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  • U/W, PPE, Marketing, Compliance Products; House Price Stats Dissected; Vendor Monopolies
    by Mortgage News Daily on February 1, 2023 at 2:48 pm

    I’ve never seen my cat Myrtle fly commercial. That aside, time “flies” by, Tom Brady retired again, and here’s a trivia question for your friends and family: how many 747’s did Boeing produce before the last one rolled off the assembly line yesterday? Over 54 years, about two per month. […]

  • Mortgage Applications Slow Their Pace, But Rates Should Help Soon
    by Mortgage News Daily on February 1, 2023 at 2:41 pm

    Mortgage activity slowed significantly last week, pulling the Mortgage Bankers Association’s (MBA’s) Market Composite lower after three weeks of gains. The Index, a measure of loan application volume, decreased 9.0 percent on a seasonally adjusted basis during the week ended January 27. It […]

  • Mortgage Rates Have Been Calm So Far This Week. That Could Change Now
    by Mortgage News Daily on January 31, 2023 at 9:02 pm

    Mortgage rates have been roughly in line with last week’s latest levels at the beginning of the current week.  That means they’re fairly close to the 4 month lows seen 2 weeks ago with the average lender able to offer conventional 30yr fixed rates in the low 6% range on top tier scenarios. The […]

  • Home Prices Are Slightly Lower, But Far From Plumetting
    by Mortgage News Daily on January 31, 2023 at 8:48 pm

    As rates spiked and sales contracted at the fastest pace in decades last year, we knew the post-pandemic surge in home prices was set to reverse.  By the middle of 2022, the average forecast saw the annual pace of home price appreciation falling back toward historic norms with prices losing a bit […]

  • What to Expect From Fed Day
    by Mortgage News Daily on January 31, 2023 at 8:19 pm

    What to Expect From Fed Day Markets can see the changes in inflation data and traders are eager to refine their understanding of how the Fed will balance those changes against their determination to avoid mistakes of the past (i.e. easing policy too soon […]

  • HMDA Compliance, Expansion Plan, Pricing Engine, Subservicing Products; Program and Procedure Changes
    by Mortgage News Daily on January 31, 2023 at 2:14 pm

    Does technology always trump personal skills? Sometimes. But not all the time. Good LOs use the technology that best suits them in combination with their personal attributes to help borrowers every day. “In space, no one can hear you scream. In cyberspace, no one can shut you up.” How ‘bout […]

  • Stronger Start on Tame Employment Cost Data
    by Mortgage News Daily on January 31, 2023 at 1:54 pm

    The Employment Cost Index (ECI) is an economic report that was never on our radar as a top tier market mover in the past.  Then in early 2022, Fed Chair Powell began to point it out as one of the most important indicators of potential wage pressures.  He’s gone on to mention it several more times […]

  • Skittish Over Data and Central Bankers
    by Mortgage News Daily on January 30, 2023 at 9:40 pm

    Skittish Over Data and Central Bankers With no relevant market movers on the US calendar today, it was notable to see just how willing the bond market was to react to overseas data.  Specifically, inflation came in hotter in Spain.  This sent European […]

  • Busy Week With Big Ticket Data And The Fed
    by Mortgage News Daily on January 30, 2023 at 3:38 pm

    Unlike last week, the present example offers multiple scheduled economic reports that have consistent track records of causing market movement.  Key examples include both ISM reports, ECI, JOLTS, and of course the jobs report on Friday.  The Fed announcement lies smack dab in the middle on […]

  • Homebuyer Education, RON, Elastic Ops Tools; Conventional Conforming News; STRATMOR on Tech ROI
    by Mortgage News Daily on January 30, 2023 at 3:07 pm

    Want to really let someone know that you’re no longer interested in them? For $10 the San Antonio Zoo is offering a special Valentine’s Day greeting for exes who keep bugging you after you part ways: naming a cockroach after your not-so-special someone and feeding it to an animal. What about […]