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It wouldn't be surprising to find both lenders and consumers suffering from whiplash following the first quarter of 2017. Mortgage rates, which shifted by as much as 30 basis points in either direction during the quarter, took the refinanceable population along for the ride. That population is defined by Black Knight Financial Services in its Mortgage Monitor as homeowners who can both qualify for refinancing and have the motivation to it. In any given week during the quarter, Black Knight says, "relatively small interest rate movements have increased or decreased the size of the refinanceable population by as much as 20 percent." For example, the 30-year fixed rate mortgage dropped below 4.0 percent on April 20 and that increased the refinance pool to 4.1 million, up 46 percent from the 2
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Housing News
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It wouldn't be surprising to find both lenders and consumers suffering from whiplash following the first quarter of 2017. Mortgage rates, which shifted by as much as 30 basis points in either direction during the quarter, took the refinanceable popul... (read more) |
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Housing News
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Construction spending dipped slightly in March, although privately funded spending held its ground and residential construction activity was at a higher pace than in February. The U.S. Census Bureau said on Monday that construction of all types was p... (read more) |
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MBS Commentary
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It's an action-packed week for global financial markets, with several major motivations to consider. First and foremost, this is the first day of a new month. Just as the last day of any given month can be volatile due to "month-end tradi... (read more) |
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Rob Chrisman
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Do you think the regulatory environment in residential lending is tough to navigate? Just think about who is going to regulate flying cars? Dust off the Jetson’s tapes: There is a litany of legal and regulatory questions posed by these machines... (read more) |
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Mortgage Rate Watch
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Mortgage rates were unchanged today, holding onto modest improvements seen yesterday. In many ways, the past 2 days have confirmed that rates are in limbo near the lower end of the post-election range. To be sure, they were definitively lower in mid-... (read more) |
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MBS Commentary
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Bond markets began the day in slightly weaker territory, with Treasuries following European yields higher in the overnight session. Domestic hours brought more selling pressure out of the gate with Q1 wage growth coming in higher than expecte... (read more) |
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