Mortgage News Daily:
Rates at All-Time Lows Ahead of Important Jobs Data
7/1/2020 3:48 PM
Posted To: Mortgage Rate WatchMortgage rates were generally unchanged today, thus leaving the average lender at all-time lows for conventional 30yr fixed scenarios. It continues to be the case that loan scenarios with additional risk factors have NOT seen nearly as much improvement as those in the top tier. In ...Read More
MBS RECAP: Limited Reaction to Headlines and Fed Minutes
7/1/2020 3:36 PM
Posted To: MBS CommentaryLimited Reaction to Headlines and Fed Minutes After a quiet trading day yesterday, today proved to be even quieter. That said, bonds were still willing to react to covid headlines and the Fed meeting minutes, albeit just barely enough to notice. Econ Data / Events 11:30-11:50 AM (E...Read More
Fed Meeting Minute Bullet Points: What"s Yield Curve Control?
7/1/2020 2:32 PM
Posted To: MBS CommentaryThe minutes from the most recent Fed meeting were released today. While there's not much left to be said when they've already been so clear about keeping rates low for a long time, we did get a few new thoughts about "yield curve control." That would basically ent...Read More
MBS Day Ahead: Economic Data Ramps Up Ahead of Week"s Early Close
7/1/2020 7:37 AM
Posted To: MBS CommentaryAfter a very slow start on Monday, yesterday's month-end trading session proved to be more consequential for Treasuries with yields ultimately rising enough to make it back to the doorstep of the uptrend they'd broken out of only 2 days prior. A picture is worth more than a...Read More
Purchase Apps Retreat Again as Inventory Dries Up
7/1/2020 7:16 AM
Posted To: MND NewsWireApplications for both refinancing and purchase mortgages retreated last week , pulling the Mortgage Bankers Associations (MBA"s) Market Composite Index lower for the second time in as many weeks. MBA said the index, a measure of application volume, declined by 1.8 percent on a seasonally adjusted b...Read More
MBS RECAP: Surprisingly Quiet Quarter-End Trading. No Objections Here
6/30/2020 3:46 PM
Posted To: MBS CommentarySurprisingly Quiet Quarter-End Trading. No Objections Here The last trading day of any given month (especially if it's also the end of a quarter) can often see elevated volatility without any obvious motivation (here's why). While that was sort of the case for Treasuries to...Read More
Best Month Ever For Mortgage Rates
6/30/2020 2:36 PM
Posted To: Mortgage Rate WatchMortgage rates managed another slight improvement today, which means the average lender is offering new all-time low rates for the 4th time this month. Even if rates had lurched unexpectedly higher today, June still would have gone down as the best month in the history of the mortg...Read More
Home Prices "Remarkably Stable" in April
6/30/2020 9:12 AM
Posted To: MND NewsWireHome prices continued to hold up on a national basis in April. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, reported a 4.7 percent annual gain in April, up from 4.6 percent in March. The National Index posted a 1.1 percent month-over-mo...Read More
Servicing, Inspection, Loss-mit Products; CFPB"s Structure to Change; Ginnie Adjusts Pooling Requirements
6/30/2020 7:50 AM
Posted To: Pipeline PressSome days you don’t learn much, other days you learn a lot (skip the ad). We’ve learned that COVID is driving our economy, not fundamental economic news, and at this point virologists have better forecasts than economists. Appearing with Treasury Secretar...Read More
Mortgage Rates Continue at All-Time Lows, But Caveats Remain
6/29/2020 2:52 PM
Posted To: Mortgage Rate WatchMortgage rates were unchanged to slightly lower today, bringing the average lender right in line with all-time lows . Averages aside, several lenders are slightly higher than they were on Friday. Either way, the movement was minimal over the weekend. Beyond that, no conversation ab...Read More