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MBS RECAP: Just When You Thought The Ceiling Was a Ceiling
7/20/2018 5:45 PM
Posted To: MBS CommentaryUndoubtedly, yesterday's bond trading sent a clear message that a technical ceiling near 2.88% was met with strong defense from traders who bought bonds and pushed yields back down into the recent range. Color all of us shocked, then, that today saw yields promptly rise right b...
Mortgage Rates Behind the Curve For 2nd Straight Day
7/20/2018 5:27 PM
Posted To: Mortgage Rate WatchMortgage rates improved today but it was largely a byproduct of yesterday"s market movement that didn"t make it onto lenders" rate sheets at the time. Mortgage lenders set rates based on trading levels in mortgage backed securities or MBS (the bonds that groups of mortgages turn in...
NAHB Sees Lopsided Growth in Housing Starts
7/20/2018 10:43 AM
Posted To: MND NewsWireIn another dive into data from the Census Bureau"s Survey of Construction (SOC), the National Association of Home Builders (NAHB) found that one third of the nine census divisions and thus 21 states were responsible for 60 percent of single family housing starts last year. The South Atlantic divisi...
Fannie Sees Growth Slowing, Turns Bearish on Housing
7/20/2018 9:03 AM
Posted To: MND NewsWireFannie Mae"s economists have upgraded their second quarter economic forecast but say that may be about it for the year . In their July forecast, the company"s Economic & Strategic Research (ESR) Group, headed by Doug Duncan, noted that the expansion just celebrated its ninth anniversary "with a...
MBS Day Ahead: Back in The Range, But Yield Curve Could Protest
7/20/2018 8:27 AM
Posted To: MBS Commentary10yr yields attempted to break above their prevailing range yesterday. As we discussed in the Day Ahead, it takes more than just an intraday move above a ceiling in order to confirm such a break is taking place. Ultimately, yesterday's theme evolved into a resounding defense of...
Flood, Volcano, Hurricane, and Disaster News; Lender Updates
7/20/2018 8:06 AM
Posted To: Pipeline PressA Small Business Administration analysis found that about 90 percent of the country’s damage costs from natural disasters happen in ZIP codes with less than 20 percent of the country’s population. If you’re in the mood to see what that looks like on...
MBS RECAP: Key Technical Ends Up Providing Support
7/19/2018 3:02 PM
Posted To: MBS CommentaryIf you are an MBS Live member, today's recap has already been written in this update and in The Huddle . Non-MBS Live members can get a pretty solid idea from the free mortgage rate article HERE . For those who don't like to click links, suffice it to say that the upper ran...
Mortgage Rates Back to Flat After Starting Higher
7/19/2018 1:53 PM
Posted To: Mortgage Rate WatchMortgage rates had a scare today, as they began the day at their highest levels of the month (depending on the lender) only to fall back in line with yesterday (or better!). The reason for the back-and-forth movement has to do with esoteric behind-the-scenes stuff in the bond marke...
Libor - Not Exactly an Obituary, But...
7/19/2018 10:50 AM
Posted To: MND NewsWireA group of financial experts is scheduled to meet at on Thursday to make funeral arrangements for Libor . In case you hadn"t heard, the London interbank offered rate, the number that indicates how much one bank needs to borrow from another, is not expected to survive much beyond the end of the deca...
FHFA Ruled Unconstitutional, but Net Sweep Prevails
7/19/2018 10:07 AM
Posted To: MND NewsWireYet another federal court has rebuffed shareholders hoping to recover some value from their investments in the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. A three-judge panel for the Fifth Circuit (Texas) Court of Appeals refused to stop the practice of net worth sweeps requ...