Mortgage News Daily:
MBS RECAP: Indecisive, Sideways Trading After Fed Day
9/19/2019 4:45 PM
Posted To: MBS CommentaryRelative to the expectation for yesterday's Fed events to cause volatility, the movement we've seen in the bond market has been fairly pitiful in response. Seriously folks... I can't think of a bigger gap between they hype and the outcome with respect to Fed days. Today...Read More
Think The Fed Cut Mortgage Rates? Think Again
9/19/2019 3:23 PM
Posted To: Mortgage Rate WatchHere is exactly what yesterday"s Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn"t set mortgage rates. Don"t let the caps-lock fool you into thinking I"m some angry guy with a k...Read More
2018"s Home Sales Slump Now Fully Erased
9/19/2019 10:17 AM
Posted To: MND NewsWireWhile the increase wasn"t as strong as in July, last month"s existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales of previously owned single-family houses, townhouses, condominiums, and...Read More
MBS Day Ahead: Bonds Set to Battle Potentially Important Level
9/19/2019 8:16 AM
Posted To: MBS CommentaryIn the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fine-tuning adjustment or the beginning ...Read More
Originator, Servicing, Correspondent Products; Why Extensions Cost Money
9/19/2019 7:52 AM
Posted To: Pipeline PressThe residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall approved broker client base and focusing ...Read More
Fannie Mae Turns Bullish on Construction, Best Levels Since May
9/19/2019 7:38 AM
Posted To: MND NewsWireFannie Mae says consumer spending will continue to support the economy. The company"s Economic Summary for September cites increases in auto and retail sales, real disposable personal income, and real personal consumption expenditures (PCE) as evidence of that strength. In the monthly report, writt...Read More
MBS RECAP: What Fed Day? This One Was a Dud
9/18/2019 4:49 PM
Posted To: MBS CommentaryAs far as Fed days go--especially the kind where we get updated economic projections--today's example was pretty damn uneventful. These things happen from time to time, but this wasn't exactly a day where a "dud" announcement was seen as being very likely. Markets...Read More
HIGHER Mortgage Rates Despite Fed Rate CUT. Here"s Why
9/18/2019 3:54 PM
Posted To: Mortgage Rate WatchOne of the greatest potential sources of confusion for prospective mortgage borrowers is the relationship between the Fed and mortgage rates. While the Fed"s policy changes absolutely have a big impact on all sorts of interest rates (including mortgages), a drop in the Fed"s policy...Read More
Differences Between Previous and Current FOMC Statements
9/18/2019 1:02 PM
Posted To: MBS CommentaryInformation received since the Federal Open Market Committee met in JuneJuly indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained...Read More
Housing Permits and Starts Hit Highest Levels in a Year
9/18/2019 9:23 AM
Posted To: MND NewsWireAugust turns out to have been among the year"s strongest periods for residential construction. While analysts had expected builders to shake off some of the lethargy that has dogged the industry for most of the year, increasing at least the rate of housing starts. However results exceeded expectati...Read More