Mortgage News Daily:
MLO Jobs; BI, HELOC, Joint Venture, Sales Tools; Bank Market Share Study; Upcoming Events; Jumbo News
10/22/2021 9:31 AM
Posted To: Pipeline PressSemper Fi! Tomorrow marks the 38th anniversary of the 1983 bombing in Beirut of a U.S. Marine barracks in the largest conventional explosive blast in history killing 241 Americans. San Diego has a huge military presence, and while there I spent a few hours with the f...Read More
MBS Morning: Have Bonds Sold Off Enough to Catch a Break?
10/22/2021 9:04 AM
Posted To: MBS CommentaryTo buy the dip or not to buy the dip (in bond prices). That is the question faced by traders today as 10yr yields hit the 1.70% technical level in after hours trading yesterday. This potential technical support coincides with the upper boundary of the ongoing trend channel. The day...Read More
Big Jump in Home Sales--Impressive Considering The Lack of Supply
10/21/2021 3:27 PM
Posted To: MND NewsWireExisting home sales resumed an upward trajectory in September after dipping 2.0 percent in August. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhouses, condominiums, and cooperative apartments rose 7.0 percent in September, although this still le...Read More
MBS RECAP: Fear of The I-Word
10/21/2021 3:21 PM
Posted To: MBS CommentaryFear of The I-Word Today's 5yr TIPS auction met with heavy demand for inflation protection. While that didn't move markets at the time, it nonetheless underscores the heavy inflation concern driving traders to flatten the yield curve and move up estimated Fed rate hike timi...Read More
Another Day; Another Long-Term High For Rates
10/21/2021 2:30 PM
Posted To: Mortgage Rate WatchMortgage rates haven"t really been able to catch a break recently. This week is shaping up to be one of the worst since March. Since then, only 2 other weeks have been worse and they both occurred in the past month. In and of itself, today"s jump in rates wouldn"t be too troubling,...Read More
Recruiting, MLO Jobs; Processing, Automation, Pricing, MSR Sales, Non-Agency Products; Vendors to Watch
10/21/2021 9:57 AM
Posted To: Pipeline PressThousands of people in the residential lending biz headed to the San Diego aerodrome and flew home. Plenty were sore from wearing dress shoes everywhere, although I saw plenty of gals in flip flops while in transit. Guys are happy to stop wearing ties. Masks at the a...Read More
MBS Morning: The Trend is Not Your Friend
10/21/2021 9:51 AM
Posted To: MBS CommentaryConsidering yields have pushed to new long-term highs on 3 out of the past 3 days, it's safe to say that bonds are "trending" as opposed to flat/sideways. Covid cases are down sharply week-over-week. Econ data continues to be decent enough. And there are no signs that...Read More
MBS RECAP: Sideways to Slightly Weaker After Another Long-Term High
10/20/2021 3:24 PM
Posted To: MBS CommentarySideways to Slightly Weaker After Another Long-Term High 10yr yields hit a 5-month high early in the overnight session and then managed to claw their way back to modestly stronger levels by the start of domestic trading. Amid a dearth of data and actionable headlines, bonds were le...Read More
Mortgage Rates Hold Steady Near Multi-Month Highs
10/20/2021 2:44 PM
Posted To: Mortgage Rate WatchMortgage rates began moving off longer term lows in early August and that trend has continued ever since. The September 22nd Fed Announcement (and press conference with Fed Chair Powell) served as a jumping-off point for additional volatility and upward momentum. In contrast, Octob...Read More
MBS Morning: Range-Finding With 2 Weeks Until Fed Day
10/20/2021 9:31 AM
Posted To: MBS CommentaryToday has the dubious distinction of being exactly 2 weeks before the Fed announcement (the one that's likely to contain the official tapering announcement). While tapering seems like a bad thing for rates, the timing is important. The most relevant precedent (2013/2014) sugges...Read More