Thu, Jan 16 2014, 9:47 AM
Sales of new and existing homes in California rose
slightly in December. DataQuick reports
that there were a total of 39,949 homes sold statewide...
Thu, Jan 16 2014, 9:23 AM
Is it finally over?
With foreclosure filings throughout 2013 reported by RealtyTrac to be at
the lowest annual level since 2007 , one might begin ...
Thu, Jan 16 2014, 7:00 AM
Today is by the far the busiest day of the week judging by the calendar, and not just the calendar of economic data. While that's busy enough in it...
Thu, Jan 16 2014, 4:50 PM
Bond markets had an utterly copacetic day, starting out just barely positive, gaining nominally with each round of economic data and continuing to tri...
Thu, Jan 16 2014, 3:58 PM
Mortgage rates moved lower today
preserving the pocket of recovery that formed on the heels of last
week's Employment Situation report. Every d...
Thu, Jan 16 2014, 3:14 PM
The housing market turned the corner in 2012 Freddie
Mac's economists said today, and the recovery was fully underway in 2013. But despite the posit...
Thu, Jan 16 2014, 1:35 PM
Perhaps at
least part of what may have been driving the hot California housing market is
seller optimism. The results of the California
Associatio...
Wed, Jan 15 2014, 12:08 PM
Bond markets had an exceptionally narrow, quiet overnight session with 10yr yields holding inside a 1.7bp range and hitting 8am almost perfectly in ...
Wed, Jan 15 2014, 10:36 AM
It looks like the industry
did about $1.75 trillion in 2013, and the Mortgage Bankers Association (MBA) lowered its forecast
for mortgage origin...
Wed, Jan 15 2014, 9:13 AM
Mortgage applications bounced back in
the first full week after the holiday season, increasing 11.9 percent on a
seasonally adjusted basis durin...
Wed, Jan 15 2014, 7:00 AM
Bond markets had their first set-back yesterday in the post-NFP rally. While that rally only lasted 2 short days, it covered as much ground as any 2 ...
Wed, Jan 15 2014, 5:02 PM
Back in September, the epic corporate bond offering by Verizon (more than double the previous record!) proved to be such a factor for broader bond m...
Wed, Jan 15 2014, 4:03 PM
Mortgage rates were higher again
today, further eroding the large improvement following the weak jobs
report. On a positive note, Friday's gain...
Wed, Jan 15 2014, 1:44 PM
The Office of Inspector General (OIG) of the Federal
Housing Finance Agency (FHFA) released two reports today recommending better FHFA
oversight of ...
Tue, Jan 14 2014, 12:20 PM
Bond markets have given up most of yesterday's strength so far this morning, though that's more true for Treasuries than MBS. The morning has been su...
Tue, Jan 14 2014, 10:39 AM
The Federal Bureau of Investigation
(FBI) is looking into a sophisticated scheme using " unsophisticated tradecraft "
to front run interest rate swa...
Tue, Jan 14 2014, 9:54 AM
They
say a good writer will grab the reader's attention within the first three
sentences, and never let it go. I don't think I'm qualified to judge
...
Tue, Jan 14 2014, 7:00 AM
There are clues in yesterday's session as to where our attention should be focused in the next two weeks. There may well be clues in this morning's...
Tue, Jan 14 2014, 4:35 PM
The House Financial Services Committee heard
testimony from five persons, almost all representing mortgage lenders , at a
hearing today entitled ...
Tue, Jan 14 2014, 4:27 PM
Whereas Friday's big move higher in MBS was all about one undisputed star of the show, and whereas today's Retail Sales report had an opportunity to...
Tue, Jan 14 2014, 4:04 PM
Wells Fargo Bank (WFB) is reporting
record fourth quarter as well as fiscal year financial results while
scandal-plagued JP Morgan Chase (Chase) r...
Tue, Jan 14 2014, 3:17 PM
Mortgage rates moved moderately higher today,
giving back some of the impressive gains seen since last Thursday.
Most of that improvement cam...
Mon, Jan 13 2014, 12:14 PM
Bond markets have been trading calmly and slightly stronger. That said, the strength is more in line with "follow through" from Friday morning's mo...
Mon, Jan 13 2014, 10:58 AM
Rising
home prices are continuing to drive down the number of homeowners who are
underwater according to the December Housing
Scorecard published...
Mon, Jan 13 2014, 10:02 AM
First Community Mortgage announced its new expanded TPO/supervised correspondent channel to include a full delegated correspondent
platform. "While...
Mon, Jan 13 2014, 6:48 AM
Things have been less than great for bond markets since May of 2013 when sentiment in the Fixed-Income sector seemed to turn on a dime. In reality, t...
Mon, Jan 13 2014, 4:57 PM
The past few weeks have marked the first time in a long time that we've had occasion to consider the proverbial "stock lever" (the phenomenon whereb...
Mon, Jan 13 2014, 3:32 PM
Mortgage rates continued lower at a fairly brisk pace today,
extending the already impressive drop that followed Friday's employment
data. By...
Mon, Jan 13 2014, 1:43 PM
Thanks
to key changes in the program, completing a short sale through Freddie Mac is
taking less time than ever before. The
company's Senior Vic...
Fri, Jan 10 2014, 12:50 PM
This morning's jobs report was stunningly weaker than expected, with NFP coming in at 74k vs a consensus forecast of 196k. As far as misses go, this ...
Fri, Jan 10 2014, 10:50 AM
All
of the usual measures of mortgage distress continue to retreat CoreLogic
said
in its National Foreclosure Report for November. (The report co...
Fri, Jan 10 2014, 10:44 AM
It's
here. Effective today, QM rules the land.
What does the public see regarding QM (apart from Cordray on the Daily Show )? Here you go .
...
Fri, Jan 10 2014, 6:36 AM
This analysis isn't intended to extoll the virtues of ADP, but it's going to seem that way based on the objective facts offered. It's also meant to s...
Fri, Jan 10 2014, 4:36 PM
There is a disturbing lack of utter certainty when it comes to financial markets, and especially to the effect of economic data on MBS Prices. Case...
Fri, Jan 10 2014, 3:25 PM
Mortgage rates fell abruptly today ,
following a significantly weaker than expected Employment Situation
report. The data hit markets before mos...
Fri, Jan 10 2014, 1:05 PM
A recent article for Fannie Mae's Housing Industry Forum makes the point
that when it comes to the new servicing rules which go into effect today,
...
Thu, Jan 9 2014, 12:01 PM
The day began with modest improvements, helped along by tough talk from ECB President Draghi. While the timing of the best movement seems to coinci...
Thu, Jan 9 2014, 10:15 AM
Rising home prices are returning more and more homes
to a positive equity position and RealtyTrac said today that about 31 percent
of the homes curr...
Thu, Jan 9 2014, 9:54 AM
There were a lot of happy lenders
yesterday when they learned that the FHFA's new director, Mel Watt, announced that he intends to delay guarantee ...
Thu, Jan 9 2014, 8:30 AM
It's a somewhat cynical point of view, but what is the Thursday before Nonfarm Payrolls (NFP) if not a place-holder that can't ever come close to the ...
Thu, Jan 9 2014, 4:26 PM
Mortgage rates were sharply unchanged
today with the few better-priced lenders offset by a few others in
worse shape compared to yesterday. T...
Thu, Jan 9 2014, 4:21 PM
As expected, today's trading wasn't willing or able to challenge recent rages in any meaningful way. In fact, it didn't even challenge yesterday's ra...
Thu, Jan 9 2014, 3:04 PM
Three staff member of the Federal
Reserve Bank of San Francisco have published, on the Bank's website, results of
a study about what drives the mor...
Wed, Jan 8 2014, 12:41 PM
Two days after being sworn in as the first Senate-confirmed Director of the Federal Housing Finance Agency (FHFA), Mel Watt made good
on his Decem...
Wed, Jan 8 2014, 12:25 PM
As expected, this morning's ADP data marked the unofficial inception of 2014, bringing by-far the biggest dose of volume and movement this year. To...
Wed, Jan 8 2014, 10:48 AM
This
morning we learned from the MBA's poll of 75% of retail lenders that
residential mortgage applications in the U.S. rose last week
as refin...
Wed, Jan 8 2014, 9:16 AM
The Mortgage Bankers Association (MBA)
released data on mortgage application volume for the week ending January 3,
2014 which included summary infor...
Wed, Jan 8 2014, 7:00 AM
For all intents and purposes, today is the first day of 2014. While Monday's ISM Non-Manufacturing data is one of the more capable market movers , i...
Wed, Jan 8 2014, 4:32 PM
Mortgage rates moved higher today,
perfectly erasing yesterday's solid gains on average. Movement
continues to be only moderate in the big pi...
Wed, Jan 8 2014, 4:27 PM
The afternoon turned out to be even less interesting than our already-discounted outlook suggested (see the Day ahead , particularly "That leaves the...
