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Mortgage rates recovered some of their recent losses today, with most lenders moving back into Wednesday's territory. The improvement followed another round of rumors regarding Trump's Fed Chair selection process. Specifically, Jerome Powell was indicated as the frontrunner this time around. Here's why that's important. The Fed Chair (a role currently filled by Janet Yellen) is perhaps the most important person in the world when it comes to interest rate movement. While the Fed will ultimately be forced to adapt its rate policy to economic conditions, so many of the ups and downs we experience along the way are driven by the Fed's decisions. And the Fed Chair has a disproportionate amount of control over those decisions compared to anyone else at the Fed. In short, don't think of the Fed as
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Mortgage Rate Watch
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Mortgage rates recovered some of their recent losses today, with most lenders moving back into Wednesday's territory. The improvement followed another round of rumors regarding Trump's Fed Chair selection process. Specifically, Jerome Powell was indi... (read more) |
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Rob Chrisman
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The average age of a loan officer is 73. Okay, just kidding. But as anyone in the lending industry and others age, they begin to worry about things such as dementia. (Insert capital markets joke here.) Early detection is critical, and the University ... (read more) |
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Mortgage Rate Watch
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Mortgage rates are in a bit of trouble, having moved higher at the fastest pace since late June in the past few days. If you've had occasion to read an update on mortgage rates from most major media outlets today, the news is actually worse than you'... (read more) |
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MBS Commentary
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Yesterday afternoon's MBS Recap is a good read if you want a longer and more philosophical version of what I'm about to write (click the link to read it). The short version is quite simple . Bond yields are in an uptrend, and they'll be ... (read more) |
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Housing News
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In August, MND published a summary of an analysis of the current state of the adjustable rate mortgage (ARM). CoreLogic's senior professional economist, Archana Pradhan, wrote that while the product's best days are behind it, the near demise is proba... (read more) |
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MBS Commentary
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If you haven't seen Zoolander, you won't be familiar with Billy Zane declaring "It's a walk-off," thus beginning the runway modeling battle between Ben Stiller and Owen Wilson's characters. It's not the best line in the movie and I don't think ... (read more) |
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