Mortgage News Daily:
Mortgage Rates Stage Nice Comeback, But Uncertainty Remains
5/29/2020 4:50 PM
Posted To: Mortgage Rate WatchMortgage rates staged a nice little comeback today, moving back toward the all-time lows seen late last week. Mortgage rates are determined primarily by the bond market, and the bond market benefited from strong demand at the end of the month. Higher demand means higher prices, and...Read More
Portfolio Monitoring, Non-QM, Corresp., Broker Products; Customer Satisfaction Survey
5/29/2020 8:12 AM
Posted To: Pipeline PressHere’s something you can do for your friends, relatives, and borrowers, especially older ones: Remind them that the current batch of coronavirus relief payments are coming as VISA debit cards . Texas’ Larry C. reminded me that we’ve all unexpectedly...Read More
MBS Day Ahead: Bonds Look to Challenge Trend With Powell on Deck
5/29/2020 7:52 AM
Posted To: MBS CommentaryThe next Fed announcement is 1.5 weeks away and so it's time to start ramping up expectations for the details of the Fed's official QE announcement. But wait... Aren't they buying a ton of bonds already? Indeed, the Fed continues purchasing both MBS and Treasuries in re...Read More
April"s Forbearance Requests Slow to a Relative Trickle
5/29/2020 7:36 AM
Posted To: MND NewsWireBlack Knight says its research is showing that the numbers of new forbearance plans for homeowners financially affected by the COVID-19 pandemic have slowed to a trickle compared to the tidal wave in early April. Only 7,000 new plans were put in place during the week ended May 26 compared to a 325,...Read More
Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)
5/28/2020 3:38 PM
Posted To: Mortgage Rate WatchIt"s Thursday, and thus time once again for Freddie Mac"s weekly mortgage rate survey. This is the longest-running and most widely-cited snapshot of mortgage rates in the US, but it frequently results in misinformation for mortgage shoppers . The survey does an accurate job of capt...Read More
Pending Sales Rout May Signal a Bounce for Housing - Realtors
5/28/2020 9:46 AM
Posted To: MND NewsWirePending home sales cratered again in April, marking two straight months of declines that exceeded 20 percent. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) fell 21.8 percent to 69.0. The decline in March was 20.8 percent. The Index is down by 33.8 percent ...Read More
MBS Day Ahead: Why We"re Watching Treasuries
5/28/2020 8:14 AM
Posted To: MBS CommentaryThe market reaction to coronavirus made a mess of the relationship between Treasuries and MBS (and between MBS and mortgage rates for that matter). These disconnections can happen from time to time and when they do, we stop following trends in Treasuries and focus on MBS. In fact, ...Read More
Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop
5/28/2020 7:51 AM
Posted To: Pipeline PressWith two business days left in May, one can feel the anticipation of the start of the “National Standing Desk League” opener coming up soon. I’m excited about that, and I’m excited that it’s garbage day here at the house. Taking out the ...Read More
Mortgage Rates Hold Steady
5/27/2020 3:56 PM
Posted To: Mortgage Rate WatchMortgage rates managed to stay sideways today after beginning the week with a move higher yesterday. This is a victory all things considered. Rates take guidance from multiple sources. When it comes to mortgages, the prices of mortgage-backed bonds are the key ingredients in determ...Read More
Freddie"s Loan Portfolio on Pace to Increase by 14.3 Percent This Year
5/27/2020 9:35 AM
Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 14.3 percent in April, up from a 9.2 percent gain in March and the largest rate since December. The portfolio balance at the end of the period was $2.396 trillion compared to $2.368 trillion at the e...Read More