Mortgage News Daily

Mortgage News Daily

Mortgage Rates Not Interested in Any of Today’s Drama

By Matthew Graham Posted To: Mortgage Rate Watch At one point today, there were three apparently important events dominating the newswires simultaneously. These included the Fed Chair’s congressional testimony, the Cohen congressional testimony, and–you guessed it–congressional testimony from Lighthizer on US/China trade policy. Mortgage rates are determined by the bond market, and the bond market could make a case for …

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MBS RECAP: Lots of Sound and Fury, But Little Significance

By Matthew Graham Posted To: MBS Commentary “Full of sound and fury, signifying nothing” That’s one of my favorite lines from some old book I read, or maybe it was a play (hint: it was a play!), because it operates so well outside Macbeth’s lamentation of the futility of life. In our case, it often serves to highlight a different …

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A Surprise in Pending Sales Kicks Off 2019

By Jann Swanson Posted To: MND NewsWire Normal 0 false false false EN-US X-NONE X-NONE Expectations were high for a strong pending home sales report to christen the New Year. Those expectations were more than satisfied. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) jumped 4.6 percent , climbing to 103.2 in January from 98,7 …

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More Than a Third of Millennials are Sharing Housing

By Jann Swanson Posted To: MND NewsWire More than a year has elapsed since the Census Bureau collected data for its most recent (2017) American Community Survey (ACS), but unless things have changed drastically in that time, the nation is still waiting for Millennials to “launch.” Natalia Siniayskaia,, writing in the National Association of Home Builders (NAHB) Eye on Housing …

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MBS Day Ahead: If They Were Smart, Congress Should Ask Powell This Question

By Matthew Graham Posted To: MBS Commentary Today brings a 2nd day of congressional testimony with Fed Chair Powell, this time before the House Financial Services Committee. The economic IQ varies widely among those committee members. While we’ll no doubt hear some hilariously bad or irrelevant questions, there’s always a chance that a thought-provoking question elicits a relevant response from …

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Digital products; Wholesale News Across the Biz; Zillow and Chase News

By Rob Chrisman Posted To: Pipeline Press As opposed to HomeBridge Financial, which appears to be buying HomeStreet’s origination biz, it is no secret that JPMorgan Chase isn’t an ardent fan of residential mortgage lending. This slide in its investor deck spells out why: competition/shrinking margins, and home buying cooling off. “A tough time to be in the business”? Companies …

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Mortgage Apps Surge in Response to Lower Rates

By Jann Swanson Posted To: MND NewsWire Mortgage applications increased for the second week as interest rates again ticked lower at well under 5 percent. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, increased 5.3 percent on a seasonally adjusted basis during the week ended February 22. As that week began with the …

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MBS RECAP: Bonds Rally Back to Range Lows With or Without Powell

By Matthew Graham Posted To: MBS Commentary Despite a fair amount of anticipation, today’s Powell testimony proved to be a non-event for the bond market. Instead, things like the weak Housing Starts data and strong Consumer Confidence got far more attention (as long as we’re talking about attention in a relative sense). Overall, today’s trading range was very narrow in …

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