Mortgage News Daily

Mortgage News Daily

Low Rates, Slower Price Gains Point to Home Sales Bounce

By Jann Swanson Posted To: MND NewsWire Freddie Mac’s economists see low interest rates continuing, at least through the end of next year . The company’s Economic and Strategic Research Group’s February Forecast, released on Thursday, also sees more economic growth, albeit at a slower rate, and a bounce back in the housing market. The 30-year fixed-rate mortgage (FRM) averaged …

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MBS Day Ahead: Range Breakout Quickly Getting Serious

By Matthew Graham Posted To: MBS Commentary The long-standing consolidation range in 10yr Treasury yields finally came under serious attack yesterday, with a big breakout to the upside. Any time these sorts of trendlines are broken–and especially if that break occurs on the last day of any given month (or just before a key event)–we like to see at least …

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MBS RECAP: Range Breakout!

By Matthew Graham Posted To: MBS Commentary GDP doesn’t usually move markets as clearly as it did today, but today was a bit of an anomaly. First off, we’d been waiting for this revision longer than normal due to the shutdown. Beyond that, it was a fairly sharp revision forecast due not only to the shutdown, but to the other …

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Homeownership is Highest Since 2014

By Jann Swanson Posted To: MND NewsWire The Census Bureau reported on Thursday that the national homeownership rate rose slightly in the fourth quarter of 2018 to 64.8 percent , up from 64.4 percent in the third quarter and 64.2 percent in the fourth quarter of 2017. The Census Bureau said that change was not statistically different in either case, …

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Mortgage Rates Spike to 2-Week Highs

By Matthew Graham Posted To: Mortgage Rate Watch Mortgage rates moved quickly higher today following stronger-than-expected economic data. Rates are driven by the bond market. Bonds are safe-haven assets. When the economy is stronger, investors are less likely to to buy safe-haven assets. As demand for bonds drops, it’s the same as investors demanding higher rates of return before buying. …

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This Isn’t Your Father’s Cash Out Refi

By Jann Swanson Posted To: MND NewsWire The share of cash-out refinances spiked in 2017 and 2018 in a manner similar to what happened just before the Great Recession. The share jumped to 50 percent in 2017 and 61 percent in 2018, the highest since 2006. In two posts in CoreLogic’s Insights blog however Arthur Jobe maintains that the current …

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Non-QM Products; Personnel Moves; Lender Profit Study; PennyMac/MCT API Bidding News

By Rob Chrisman Posted To: Pipeline Press Lenders need to be aware of the myriad of things that indirectly impact our business. The poverty rate declined overall in 2017 but the rate among Hispanics had one of the largest year-to-year drops across demographic groups and was the lowest since poverty estimates for Hispanics were first published in 1972. Nice! We …

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