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Mortgage rates may have ebbed slightly higher today, but that only erased a fraction of the improvement seen over the past 2 days. Combined with the even stronger showing 2 weeks ago, this makes November the best month of 2018 in terms of mortgage rate improvement. All of the good times come with a price , however, as the first few days of the month saw rates move to their highest levels in more than 7 years. Nonetheless, anyone in the market to buy or refi has seen a meaningful improvement over the past 3 weeks. How meaningful is meaningful? Assuming a loan amount of $300,000, the average mortgage payment (30yr fixed, conventional) would be $45/mo lower this week vs last week, and $90/mo lower vs the beginning of the month. In terms of upfront costs (i.e. if you were paying points to keep
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Mortgage Rate Watch
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Mortgage rates may have ebbed slightly higher today, but that only erased a fraction of the improvement seen over the past 2 days. Combined with the even stronger showing 2 weeks ago, this makes November the best month of 2018 in terms of mortgage ra... (read more) |
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MBS Commentary
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In and of itself, today's trading session wasn't anything special. There wasn't much by way of economic data (just Chicago PMI, which fell on deaf ears) or scheduled events (several Fed speakers, but no market moving comments). Rather, ... (read more) |
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Housing News
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Financial concerns continued for independent mortgage banks and mortgage subsidiaries of chartered banks as they reported, on average, declining profit margins in the third quarter. The Mortgage Bankers Association's (MBA's) newly released Quarterly ... (read more) |
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Rob Chrisman
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As one Native American said, “Only a white man would cut two inches from the top of a blanket, sew it to the bottom, and think he has now has a longer blanket.” (Feel free to use that one wherever you like.) Winter is coming, with its inc... (read more) |
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Housing News
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Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 4.7 percent in October, up from 2.3 percent the previous month. The portfolio balance at the end of the period was $2.159 trillion compared to $2.151 ... (read more) |
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MBS Commentary
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Relative to the last 2 years of pain for bond markets, a sense of hope has emerged, seemingly overnight. That has to do with the fact that bonds (as benchmarked by 10yr Treasury Yields in this case) have only just broken below an important floo... (read more) |
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consumerfinancemonitor.com
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