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MBS RECAP: Bonds Ignore Econ Data in Favor of Next Week"s Fed Events
12/14/2018 4:44 PM
Posted To: MBS CommentaryBonds began the day in modestly stronger territory. While they spend a small amount of the day trading a small distance away from those opening levels, that time and distance was never big enough to cause any concern. In short, the "consolidation" we'd hoped to confir...
Mortgage Rates Preserve Most of Last Week"s Gains
12/14/2018 4:25 PM
Posted To: Mortgage Rate WatchMortgage rates didn"t move much today, and that"s arguably a good thing. When the week began, we discussed the need for rates to cool-off after last week"s rapid drop. Doing so would improve our chances of seeing recently lower rates stick around for more than a fleeting moment. No...
Housing Forecasts Are Getting More Consistent
12/14/2018 10:04 AM
Posted To: MND NewsWireConsistency can be boring, but in crazy times it can also be reassuring, even comforting. While they differ on the specifics, economists, at least those in the housing industry, seem to be coming together with much the same outlook and many of the same caveats for the next year or so. Fannie Mae"s ...
MBS Day Ahead: This Would Show That Bonds Are Serious About Considering Even More Gains
12/14/2018 8:24 AM
Posted To: MBS CommentaryIf you've truly come to an appreciation of the gravity of bonds' big picture headwinds over the past 2 years, then the past 5 weeks may feel like a stroke of luck so good that it has to change any day now. More than a few bond analysts were worried about a bigger, sharper b...
Compliance and Documentation Products; Loan Limit Changes in the Primary Markets
12/14/2018 8:02 AM
Posted To: Pipeline PressLots of folks in the mortgage biz like statistics and odds. They may not remember them, but they like them. (As Marcus L. writes, “People still play the lottery even though most of us can"t get the USB in the first time correctly and those odds are 50/50.&rdquo...
MBS RECAP: Bonds Continue Calming Before Next Storm
12/13/2018 6:12 PM
Posted To: MBS CommentaryWhether or not next week's Fed announcement proves to bring a winter storm for bond markets remains to be seen. That said, if anything is going to do the trick, that's the best chance we have. Between now and then, bonds aren't quite sure what to do with themselves, as ...
Mortgage Rates Edge Back Down Toward Long-Term Lows
12/13/2018 1:59 PM
Posted To: Mortgage Rate WatchMortgage rates fell moderately today, helping them move part of the way back down toward their lowest levels in more than 3 months (seen back on Friday). The average lender continues quoting rates that are roughly 3/8ths of a percentage point lower than the highs from early Novembe...
Not Just the Season; MBA Predicts New Home Sales Down Sharply
12/13/2018 8:58 AM
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market. MBA"s Builder Application Survey (BAS) data for November shows mortgage applications for newly constructed home purchases falling by 14 percent compared to Octo...
MBS Day Ahead: Clear Correction May Be Finding Clear Ceiling
12/13/2018 8:26 AM
Posted To: MBS CommentaryThe first 3 days of this week have offered a clear correction/consolidation to the strong rally of the previous month. This had as much to do with timing and technicals as anything else. In other words, the rally brought yields so much lower, so quickly (relative to other attempts ...
Books by Lenders, For Lenders; False Claims Act Rears it"s Head; LO Products and Services
12/13/2018 8:23 AM
Posted To: Pipeline Press“Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?” It turns out that, in terms of grabbing their pieces of ground, first-time home buyers were more active in the first three quarters of 2018 than ...