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July 24, 2014

July 23, 2014

  • Posted To: Mortgage Rate Watch

    Mortgage rates were mixed today depending on the lender and the time of day you look. Most recently, the average lender is back to unchanged vs yesterday. Before that, most lenders were in slightly better shape, but market weakness prompted widespread reprices. On an individual basis, some lenders are slightly higher or lower, especially if they didn't reprice with the rest of the market. 4.125%...
  • Posted To: MBS Commentary

    Although MBS did a good job of pushing back against a recent bout of underperformance over the past 3 sessions, today showed it won't be a straight shot. In other words, MBS had closed the gap to Treasuries somewhat since Friday, but it widened again today . This was ultimately only exceptionally noticeable compared to yesterday. When viewed against the backdrop of the past 5 days, nothing...
  • 11:58am

    Posted To: MND NewsWire

    The theme for the economy and the housing market's in 2014 has been set for months; the economy will continue to slowly strengthen; the modest recovery in housing will be sustained . Each monthly or quarterly report or round of economic analysis seems to merely join the chorus. Fannie Mae's most recent entry on Wednesday merely added a new note. Growth is expected to strengthen during the second half, but not...
  • 11:55am

    Posted To: MND NewsWire

    Black Knight Financial Services said today that both delinquencies and foreclosure starts were up slightly in June. The information was part of the company's “first look” preview of data from its Mortgage Monitor report that will be published in early August. The nation's delinquency rate, that is the percentage of mortgages that were 30 or more days past due but not in foreclosure, was 5.70 percent,...
  • 11:49am

    Posted To: MBS Commentary

    In terms of domestic economic data and events, not much has happened today. The key driver of morning gains was the reaction to Bank of England Minutes and comments from BOE Governor Mark Carney. Long story short, all of the above turned out a bit friendlier than bond markets expected. Both stocks and bonds then embarked on that familiar "QE-on" trading pattern where stock prices rise...
  • Posted To: Pipeline Press

    Captain Obvious likes to say, "Home prices don't always go up." It's probably a cliché at this point, but it's better than the, "Buy as much home as you can afford" of the '00's. Both phrases deserve to be in the Mortgage Banking Hall of Fame (right next to "Wall St. meets Main St."), however, with the purchase market on many people's business agendas this year I was...
  • Posted To: MND NewsWire

    Normal 0 false false false EN-US X-NONE X-NONE The Market Composite Index, a measure of loan application volume had its first positive week since June 6 last week, increasing 2.4 percent on a seasonally adjusted basis from the previous week. The Mortgage Bankers Association (MBA) said its unadjusted volume index also finished the week ended July 18 with an increase, up 3 percent. All other weekly indicators also...
  • Posted To: MBS Commentary

    Having spent the last 4 sessions trading near 2.47%, 10yr yields are operating in an important zone historically. For all intents and purposes, yields have only ever moved decisively through this zone one time without bouncing back shortly thereafter. That was in 2011. Personally, I view mid-2011 to mid-2013 as a perfect storm of sorts where multiple factors all conspired toward the same...

July 22, 2014

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