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Mortgage rates rose modestly today after spending 2 days at the best levels in nearly 8 months. Financial markets were tuned in to several key events with the power to cause volatility for rates today. Of these, the Senate testimony of former FBI Director Comey probably had the biggest spotlight. Rates were already coming under some pressure yesterday as Comey's prepared remarks were released, but bond markets (which dictate rates) didn't move quite enough for most lenders to adjust rate sheets. Instead, lenders waited for this morning to pass along the bond market weakness in the form of slightly higher rates. As it turns out, traders had done a fairly good job of getting in position for the expected outcome of the Comey testimony, and there wasn't nearly as much intraday volatility as there
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Mortgage Rate Watch
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Mortgage rates rose modestly today after spending 2 days at the best levels in nearly 8 months. Financial markets were tuned in to several key events with the power to cause volatility for rates today. Of these, the Senate testimony of former FBI Dir... (read more) |
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Housing News
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The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased fractionally in May, however the change in each of its internal components was decidedly more pronounced. The HPSI, based on six of the questions from Fannie Mae's monthly National Ho... (read more) |
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Housing News
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Home flipping, the practice of buying and then reselling the same property within a 12-month period, fell to the lowest level in two years during the first quarter of 2017. At the same time, the share of those "flips" using mortgage financing rose to... (read more) |
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MBS Commentary
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A few days ago, I laid out a bullish long-term case for bond markets. I could probably do something similar for a bearish case, but when it comes to bearish risks, it's easier if we forget about the longer-term and focus on short-to-medium-term... (read more) |
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Rob Chrisman
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No one has a crystal ball, but CNBC makes the point that, as a nation, home prices won't fully recover until 2025 , and that "price gains during the last housing boom were juiced almost entirely by an incredibly loose mortgage lending market that no ... (read more) |
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MBS Commentary
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Perhaps it had to do with yesterday's 1st round of Senate testimony or Comey's prepared remarks giving bond markets an unfriendly bump, but bonds ended up doing very little with today's much-anticipated Comey Q&A. Then again, not much cam... (read more) |
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