Tuesday , 17 September 2019

Mortgage News Daily

Mortgage News Daily

Stellar Home Sales Report; Home Price Resiliency; Rates Calm Before Storm; What Does it Take?

Pending home sales put in an especially strong performance in June , the second consecutive positive report as well as the fourth in five months. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts that are signed to purchase existing homes rose 2.8 percent to 108.3 compared to 105.4 in …

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Housing Market Coming off “The Patch.” What’s That? And What’s Next?

The Consumer Financial Protection Bureau (CFPB) has issued an Advance Notice of Proposed Rulemaking (ANPR) regarding the expiration of the so-called GSE Patch. The provision is scheduled to expire no later than January 10, 2021. As background, the Dodd-Frank Consumer Protection and Wall Street Reform Act amended the Truth in Lending Act (TILA) to establish, among other things, ability-to-repay (ATR) …

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New Home Sales in West Bounce Back, Carrying National Numbers Higher; Applications Decline; Rate Volatility Ahead

New home sales bounced back in June from two prior reports of very weak sales . The U.S. Census Bureau and the Department of Housing and Urban Development said those sales were at a seasonally adjusted annual rate of 646,000 units, a 7.0 percent gain from the downwardly revised May rate of 604,000. June sales were also higher on a …

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Here’s How Many Loans the GSE Loophole Saved; Here’s How ‘Priced-In’ Rate Cuts Are

Mortgage rates Moved just slightly lower today, despite some push back from underlying bond markets. Typically, weakness in the bond market (like the kind we saw today) corresponds to rising rates–even if only a modest amount. The compensating factor today was the timing of yesterday’s bond market gains. Simply put, there is a bit of lag between bond market movement …

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