Thu, Sep 30 2010, 8:23 AM
On this final day of September and final day of the 3rd quarter, after a busy overnight session in which Ireland’s finance minister declared his count...
Thu, Sep 30 2010, 6:41 PM
If you are still floating, we must revisit our "Float at the MBS Price Lows, Lock at the MBS Price Highs" strategy. Currently MBS prices are directly ...
Thu, Sep 30 2010, 2:50 PM
H.R. 3081: Making Continuing Appropriations for Fiscal Year 2011, and For Other Purposes, passed the House of Representatives this morning. Buried in ...
Wed, Sep 29 2010, 12:43 PM
The Refinance Index decreased 1.6 percent from the previous week, which is the fourth straight weekly decrease. The seasonally adjusted Purchase Index...
Wed, Sep 29 2010, 11:35 AM
With rebate already a few bps weaker on the open, reprices for the worse don't appear to be an issue at the moment. However if 2.50% support is broke...
Wed, Sep 29 2010, 10:42 AM
New pre-election refi plan; rate sheet rates moving lower along with profit margins; Wells exec speaks out on mortgage future
Wed, Sep 29 2010, 8:28 AM
Benchmark interest rates are modestly higher and equity futures are mixed as investors prepare for a dataless U.S. trading session, this puts the focu...
Wed, Sep 29 2010, 5:06 PM
The November FNCL 4.0 ended the day -0-07 at 102-14. The intraday low was 102-13. The high was 102-24. I've got the production coupon marked at 3.637%...
Wed, Sep 29 2010, 4:23 PM
Mortgage rates touched record lows yesterday. Unfortunately mortgage rates rose from those record lows today. Mortgage rates didn't really "rise" tho...
Wed, Sep 29 2010, 3:19 PM
The Harvard report on The State of the Nation's Housing reports that both household income and household wealth have dropped since the beginning of th...
Wed, Sep 29 2010, 1:10 PM
We had three Treasury auctions this week. All three issues were offered at record low yields, yet demand remained strong. Makes you feel like mortgage...
Tue, Sep 28 2010, 12:07 PM
The legislation would allow for blanket 30-year, fixed-rate mortgages at the prevailing market rate, now around 4.3 percent, for anyone seeking to ref...
Tue, Sep 28 2010, 10:00 AM
Loan pricing was 10.2 bps better on average yesterday but rate sheet influential MBS prices were up about 0.375bps. Most lenders didn't reprice for th...
Tue, Sep 28 2010, 9:51 AM
Big picture housing stats worth a skim; updates from Citi & USB; bad news for Alt-A & jumbo biz
Tue, Sep 28 2010, 9:04 AM
JULY 20-METRO AREA HOME PRICES UNADJUSTED +0.6 PCT (CONSENSUS +0.4) VS +1.0 PCT IN JUNE - S&P/CASE-SHILLER. 20-METRO AREA HOME PRICES +3.2 PCT (CONSEN...
Tue, Sep 28 2010, 8:40 AM
Interest rates are flat and global equities are mixed ahead of home price data,a key consumer confidence survey, and a $35 billion 5-year Treasury not...
Tue, Sep 28 2010, 5:15 PM
It happened yesterday but I didn't make a big deal about it because I wanted to see how lenders would play it out today. Then it happened again toda...
Tue, Sep 28 2010, 4:01 PM
Fannie Mae is working with officials of the U.S. Army to offer mortgage relief to service members and their families who are struggling to meet mortga...
Tue, Sep 28 2010, 1:28 PM
Plain and Simple: In the first two auctions of the week we've seen extremely high demand at record low yields. This tells you that the bid for risk a...
Mon, Sep 27 2010, 12:43 PM
Rural Housing Refi Funds Exhausted; HAMP Loan Mods vs. Non-Hamp Mods; Minimum FICO Score Update; Credit Unions Seized by Regulators; HECM Guidance
Mon, Sep 27 2010, 12:07 PM
Mortgage-backeds are off to a slow start to the week. Not much activity to report. Price levels are nonetheless moving higher thanks to a turn around ...
Mon, Sep 27 2010, 9:09 AM
Stocks completed their fourth consecutive week of rallies last Friday while interest rates continued to chop around an originator friendly range. The ...
Mon, Sep 27 2010, 5:00 PM
Our "float at the MBS price lows, lock at the MBS price highs" strategy has held up quite well this year. MBS prices rallied higher in our range today...
Mon, Sep 27 2010, 4:23 PM
Fannie Mae markets its REO through a program called HomePath Properties. Under the new incentive program, owner-occupants and public entities that bu...
Mon, Sep 27 2010, 2:42 PM
A world-wide study of mortgage products funded by the Mortgage Bankers Association found that the U.S. is nearly alone in its reliance on fixed-rate m...
Mon, Sep 27 2010, 1:12 PM
This was a record low "high yield" for a 2-year note auction, yet investors were still more than willing to buy. Although the street took home the maj...
Fri, Sep 24 2010, 11:09 AM
The bad news is we're seeing benchmark yields tick higher today. The good news is loan pricing isn't too too terrible into these lower MBS levels. Reb...
Fri, Sep 24 2010, 10:03 AM
National Flood Insurance Program Extended; Good signs in the commercial security market; disaster & health impact thoughts from investors, foreclosure...
Fri, Sep 24 2010, 8:23 AM
Benchmark interest rates are higher as U.S equity futures rally ahead of durable goods and housing data. In the afternoon, investors will also be reac...
Fri, Sep 24 2010, 5:15 PM
The best day to lock was Wednesday. Although rates rose heading into the weekend (for the third week in a row), consumer borrowing costs are lower tha...
Fri, Sep 24 2010, 3:50 PM
The Obama Administration's Housing Scorecard for September notes a slowly stabilizing housing market. Delinquencies are down slightly as are early st...
Fri, Sep 24 2010, 2:37 PM
Sales of new single-family houses in August 2010 were at a seasonally adjusted annual rate of 288,000. This is unchanged (±16.7%) from the revised Jul...
Fri, Sep 24 2010, 1:44 PM
Newly appointed Assistant to the President Elizabeth Warren and Treasury Secretary Tim Geithner hosted a forum earlier this week to allow concerned pa...
Fri, Sep 24 2010, 1:08 PM
In the BIG PICTURE, disinflation turning into deflation is a more significant reason to believe the Fed would initiate another QE program. This rise ...
Thu, Sep 23 2010, 12:58 PM
Flood Insurance Program Deadline; Uniform Appraisal Data; New Reverse Mortgage Product; Foreclosures in Judicial States; GSE REO
Thu, Sep 23 2010, 11:12 AM
I don't want you to think I am panicking about a sell off and consequential spike in mortgage rates though. Overall the environment remains supportive...
Thu, Sep 23 2010, 9:00 AM
After the data flashed the yield curve flattened another 4bps, 2s/10s are now at 207bps. The benchmark 10yr note yield has moved below 2.50% resistanc...
Thu, Sep 23 2010, 8:28 AM
Interest rates are holding near yesterday's lows as equity futures traded lower in the overnight session following news that Ireland’s GDP fell at an ...
Thu, Sep 23 2010, 6:14 PM
With both the FNCL 4.0 (103-00) and the 10yr TSY note (2.50%) trading near firm resistance levels, I continue to favor locking deals closing in the ne...
Thu, Sep 23 2010, 5:58 PM
After ending last week on a three day losing streak, loan pricing made a total turnaround in the first three days of this week, mostly thanks to the o...
Thu, Sep 23 2010, 2:50 PM
How is it that a small mortgage banker is able to fund 100% of their production through a mortgage bank and pay only 40% commission to its loan office...
Thu, Sep 23 2010, 2:19 PM
Lawrence Yun, NAR chief economist, said home sales still remain subpar. “The housing market is trying to recover on its own power without the home buy...
Wed, Sep 22 2010, 11:48 AM
The 2s/10s yield is another 6bps flatter at 210bps wide, production MBS coupons are trading to shorter hedge ratios, and benchmark 10s have moved all ...
Wed, Sep 22 2010, 10:51 AM
Has refi demand topped out? Have purchase apps bottomed? The latter is far less likely than the former. Color from lock desks confirms the slow down i...
Wed, Sep 22 2010, 9:37 AM
Before anyone says that the value of servicing is next-to-nothing, don't forget to consider investor profit margins. And while you're at it, give some...
Wed, Sep 22 2010, 8:34 AM
Treasuries experienced a broad rally yesterday including the benchmark 10-year note shedding 13 basis points to 2.58% while 2-year yields created a fr...
Wed, Sep 22 2010, 3:53 PM
If you were floating your loan last week when rates started to rise, you probably kicked yourself for not locking. If you held out and continued floa...
Wed, Sep 22 2010, 1:18 PM
Owner occupants and public groups using NSP funds have purchased 29,000 homes over the past year through a Fannie Mae program which gives them first c...
Tue, Sep 21 2010, 12:40 PM
The fact that we are pointing toward the same reason as an explanation for the behavior of two different markets creates a lot of crosswinds and confu...
Tue, Sep 21 2010, 12:09 PM
The November FNCL 4.0 is trading 10/32 higher at 102-16, this is the high print of the day. Loan pricing is 32bps better vs. what lenders were offerin...
