Thu, Oct 13 2016, 9:12 AM
Even though yields have made new intraday highs on 9 out of the last 9 days, we may have seen some early clues about the selling trend leveling-off....
Thu, Oct 13 2016, 5:04 PM
Corrections and consolidations are a natural part of market movements. It's uncommon for losing streaks to last more than 8 straight days without rep...
Thu, Oct 13 2016, 4:13 PM
Mortgage Rates managed to make modest gains today, moving just slightly lower for the average lender. That's a welcome development after 10 straight d...
Wed, Oct 12 2016, 9:51 AM
“This is a case about executive power and individual liberty. The U.S. Government’s executive power to enforce federal law against private citizens…is...
Wed, Oct 12 2016, 9:17 AM
The Mortgage Bankers Association (MBA) reported that mortgage applications were down significantly during the week ended October 7, probably respondin...
Wed, Oct 12 2016, 9:12 AM
Today brings the release of the MINUTES from the most recent FOMC meeting. This is distinct event from the ANNOUNCEMENT that happened about 3 weeks...
Wed, Oct 12 2016, 5:28 PM
No one was really sure what the Fed Minutes possibly could have said to surprise markets, but that didn't stop traders from pricing-in a bit of defe...
Wed, Oct 12 2016, 4:33 PM
In and of itself, today wasn't too bad of a day. Mortgage Rates were only slightly higher, and were generally unfazed by the release of the Minutes fr...
Wed, Oct 12 2016, 1:31 PM
Anyone who has been paying attention must know that the national homeownership rate, which has been dropping for over a decade , is now at a 50-year l...
Wed, Oct 12 2016, 1:17 PM
A federal appeals court has set aside a massive fine against mortgage lender PHH Corporation and declared that the Consumer Financial Protection Burea...
Tue, Oct 11 2016, 9:57 AM
Fannie Mae acknowledged last week that their form of Acknowledgement Agreement with lenders is " overly complicated and full of dense legal language" ...
Tue, Oct 11 2016, 9:49 AM
As they have following other natural disasters, both Fannie Mae and Freddie Mac have announced that their "full menu of disaster relief policies" will...
Tue, Oct 11 2016, 9:43 AM
CoreLogic reported on Tuesday that all major indicators of housing distress declined by double digits over the last year. The company's August Nationa...
Tue, Oct 11 2016, 9:35 AM
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...
Tue, Oct 11 2016, 9:21 AM
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...
Tue, Oct 11 2016, 4:46 PM
Bond markets were weaker out of the gate this morning as the US got caught up with the rest of the world after a "risk-on" Monday session for most o...
Tue, Oct 11 2016, 3:59 PM
Mortgage Rates were higher again today, marking the 9th straight day without any improvement. 3.625% is quickly becoming the most prevalent convention...
Fri, Oct 7 2016, 12:44 PM
Fannie Mae's Home Purchase Sentiment Index (HPSI), which hit an all-time high of 86.5 in July, has now retreated for two consecutive months. The index...
Fri, Oct 7 2016, 10:50 AM
The Mortgage Bankers Association (MBA) said credit availability increased slightly in September. The Association's Mortgage Credit Availability Index ...
Fri, Oct 7 2016, 10:47 AM
Here’s a great note I received from an originator in the Washington DC area: “I have a borrower who works for a Congressman. Their loan was denied bec...
Fri, Oct 7 2016, 9:56 AM
The rest of the day will be all about bond markets sorting out their reaction to this morning's decent NFP numbers. Payrolls hit 156k in September, s...
Fri, Oct 7 2016, 4:07 PM
Let's clear this up at the outset: when we talk about "volatility" these days, it's not the same volatility that presided over some of the multi-poi...
Fri, Oct 7 2016, 2:46 PM
Mortgage Rates were modestly higher today, despite a weaker-than-expected Employment Situation (aka NFP, nonfarm payrolls, or simply "the jobs report"...
Thu, Oct 6 2016, 11:28 AM
In the first part of a series of article Market Pulse CoreLogic Principal Economist Mark Liu looked at the possibility that a new housing "bubble" was...
Thu, Oct 6 2016, 10:18 AM
With the temporary postponement of the MBAC (Carolinas) conference, and the residents of Florida wondering about all the money spent on sand recently,...
Thu, Oct 6 2016, 10:06 AM
Things continue to be serious for bond markets (MBS Live members already have their first alert on the day--a rarity before 10am--as well as a gener...
Thu, Oct 6 2016, 5:33 PM
Bond markets were already fairly close to the important technical levels near 1.75% (10yr yields) earlier this morning, and they continued getting pu...
Thu, Oct 6 2016, 4:11 PM
Mortgage Rates didn't move much today compared to yesterday's latest levels, but that's the only way to view them as being 'unchanged.' Even so, as is...
Wed, Oct 5 2016, 9:58 AM
Research by the Appraisal Institute finds the number of appraisers has declined 22% since 2007 and 60% are over 50 years old. Aging? Yes, nature bats ...
Wed, Oct 5 2016, 9:25 AM
You might remember some seemingly dramatic headlines from early September when rates attempted their first big break of the dominant range (e.g. "Yes ...
Wed, Oct 5 2016, 8:52 AM
Declining rates, in one case returning to July 2016 levels, stoked mortgage application activity during the week ended September 30. The Mortgage Bank...
Wed, Oct 5 2016, 4:42 PM
It was a pretty straightforward trading day considering what's at stake in the bigger picture. Bonds were under slight pressure overnight, but were...
Wed, Oct 5 2016, 3:43 PM
Mortgage Rates were higher again today, following much stronger-than-expected economic data. A key index that tracks the health of the services sector...
Tue, Oct 4 2016, 10:10 AM
Prices increases escalated again on a year-over-year basis in August according to information released on Tuesday by CoreLogic. The company's Home Pri...
Tue, Oct 4 2016, 10:07 AM
Regions, BB&T, Chase, Wells Fargo… the list goes on. They aren’t the first, and won’t be the last, but the Department of Justice tells us that Salt La...
Tue, Oct 4 2016, 9:55 AM
There are no significant economic reports or scheduled events on tap for today. This will give us an opportunity to feel out the new trading ideas,...
Tue, Oct 4 2016, 3:51 PM
Bonds tanked today and at first glance, there weren't any great explanations as to why. But headlines quickly surfaced regarding the European Central...
Tue, Oct 4 2016, 2:54 PM
Mortgage Rates moved significantly higher today, relative to recently narrow ranges. It's enough to bring the most prevalent conventional 30yr fixed q...
Tue, Oct 4 2016, 2:16 PM
In the last four years housing prices, according to CoreLogic's Home Price Index (HPI) have risen 40 percent. So, are we heading toward a repeat of th...
Mon, Oct 3 2016, 11:17 AM
Construction spending in August declined slightly from its July pace the Census Bureau said on Monday. It was the third consecutive month it has falle...
Mon, Oct 3 2016, 10:48 AM
Welcome to the first business day of the 4th quarter! For another first, on this date in 1955 the first episode of Captain Kangaroo aired. Just think ...
Mon, Oct 3 2016, 9:15 AM
As October begins, bond markets are pretty close to trading levels seen at the end of August--close enough to call September a "flat month" anyway. ...
Mon, Oct 3 2016, 5:41 PM
Almost like clockwork, bond markets weakened JUST enough to cast doubt on their commitment to reentering the sub-1.60% range. This follows a week of ...
Mon, Oct 3 2016, 3:47 PM
Mortgage Rates were higher today, with most lenders at their highest levels in nearly 2 weeks. The bond markets that underlie mortgage rate movement r...
Mon, Oct 3 2016, 2:24 PM
In its "first look" at August mortgage performance data Black Knight noted that the Single Month Mortality (SMM) or prepayment rate for the month had ...
Fri, Sep 30 2016, 10:35 AM
Are you sure that you want to keep originating FHA loans? There’s a lot of profit per loan, but it is easy to see why some companies like Chase have r...
Fri, Sep 30 2016, 9:14 AM
As we approach the rest of the trading day, keep the info from this month/quarter-end bond buying primer in mind. Remember that the bond market unoff...
Fri, Sep 30 2016, 5:04 PM
While there has been a good amount of volatility in September, it was fairly flat, relative to August's latest levels. Up until this week, that was...
Fri, Sep 30 2016, 3:47 PM
Mortgage Rates were mixed today, with some lenders in slightly weaker territory while others offered modest improvements versus yesterday. The dichoto...
Fri, Sep 30 2016, 1:54 PM
The second quarter Mortgage Metric Report from the Office of Comptroller of the Currency (OCC) shows a universe of mortgage loans that are performing ...
