Wed, May 18 2016, 3:57 PM
Fannie Mae has again downgraded expectations for economic growth in 2016. Doug Duncan, senior vice president and chief economist and the ESR Macroeco...
Tue, May 17 2016, 10:09 AM
Permits for residential construction reversed a four-month slide in April and housing starts bounced back from a sharp March decline. The increases ...
Tue, May 17 2016, 8:59 AM
Here’s something the funders can try in the lunch room today: bet a shipper that they can't catch a dropped dollar bill with their fingers.
Last ...
Tue, May 17 2016, 8:22 AM
"Bad" is a relative term, but momentum may be shifting
Today's trading will be pivotal in determining that
The stakes are not too high, for now ...
Tue, May 17 2016, 5:34 PM
2 things: tomorrow's FOMC Minutes and Today's Dell corporate bond
Both put pressure on bond markets
majority of weakness was in afternoon ...
Tue, May 17 2016, 4:37 PM
Mortgage rates moved higher today as investors sold assets ahead of tomorrow's Fed Minutes. Asset prices move lower when sellers outweigh buyers, a...
Mon, May 16 2016, 10:38 AM
The index that measures builder confidence in the new home market was unchanged in May for the fourth straight month the National Association of H...
Mon, May 16 2016, 9:22 AM
The European Central Bank has been collecting data on cyber-instances at 18 major banks as part of a pilot program that will be expanded to other le...
Mon, May 16 2016, 9:03 AM
Bonds have stayed strong, despite apparent headwinds
Technicals suggest we're due for a bounce
Such a bounce could still be part of a broader, p...
Mon, May 16 2016, 5:22 PM
Despite a mortgage lending environment that is both the most conservative and safest we have ever seen, David H. Stevens. President and CEO of the Mor...
Mon, May 16 2016, 5:20 PM
Bond markets began in slightly weaker territory and kept losing ground
Most of the losses were in by 10am as corporate issuance became the trade...
Mon, May 16 2016, 4:53 PM
Mortgage rates held surprisingly steady today, even though underlying bond markets were in noticeably weaker territory. As bonds weaken, rates norm...
Fri, May 13 2016, 10:52 AM
Most of the categories covered by the Mortgage Bankers Association's (MBA's) 1 st quarter National Delinquency Survey are now back to pre-housing cri...
Fri, May 13 2016, 10:44 AM
Applications to purchase new homes experienced a
sharp drop in April, falling 11 percent from March. But the Mortgage Bankers Association (MBA),
wh...
Fri, May 13 2016, 10:36 AM
Critics of mortgage companies owned by money management firms (versus family or employee-owned companies) will often say that equity firms are in it f...
Fri, May 13 2016, 8:23 AM
10yr yields still consolidating in bigger picture.
"triangles" often throw head-fakes
Stocks' fate still unclear
Retail Sales is only big-...
Fri, May 13 2016, 5:49 PM
Modestly strong overnight session gave way to losses following Retail Sales data
Bonds never went too red and then gradually found footing
No ...
Fri, May 13 2016, 5:18 PM
Mortgage rates found their footing today, moving sideways to slightly lower after losing ground the past two days. Earlier this week, rates hit the...
Thu, May 12 2016, 10:50 AM
Fannie Mae continues to dribble out findings from its Q1 Mortgage Lender Sentiment Survey®. The latest installment is an entry on the company's FM C...
Thu, May 12 2016, 9:57 AM
Lenders can make, and lose, plenty of money on a) income from servicing, and b) changes in value of that servicing. Of course all the news about servi...
Thu, May 12 2016, 8:50 AM
1.72 has been more of a roadblock than any other level for 10yr yields
We're currently at risk of bouncing there
Today's data may not help, bu...
Thu, May 12 2016, 5:10 PM
bond markets took a hit overnight and never fully recovered
Yields topped out heading into the NYSE open and again after the auction
30yr auctio...
Thu, May 12 2016, 4:48 PM
Mortgage rates moved higher again today, rising to the highest levels since last Thursday. That fact is contrary to the most of the mortgage-rate-r...
Wed, May 11 2016, 9:13 AM
The other day I was reading about customer loyalty programs. My cat Myrtle was sitting nearby, and seemed to have a look on her face as if to ask, “Ho...
Wed, May 11 2016, 8:37 AM
Despite mortgage rates that continue to hover near 2016 lows, mortgage application activity was essentially flat during the week ended May 6. Refin...
Wed, May 11 2016, 8:35 AM
Corporate issuance expected to continue
Treasury Auction cycle in full swing with 10's today and 30's tomorrow
Overseas auctions add to global s...
Wed, May 11 2016, 5:36 PM
Quiet overnight session and AM hours
unfazed by sharp gains in oil prices
bonds rallied into the afternoon and especially after the auction
1...
Wed, May 11 2016, 5:07 PM
Mortgage rates were very slightly higher today. That's counterintuitive because bond markets were slightly stronger, and that almost always coincid...
Wed, May 11 2016, 2:09 PM
Completed foreclosures were up in March, with a substantial increase compared to February, but continued to fall on an annual basis. CoreLogic said t...
Tue, May 10 2016, 10:41 AM
The net number of consumers who told Fannie Mae surveyors in April they think it is currently a good time to sell a house soared in April. However,...
Tue, May 10 2016, 10:34 AM
“Well, shakin' my moneymaker ain't ever made me a dime! And there ain't no sugar for you in this shaker of mine!” So sing Maddie and Tae. Conversely, ...
Tue, May 10 2016, 9:51 AM
The past 2 sessions only look boring on the surface
Beneath the surface, bonds have been coping with a huge glut of corporate issuance
What does...
Tue, May 10 2016, 5:38 PM
Bonds weakened initially, but bounced back during European hours
Bonds also defied rising stock prices to hold their ground
Bonds also defied ...
Tue, May 10 2016, 3:53 PM
Mortgage rates didn't move any lower today, but they earned an important distinction nonetheless. As of today, you'd have to go back 3 full years t...
Mon, May 9 2016, 10:42 AM
At a car dealership: "The best way to get back on your feet - miss a car payment.” Some believe that the CFPB has shifted its spotlight, temporarily, ...
Mon, May 9 2016, 10:09 AM
Limited data and events this week to motivate strong momentum
broader trend looking like a consolidation pattern
first major break out of that p...
Mon, May 9 2016, 5:25 PM
Bigger picture consolidation continues but no bounce toward higher rates yet
Quiet overnight session; bonds rally steadily through domestic close
...
Mon, May 9 2016, 4:45 PM
Mortgage rates moved sideways today, taking them one step closer to officially claiming the title of "3 year lows." Tomorrow marks the three year a...
Mon, May 9 2016, 1:00 PM
Is flipping back in vogue? CoreLogic, in a two-part article published in its blog says activity is up, but so far we are seeing nothing like the lev...
Fri, May 6 2016, 10:51 AM
Distressed properties represented a smaller share of all home sales once again in February. CoreLogic reports that 11.1 percent of closed sales durin...
Fri, May 6 2016, 10:48 AM
In releasing its first quarter financial results on Thursday Fannie Mae surprised some by not following Freddie Mac down the rabbit hole. The larger ...
Fri, May 6 2016, 10:47 AM
Are low-down payment buyers beginning to benefit from a price war? The Urban Institute says that the Federal Housing Market has had an edge with ho...
Fri, May 6 2016, 10:04 AM
In residential lending banks, and regulators, fret about non-banks. Do they have enough capital to originate and service loans? And everyone frets abo...
Fri, May 6 2016, 8:31 AM
NFP used to be one of the only games in town when it came to market movement
That's decreasingly true
Even though it can still definitely have a...
Fri, May 6 2016, 6:29 PM
Bonds had an OK day overall, but MBS stuck it to Treasuries
NFP 160k vs 202k forecast. Nothing interesting re: wages
Fannie 3.0s ended 1 tick...
Fri, May 6 2016, 5:09 PM
Mortgage rates moved lower today, following after the labor department reported lower-than-expected job creation in the month of April. Interesting...
Thu, May 5 2016, 9:49 AM
New programs offering low downpayment options for GSE loans weren't enough to compensate for more stringent jumbo loan standards in April. This resul...
Thu, May 5 2016, 9:45 AM
May is Older Americans Month. Underwriters probably know that about 21% of the labor force is comprised of men 65 and older and only 13.5% of women in...
Thu, May 5 2016, 9:07 AM
Bonds haven't been moving directionally in the big picture
Unless that direction is "sideways"
Let's take a step back and observe "the triangle...
Thu, May 5 2016, 4:58 PM
Heavy corporate bond issuance added pressure in AM
After that, no more sellers left in bond markets
10yr yields pulled a 6bp reversal to end 3.3...
