Mortgage News Daily:
Homebuying Sentiment Turns Negative Despite Economic Improvement
5/10/2021 10:34 AM
Posted To: MND NewsWireFannie Mae has conducted the National Housing Survey every month since 2011. Among its most prominent questions are those relating to home buying and home selling: is it a good or a bad time to do either one? Last month the net positive responses for the good time to buy category fell into negative...Read More
Early Stage Delinquencies Sink to All-Time Lows
5/10/2021 10:28 AM
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) reports that the percentage of non-current mortgages dropped by 35 basis points (bps) in the first quarter of 2021. According to MBA vice president Marina Walsh, it was the largest quarterly decline in delinquencies in the history of the Association"s National...Read More
Sales Jobs; Retention, Purchase, Servicing, Reverse Products; Webinars and Training; Interview With Economist Elliot Eisenberg
5/10/2021 9:09 AM
Posted To: Pipeline PressHere at the MBAG event in Northern Florida some of the topics of conversation is the economy, the inability to predict interest rates, families, and lending. It has been reported that 25 to 34-year old’s spend more on mothers than any other age group for Mother...Read More
MBS Day Ahead: Attention Turns to Auctions and Inflation Metrics
5/10/2021 8:44 AM
Posted To: MBS CommentaryThe week gets off to a slow start without any significant data on tap for Monday or Tuesday. The Treasury auction cycle becomes more relevant on Wednesday with a record high dollar amount of 10yr notes hitting the market at 1pm ET. Earlier that morning, core consumer prices (inflat...Read More
Rates Reacted to Jobs Report, But Not Like You"d Expect
5/7/2021 6:32 PM
Posted To: Mortgage Rate WatchOnce a month, the government releases the Employment Situation, also known as "the jobs report." No other piece of economic data is as consistently relevant for the bond market and, thus, interest rates. For most of the past year, the normal correlation between jobs and rates was o...Read More
MBS RECAP: Bonds Fail to Capitalize on Super Weak Jobs Report
5/7/2021 2:44 PM
Posted To: MBS CommentaryBonds Fail to Capitalize on Super Weak Jobs Report Nonfarm Payrolls came in at 266k compared to a median forecast of 978k. That's one of the biggest misses ever and it was no surprise to see bonds rally significantly in response. It was definitely a surprise to see how quickly ...Read More
What"s Behind the Surge in Lumber Prices?
5/7/2021 10:37 AM
Posted To: MND NewsWireIn a recent post on the National Association of Home Builder"s (NAHB"s) Eye on Housing blog, chief economist Paul Emrath said rising softwood lumber prices have added $35,872 to the price of an average new single-family home , and $12,966 to the market value of an average new multifamily home. The ...Read More
Forbearance Exits Soar as More Plans Expire
5/7/2021 9:15 AM
Posted To: MND NewsWireThere was a sharp decline in the number of loans in forbearance during the week ended May 4. Black Knight says this has come to be the norm during the early weeks of each month. Overall forbearance volumes dropped by 105,000, a 4.5 percent improvement. The company, in its weekly report, said there ...Read More
Accounting, Ops, MLO Jobs; AMC, Lead, Warehouse Products; Financial Transparency; Employment Figures Sink Rates
5/7/2021 9:11 AM
Posted To: Pipeline PressIt’s Friday, so how ‘bout some non-mortgage supply and demand stuff? Let me start with an apology to Willie Mays’ family (who may or may not read this daily mortgage commentary) for missing his 90 th birthday yesterday. (Years ago he was known for w...Read More
Mortgage Rates Are Low and Stable, But Face Bigger Risks Tomorrow
5/6/2021 3:06 PM
Posted To: Mortgage Rate WatchMortgage rates moved lower today, bringing the average lender to the best levels since late February. Despite the milestone, the day-over-day movement in rates has been pretty mild. Most lenders are making changes that are only noticeable in the form of upfront costs (aka "points")...Read More