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  • Mortgage Rates Down 0.25% This Week March 22, 2019
    Posted To: Mortgage Rate WatchAt the end of last week, the average top-tier 30yr fixed mortgage rate quote was 4.375%. As of today, the exact same scenario would be at 4.125%--a quarter of a percentage point lower. That's an uncommonly big move for a single week, but it's one we've been tracking eagerly in recent […]
  • Freddie Downgrades Economic Forecast but Bullish on Housing March 22, 2019
    Posted To: MND NewsWireLike virtually all the experts, including those at the Federal Reserve, Freddie Mac's economists have reduced their expectations for economic growth . The company's March forecast is for growth in the first quarter of 2019 to shrink to 1.2 percent. They do see it regaining its footing later in the year, but […]
  • Existing Homes Sales Post Huge February Gain March 22, 2019
    Posted To: MND NewsWireExisting home sales took off like a rocket in February, with strong results in three of the four major regions. The National Association of Realtors® (NAR) said single-family homes, townhouses, condominiums and cooperative apartments were sold during the month at a seasonally adjusted annual rate of 5.51 million. This is an 11.8 […]
  • MBS Day Ahead: Here's That Mid-March Breakout We Were Looking For March 22, 2019
    Posted To: MBS CommentarySometimes a plan comes together and sometimes an educated guess pans out. While it's never safe to plan on any future reality (other than "uncertainty") when it comes to financial markets, there are times where a certain series of events seems more likely than not. For most of 2019, mid-March looked to […]
  • Enforcement Action Webinar; Non-QM Snapshot; German 10-year Yield Drops Below 0% March 22, 2019
    Posted To: Pipeline PressCongrats to former President Jimmy Carter. As of today he is no longer just the oldest living U.S. president, but now is the longest-living in the nation's history. Created in 1986 LIBOR was not around during his presidency, but the transition away from using LIBOR is also making news. The Alternative Reference […]
  • MBS RECAP: Bonds Take a Day to Digest Fed Day as Stocks Finally React March 21, 2019
    Posted To: MBS CommentaryApparently it took the 9:30am NYSE opening bell ringer for stocks to truly realize what just happened. The Fed announcement on Wednesday was their way of saying "sorry" to stocks for the "steady as she goes" approach to tighter monetary policy in December. As of Wednesday the Fed's median outlook for the […]
  • Mortgage Rates Move Deeper Into Long-Term Lows March 21, 2019
    Posted To: Mortgage Rate WatchGranted, we're not back to the sub-4% mortgage rates that dominated much of the past 8 years, but breaking into the high 3% range is a valid consideration after the past few days. Yesterday's surprising Fed news hit the rates that were already holding near their lowest levels in well over […]
  • Both Closing Times and Pull Through Rates Improved in February March 21, 2019
    Posted To: MND NewsWireEllie Mae's Origination Insight Report for February is headlined by both a decrease in closing times and, more significantly, further declines in mortgage interest rates. The company said the average interest rates for loans originated on its platform during the month was 4.86 percent. This was 15 basis points lower than the […]
  • Vendor Management, Appraisal, and Compliance Products; FHA Changes Turning Heads March 21, 2019
    Posted To: Pipeline PressWant a growth industry? How about aging? PulteGroup's Del Webb 55+ brand will build 10 new Del Webb communities , planned to open over the next 18 months. Boomers welcome! Another growth industry is…Wite-Out?! Often used as the butt of jokes about using it to “fix” mortgage applications, correction fluid sales are […]
  • MBS Day Ahead: Anything Other Than a Crushing Defeat is a Big Victory March 21, 2019
    Posted To: MBS CommentaryIn case you missed yesterday, it was a doozy. Here are a few links that would help you get caught up: Here's Why Bonds Loved The Fed (And It's NOT The DOTS) Fed Officially Announces Big Bond-Buying Change yesterday's Fed Announcement bullets (MBS Live members) Fed Bond-Buying Shocker: What Happened and Why […]
  • Delinquencies Increase, But Still Down on the Year March 21, 2019
    Posted To: MND NewsWireMortgage performance, usually at its best in February and March, because it is assumed that tax refunds allow people to catch up on financial obligations. But, with data in on February, Black Knight says this year may be an exception to that rule. In its First Look at the month's numbers the […]
  • Homebuying Attitude Perked Up in Q1 March 21, 2019
    Posted To: MND NewsWireConsumer attitudes about buying a home seem to be slowly swinging back to positive . The National Association of Realtors ® , in its Housing Opportunities and Market Experience (HOME) survey for the first quarter, found 37 percent of respondents strongly believe now is a good time to buy. Only 34 percent […]
  • MBS RECAP: Here's Why Bonds Loved The Fed Today (And It's NOT The DOTS) March 20, 2019
    Posted To: MBS CommentaryYou may see news stories about the Fed shifting its rate hike outlook (conveyed in a dot plot often referred to as "the dots") to "zero hikes in 2019," but that's not today's big news. Today's big story is exactly the one we were looking for: a concrete announcement on the Fed's […]
  • Mortgage Rates Surge to New Long-Term Lows After Fed March 20, 2019
    Posted To: Mortgage Rate WatchMortgage rates broke a week-long streak of silence today following a policy announcement from the Federal Reserve. Even before today's Fed announcement, we knew we'd likely be seeing a move in rates. We just didn't know in which direction, or at what pace. As it happens, we were treated to the […]
  • The Fed Officially Announces Big Bond-Buying Change March 20, 2019
    Posted To: MBS CommentaryMarket participants sensed that the Fed was suddenly changing its tune with respect to its balance sheet back in January. The balance sheet primarily refers to all the bonds the Fed purchased as a part of the various Quantitative Easing plans conducted throughout the recovery to the Great Recession. At the time, […]
  • What Changed in The New Fed Statement? March 20, 2019
    Posted To: MBS CommentaryBelow are the differences in the first paragraph of the current Fed statement as compared to the previous version from January 30th, 2019. There were no changes beyond the 1st paragraph. The full statement can be found HERE . Information received since the Federal Open Market Committee met in DecemberJanuary indicates that […]
  • Fannie Mae Predicts Slower Growth, Fewer Rate Hikes March 20, 2019
    Posted To: MND NewsWireForecasts of slowing economic growth have been the norm for some time, but it is easy to sense greater confidence lately among those making them. Fannie Mae's March Economic Developments report is predicting growth will slow from 3.1 percent in 2018 to 2.2 percent over the course of this year. The company's […]
  • Sales, Investor, Construction Products; Servicing Study; Citi's Penalty March 20, 2019
    Posted To: Pipeline PressWhy do us capital markets folks seem to speak a different language? To better understand what secondary marketing folks deal with every day, here’s a piece titled, “Best Execution in Mortgage Secondary Markets” for anyone wanting to know what’s involved after a loan funds. (The information hasn’t changed much, if at all.) […]
  • MBS Day Ahead: Fed Announcement: March Madness Edition March 20, 2019
    Posted To: MBS CommentaryToday's only key event will be the Fed Announcement , which is actually 3 events in 1. At 2pm, we'll get the policy announcement itself as well as the Fed's updated economic projections (aka, the "dots"). Then at 2pm, Jerome Powell begins the post-announcement press conference. If the statement itself is light […]
  • Builders Less Concerned about Material Costs March 20, 2019
    Posted To: MND NewsWireOne problem solved? Perhaps, but there are always others waiting in line. The National Association of Home Builders (NAHB) asks its new home builder members annually, as part of its January NAHB/Wells Fargo Housing Market Index survey, to name what they expect to be their top business problems in the coming year. […]

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