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MBS RECAP: Bonds on Autopilot Ahead of Fed Minutes and Treasury Auction
5/22/2018 3:52 PM
Posted To: MBS CommentaryFor the 2nd straight day , trading levels in bond markets held inside a narrow range--far narrower than that seen on any given day last week, let alone the entire week. This could be incidental or it could be in anticipation of some future event. The leading candidates as far as fu...
Mortgage Rates Super Flat So Far This Week
5/22/2018 2:09 PM
Posted To: Mortgage Rate WatchAfter quite a bit of volatility and a move up to 7-year highs last week, mortgage rates have managed to avoid any semblance of drama so far this week. In fact, each of the past 2 days has seen the average lender keep 30yr fixed rates perfectly in-line with Friday"s latest levels. T...
Increasing Number of Homes Built as Rental Property
5/22/2018 11:18 AM
Posted To: MND NewsWireAs if the new home inventory wasn"t tight enough, the National Association of Home Builders (NAHB) say a higher proportion of those homes are being built as rentals rather than owner occupancy . Robert Dietz, writing in NAHB"s Eye on Housing blog says the numbers are small, but the increase has con...
Nullification of Auto Loan Rule Has Broad Implications
5/22/2018 9:19 AM
Posted To: MND NewsWireIt only impacts auto lending, but if Mick Mulvaney, acting director of the Consumer Financial Protection Agency (CFPB) keeps his word, a Congressional resolution signed by the President on Monday is likely to have an eventual impact on mortgage and other lending as well. The Joint Resolution, S.J. ...
MBS Day Ahead: The Biggest Risk to Fledgling Bond Bounce
5/22/2018 8:21 AM
Posted To: MBS CommentaryToday begins the 3rd day where US Treasuries aren't imploding after hitting 7 year highs last Thursday. At this point, we might consider the resilience to be some sort of fledgling bounce attempt, even though we can continue to be concerned about technical floors (discussed her...
Lender Products; State-Level Changes; Does the Yield Curve Matter?
5/22/2018 8:10 AM
Posted To: Pipeline PressThe U.S. mortgage industry likely recorded an operating loss in the first three months of 2018 due to falling loan volumes and growing expenses, the Mortgage Bankers Association’s chief economist, Michael Fratantoni, said yesterday here in New York. On a person...
MBS RECAP: Bond Yields Struggle to Break Last Week"s Floor
5/21/2018 3:56 PM
Posted To: MBS CommentaryThere were no significant economic reports or events today, and only a few newsworthy developments. The biggest of these also happened the earliest (yesterday night, in fact) when the White House announced the suspension of certain tariffs on China. Stock futures liked the news (af...
Mortgage Rates Unchanged to Begin Week
5/21/2018 2:38 PM
Posted To: Mortgage Rate WatchMortgage rates held steady today, which is better than what could be said for most of last week when rates shot up to the highest levels in 7 years. Friday was the only day of improvement, but it was scarcely enough to undo the damage from the previous 4 days. That said, it did rai...
Will "Freeing" Fannie/Freddie Improve Housing Finance?
5/21/2018 2:07 PM
Posted To: MND NewsWireIn a prior article we summarized the options the Trump Administration might utilize to reform the residential mortgage financing system should Congress continue to drop the ball. Two noted economists, Jim Parrott and Mark Zandi, writing for the Urban Institute, address the notion of shrinking Fanni...
Lenders: Income Verification Needs for "Gig" Economy
5/21/2018 10:10 AM
Posted To: MND NewsWireLate last year Fannie Mae included questions in one of its National Housing Surveys about working in the "gig" economy. About a fifth of respondents claimed they earned at least some of their income through such employment. Gig-economy workers tend to have flexible work arrangements, working on sin...