Fri, Jun 12 2015, 4:09 PM
The plight of underwater homeowners is proving to be pesky to
resolve if Zillow's latest numbers on negative equity are correct. The company said to...
Fri, Jun 12 2015, 2:22 PM
Bond markets began the day in weaker territory , following a pull-back in European bond markets overnight. The tenor would soon change as the the ru...
Thu, Jun 11 2015, 12:49 PM
There's a nice rally underway today, with 10yr yields down 6.2bps and Fannie 3.5s up just over 3/8ths of a point. The underlying motivation is an eve...
Thu, Jun 11 2015, 10:43 AM
Applications for the purchase of newly constructed
homes fell in May, a decline which the Mortgage Bankers Association (MBA)
attributed at least in ...
Thu, Jun 11 2015, 10:36 AM
A recent MBA "Chart of the Week" highlights the change in the number of
households by age from 2004 to 2014. Household formation was negative
fo...
Thu, Jun 11 2015, 7:32 AM
Every time we have a big, nasty sell-off --not the garden variety 15-20bps over a few days, but kind that takes 60bps higher in several weeks and sti...
Thu, Jun 11 2015, 5:24 PM
Mortgage rates were at their highest levels since early October as of yesterday afternoon, and in general, have been in the throes of the most aggr...
Thu, Jun 11 2015, 5:24 PM
Given the pace and scope of recent bond market weakness, there are more than a few traders that have open bets on rates moving higher--aka "shorts." ...
Thu, Jun 11 2015, 3:10 PM
Despite over two years of declines cash
sales continue to constitute more than one-third of total home sales. CoreLogic reported today that the shar...
Wed, Jun 10 2015, 10:43 AM
Yes, TRID is impacting lending, and thus borrowers. Wells Fargo's correspondent group announced the end of its "Single Close Construction" program...
Wed, Jun 10 2015, 9:50 AM
Americans got back to work during the week ended June 5 and mortgage
applications rebounded significantly .
Volume made up the ground lost during ...
Wed, Jun 10 2015, 7:33 AM
It's been a while since we've had a good, old-fashioned MBS chart . There's no particular reason for that. It's just that Treasuries have been and ...
Wed, Jun 10 2015, 5:26 PM
Another day, another chance for bond markets to continue their selling spree. It began in a bad way, no matter when you woke up . Asian markets onl...
Wed, Jun 10 2015, 5:25 PM
Mortgage rates continued pressing into new highs for 2015. Most lenders are now quoting conventional 30yr fixed rates 4.25% on top tier scenarios....
Wed, Jun 10 2015, 2:55 PM
For the third time this month a mortgage company, this one
in the process of dissolution , has been charged with violating the Loan
Originator Comp...
Wed, Jun 10 2015, 1:20 PM
The financial world is abuzz yet again with Greek debt deal headlines. And yet again, they are almost completely meaningless . Before you say to yo...
Tue, Jun 9 2015, 12:56 PM
The pain continues for bond markets, as does the phenomenon of movement being driven by the unseen hand . In other words, there hasn't been any sign...
Tue, Jun 9 2015, 11:37 AM
A survey of 16 big global lenders revealed that the total bill for legal matters has hit $300 billion .
Yesterday
the commentary mentioned...
Tue, Jun 9 2015, 7:34 AM
The most striking features of last month's trading levels were the clearly defined consolidations in rates, both at home and abroad. Not only were th...
Tue, Jun 9 2015, 5:31 PM
On an intraday basis, trading levels in Treasuries and MBS hit their weakest levels of the year today. The biggest moves of the day happened at 8:...
Tue, Jun 9 2015, 3:43 PM
Mortgage rates bounced back up to the highest levels of 2015 today. Yet again, it was a frustrating and seemingly serendipitous move, unable to be...
Tue, Jun 9 2015, 1:28 PM
It continues to be clear that the
foreclosure crisis is winding down while ongoing elevated levels of mortgage
distress mean it could be a long time...
Mon, Jun 8 2015, 12:43 PM
Bond markets were mixed overnight with European yields rising slightly and US yields falling slightly. This could be chalked up, rather simply, to th...
Mon, Jun 8 2015, 12:31 PM
While the trend will likely continue to reverse in the next few reports, refinancing, as a share of total originations, made an impressive recovery ...
Mon, Jun 8 2015, 10:25 AM
According
to the U.S. Census Bureau, 21.3 percent of the American population
(52.2 million people) participated in government assistance programs ...
Mon, Jun 8 2015, 7:34 AM
The European-led move lower in yields that began in early 2014 was like nothing we've seen in more than a decade. In terms of the market momentum it...
Mon, Jun 8 2015, 4:59 PM
The recent improved employment statistics which included an
acceleration in average hourly earnings and a reported increase in personal
income (a Ma...
Mon, Jun 8 2015, 4:54 PM
Thanks for reading, this has been my attempt to write a headline that made absolutely no one want to click and read the story. But facts are facts, a...
Mon, Jun 8 2015, 3:46 PM
Mortgage rates were just slightly lower today, but only erased a small portion of Friday's move to 2015 highs. Friday notwithstanding, today's rat...
Mon, Jun 8 2015, 2:08 PM
The percentage of total home sales coming from distressed
inventories continues to drop. CoreLogic
said on Monday that short sales and sales of own...
Fri, Jun 5 2015, 10:28 AM
Huh? National Donut Day? Most donut shops have a few employees, but in 2013 our Census Bureau tells us there were 23 million businesses without paid ...
Fri, Jun 5 2015, 7:42 PM
For the second time this week the
Consumer Financial Protection Bureau (CFPB) has filed in federal court against
a lender for unfair compensation p...
Fri, Jun 5 2015, 7:35 PM
If we went back to the beginning of June and asked ourselves "where do we think 10yr yields would be on Friday if Draghi doesn't commit to maintaining...
Fri, Jun 5 2015, 7:25 AM
NFP day is great. Nothing causes more widespread speculation on how a certain piece of economic data will report and how markets might react. Someti...
Fri, Jun 5 2015, 5:12 PM
Mortgage rates are officially having a bad June. It's not quite as bad as February, but February began with rates very close to all-time lows, and...
Fri, Jun 5 2015, 3:26 PM
Are those sought-after first-time homebuyers finally re-emerging? RealtyTrac said on Thursday that they may be
the reason that the average percent...
Fri, Jun 5 2015, 1:43 PM
Bond markets tanked after NFP this morning. This sort of thing is to be expected when payrolls print 280k vs a 225k forecast (and a 201k ADP print ...
Thu, Jun 4 2015, 10:58 AM
The availability of
mortgage credit continued to rise in May the Mortgage Bankers Association (MBA)
said today. Its Mortgage Credit Availability
I...
Thu, Jun 4 2015, 10:54 AM
"I
swear, if my memory was any worse I could plan my own surprise party."
Remember when you were a student? Research from the Fed finds total
st...
Thu, Jun 4 2015, 7:34 AM
Yesterday was a bad day. If you need to revisit it, or if you happened to knock yourself unconscious the first time or two you fell out of your chai...
Thu, Jun 4 2015, 5:25 PM
Most of today's trading activity was a function of previous trading--at least as far as the domestic session was concerned. If we count the overnight...
Thu, Jun 4 2015, 5:08 PM
Older Americans are being warned that ads
touting reverse mortgages "that seem too good to be true" might be just that. Rather slyly using a tag lin...
Thu, Jun 4 2015, 4:09 PM
Mortgage rates bounced back ever-so-slightly today, ultimately doing very little to erase the damage done so far this week. The most prevalently-q...
Thu, Jun 4 2015, 2:37 PM
Enforcement of compliance with the new RESPA/TILA disclosure
forms has been postponed . As appeared
inevitable after almost unanimous testimony ...
Thu, Jun 4 2015, 2:05 PM
Mortgage profits soared in the first quarter of 2015 the
Mortgage Bankers Association (MBA) said this week, nearly doubling the per loan net
pro...
Thu, Jun 4 2015, 1:03 PM
At the end of this morning's commentary, I discussed the possibility that the past few days have been an over-correction to May's month-end strength, ...
Wed, Jun 3 2015, 11:01 AM
There
is plenty of dialog and discussion in the lending industry. Certainly some of the conversation
involves the fact that, for the popular pres...
Wed, Jun 3 2015, 10:02 AM
The week ended May 29 was another of those holiday shortened weeks when the most relevant comment that can be made about mortgage application numbers ...
Wed, Jun 3 2015, 7:07 AM
By the time you read this, things may already have gotten serious. The ECB announcement is at 7:45am Eastern, and although global markets are highly ...
Wed, Jun 3 2015, 6:18 PM
Mortgage rates had an awful day today , and they were among the lucky ones. The true pain emanated from Europe, as has been the case so many times ...
