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  • MBS RECAP: Deceptively Relevant Econ Data But Range Prevails February 15, 2019
    Posted To: MBS CommentarySince Retail Sales rocked markets yesterday, perhaps bonds would be interested in responding to economic data again today? This question seemed to have been answered when bonds apparently jumped following this morning's 8:30am economic data. The only problem was that the data in question included NY Fed Manufacturing and Import/Export Prices. These […]
  • "Homeowners are in Great Shape," Delinquencies Improve Across the Board February 15, 2019
    Posted To: MND NewsWireMortgage loan delinquencies were down from the third quarter of 2018 in the fourth quarter. The Mortgage Bankers Association (MBA) said the improvements held across all loan types and all stages of delinquency although there was a slight uptick in foreclosure starts. The delinquency rate for mortgage loans on one-to-four-unit residential properties […]
  • Mortgage Rates in a Holding Pattern February 15, 2019
    Posted To: Mortgage Rate WatchMortgage rates were slightly higher today, marking the 6th day in a row where they've reversed course versus the previous day. This is the sort of behavior we see when underlying financial markets are having a hard time making up their mind (or are simply waiting for something before committing to […]
  • MBS Day Ahead: Range Trade Likely to Dominate Heading Into Holiday Weekend February 15, 2019
    Posted To: MBS CommentaryRates were at long term highs in early November 2019. Several global economic risks were beginning to swirl at the same time. These included a slowdown in German GDP, the weakest Chinese retail sales in 15 years, Italian budget drama, and a Federal Reserve that didn't seem to care about big stock […]
  • GSEs Continue Financial Winning Streaks February 15, 2019
    Posted To: MND NewsWireFreddie Mac and Fannie Mae (the GSEs) reported solid financial results for both the fourth quarter and the entirety of the 2018 fiscal year on Thursday. The annual income was higher for both GSEs , although each posted a decrease quarter-over-quarter. Fannie Mae's total comprehensive income for the fourth quarter was $3.2 […]
  • Sales Jobs; Construction, Marketing Products; Impressive Agency Earnings February 15, 2019
    Posted To: Pipeline PressHuh? Radian was recently in takeover talks ? I only know what I read in the newspapers! Sometimes I wonder if everyone isn’t in M&A talks to one degree or another, and rumors continue to swirl about a publicly-held bank in the Northwest spinning off its mortgage division. There’s a lot going […]
  • Fewer Plan to Buy, But Others Aren't Giving Up February 15, 2019
    Posted To: MND NewsWireThe perceptions, expectations, and plans of prospective homebuyers appear to be undergoing a transition according to results from the most recent Housing Trends survey report from the National Association of Homebuilders (NAHB). Rose Quint writes about the fourth quarter 2018 survey in a five-part series in the association's Eye on Housing Blog. […]
  • Mortgage Bankers Estimate 29% Surge in New Home Sales February 14, 2019
    Posted To: MND NewsWireWhile we have not yet seen figures from the Census Bureau for December let alone January, the Mortgage Bankers Association (MBA) is reporting a surge in new home sales last month. Information from MBA's Builder Application Survey (BAS) indicates that those sales, while unchanged from January 2018, increased by 43 percent compared […]
  • MBS RECAP: Dormant Data Returns in a Big Way February 14, 2019
    Posted To: MBS CommentaryOf all the reports silenced by the government shutdown, Retail Sales was probably the most missed. It didn't help that December is a rather important month for such data. December's report finally arrived today, and it made waves . While there has been some question as to how quickly markets would be […]
  • Rates Are Better Today, But Not Back to 1-Year Lows February 14, 2019
    Posted To: Mortgage Rate WatchMortgage rates recovered today after rising to the highest levels in a week as of yesterday. The improvement followed a much-weaker-than-expected Retail Sales report--something investors have been waiting on for nearly 2 months due to the government shutdown. Retail sales comprise an important part of economic activity, and the economy is […]
  • MBS Day Ahead: Retail Sales is Back! Will Traders Pretend Nothing Changed? February 14, 2019
    Posted To: MBS CommentaryPerhaps it wasn't their fault, but several top tier economic reports up and left us during the government shutdown. We knew we'd see them again at some point, but in the meantime, we had to adapt to gleaning economic cues elsewhere. Moreover, we're left to wonder what the government shutdown time may […]
  • MBS RECAP: Bonds Lose Ground on Shutdown Deal Hopes and Inflation Data February 13, 2019
    Posted To: MBS CommentaryAt first glance, this morning's weakness was all about the Consumer Price Index (CPI)--the most widely-followed inflation report. In order to make a case for CPI causing the weakness, we'd have to assert that a core year-over-year reading of 2.2% versus a forecast of 2.1% was significant, even as monthly headline inflation […]
  • Highest Mortgage Rates in a Week After Today's Move February 13, 2019
    Posted To: Mortgage Rate WatchMortgage rates hadn't changed much over the past few business days, even though they arguably should have moved a bit higher yesterday. That made today's adjustment slightly more abrupt. Why was there an adjustment? Mortgage rates are based primarily on the trading levels in the bond market. In turn, the bond […]
  • NAHB Takes a Detailed Look at First-Time and Trade-up Buyers February 13, 2019
    Posted To: MND NewsWireA total of 8.8 million households bought homes in the two years preceding the most recent American Housing Survey (AHS). The survey, sponsored by the Department of Housing and Urban Development, is conducted by the Census Bureau every two years. The AHS is a nationally representative survey of residential structures in the […]
  • Marketing Products; Lender Legal News; OB's Index, Flood Insurance, Ditech's Ch. 11 February 13, 2019
    Posted To: Pipeline PressAmazon accounts for nearly 50% of the ecommerce activity in the United States. With that kind of delivery service, it isn’t hard to see why malls are suffering. Which is why, all across the nation, malls are being re-developed, re-purposed, whatever you want to call it, into mixed-use and housing projects. Projects […]
  • MBS Day Ahead: How Inflation Matters in The Bigger Picture February 13, 2019
    Posted To: MBS CommentaryThis morning brings the week's first major economic report in the form of the Consumer Price Index (CPI)--one of the biggest inflation reports. Inflation has been an on-again, off-again market mover for the bond market over the past 10 years for a few reasons. That's an assertion that makes old school market […]
  • Global Concerns Slow Mortgage Apps, Even With Lower Rates February 13, 2019
    Posted To: MND NewsWireMortgage applications have now fallen in six of the last eight weeks. The Mortgage Bankers Association (MBA) said its seasonally adjusted Market Composite Index, a measure of application volume, fell lost another 3.7 percent on a seasonally adjusted basis during the week ended February 8. On an unadjusted basis the composite was […]
  • MBS RECAP: Shutdown Deal Hurts Bonds, But Mostly Helped Stocks February 12, 2019
    Posted To: MBS CommentaryIt's hard to say exactly where stocks and bonds would be today absent the news from yesterday night regarding a possible shutdown deal. Both sides of the market were already in the process of bouncing as of last Friday--with yesterday's closing levels acting to extend that move. The shutdown news didn't hut […]
  • How The Shutdown Is Affecting Mortgage Rates February 12, 2019
    Posted To: Mortgage Rate WatchMortgage rates were roughly unchanged yet again today, although the average lender was charging microscopically higher fees compared to yesterday. The key ingredient in today's market movement (which ultimately translates to mortgage rate movement) was the promise of a deal to avert another government shutdown at the end of the week. […]
  • NAR: Home Price Gains at a "Healthier" Pace February 12, 2019
    Posted To: MND NewsWireAn asset bubble can burst, or it can develop a slow leak, and float more or less gradually back to normal levels. The National Association of Realtors'® (NAR's) quarterly report on existing homes and metro home sales seems to indicate that the housing market, where skyrocketing prices were a concern not that […]

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