MBS RECAP: LLPA Impact vs Powell Speech. Time to Lock?
Wed, 26 Aug 2020 20:21:53 GMT
Posted To: MBS CommentaryLLPA Impact vs Powell Speech. Time to Lock? Much has been made (by news media… not bond market participants) of Powell’s Jackson Hole (virtual) speech on Thursday. After all, a rethink of the Fed’s “framework” sound..[read more]
What’s Going On With Mortgage Rates? A Definitive Guide As Of August 26th, 2020
Wed, 26 Aug 2020 20:05:00 GMT
Posted To: Mortgage Rate WatchWith several major developments and interesting milestones in the mortgage world, I’m seeing a lot more confusion than normal. So let’s clear it up without too many extra words or meaningless rants. I heard rates were 1…[read more]
MBS Day Ahead: The New Showdown In The Bond Market
Wed, 26 Aug 2020 13:58:15 GMT
Posted To: MBS CommentaryThere’s a global pandemic. On the one hand, it seems to be improving. On the other, it’s responsible for a potentially permanent shift in the US labor market. On the one hand the federal government is spending trillio..[read more]
Purchase Applications Decline Even as Rates Move Lower
Wed, 26 Aug 2020 12:13:35 GMT
Posted To: MND NewsWireMortgage applications volume fell for the second time during the week ended August 21, declining 6.5 percent from the previous week according to the Mortgage Bankers Association’s (MBA’s) seasonally adjusted Market Composite In..[read more]
That Big Bad Fee on Refinances Has Been Delayed! Here’s What It Means
Tue, 25 Aug 2020 20:28:00 GMT
Posted To: Mortgage Rate WatchTwo weeks ago, Fannie and Freddie announced a new guaranty fee (aka “g-fee”) for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I’d highly recommend reading..[read more]
MBS RECAP: New Curveball as LLPA Just Got Delayed Until Dec 1
Tue, 25 Aug 2020 20:21:04 GMT
Posted To: MBS CommentaryNew Curveball as LLPA Just Got Delayed Until Dec 1 There are two huddle videos today. The newest and most relevant one appears below as normal. It references the old one which you can find here if you like. Why the change? Be..[read more]
New Home Sales Explode in the Midwest, Boosting National Numbers
Tue, 25 Aug 2020 16:02:09 GMT
Posted To: MND NewsWireNew home sales were expected to dip slightly in July after posting 13.8 percent growth in June and setting a 13-year high. Instead, the June sales were revised upward, from 776,000 to 791,000, bringing that month’s increase to ..[read more]
Home Price Gains Shrug off Covid Concerns
Tue, 25 Aug 2020 15:55:48 GMT
Posted To: MND NewsWireBoth the Federal Housing Finance Agency’s (FHFA’s) Housing Price Index (HPI) and the several S&P CoreLogic Case-Shiller indices showed price gains across the U.S. in June. Case-Shiller’s numbers showed more moderation in the ra..[read more]
MBS Day Ahead: After Last Week’s Victory, Bonds Are Already Facing a New Challenger
Tue, 25 Aug 2020 14:08:57 GMT
Posted To: MBS CommentaryAny conversation about momentum, victory, or defeat in the bond market must be prefaced with the acknowledgment that we’re dealing with what would historically be a very narrow range that’s very close to record lows. ..[read more]
AI, Forbearance, Comp Tools; Training and Events: Capital Markets
Tue, 25 Aug 2020 13:17:12 GMT
Posted To: Pipeline Press2019: Stay away from negative people. 2020: Stay away from positive people. Like it or not, depending on how “old school” you are, companies in recent years have wrestled with how to relate to younger employees, p..[read more]
MBS RECAP: More Defensive But Not Without Hope
Mon, 24 Aug 2020 19:49:16 GMT
Posted To: MBS CommentaryMore Defensive But Not Without Hope 2 weeks ago, a heavy slate of supply contributed to small-scale panic in the bond market. Tensions eased last week and technical ceilings were confirmed. With another slate of Treasury supp..[read more]
MBS Day Ahead: Bonds Carving Out a Low Range With No Concern Over Stocks
Mon, 24 Aug 2020 14:21:55 GMT
Posted To: MBS CommentaryLast week did a nice job of confirming a ceiling in Treasury yields after the previous week saw rates move sharply higher. At the same time the S&P hit a new record high and covid numbers continued to level off. Now at the st..[read more]
Finance, AE, Ops, LO Jobs; Customer Service, Income Tools; Agency Updates
Mon, 24 Aug 2020 13:21:49 GMT
Posted To: Pipeline PressWinter is coming. I don’t need a new coat to walk from my bedroom through the kitchen and into the dining room to work on this commentary. Who is buying neckties or new dress shoes, or spending money renting cars, going..[read more]
Best Housing Market Since 2007, But There’s a Catch
Fri, 21 Aug 2020 21:18:00 GMT
Posted To: Mortgage Rate WatchSeveral new reports confirm the housing market is soaring right now, but the headlines don’t tell the whole story. On Friday, the National Association of Realtors (NAR) reported July’s existing home sales came in at an a..[read more]
MBS RECAP: A Week of Reassurance For The Bond Market
Fri, 21 Aug 2020 21:17:13 GMT
Posted To: MBS CommentaryA Week of Reassurance For The Bond Market Last week saw the first major break higher after a calm, sustained moved toward lower rates that began in mid-June. This week had a chance to confirm the drama or push back against it..[read more]
Late-Stage Delinquencies are Surging, Especially Those With FHA Loans
Fri, 21 Aug 2020 16:08:48 GMT
Posted To: MND NewsWireLike the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Mortgage Bankers Association shows the effects of the COVID-19 pandemic fading a bit in early delinquency numbers but surg..[read more]
Existing Home Sales are Booming
Fri, 21 Aug 2020 15:38:34 GMT
Posted To: MND NewsWireExisting-home sales posted a second month of significant sales gains in July, building on a record 20.7 percent increase in June. The National Association of Realtors ® (NAR) said sales were at a seasonally adjusted 5.86 mi..[read more]
Forbearances are Leveling Out, With Long-Term Delinquencies now a Concern
Fri, 21 Aug 2020 15:29:37 GMT
Posted To: MND NewsWireThe financial impacts of the COVID-19 pandemic are beginning to emerge and while it appears the crisis initially hit homeowners hard, the duration of the problem is murky. Short term delinquencies are declining, with fewer home..[read more]
MSR, Conversion, EPO Products; Public Company Snapshots; LO and UW Jobs
Fri, 21 Aug 2020 14:13:54 GMT
Posted To: Pipeline PressRCIII writes, “I don’t know about you, but I’m ready for some precedented times.” But Tom Petty wrote, “Well, the good old days, may not return… And the rocks might melt, and the sea may b..[read more]
MBS Day Ahead: Now We’re Getting Somewhere
Fri, 21 Aug 2020 13:19:24 GMT
Posted To: MBS CommentaryCoronavirus obviously ushered in an era of record low rates. The ongoing challenges and uncertainties are fairly well understood. They have a wide spectrum of possible outcomes. As far as we can see at the moment, the baselin..[read more]
Custom Home Building is on a Roll
Thu, 20 Aug 2020 22:15:19 GMT
Posted To: MND NewsWireRobert Dietz, chief economist for the National Association of Home Builders (NAHB) has provided a couple of updates on housing construction trends taken from the Census Bureau’s Quarterly Starts and Completions by Purpose and D..[read more]
Mortgage Rates Are Actually Lower This Week
Thu, 20 Aug 2020 20:58:00 GMT
Posted To: Mortgage Rate WatchMortgage rates moved a bit lower today, on average, but that’s not what most of the mortgage-related headlines are saying today. Reason being, journalists and even many mortgage market participants rely heavily on Freddi..[read more]
MBS RECAP: MBS Underperforming Treasuries, But Broader Trends Are Decent
Thu, 20 Aug 2020 20:49:56 GMT
Posted To: MBS CommentaryMBS Underperforming Treasuries, But Broader Trends Are Decent The mortgage market continues coping with the combination of last week’s LLPA news and a generally high level of supply. One hurts bond prices relative to Trea..[read more]
MBS Day Ahead: Let’s Check In With European Bonds
Thu, 20 Aug 2020 14:01:31 GMT
Posted To: MBS CommentaryRealistically, Europe has been as big of a friend to US bond markets as the Fed. If it weren’t for Greek concerns and the mounting systemic crisis, US bond market pain in 2010/11 would have been much worse. That crisis ga..[read more]
Ops Jobs; Leads, Tech Tools; CFPB, LO Comp, G-Rate Legal Ruling in the News
Thu, 20 Aug 2020 13:06:16 GMT
Posted To: Pipeline PressIn these times that lenders describe as busy, profitable, and overheated, capital markets personnel are focused on margin & capacity management, staff burnout, servicing values, and warehouse capacity. With lenders upping the..[read more]