Thursday , 20 September 2018

Mortgage News Daily

Mortgage News Daily

Existing Home Sales Level Out After Long Decline

By Jann Swanson Posted To: MND NewsWire It was a disappointment, but at least it wasn’t a loss. Existing home sales, which were expected to increase in August after four straight months of declines instead remained unchanged from July. In fact, almost the entire report on August’s existing home sales can be summarized by the word, “flat.” Said sales of …

Read More »

August Loan Closing Rate Highest of Year

By Jann Swanson Posted To: MND NewsWire The share of loans originated for refinancing rose in August for the first time this year. Ellie Mae’s Origination Insight Report shows that closed transactions for refinancing represented 32 percent of the total, up 3 percentage points from July. The 3-point increase was consistent across all loan types. The refinancing share was 45 …

Read More »

MBS RECAP: Is It Over?

By Matthew Graham Posted To: MBS Commentary The titular question could be taken two ways . Is the selling pressure in bonds over? Is the “low rate environment” that’s been in effect since mid-2011 over? The answers, in order are “probably not” and “for now.” To be fair to the “low rate environment,” that’s arguably been over since 10yr yields …

Read More »

Mortgage Rates Knocking on 5% Ceiling

By Matthew Graham Posted To: Mortgage Rate Watch Mortgage rates are in bad shape . At some point in the past 3 days (depends on the lender), top tier 30yr fixed rate offerings hit their highest level in 5 years, then 7 years. For the first time since 2011, the most prevalent top tier rate is 4.875% (meaning a handful …

Read More »

Home Starts Improve, but There's a Catch

By Jann Swanson Posted To: MND NewsWire Both permits and starts were expected to pick up in August, at least holding on to their slight gains in July. Housing starts did deliver, posting a strong increase, but permits, a leading indicator, were down sharply. The U.S. Census Bureau and Department of Housing and Urban Development report that permits fell by …

Read More »

LO Jobs and Resources; Direct Streaming Treasury Trading; What's Moving Rates?

By Rob Chrisman Posted To: Pipeline Press I received this question from a well-known lender in Texas. “Rob, our company views loan processors as the unsung heroes of lending. We’re evaluating how ours are paid. Any thoughts?” The STRATMOR Group does quite an industry survey, and its recent data shows that the overwhelming majority are paid some incentive, and that …

Read More »