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Mortgage Rates were higher again today, marking the 9th straight day without any improvement. 3.625% is quickly becoming the most prevalent conventional 30yr fixed quotes on top tier scenarios, though quite a few lenders remain at 3.5%. On an optimistic note, when losing streaks get this long in rates markets, we're increasingly likely to see at least one day of relief in the near term future. That said, it will take more than a day or two of strength to call the current trend into question. If it's not clear from the title, the tone, and the originator perspective below, the current trend is not your friend--at least not if you want rates to go lower in the short term. However, the trend can still serve a purpose. Because of its linearity and duration, it will be fairly easy to see when this
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Mortgage Rate Watch
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Mortgage Rates were higher again today, marking the 9th straight day without any improvement. 3.625% is quickly becoming the most prevalent conventional 30yr fixed quotes on top tier scenarios, though quite a few lenders remain at 3.5%. On an optimis... (read more) |
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Housing News
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Fannie Mae acknowledged last week that their form of Acknowledgement Agreement with lenders is " overly complicated and full of dense legal language" and, after consulting with a panel of warehouse lenders, is announcing a new model . An Acknowledgem... (read more) |
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MBS Commentary
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Bond markets offered a glimmer or two of hope last week as yields looked to be leveling off heading into Columbus Day weekend. In other words, 10yr Treasuries were operating at recent highs, but had least managed to push back in a stronger di... (read more) |
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Rob Chrisman
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I have received this from enough people I figured I’d pass it along. “It is a well-known fact that those people who most want to rule people are, ipso facto (by that very fact or act), those least suited to do it. To summarize the summary... (read more) |
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Housing News
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CoreLogic reported on Tuesday that all major indicators of housing distress declined by double digits over the last year. The company's August National Foreclosure Report has most of those measures back to levels of the early days of the housing cris... (read more) |
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Housing News
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As they have following other natural disasters, both Fannie Mae and Freddie Mac have announced that their "full menu of disaster relief policies" will be available to homeowners whose homes were damaged or destroyed by Hurricane Matthew. The GSEs' di... (read more) |
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