Mortgage News Daily

Mortgage News Daily

3-Year Low Mortgage Rates; New FHA Rule Makes Condo Buying Easier

Mortgage rates fell today as the underlying market for mortgage-backed-securities (MBS) actually did a better job of keeping pace with broader bond market gains–not something they’ve been doing very well lately! For some lenders, it was enough to get them back to August 6th’s levels, which were the best in nearly 3 years. The average lender can quote a conventional …

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Refi Spree Continues with Rates at Near 3-Year Lows, But Mortgage Market is a Mess; Global Economy Doomed?

The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage application volume, rose 21.7 percent on a seasonally adjusted basis during the week ended August 9. MBA attributed the substantial decline in interest rates at the beginning of the week for the surge of applications which were concentrated on mortgage refinancing. The Composite Index rose 20 …

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Loan Performance Responds to Slowing Economy, Natural Disasters; Rates Jump After Tariff Delay

Both the Mortgage Bankers Association (MBA) and CoreLogic issued data on recent loan performance on Tuesday. For CoreLogic the Monthly Loan Performance Report covered May, MBA’s National Delinquency Survey is for the second quarter of this year. MBA notes an increase in the overall seasonally adjusted delinquency rate to 4.53 percent of all loans outstanding at the end of the …

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Huge Discrepancy in Rates; Universal MBS is Humming; Waiting For Inspiration

Mortgage rates were unchanged to slightly higher today–a claim that utterly boggles the mind of anyone who thought they understood the relationship between bond markets and the mortgage world. ALMOST without fail, a big drop in 10yr Treasury yields will coincide with lower mortgage rates. In fact, many people believe (albeit incorrectly) that mortgage rates are based on the 10yr …

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Wild Ride For Mortgage Rates; More and More Refi Opportunity; Jumbo Availability Improves

Mortgage rates moved lower today even though the broader bond market suggested they should have remained flat or higher. In several of this week’s previous articles, we’ve discussed the volatility that’s been wreaking havoc on the world of mortgage rate setting for lenders. Simply put, when the moves get bigger and when the direction changes more frequently, mortgage rates take …

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It Could Always be “Over”; Record High Purchase Sentiment; No, Rates Aren’t “Sharply Lower” This Week

In the day just passed, bonds endured whipsaw volatility of the highest and most frustrating order. Overnight gains were swift and largely defied any rational explanation other than the generic ” tradeflows ” platitude. The notion of short-covering or a short-squeeze due to an imbalance of traders betting on a bounce after Tuesday’s rally is also plausible, as is the …

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