Mortgage News Daily:
Residential Construction No Longer Dominating Spending
12/1/2021 3:55 PM
Posted To: MND NewsWireNational spending on construction spending rose slightly in October, but for the second month in a row, the increase wasn"t driven by the residential sector. The U.S. Census Bureau reported that construction put in place during the month was at a seasonally adjusted annual rate of $1.598 trillion, ...Read More
Mortgage Rates Rise Then Fall as Volatility Persists
12/1/2021 3:33 PM
Posted To: Mortgage Rate WatchMortgage rates were much lower at the start of business yesterday , but began rising in the afternoon as the bond market lost ground. That same momentum continued in the overnight trading session. By the time mortgage lenders were setting rates this morning, bonds had deteriorated ...Read More
MBS RECAP: Weaker Start, Stronger Finish on Omicron News
12/1/2021 3:32 PM
Posted To: MBS CommentaryWeaker Start, Stronger Finish Volatility has been elevated for the bond market in the past 4 weeks and especially in the past 2 weeks. Today was one of the milder days, but it was still good for a reasonably big shift from overnight levels to closing levels. During that time, yield...Read More
MBS Morning: Data, Fed, Issuance, And Variant Watching
12/1/2021 10:09 AM
Posted To: MBS CommentaryIt's an interesting, confusing, and tumultuous moment for financial markets as traders digest an unprecedented confluence of relevant events. Two events account for a vast majority of this thesis: a potential shift in Fed policy at the next meeting and the unknowns surrounding ...Read More
Rates Rise, Refi Share Drops to Eight Month Low
12/1/2021 10:05 AM
Posted To: MND NewsWireThanksgiving week, a three-day business week for many, saw the usual sharp decline in mortgage activity although purchase applications remained seasonally strong. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage application volume, fell 7.2 percent on a ...Read More
Coaching, Jumbo, Medical Professional Products; Investors Follow Conventional Conforming Limit Changes
12/1/2021 10:01 AM
Posted To: Pipeline PressLenders are focused on December, and 2022, and along those lines the MBA’s Chief Economist Mike Fratantoni will be presenting a forecast today for next year. Of immediate concern are year-end closings: this is the day of the year when a 30-day rate lock doesn&r...Read More
MBS RECAP: Big Swings as Covid Squares Off Against The Fed
11/30/2021 3:19 PM
Posted To: MBS CommentaryBig Swings as Covid Squares Off Against The Fed It was omicron vs the Fed today and bonds had a front row seat. In the overnight session, comments from Moderna's CEO (lower vaccine efficacy expected for omicron variant) sent stock prices and bond yields screaming lower. Then at...Read More
Mortgage Rates Much Lower So Far This Week
11/30/2021 2:50 PM
Posted To: Mortgage Rate WatchMortgage rates ended the previous week with a hopeful outlook due to the omicron variant. In general, rates benefit from news and events that cause investors to seek protection from risk. A fresh dose of risk aversion was served up overnight as Moderna"s CEO said he expected vaccin...Read More
Mortgage Profits Rebound from Q2 Slide
11/30/2021 11:55 AM
Posted To: MND NewsWireWhile the profits were nowhere near 2020 levels, independent mortgage banks and mortgage subsidiaries of chartered banks reported their third quarter 2021 gains did improve on those in Quarter 2. The report from the Mortgage Bankers Association (MBA) on mortgage bankers" performance showed an avera...Read More
2022 Conforming Limits Rise 18 Percent to $647,200
11/30/2021 11:52 AM
Posted To: MND NewsWireThe new conforming loans limits for mortgages that can be acquired by Fannie Mae and Freddie Mac were announced this morning by the Federal Housing Finance Agency (FHFA). As expected, the changes reflect the nearly unprecedented price gains over the last year. Earlier today FHFA posted third quarte...Read More