Mortgage News Daily:
Mortgage Rates Drop as Bond Gains Accelerate
7/17/2019 4:27 PM
Posted To: Mortgage Rate WatchMortgage rates improved today, depending on the lender and the time of day! Underlying bond markets were only modestly stronger in the morning. As such, the average lender only offered modest improvements over yesterday"s rates at first. But as the day progressed, market volatility...Read More
MBS RECAP: Stocks" Mini-Meltdown Helps Bonds Rally Big
7/17/2019 4:26 PM
Posted To: MBS CommentaryWhat began as a rather unassuming summertime Wednesday quickly turned in to one of the biggest rally days in weeks for bonds. 10yr yields moved more than 6bps lower to end the day well under the important 2.06% technical level and Fannie 3.0 MBS gained a quarter of a point. Althoug...Read More
June Construction Numbers Tried to Hang on, But Failed to Impress
7/17/2019 10:25 AM
Posted To: MND NewsWireThe residential construction numbers in June were expected to come in largely in the same neighborhood as in May. Analysts however got it only half right. While starts fell fractionally, permits took a dive, falling by 6.1 percent compared to the previous month. The U.S. Census Bureau and Departmen...Read More
Comp, Broker, Compliance Exam Products; F&F Changes; The Fed and Rates
7/17/2019 9:04 AM
Posted To: Pipeline PressI encounter plenty of people in the mortgage biz, from part-time receptionists to owners, who are focused on helping consumers. It’s a good thing! And they ask me about consumer education. (“Have you ever heard of a class for anyone on home buying or the ...Read More
MBS Day Ahead: Bonds Trying to Shake Off Last Week"s Bad Vibes
7/17/2019 8:23 AM
Posted To: MBS CommentaryIn the day just passed, a strong Retail Sales report kept the pressure on bond markets to remain in the negative trend that prevailed last week. Yields have been moving progressively higher since the June 5th jobs report catalyzed a confirmed break of a narrow, consolidation patter...Read More
Fannie Mae Sees Economic Slowdown...Slowing
7/17/2019 7:34 AM
Posted To: MND NewsWireThis month marks the tenth anniversary of the current expansion. How much longer can it last? Fannie Mae"s July Economics Development report indicates it has a way to go, although likely at a slowing pace. The second quarter of 2019 has just ended, but Fannie Mae"s ESR Macroeconomic Forecast team e...Read More
Higher Rates Stunt Post-Holiday Application Volume Recovery
7/17/2019 7:16 AM
Posted To: MND NewsWireMortgage application activity retreated again during the week ended July 12, although refinancing remained strong. The Mortgage Bankers Association (MBA) said its Market Composite index, a measure of application volume, was down 1.1 percent on a seasonally adjusted basis from the previous week. Tha...Read More
MBS RECAP: Late Day Reslience But Negative Trend Remains Intact
7/16/2019 5:27 PM
Posted To: MBS CommentaryBonds began the day in roughly unchanged territory. On the one hand, that was impressive considering the lack of substance underlying yesterday's rally. On the other hand, that lack of substance meant we were at risk of a bigger reaction to the Retail Sales data. Retail Sales c...Read More
Mortgage Rates Under Modest Pressure After Retail Sales Data
7/16/2019 3:34 PM
Posted To: Mortgage Rate WatchMortgage rates were flat to slightly higher today, following a stronger-than-expected Retail Sales report. The bond market (which dictates mortgage rates) was eagerly awaiting the week"s first major economic data. Even though the Fed will almost certainly cut rates at the end of th...Read More
Builder Confidence Holds Steady, Labor Shortages Persist
7/16/2019 10:25 AM
Posted To: MND NewsWireBuilder confidence rose slightly in July. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors with Wells Fargo, gained one point, rising to 65. This marks the sixth consecutive month that sentiment levels have held at a steady range in the low- to...Read More