Around The Web

Purchase Origination Share Remains at Survey High

By Jann Swanson Posted To: MND NewsWire Purchase loans held on to the June share of 71 percent of closed loans in July which remains the highest share in the seven-year history of Ellie Mae’s Origination Insight Report . Refinances also held steady, remaining at 29 percent although the percentage of refinancing through the VA gained 2 percentage points to …

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MBS Day Ahead: Turkey Causing Road Rage; Another Look at Moving Average Misdirection

By Matthew Graham Posted To: MBS Commentary I found myself driving in the truck for more than an hour yesterday evening–long enough to hear the news cycle repeated several times. During that time, I was emphatically warned about this ” new ” and ” surprising ” issue of Turkey’s financial crisis. Apparently this has the potential to send shockwaves through …

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Construction Numbers Post Sluggish Recovery

By Jann Swanson Posted To: MND NewsWire As analysts had predicted, both housing permits and starts recovered , albeit only slightly, in July after a poor showing the previous month. The U.S. Census Bureau and the Department of Housing and Urban Development now report that housing permits are being issued at a pace higher than in 2017, but housing starts …

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Economic Environment Depressing Millennal Homeownership

By Jann Swanson Posted To: MND NewsWire It shouldn’t be news to anyone that the homeownership rate of the Millennial generation continues to be anemic. While it has improved slightly since 2015, the Urban Institute’s (UI’s) new research shows that, at that point it was 37 percent, 8 percentage points lower than the homeownership rate of Gen Xers and baby …

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MBS RECAP: Bonds Dragged Into Snowball Rally by Stocks (Not Turkey)

By Matthew Graham Posted To: MBS Commentary Headlines continue overstating the connection between US market movements and the financial drama in Turkey. Today was especially damaging to the case for correlation as Turkish Lira improved significantly even as US stocks and bond yields sank. The conventional wisdom has been arguing for the OPPOSITE relationship lately (i.e. weaker Lira pushes bond …

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Mortgage Rates Barely Lower Despite Bond Market Cues

By Matthew Graham Posted To: Mortgage Rate Watch Mortgage rates fell only modestly today despite a much stronger move in broader bond markets. I spend a lot of time espousing the fact that rates are based on bonds, so it’s fair to wonder how days like today happen. Indeed, interest rates are based on bonds, but there are a wide …

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Builder Confidence Retreats Once Again

By Jann Swanson Posted To: MND NewsWire Rising concerns about costs and labor shortages continue to take a toll on home builder sentiment according to the August Housing Market Index (HMI). The Index, a joint product of the National Association of Home Builders (NAHB) and Wells Fargo, dipped another point to 67. The HMI has been moving in a narrow …

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