• MBS RECAP: Quiet Trading Week Leaves Focus on Brexit Weekend
    by Matthew Graham on October 18, 2019 at 10:04 pm

    Posted To: MBS CommentaryToday was a throw-away day for the bond market. Yields matched their narrowest trading range of the week and ended the day at their most ‘unchanged’ levels of the week (i.e. closest to the previous day’s close). In addition, Friday’s close was only 2bps away from last […]

  • Here’s Why Rates Were Flat This Week (And Why That Should Change)
    by Matthew Graham on October 18, 2019 at 10:03 pm

    Posted To: Mortgage Rate WatchMortgage rates were flat today. In fact, they were very close to being flat on the week for that matter! This is a reflection of the bond markets current set of concerns, which really came into focus late last week with Thursday’s Brexit-related news and Friday’s trade […]

  • FHA Tops the List for Non-Conventional Purchases
    by Jann Swanson on October 18, 2019 at 5:46 pm

    Posted To: MND NewsWireMore than a quarter of new home purchases in 2018 were financed through non-conventional sources. Data from the Census Bureau’s Survey of Construction shows that, while the new home market was dominated by loans from Fannie and Freddie Mac, other funding accounted for 28.6 […]

  • After Two Years, Residential Fixed Investment Returns to Positive Territory
    by Jann Swanson on October 18, 2019 at 3:11 pm

    Posted To: MND NewsWireEven though the pace of home building remains below where the industry would like it to be, Fannie Mae says it helped drive residential fixed investment into the black in the third quarter. The company’s Economic and Strategic Research Macroeconomic Forecast Team says it […]

  • MBS Day Ahead: Strange Combination of Pre-Brexit Paralysis and Jumpiness
    by Matthew Graham on October 18, 2019 at 1:03 pm

    Posted To: MBS CommentaryYesterday brought the highest yields in a month as Brexit-related optimism swelled early in the overnight session. At issue: British PM Johnson and EU negotiators reached “a deal.” Great! Right? Brexit is solved? But wait… British parliament would still need to sign off […]

  • MBA Predicts Economic and Rate Uncertainty Depressed New Home Sales
    by Jann Swanson on October 18, 2019 at 12:22 pm

    Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) says it expects that new home sales declined in September relative to August based on a drop in mortgage applications to finance their purchase. MBA says its Builder Application Survey showed there were 8 percent fewer applications in […]

  • Broker, Fraud, Credit, and Hedging Products; Lenders Adjust to FHA Changes
    by Rob Chrisman on October 18, 2019 at 12:15 pm

    Posted To: Pipeline PressHere’s a little trivia for you. What does San Francisco have six of that Manhattan has none of? Dirt roads ! I don’t know if the cost of maintaining a dirt road is more than that of maintaining a paved road, but I do know that the industry is buzzing about Citi […]

  • MBS RECAP: Even if Bonds Weren’t Ignoring Data, They’d Still Be Confused
    by Matthew Graham on October 17, 2019 at 8:24 pm

    Posted To: MBS CommentaryThe bond market has a lot on its mind right now. 2019 is proving to be very different from other episodes of big, protracted rate trends. In most past instances, we can point to 1 key theme driving the momentum, with a few occasional supporting actors. Things are more […]

  • Mortgage Rates Face Volatility Thanks to an Old Friend
    by Matthew Graham on October 17, 2019 at 7:40 pm

    Posted To: Mortgage Rate WatchMortgage rates didn’t do much today, but risks are increasing that movement will be more brisk in the coming business days. Blame European politics–specifically: Brexit. This isn’t the mortgage rates’ world first go-round with the U.K.’s lengthy process of exiting the […]

  • Single Family Construction Improves, Multi-Family Not So Much
    by Jann Swanson on October 17, 2019 at 2:20 pm

    Posted To: MND NewsWireAfter posting some of the best results in a year the previous month, all three construction indicators fell back in September . The U.S. Census Bureau and the Department of Housing and Urban Development said housing starts and completions of residential units were especially […]