Wed, Nov 13 2013, 8:10 AM
What are we to make of yesterday? Here we were, ready for more pain
after the strong jobs report and nearly two full weeks of preceding
pain. Bu...
Wed, Nov 13 2013, 5:11 PM
Mortgage rates fell today ,
erasing yesterday's weakness in many cases. There were no significant
events in the morning, but bond markets had al...
Wed, Nov 13 2013, 5:09 PM
Janet Yellen's prepared remarks for tomorrow's confirmation hearing
were released at 4:30pm today. While there was little reason to expect
a sign...
Wed, Nov 13 2013, 2:25 PM
Primary-Secondary Spread is the difference between an average mortgage interest rate and a representative yield
on newly issued agency mortgage-...
Tue, Nov 12 2013, 12:58 PM
The
national mortgage delinquency rate was down by nearly a quarter in the June-September
period compared to the third quarter of 2012, marking the ...
Tue, Nov 12 2013, 12:50 PM
Homeowners have saved an estimated $22.9
Billion in mortgage payments through the Home Affordable Modification Program
(HAMP) since it began in 20...
Tue, Nov 12 2013, 12:06 PM
Bond markets were weaker overnight. 10yr yields began the Asian
hours just under 2.77 and made one anemic move to 2.755 before failing
to break t...
Tue, Nov 12 2013, 10:35 AM
Credit availability improved in October following
two months in which the Mortgage Bankers Association's (MBA) Mortgage Credit
Availability Index ...
Tue, Nov 12 2013, 10:32 AM
The new president of the National
Association of Realtors® (NAR) called on policymakers to making housing a
priority and make the decisions necess...
Tue, Nov 12 2013, 10:21 AM
Generally speaking, home values are going up, and we receive plenty
of statistics every month slicing and dicing sales and values. The
latest is f...
Tue, Nov 12 2013, 7:50 AM
The past two weeks have done all kinds of "bad stuff" to bond
markets. Not only did interest rates return to the gates of the outer
gates of thei...
Tue, Nov 12 2013, 4:38 PM
Mortgage rates rose slightly today ,
extending the losses suffered after Friday's strong employment data.
There was no new reason for rates to m...
Tue, Nov 12 2013, 4:30 PM
Treasuries were able to hold sideways without going much higher than
2.78. While this isn't as threatening as the 2.79's, there was a
notable ave...
Tue, Nov 12 2013, 4:06 PM
Borrowers continued the conservative approach
to refinancing they have exhibited since the housing crisis during the third
quarter of 2013. Freddie...
Tue, Nov 12 2013, 1:01 PM
Freddie Mac has signed a risk sharing
agreement with Arch Reinsurance Ltd. Which will cover up to $77.4 million in
possible credit losses from a...
Mon, Nov 11 2013, 11:48 AM
Here in Texas, how can anyone go through Waco without visiting the
Dr. Pepper Museum? For you sales folks, 10AM and 2PM and two are low
points in ...
Fri, Nov 8 2013, 11:54 AM
Today's trading has turned out to be exceedingly straightforward.
Bonds approached in a neutral stance--right in the middle of their
2-month rang...
Fri, Nov 8 2013, 9:58 AM
In this video , Wells Fargo voices its stance on the upcoming changes.
The CFPB
gave renewed reason for many lenders to contemplate taking their...
Fri, Nov 8 2013, 4:57 PM
Government Shutdowns come and go (and may come again), but our more
constant companion since May has been the ongoing trial of Fed Asset
purchases...
Fri, Nov 8 2013, 3:46 PM
The Consumer Financial Protection Agency reminded
lenders today of the requirement, starting January 10 , to provide consumers
with a list of homeo...
Fri, Nov 8 2013, 2:52 PM
Mortgage rates shot dramatically higher after
today's long-awaited Employment Situation Report (also referred to as
"NFP" to save space and beca...
Fri, Nov 8 2013, 1:37 AM
These sorts of NFP days are few and far between. In fact, we may not
see a similar example for decades--maybe longer. That sounds exciting,
but ...
Thu, Nov 7 2013, 12:54 PM
The overnight session was uneventful until the ECB announced a
somewhat surprising rate cut at 7:45am New York time. Both stocks and
bonds benefi...
Thu, Nov 7 2013, 9:46 AM
No, I am not talking about the Castle & Cooke/CFPB situation,
expected to be positively resolved any day now. No, I am talking about
that not only...
Thu, Nov 7 2013, 7:44 AM
Yesterday, we held out the possibility of something interesting
happening due to the Fed papers making rounds. Nothing interesting
happened. Tha...
Thu, Nov 7 2013, 4:36 PM
Mortgage rates were flat to marginally lower today. The mortgage-backed-securities (MBS) that most directly inform
lenders' rate sheets were surp...
Thu, Nov 7 2013, 4:28 PM
For all the data and events digested by bond markets today, trading
levels managed to stay fairly calm and to seek out the neutrality of
recent ra...
Thu, Nov 7 2013, 4:00 PM
Housing affordability is on a prolonged
downhill slide in California, falling for the sixth time in the third quarter
of 2013. As measured by The...
Thu, Nov 7 2013, 2:52 PM
The October National Housing Survey was
conducted by Fannie Mae during a period that coincided with the federal
government shutdown and the debt c...
Thu, Nov 7 2013, 1:44 PM
Freddie Mac has priced its second
Structured Agency Credit Risk (STACR) offering.
The debt notes are priced at $630 million and follow its initial ...
Thu, Nov 7 2013, 1:32 PM
All four measures of distress in the
housing market dropped to post-crash lows during the third quarter of 2013 the
Mortgage Bankers Association (MB...
Thu, Nov 7 2013, 1:29 PM
Freddie Mac and Fannie Mae each
reported strong third quarter financial results today. For Freddie it was the eighth consecutive
profitable quarte...
Wed, Nov 6 2013, 12:50 PM
Amid today's lack of significant bond-market-specific events,
Treasuries and MBS have erased a moderate amount of yesterday's
weakness. The Leadi...
Wed, Nov 6 2013, 10:35 AM
As the industry waits for Nationstar's earnings call tomorrow, and
hoping all the rumors of this venture-capital-owned lender shutting down
a chan...
Wed, Nov 6 2013, 8:56 AM
The
Mortgage Bankers Association's (MBA) Refinancing Index lost most of the gains it
had made the previous week as applications for refinancing fe...
Wed, Nov 6 2013, 7:29 AM
Sizing up the day, there's nothing special about it in terms of data
or events. As such, it will be especially telling if we happen to see a
big ...
Wed, Nov 6 2013, 4:46 PM
The title of todays' recap, "narrowest trading range in 6 months,"
is the only thing interesting about today. Even on the approach, there
was not...
Wed, Nov 6 2013, 4:03 PM
Mortgage rates were relatively unchanged
today, after rising somewhat significantly in the past week.
Yesterday's rates were the highest since ...
Wed, Nov 6 2013, 2:58 PM
Home Prices continued higher for most of the metropolitan areas
examined in the most recent quarterly report by the National
Association of Realt...
Tue, Nov 5 2013, 12:53 PM
MND has published a number of
stories from the California Association of Realtors® and DataQuick about the
staggering home increases that have hit N...
Tue, Nov 5 2013, 12:45 PM
Today's ISM Non-Manufacturing data was the focal point of the first
three days of this week, and bond markets confirmed that well before it
was re...
Tue, Nov 5 2013, 12:09 PM
As promised last spring, the
Federal Housing Finance Agency (FHFA) has moved to rein in the relationship
between servicers and insurers providing fo...
Tue, Nov 5 2013, 12:01 PM
CoreLogic said today that its Home Price
Index (HPI) hit the highest level in September that it has reached since May
2008 , four months before wha...
Tue, Nov 5 2013, 10:37 AM
I like to say that last week's MBA conference was a compliance &
regulatory conference that happened to include some mortgage banking
information....
Tue, Nov 5 2013, 7:22 AM
Like its sister report last week, today's ISM Non-Manufacturing data doesn't always move markets, but also like
its sister report, it can cause fa...
Tue, Nov 5 2013, 5:06 PM
Homeowner and rental vacancy rates were essentially flat
during the third quarter of 2013. The
Census Bureau reported on Tuesday that the vacancy r...
Tue, Nov 5 2013, 4:46 PM
While there's still a bit of time left on the clock, MBS look
fairly likely to close at levels that make today the worst day of losses
in exactly ...
Tue, Nov 5 2013, 3:49 PM
Mortgage rates rose briskly
today, bringing them to their highest levels since the worst few days
of the government shutdown nearly 3 weeks ago....
Tue, Nov 5 2013, 2:00 PM
Some distressed homeowners in northern
California may have suffered a double whammy when their homes were foreclosed
the Department of Justice said ...
Mon, Nov 4 2013, 12:55 PM
One of the big worries in the
early days of the housing crises were the large numbers of adjustable rate
mortgages originated during the boom years ...
