Tuesday , 17 September 2019

Mortgage News Daily

Mortgage News Daily

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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Homebuyers Aren’t Big on Mortgage Shopping; Lowest Rates Since November 2016

Doug Duncan, Fannie Mae’s chief economist, says homebuyers need to do more shopping around before they settle on a mortgage lender. Results from a recent National Housing Survey shows that one-third of consumers who bought a home last year got only one mortgage quote. Duncan’s report notes that consumers are typically “keen” to compare prices before buying ordinary goods or …

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China Takes Center Stage; Rates/Stocks Plummet; Affordability’s Impact on Home Price Trends

Mortgage rates were already in great shape on Friday after having fallen to the lowest levels since November 2016. Rather than draw inspiration from the week’s big ticket events (Fed announcement and jobs report), the biggest source of inspiration was a flare-up in trade tensions following Trump’s announcement of new tariffs on Chinese imports. Trade war drama flared over the …

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Coming Off “The Patch” is Gonna Hurt The Mortgage Market; Rates Drop to New Multi-Year Lows

Mortgage rates fell again on Friday as lenders finally saw recent bond market gains stabilize enough to act on. In other words, lenders don’t always keep their mortgage rate offerings moving in lock-step with the underlying bond market (which dictates rates over time). This helps protect them from potential volatility, which ultimately allows them to keep rates lower than they …

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