Mortgage News Daily

Mortgage News Daily

Mortgage Profits Surge; Awesomely Flat Rates; What’s Hurting Homeownership?

The financial situation for mortgage lenders brightened considerably in the first quarter of this year, although profitability is way down from post-recession peaks. The Mortgage Bankers Association (MBA) said the average gain on each loan originated by the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks responding to its survey was $285. In the fourth quarter of 2018 …

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Fannie/Freddie Single MBS is Live; Rates Nearly Flat Despite Scary Market Movement: Patience or Panic?

Mortgage rates hit their best levels since late 2017 yesterday and have generally been making stellar moves for the past 2 weeks. To be fair, it’s been the broader bond market (which dictates mortgage rates, among other things) that’s been making the most stellar moves. Mortgages merely got pulled along for the ride. It’s disconcerting and perhaps even alarming , …

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Mortgage Rates Continue to Plummet; Early Payoffs, Refi Pool, and Affordability all Growing

Mortgage rates dropped quickly again today, easily hitting the lowest levels since late 2017 for the average lender. The move comes in response to a surge in volatility and perhaps even a wave of panic in financial markets. Stocks have fallen somewhat swiftly as trade tensions increasingly look like an ongoing narrative as opposed to a temporary issue. The bigger …

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Pending Home Sales Fall, But Still Holding Most of 2019’s Gains; Are Rates Really Under 4.00%? Yes and No

April’s pending home sales had been expected to build on the gains posted in two of the three previous months, but they retreated instead. The National Association of Realtors® (NAR) said its Pending Home Sale Index (PHSI), a measure of newly signed home purchase contracts, fell 1.5 percent from its March level. The Index, with a 104.3 reading, was down …

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Rates Are Great, But They Could Be Greater; Case Shiller: Housing Should be Doing Better

The world of mortgage rate analysis is both simple and complicated . On a simple note, rates are near long-term lows and they’ll generally continue to follow the broader market for interest rates (which is largely based on US Treasuries, domestically). On the more complex note, mortgage rates aren’t directly tied to Treasuries, don’t move frequently throughout the day, and …

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