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Mortgage rates moved higher today, bringing the average lender back near 4% in terms of conventional 30yr fixed quotes for top tier scenarios. Most lenders were back in line with last Thursday's rates, which were the highest in roughly 2 months. In terms of day to day changes, nothing about the recent mortgage rate environment is terribly alarming . It's only when you add up each day's movement over the past 3-4 weeks that things look a bit more serious. During that time rates have risen as much as any other comparable period of time in nearly a year. The biggest concern would be that "this time is different" and that instead of bouncing back down into a calm, narrow range that's prevailed for most of 2017, rates continue back up into the 4's. It's still a bit too soon to start freaking out
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Mortgage Rate Watch
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Mortgage rates moved higher today, bringing the average lender back near 4% in terms of conventional 30yr fixed quotes for top tier scenarios. Most lenders were back in line with last Thursday's rates, which were the highest in roughly 2 months. In t... (read more) |
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Housing News
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Is it time to bid farewell to an American-as-Apple-Pie tax deduction? Maybe. After 75 years of supporting it against all assaults, the National Association of Home Builders (NAHB) has abandoned its defense of the mortgage interest deduction (MID) one... (read more) |
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Rob Chrisman
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One of my early jobs was digging fence post holes and picking up dropped nails for a builder in 100 degree heat. No one wants to do that anymore? In builder-land, chronic labor shortages are changing the way many firms recruit and compensate workers,... (read more) |
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MBS Commentary
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Yet again, bond markets have managed to string together 4 days doing something other than selling off abjectly. Without a firmer push toward lower yields, these strings of days "without pushing toward higher yields" are the first possibl... (read more) |
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Mortgage Rate Watch
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Mortgage rates were very slightly lower today, but not by enough to have an impact on the actual interest rates being quoted. Specifically, the "effective rate"--which factors upfront costs into an overall cost of financing is slightly lower due to c... (read more) |
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MBS Commentary
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Bond markets saw a decent amount of strength in the afternoon. It ultimately allowed 10yr yields and MBS to return to positive territory by the end of the day, although they'd be best-characterized as merely "unchanged." Who knows where t... (read more) |
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