• Mortgage Rates Hard-Hit by Trade Headlines
    by Matthew Graham on December 12, 2019 at 7:58 pm

    Posted To: Mortgage Rate WatchMortgage rates jumped quickly higher today following a series of headlines/tweets regarding the probability of a US/China trade deal ahead of Sunday’s tariff deadline. What does all that mean? Let’s break it down. The status of the US/China trade relationship is a big […]

  • Sluggish Loan Applications Show Weakness in New Home Sales
    by Jann Swanson on December 12, 2019 at 3:06 pm

    Posted To: MND NewsWireWhile the Mortgage Bankers Association (MBA) is predicting newly constructed homes sold at a much higher rate in November than they did a year earlier, sales are expected to be down significantly from this past October. MBA’s Builder Application Survey (BAS) data for November […]

  • MBS Day Ahead: A New Way to Look at The Range
    by Matthew Graham on December 12, 2019 at 2:15 pm

    Posted To: MBS CommentaryYesterday brought a nice little rally in response to a surprisingly rate-friendly press conference with Fed Chair Powell. The counterpoint to that conclusion is seen in the chart I posted in yesterday’s recap. Specifically, bonds began the day rallying and were in the midst […]

  • Broker, Back-Office, Non-QM Products; Upcoming Events; The Fed and Rates
    by Rob Chrisman on December 12, 2019 at 2:06 pm

    Posted To: Pipeline PressWe never see the headline, “Psychic Wins Lottery!” No one has a crystal ball, but originators often ask their capital markets staff about the direction of rates, whether it is, “Should I lock today?” or “Why can’t we guarantee a builder a rate nine […]

  • MBS RECAP: Fed Proves Surprisingly Capable of Intraday Inspiration
    by Matthew Graham on December 11, 2019 at 9:55 pm

    Posted To: MBS CommentaryWe moved from NFP not mattering (and then causing a surprisingly big intraday stir) to the Fed undergoing quite a similar routine. Granted, in the bigger picture, neither event will be memorable or have a lasting impact on rate momentum, but they both came as close as they […]

  • Mortgage Rates Improve After Fed Announcement
    by Matthew Graham on December 11, 2019 at 9:14 pm

    Posted To: Mortgage Rate WatchMortgage rates improved today following the Federal Reserve’s policy announcement and Fed Chair Powell’s press conference. The Fed doesn’t set mortgage rates (their policy rate applies to 1-day loans between banks whereas mortgages obviously last a lot longer). But the […]

  • Differences Between Previous and Current FOMC Statements
    by Matthew Graham on December 11, 2019 at 7:02 pm

    Posted To: MBS CommentaryInformation received since the Federal Open Market Committee met in SeptemberOctober indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment […]

  • NAR Forecasts on GDP, Rate Cuts, and Probability of Recession
    by Jann Swanson on December 11, 2019 at 6:26 pm

    Posted To: MND NewsWireThe National Association of Realtors (NAR) used the occasion of a summit headed by Secretary of Housing and Urban Development Ben Carson to release its forecast for housing and the economy over the next year. The predictions were consensus estimates from 14 leading economists […]

  • Servicing Primer and Prepayment Speeds; Retention, Reno, Non-QM Products
    by Rob Chrisman on December 11, 2019 at 2:41 pm

    Posted To: Pipeline PressAloha! As any servicer with borrowers in Hawai’i knows, if you’re going to ask, “Is Ms. Keihanaikukauakahihuliheekahaunaele* home?” or “Do you live on Kaalualu Waiohinu Rd.?”, you’d better be able to pronounce them. In the 1960s, […]

  • Everyone is Still Refinancing; FHA Refis at 3 Year High
    by Jann Swanson on December 11, 2019 at 1:41 pm

    Posted To: MND NewsWireMortgage applications activity recovered strongly during the week ended December 6 after the usual Thanksgiving week lull. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures the volume of mortgage applications, increased 3.8 percent on a […]