• MBS RECAP: Defensive Shift Ahead of ECB Announcement
    by Matthew Graham on July 21, 2021 at 9:01 pm

    Posted To: MBS CommentaryDefensive Shift Ahead of ECB Announcement Coming into the week, there was some speculation that Monday’s bond rally was based on expectations for a friendly announcement from the European Central Bank (ECB) on Thursday morning, but it probably makes more sense to ascribe […]

  • MLO Jobs, Lenders Wanted; U/W Training, Jumbo Products; Customer Service; Upcoming Virtual Events
    by Rob Chrisman on July 21, 2021 at 3:42 pm

    Posted To: Pipeline PressExperienced mortgage loan originators (MLOs) know that a rate lock is a rate lock. The removal of the adverse market fee of .5 for conventional conforming refis above $125,000 has caused conversations about pricing, borrower, and profit strategy. One veteran MLO wrote to me […]

  • Purchase Mortgage Volume Continues to Weaken
    by Jann Swanson on July 21, 2021 at 2:02 pm

    Posted To: MND NewsWireAfter a strong showing during the week ended July 9, mortgage application volume pulled back. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of that volume, decreased 4.0 percent on a seasonally adjusted basis during the week ended July 16 although […]

  • MBS Day Ahead: Correction Continues as Bonds Test Another Technical Ceiling
    by Matthew Graham on July 21, 2021 at 1:23 pm

    Posted To: MBS CommentaryWith a moderate dose of weakness in the overnight session, 10yr yields have quickly found themselves on the doorstep of 1.25%–a level that marked the threshold of a fun little party over the past 2 days as yields moved as low as 1.128%. The prevailing belief is that rates […]

  • Mortgage Rates Substantially Lower This Week, But Under Some Pressure Today
    by Matthew Graham on July 20, 2021 at 7:30 pm

    Posted To: Mortgage Rate WatchThere are two pieces of big news for mortgage rates over the past few business days. The first arrived last week in the form of the removal of the adverse market fee that artificially increased rates for refinance transactions starting late last summer. The second […]

  • MBA Sees New Home Sales at 13 Month Low
    by Jann Swanson on July 20, 2021 at 7:29 pm

    Posted To: MND NewsWireThe Mortgage Bankers Association is projecting a sizeable decline in new home sales occurred last month as applications for their purchase declined 3 percent month-over-month and were 23.8 percent lower than in June 2020. The change does not include any seasonal adjustment. […]

  • Housing Starts Continue to Improve as Permits Lose More Ground
    by Jann Swanson on July 20, 2021 at 7:28 pm

    Posted To: MND NewsWireHousing starts posted a second straight increase in June while permits continued what has become a long, slow, slide. The U.S. Census Bureau and the Department of Housing and Urban Development said builders began construction on new homes at a seasonally adjusted annual rate […]

  • MBS RECAP: Intraday Weakness vs Bigger Picture Strength
    by Matthew Graham on July 20, 2021 at 7:24 pm

    Posted To: MBS CommentaryIntraday Weakness vs Bigger Picture Strength There comes a time in the midst of an aggressive snowball rally (or sell-off) in the bond market where we’re forced to consider the mortality of the short term trend. As 10yr yields jumped up almost 10bps in a few short hours, […]

  • MLO, AE Jobs; Marketing, Sales, Broker, Originator, Social Media Tools
    by Rob Chrisman on July 20, 2021 at 3:52 pm

    Posted To: Pipeline Presst was bound to happen: My cat Myrtle and I came to blows. She wanted to spend her trust fund money, earned on the catwalk in her prime, to pay various periodicals and ranking services around the nation to say that she won the “2020 Cat of the Year Mentioned in a Daily […]

  • MBS Day Ahead: Snowball Rally Still Searching For Its Limit
    by Matthew Graham on July 20, 2021 at 2:00 pm

    Posted To: MBS CommentaryEven before this week, the mid-2021 bond rally exceeded many expectations with the 10yr yield’s brief love tap of the 1.25% level last week. It’s only Tuesday morning and we’re already down to 1.13%. Considering last week’s high of 1.42%, it’s safe to say we’re in the midst […]