Tue, May 6 2014, 10:06 AM
"Is there a credible source I could quote as to how mortgage
originations YTD for 2014 compare to 2013?" That's an easy one. Marina
Walsh, VP at t...
Tue, May 6 2014, 8:00 AM
There was a Bloomberg article out on Sunday night that quickly made rounds in financial markets and among market watchers. It isn't 'in your face...
Tue, May 6 2014, 4:19 PM
Calmly and coolly, MBS marched to the best levels of the year this afternoon, and for no particular reason as far as today's events were concerned. ...
Tue, May 6 2014, 3:36 PM
Mortgage rates
fell back to their lowest levels of 2014, with most lenders in similar
territory to last Friday. Market movement was moderate, ...
Mon, May 5 2014, 12:06 PM
Mortgage originations are at their
lowest level in nearly 10 years Black Knight Financial Services said today. Mortgage originations fell to 238,000...
Mon, May 5 2014, 11:45 AM
Bond markets have been fairly calm this morning, even if slightly weaker after the ISM Non-Manufacturing data (aka ISM Services). Before that, ther...
Mon, May 5 2014, 9:39 AM
How many days do we have to cure a GFE tolerance violation ? The Mortgage Bankers Association of the Carolinas wrote, "Regulation X provides: 'If
...
Mon, May 5 2014, 7:54 AM
Last week ended in ground-breaking fashion with bond markets clawing into positive territory despite a substantially better-than-expected Employment S...
Mon, May 5 2014, 4:15 PM
After Friday's orgiastic frenzy of bet-making and profit taking, bond markets sat back in their seats and abstained today. In poker terms, this is a ...
Mon, May 5 2014, 3:35 PM
Mortgage rates
move up just slightly today, after hitting the lowest levels in 6
months at the end of last week. Some lenders who didn't get t...
Mon, May 5 2014, 3:10 PM
Since the beginning of the housing crisis in 2008 housing experts have
cited concern over the "Shadow Inventory" and the pitfalls it could present ...
Fri, May 2 2014, 12:17 PM
This has been one of the craziest NFP mornings I can remember--probably THE single most paradoxical reaction at first glance. Granted, bond markets...
Fri, May 2 2014, 9:52 AM
There's
nothing wrong with early dinners! According to the U.S. Census Bureau, a
meeting with the National Council of Senior Citizens resulted in ...
Fri, May 2 2014, 7:42 AM
Unless you're just looking at the recent behavior in interest rates for the first time in months, you're well-aware that they've been stuck in a range...
Fri, May 2 2014, 3:41 PM
In looking at yesterday's activity in bond markets, we could see some level of determination to rally regardless of the incoming economic data. The c...
Fri, May 2 2014, 3:16 PM
While the numbers may change, the story of the U.S. labor market
ultimately is the same. Job growth continues, but significant weakness remains.
...
Fri, May 2 2014, 2:26 PM
Mortgage rates
and many other areas of financial markets moved in shockingly
counterintuitive ways after today's big jobs report. Nonfarm payr...
Thu, May 1 2014, 12:40 PM
Overall construction spending increased slightly in March
the Census Bureau said today. Combined
public and private construction was at a seasona...
Thu, May 1 2014, 12:02 PM
10yr yields had been careful to avoid dipping below yesterday's latest levels until after all of this morning's data was out of the way. Once it was,...
Thu, May 1 2014, 11:24 AM
The
Consumer Financial Protection Bureau (CFPB) is again proposing a few minor
modifications to its new mortgage rules, suggesting changes designed ...
Thu, May 1 2014, 10:35 AM
Happy
May Day! After good a good March and a decent April, mortgage banks are
left wondering what May will look like. Today I travel from Chicago ...
Thu, May 1 2014, 7:38 AM
There's no way to be excited about bond markets right now! That is, unless you want to be excited about the fact that things are making great sense...
Thu, May 1 2014, 4:03 PM
Bond markets had a great day today, but the greatness isn't entirely logical ( ironic headline choice this AM , no? ). While there was some economic...
Thu, May 1 2014, 3:12 PM
Mortgage rates fell at the fastest pace in over a month today
bringing them to their lowest levels since early February. The
motivation for ...
Wed, Apr 30 2014, 12:42 PM
In a survey they might as well have
subtitled "The Grass is Always Greener," Gallup found that about a
third of Americans would, if given the opport...
Wed, Apr 30 2014, 11:04 AM
The blue line is stocks; yellow is 10yr yields. When we see a chart like this on the last 2.5 days of the month-- ESPECIALLY when the recent norm has...
Wed, Apr 30 2014, 10:37 AM
Yes, I remember it well; it was 2005 and saying "Jumbo" or "Alt-A" without adding an IO at the end was unthinkable .
Borrowers would ask, "What hap...
Wed, Apr 30 2014, 10:16 AM
Wednesday's FOMC Announcement was almost completely unchanged from the
previous version. Since the Fed is already in the habit of tweaking
only c...
Wed, Apr 30 2014, 8:54 AM
The week ended April 25 was one of the
slowest for mortgage application activity the industry has seen in years. The Mortgage Bankers Association ...
Wed, Apr 30 2014, 7:18 AM
As a quarterly report with monthly updates, GDP releases are slightly different from month to month. The order is: advance, preliminary, and final. ...
Wed, Apr 30 2014, 3:54 PM
Heading into the last hour of trading on this all-star day, bond markets have moved at a fairly average pace, albeit in rate-friendly directions. The...
Wed, Apr 30 2014, 3:27 PM
Mortgage rates fell at a solid pace
today following a reading on 1st Quarter GDP that was much weaker than
expected. Downbeat economic data ...
Wed, Apr 30 2014, 3:10 PM
This will be the first year that financial institutions will be required to
submit to stress tests under the Dodd-Frank Wall Street Reform and
C...
Wed, Apr 30 2014, 1:59 PM
Information received since the Federal Open Market Committee met
in March indicates that growth in economic activity has picked up
recently, after...
Tue, Apr 29 2014, 12:16 PM
The overnight session was nominally weaker for Treasuries, but there was limited activity overall as Japan (the key participant in US Treasuries durin...
Tue, Apr 29 2014, 10:50 AM
Completed foreclosures increased by nearly 6 percent in
March, moving from 45,000 in February to 48,000. CoreLogic said this morning that there we...
Tue, Apr 29 2014, 9:59 AM
Let's face it: lenders who ignore compliance are doomed in the
long run. Here's a recent quick note provided by the Mortgage Bankers
Association...
Tue, Apr 29 2014, 7:48 AM
To be perfectly fair to financial markets, "things could get serious" at any moment really, it's just that the events that are more predisposed to bri...
Tue, Apr 29 2014, 3:34 PM
It was a generally quiet day for bond markets, though that wasn't destined to be the case at the open. Treasuries had weakened slightly overnight and...
Tue, Apr 29 2014, 3:02 PM
The S&P/Case-Shiller 20-City Composite Index rose
slightly in February on a seasonally-adjusted basis, beating analysts' expectations by a hair whi...
Tue, Apr 29 2014, 2:23 PM
Mortgage rates were slightly higher today
as a result of bond market weakness late yesterday and again this
morning. Some of that weakness h...
Mon, Apr 28 2014, 12:20 PM
Home prices nationwide have now
recovered to within 13.5 percent of the peak they reached in June 2006. The national Home Price Index (HPI) provid...
Mon, Apr 28 2014, 11:47 AM
MBS are coping with the double-edged sword that is stronger housing data this morning. On the one hand, the decisive reversal of an 8-month slide in ...
Mon, Apr 28 2014, 10:37 AM
Contracts for home purchases ended a dismal
nine-month downturn in March marked by the first improvement in the Pending
Home Sales Index (PSHSI) p...
Mon, Apr 28 2014, 10:04 AM
Another
trend that is winding down in the banking industry is the long period
of Fed Funds at or near 0%. Whether this happens in 2015 or 2016, ke...
Mon, Apr 28 2014, 7:39 AM
If calendar events like economic reports and monetary policy announcements end up being the impetus for bond markets to break out of their 3-Month sid...
Mon, Apr 28 2014, 3:23 PM
Bond markets were just slightly weaker overnight, with no major volatility or trading themes emerging. MBS walked in the door a bit weaker as a resul...
Mon, Apr 28 2014, 2:45 PM
Mortgage rates
held almost perfectly steady today, with a handful of lenders offering
slightly lower costs while others were slightly higher. ...
Fri, Apr 25 2014, 12:59 PM
While the Gallup survey released on
Thursday shows that Americans are regaining their faith in home ownership, at
least as a worthwhile investme...
Fri, Apr 25 2014, 10:41 AM
David Crowe, Chief Economist of the National
Association of Home Builders (NAHB) told members attending the Association's
2014 Spring Construction...
