fannie’s lower estimate of 2018’s volumes ($1.69 trillion). But LO …

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Mortgage Applications: Decline in Purchases Offset by Refinance Gains.

By Jann Swanson Posted To: MND NewsWire Refinancing made a tiny bit of a comeback during the week ended July 13. Both the Refinancing Index, a component of the Mortgage Bankers Associations (MBAs) Market Composite Index, and the share of applications that were for refinancing regained some ground after retreating during the previous three weeks. The overall Composite Index, a …

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MBS RECAP: Limited Reaction to Powell Testimony; Stocks

By Matthew Graham Posted To: MBS Commentary Fed Chair Powell fielded questions from the Senate Banking Committee today as a part of the 2-day semi-annual congressional testimony often referred to as the Humphrey Hawkins address. These testimonies have plenty of street cred based on past examples where they’ve caused big market movements. The difference between then and now is that …

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