Mon, Sep 23 2013, 7:56 AM
Monday is the quietest day of the week in terms of scheduled economic
reports, though we will get several Fed speakers and second-tier
manufacturi...
Mon, Sep 23 2013, 5:14 PM
Mortgage rates continued lower today, bringing
rates in line with the lowest levels seen during the past 4 months
(officially, 6-week lows as ...
Mon, Sep 23 2013, 5:03 PM
Like
closed sales which were reported last week, pending real estate sales in
California dropped in August while distressed home sales were down...
Mon, Sep 23 2013, 4:40 PM
Several lenders were out with improved rate sheets this afternoon, as reported in real time by MBS Live
members. The underlying strength making su...
Mon, Sep 23 2013, 4:17 PM
A national law firm which frequently
analyzes actions either coming from or having an impact on the Consumer
Financial Protection Agency raised ques...
Mon, Sep 23 2013, 2:15 PM
Lender Processing Services (LPS) Home
Price Index (HPI) rose 0.6 percent in July compared to June. The index has increased 7.5 percent since the
...
Fri, Sep 20 2013, 10:18 AM
Whereas the National Association of Realtors has managed to have
everyone capitalize the job of their members (Realtor), the MBA (which
years ago ...
Fri, Sep 20 2013, 7:48 AM
Thinking about bond market trading levels in the context of "battle"
is fun. Analogies make technical concepts easier. So here's a brief
battle ...
Fri, Sep 20 2013, 4:53 PM
When we talk about consolidation, we're generally talking about MBS
Prices or interest rates moving counter, in some way, to a larger or
longer-te...
Fri, Sep 20 2013, 3:45 PM
Mortgage rates held steady today, keeping
them in line with the lowest levels seen since early August, and very
close to the lowest levels sin...
Fri, Sep 20 2013, 1:59 PM
The
National Association of Realtors ® (NAR) sent a strongly worded letter to Edward J. DeMarco , Acting
Director of the Federal Housing Finance A...
Fri, Sep 20 2013, 1:55 PM
On Thursday the Federal Housing Finance
Agency (FHFA) released the first Quarterly
Performance Report of the Housing GSEs. The
report summarizes...
Fri, Sep 20 2013, 1:37 PM
The number of companies licensed through
the National Mortgage Licensing System (NMLS) declined by 2.1 percent from the
second quarter of 2012 to ...
Fri, Sep 20 2013, 1:07 PM
With nothing on the calendar but Fed speakers and being a " quadruple witching "
day, we stood a chance to see some volatility this morning. So far...
Thu, Sep 19 2013, 12:22 PM
Existing home sales reached a six-and-a
half year peak in August, increasing 1.7 percent to a seasonally adjusted
annual rate of 5.48 million unit...
Thu, Sep 19 2013, 12:19 PM
It's been an interesting session so far. MBS came in the door in
line with yesterday's latest levels, digested an oddly flavored Jobless
Claims r...
Thu, Sep 19 2013, 11:01 AM
Welcome to "Talk Like a Pirate Day" , even held in Minnesota where I am heading today. Of course, 3.14159...% of sailors are Pi Rates .
Let's face...
Thu, Sep 19 2013, 7:24 PM
There's a decent enough chance that if you didn't know what happened
yesterday, today's weakness would be just as frustrating as any other
weaknes...
Thu, Sep 19 2013, 6:56 AM
Yesterday rocked, plain and simple. A dichotomy had arisen between
the ostensible course of Fed policy and it's increasingly clear impact.
In ot...
Thu, Sep 19 2013, 5:19 PM
Mortgage rates moved moderately lower on
average today. Not all lenders improved, but most did. Those who were
in similar or higher territor...
Thu, Sep 19 2013, 3:36 PM
There was sharp disagreement among participants in at least
one panel at a forum on the future of housing sponsored by the National
Association of...
Thu, Sep 19 2013, 2:01 PM
The Consumer Financial Protection Bureau
( CFPB ) announced new tools yesterday that will help consumers further explore the Home
Mortgage Disclosu...
Wed, Sep 18 2013, 12:53 PM
Information collected in 2012 through
the Home Mortgage Disclosure Act (HMDA) was released today by the Federal
Financial Institutions Examination C...
Wed, Sep 18 2013, 12:48 PM
Ellie Mae reported today that the refinancing share
of loans has dropped 15 percentage points since rates first began to escalate
in May. The com...
Wed, Sep 18 2013, 12:44 PM
MBS and Treasuries are now back in to their best levels of the day
(pricing snapshot below is taken just after 11am, but we've improved
since then...
Wed, Sep 18 2013, 12:25 PM
Parsing the Fed is everyone's
favorite game, so before the Fed wraps its sixth meeting of 2013 this
afternoon, it's time to play "Build Your Own Fed...
Wed, Sep 18 2013, 10:57 AM
Building permits for the construction of
new privately owned residential units fell 3.8 percent in August to a
seasonally adjusted annual rate of 9...
Wed, Sep 18 2013, 10:07 AM
The industry is moving toward more acceptance of non-QM loans .
The CFPB will be the first to admit that just because a loan is not QM
doesn't me...
Wed, Sep 18 2013, 8:44 AM
Mortgage applications rallied
last week from the week ended September 6 in which applications were down 13.5
percent and refinancing applications f...
Wed, Sep 18 2013, 8:29 AM
There are two kinds of market watchers in the world: those who
believe the Fed plays the largest role in setting the pace of big
movement in bon...
Wed, Sep 18 2013, 5:34 PM
Mortgage rates surged lower today following the long-awaited policy announcement from the Federal Reserve. Conforming, 30yr Fixed rates fell to ...
Wed, Sep 18 2013, 5:03 PM
A "facemelter" is a long-standing MBS Live term for a gigantic rally
in MBS prices. The Fed caused one today by flipping the script on
market exp...
Wed, Sep 18 2013, 2:09 PM
Information received since the Federal Open Market Committee met
in July suggests that economic activity has been expanding at a moderate
pace. So...
Tue, Sep 17 2013, 12:56 PM
As it did following the devastation of Hurricane
Sandy, Freddie Mac has made the full menu of its mortgage relief policies available
to borrowers ...
Tue, Sep 17 2013, 12:54 PM
Fannie Mae's senior economists said
today that anticipated declines in refinance
originations suggest that mortgage industry employment, which has...
Tue, Sep 17 2013, 12:19 PM
Builder confidence in the market for newly built
single family homes held steady in September after four consecutive months of
improvements the Na...
Tue, Sep 17 2013, 12:08 PM
From this morning's MBS Live Update: The inevitable pall of silence leading up to FOMC Wednesday is much more
evident this morning, without the dist...
Tue, Sep 17 2013, 10:41 AM
Late Monday Freddie Mac issued a bulletin for its
Single-Family Servicer Guide ( Bulletin
2013-17) which covers changes to the Home Affordable Modi...
Tue, Sep 17 2013, 9:48 AM
I am really surprised at how many mortgage vets seem to have forgotten
what a business cycle is (almost like how I was surprised in 1977 when a
bu...
Tue, Sep 17 2013, 6:40 AM
Larry Summers gift to bond market trading on Sunday/Monday was that
we now have the honor of approaching Wednesday's FOMC events with the
"Larry S...
Tue, Sep 17 2013, 5:41 PM
We've been waiting for tomorrow, specifically, for nearly 4 months.
Competing reactions to the key components in the FOMC data make for an
utterl...
Tue, Sep 17 2013, 4:50 PM
As if to reinforce the gravity of the events that lie ahead, Mortgage rates were perfectly flat today, on
average, meaning that today's rate s...
Tue, Sep 17 2013, 2:44 PM
Home remodeling appears to be growing even more
steadily that other sectors of the residential construction industry. Building permits for improveme...
Mon, Sep 16 2013, 12:03 PM
On Sunday evening, Larry Summers announced his withdrawal from
consideration for the Fed Chair position. Stock and Bond futures
rallied big durin...
Mon, Sep 16 2013, 10:24 AM
On Friday the 13th the CFPB released the final amendments
to the Loan Officer Compensation, Servicing, QM and HOEPA Rules. The
official release ...
Mon, Sep 16 2013, 9:34 AM
Between a slight decrease this month and a massive negative revision
to the previous month, the California real estate market turned on a
dime acc...
Mon, Sep 16 2013, 7:25 AM
From the moment the Fed officially began considering a reduction in
asset purchases in late June, and even when unofficial consideration
ramped up...
Mon, Sep 16 2013, 6:16 PM
Mortgage rates improved again today, bringing
them to their best levels of month, just on par with rate sheets from
late August. Conforming, ...
Mon, Sep 16 2013, 4:32 PM
Interest rates have been determined and methodical about their slog
higher from May 2nd levels. That's been well over a full percentage
point bot...
Mon, Sep 16 2013, 2:45 PM
Monthly sales figures from the California
Association of Realtors® (C.A.R.) confirm indications from DataQuick data
posted earlier today that the re...
