Wed, Jul 2 2014, 8:54 AM
Even as
mortgage interest rates retreated across the board last week Mortgage
application volume remained essentially unchanged . The Mortgage Ban...
Wed, Jul 2 2014, 7:42 AM
Thursday approaches, bringing with it a glut of significant economic data, an ECB Announcement, and an early close in observance of Independence Day. ...
Wed, Jul 2 2014, 6:36 PM
Love it or hate it, ADP data matters when it's as far from consensus as it was this morning (otherwise, it's been having less and less of an impact). ...
Wed, Jul 2 2014, 5:36 PM
Mortgage rates moved higher today ,
once again at faster pace than most of the recent movement higher or
lower. The weakness in mortgage market...
Tue, Jul 1 2014, 12:10 PM
Simply put, there's been a moderate, but pervasive amount of bond market weakness intact ever since yesterday's quarter-end trading wrapped up. As we...
Tue, Jul 1 2014, 10:57 AM
Home
prices enjoyed a 27 th straight month of year-over-year growth in May
CoreLogic said today, but noted that those gains are no longer in the ...
Tue, Jul 1 2014, 10:47 AM
Yes, smaller lenders sue each other. The latest verdict announced was a decision between Stearns and Prospect Mortgage . And we have the latest set...
Tue, Jul 1 2014, 7:46 AM
With the end of the month/quarter out of the way, bond markets may now have more capacity to tune in to the week's economic data. But when quarter-en...
Tue, Jul 1 2014, 4:46 PM
One theme dominated the day: changing of the guard between June/Q1 trading and July/Q2. Out with the old, in with the slightly less old, but not fund...
Tue, Jul 1 2014, 4:02 PM
Mortgage rates finally made a move higher
today as financial markets transitioned from 2nd to 3rd quarter trading
strategies. Most frequently,...
Tue, Jul 1 2014, 2:06 PM
Federal and state regulatory
agencies have issued final guidance to financial institutions under their
jurisdiction regarding home equity lines of c...
Tue, Jul 1 2014, 1:46 PM
Construction spending in the U.S. was
essentially flat in May although there were gains from one year earlier. A small gain in spending by the pub...
Mon, Jun 30 2014, 12:05 PM
While the overnight sessions was relatively uneventful, the first half of the domestic session has seen some decent volatility . After starting out ...
Mon, Jun 30 2014, 10:32 AM
There was encouraging home market news
from the National Association of Realtors® (NAR) this morning. The association's Pending Home Sales Index
s...
Mon, Jun 30 2014, 10:02 AM
Suddenly
the entire industry seems interested in three things: using the Federal
Home Loan Banks as a pseudo-warehouse line, jumbo deals, and
fo...
Mon, Jun 30 2014, 7:27 AM
Pound for pound, this is one of the busiest weeks of the year . There are relevant economic reports every day as well as Fed speakers and the last t...
Mon, Jun 30 2014, 3:50 PM
Considering that today's trading range wasn't meaningfully wider than Friday's AND that closing prices look like they'll fall inside Friday's range, t...
Mon, Jun 30 2014, 3:40 PM
The Federal Housing Finance Agency said
on Friday that Freddie Mac and Fannie Mae continue to complete thousands of
foreclosure prevention actions i...
Mon, Jun 30 2014, 2:49 PM
Mortgage rates were unchanged today.
More often than not, when the average rate is unchanged, it's due to a
balance between some lenders offer...
Fri, Jun 27 2014, 12:33 PM
Heading into today, we were prepared for there to be no particular rhyme or reason behind market movements. Money managers are primarily focused on...
Fri, Jun 27 2014, 10:09 AM
This
week I have been fortunate to spend some time with members of the
Mortgage Bankers of Hawaii. Honolulu, like so many other areas, has its
s...
Fri, Jun 27 2014, 7:42 AM
The actual end of the quarter isn't until Monday, but it's not uncommon for market participants to get end-of-quarter (or end-of-month for that matter...
Fri, Jun 27 2014, 5:54 PM
For a third straight day, bond markets improved into the domestic session and gave back gains in the afternoon (chart below). Of those three days, to...
Fri, Jun 27 2014, 5:09 PM
Mortgage rates moved lower again ,
with the best options available in the morning hours. After that, bond
markets including MBS (the mortgage-b...
Fri, Jun 27 2014, 2:39 PM
The U.S. housing recovery should regain its
footing, but also faces a number of challenges .
Tight credit, still elevated unemployment, and mounti...
Fri, Jun 27 2014, 2:16 PM
RealtyTrac
recently analyzed residential sales over the year that ended in March to
determine what drives discounts in the market value or premium...
Fri, Jun 27 2014, 1:52 PM
The
percentage of current and performing mortgages serviced by large national and
federal savings banks improved by more than a percentage point dur...
Thu, Jun 26 2014, 12:31 PM
The Office of Comptroller of the Currency's (OCC) National Risk Committee (NRC) pronounced the financial position
of federally chartered institutions...
Thu, Jun 26 2014, 12:10 PM
As we discussed in The Day Ahead , bond markets were sending signals that they were embarking on a trend of improvement. The caveat was that those s...
Thu, Jun 26 2014, 11:15 AM
The ABA
reports community banks now spend about 15% of revenue
on compliance to meet regulatory requirements. True, the cost of doing
busine...
Thu, Jun 26 2014, 7:42 AM
In at least 2 discussions on MBS Live yesterday, I referenced the current technical landscape in a clever way by saying the biggest risk to the analys...
Thu, Jun 26 2014, 5:55 PM
For a second day, bond markets and/or mortgage rates (take your pick) frolicked outside the walls of the castle. In this case, that castle is "the ra...
Thu, Jun 26 2014, 4:52 PM
Mortgage rates moved just slightly lower on average, though some lenders were unchanged or higher. The most prevalently quoted conforming 30yr fi...
Wed, Jun 25 2014, 12:27 PM
The Federal Housing Finance Agency (FHFA) is making
another attempt to reach homeowners who might benefit from its Home Affordable
Refinance Progr...
Wed, Jun 25 2014, 12:14 PM
Freddie Mac said today that the U.S.
housing market is sending mixed signals .
Most markets, according to the company's Multi-Indicator Market Ind...
Wed, Jun 25 2014, 12:11 PM
The
Office of Inspector General for the Federal Housing Finance Agency (OIG-FHFA)
has completed an evaluation of how well FHFA oversees Freddie Mac ...
Wed, Jun 25 2014, 12:04 PM
I
was recently walking in a large city, on my way to do a warehouse field
exam, when a young man on a skateboard passed me going the other
direc...
Wed, Jun 25 2014, 11:56 AM
It's been a nice, straightforward morning for bond markets. Data was much weaker than expected and bonds rallied as a result.
That said, it's not...
Wed, Jun 25 2014, 9:14 AM
Mortgage Applications slowed for the second straight time last week but
the loss was modest compared to the 9.2 percent plunge during the week that...
Wed, Jun 25 2014, 7:42 AM
Bond market participation is such a big and complex thing that the true nature of cause and effect can only be guessed at. Some guesses are more edu...
Wed, Jun 25 2014, 5:31 PM
If you happened to look at MBS/Treasuries around 8:35am, the day was looking pretty great. But that ended up being the best of it, and a long, slow s...
Wed, Jun 25 2014, 3:48 PM
Mortgage rates fell nicely today
following the much weaker-than-expected reading on Q1 GDP. The
improvement takes average rates to their lowes...
Tue, Jun 24 2014, 12:56 PM
The U.S.
foreclosure inventory rate dropped below 2 percent in May for the first time
since the summer of 2008 . The rate,
which reflects the p...
Tue, Jun 24 2014, 11:42 AM
Technically, MBS and Treasuries are both in positive territory when compared to yesterday's closing levels. That said, those closing levels were the ...
Tue, Jun 24 2014, 11:25 AM
New home sales rose at the fastest pace in more than 20 years last month, hitting levels not seen since 2008. The Census
Bureau and the Department...
Tue, Jun 24 2014, 11:01 AM
There are 2 million "missing households" in
the US - which represents pent up demand for new residences in the US.
These are Millennials who are...
Tue, Jun 24 2014, 10:36 AM
Depending on which report you read this morning - that from
Case-Shiller or from the Federal Housing Finance Agency (FHFA), home
prices in
April ...
Tue, Jun 24 2014, 7:51 AM
While tomorrow arguably hosts the week's most important economic report, today wins in terms of sheer volume and variety. We get almost every flavor...
Tue, Jun 24 2014, 4:33 PM
As has been necessary since the beginning of June, any volatility we experience during the day is forced to occur within 'the range.' That was the ca...
Tue, Jun 24 2014, 3:42 PM
Mortgage rates were slightly lower
today, but did not move much from yesterday's latest levels. Some
lenders are even in slightly higher terri...
