MBS RECAP: Catalonia (or China!) Helped Early; Powell Saved The Day
10/19/2017 4:11 PM
Posted To: MBS CommentaryIt was a pretty interesting session for how narrow the range continues to be in bond markets--interesting both for bonds themselves and for the analysts scrambling to make sense of the movement. Apart from last Friday's CPI data, there hasn't been an unequivocal market move...Read More
Mortgage Rates Hold Ground Amid Market Volatility
10/19/2017 3:10 PM
Posted To: Mortgage Rate WatchMortgage rates were unchanged to slightly lower today. Political drama in Europe pushed stocks lower overnight and sent investors toward safer haven assets like bonds. Higher demand for bonds pushes rates lower, all things being equal. All of the above meant a stronger start for bo...Read More
Remodelers Report Backlogs, Labor Shortages as Market Grows
10/19/2017 1:59 PM
Posted To: MND NewsWireHome remodeling activity reported by builders increased in the third quarter and remains above the benchmark 50 level for the 18 th consecutive quarter. The National Association of Home Builders" (NAHB) Remodeling Market Index (RMI) rose 2 points to 57 as more builders reported increased market act...Read More
Freddie Changes Student Loan Debt Calculation
10/19/2017 8:42 AM
Posted To: MND NewsWireA new Bulletin from Freddie Mac makes several changes to its Seller Guide . The most impactful changes relate to the way sellers can calculate student loan debt for inclusion in the monthly payment debt-to-income ratio. Under the current policy, when a seller cannot provide the monthly payment requ...Read More
New Vendor Creations; Jumbo and No MI Products
10/19/2017 8:26 AM
Posted To: Pipeline PressYesterday I had some interesting geographic involving the United States that prompted Tony H. to send a few more items. The closest state to Africa? It’s Maine! (Quoddy Head. The largest U.S. city closest to Africa is Boston.) And if one flew directly south fro...Read More
MBS Day Ahead: 2 Simple Lines Means Bonds Stay In The Game
10/19/2017 7:34 AM
Posted To: MBS CommentaryThe past 3 days were disconcerting for bond markets--especially yesterday, which saw yields move higher at their quickest pace in two weeks. This threatened to reverse the positive trend that looked like it was confirmed by last Friday's CPI-driven rally. But as we discussed in...Read More
MBS RECAP: Stronger Selling and Lighter Volume Raise Doubts
10/18/2017 3:58 PM
Posted To: MBS CommentaryEverything seemed so simple last Friday when bonds were surging past technical barriers in strong volume--ostensibly ringing the dinner bell for more bond buying. The fact that everything seemed so simple was also the biggest risk. Perhaps it was "too simple." Perhaps the...Read More
Mortgage Rates Rise Only Modestly Despite Market Weakness
10/18/2017 3:13 PM
Posted To: Mortgage Rate WatchMortgage rates moved modestly higher today despite bigger movement in underlying bond markets. In part, this is a byproduct of the way rates behaved at the end of last week, when lenders didn"t adjust rates lower as quickly as bond market strength would have suggested. In short, ra...Read More
Housing Starts Still Under The Weather; Single-Family Permits on The Mend
10/18/2017 8:58 AM
Posted To: MND NewsWireThe U.S. Census Bureau is mum on causation, but results from the southern region would indicate that the August and September hurricanes probably drove declines in both housing permits (except those for single-family residences) and housing starts in September. Both were down by over 4 percent comp...Read More
Hurricanes Impact on Housing Could Last
10/18/2017 8:51 AM
Posted To: MND NewsWireFannie Mae has lowered its third quarter projections for GDP growth by 0.2 percent to an annualized 2.4 percent based on its assessment of the overall impacts of the recent hurricanes. The company"s Economic and Strategic Research (ESR) Group says the storms appeared to have slowed consumer spendin...Read More