Tuesday , 13 November 2018

Mortgage News Daily

Mortgage News Daily

Homes Sales and Prices in California May Have Hit an Affordability Tipping Point

By Jann Swanson Posted To: MND NewsWire It may be that California, where home prices have exploded over the last few years, has jumped the shark when it comes to affordability. CoreLogic’s Andrew LePage writes in the company’s Insights blog that September home sales in the state were the lowest in the country since September2007. The sales report comes in …

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Non-QM and Construction Products; Training and Events Nationwide and at Home

By Rob Chrisman Posted To: Pipeline Press People vote with their feet. Some population movements are dramatic and garner headlines around the world, others not so much. “About 130,000 more residents left California for other states last year than came here from them…” according to a Sacramento Bee review of the latest census estimates. “They most often went to cheaper, …

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MBS Day Ahead: Bonds Begin Week With Some Optimism

By Matthew Graham Posted To: MBS Commentary As of last Thursday, it didn’t look like traders were much interested in hearing arguments in favor of bonds. Then, an unexpectedly healthy little rally on Friday kept hope alive going into the 3-day weekend. Now this morning, the week begins with yields a few bps lower still. 10yr yields begin the week …

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MBS RECAP: Bonds Overcome Producer Inflation But Not The Range

By Matthew Graham Posted To: MBS Commentary Interesting day today… It began with a decent overnight rally, mostly led by European bond markets. The first big speed-bump came at 8:30am with the Producer Price Index coming in much hotter than expected. Normally, PPI isn’t much of a market mover except in the case of BIG beats/misses. This one fit the …

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Mortgage Rates Steady Ahead of Holiday Weekend

By Matthew Graham Posted To: Mortgage Rate Watch Mortgage rates were mixed today, depending on the lender. Most lenders began the day in slightly worse shape compared to yesterday. Bond markets improved enough by mid-day that many lenders were able to offer positive reprices (new, better rate sheets). Lenders typically don’t change mortgage rates more than once a day unless …

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Delinquency Recovery Interrupted by Natural Disasters

By Jann Swanson Posted To: MND NewsWire The ongoing improvement in mortgage performance hit a slight snag in the third quarter of 2018, one that appears to be disaster related. The Mortgage Bankers Association (MBA) said the National Delinquency Survey found the national delinquency rate grew by 11 basis points (bps) from the second quarter to 4.47 percent. This was, …

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MBS Day Ahead: Not Expecting Fireworks Ahead of 3-Day Weekend

By Matthew Graham Posted To: MBS Commentary Between the mid-term elections earlier this week and the simple tradeflow move following the Fed yesterday, bond markets have had their chance to make any necessary adjustments before the next big data point coming up next week. CPI (the consumer price index) isn’t the be all, end all market mover, but it’s important …

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Vendor and Management Products; Fannie and Freddie Updates; LIBOR Replacement News

By Rob Chrisman Posted To: Pipeline Press Whether bond loans (we all know how management loves those), non-QM, reverse mortgages, or high loan to values, originators everywhere are working hard for their borrowers and being creative in a compliant manner. For example, from Minnesota Eric Otterness writes, “Recently my team and I closed on a loan for a first-time buyer …

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