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July 11, 2014

  • 11:16am

    Posted To: MND NewsWire

    The Federal Housing Finance Agency (FHFA) has released new draft requirements for private insurance companies that insure mortgages purchased by the two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae. FHFA is inviting public comment on the draft which incorporates standards for financial capital requirements, enhanced operational performance expectations and defines remedial actions that would...
  • 11:04am

    Posted To: MBS Commentary

    Bond markets have been stronger today, and have carved out a linear trend of improvements from morning price levels. Interestingly enough, this strength is not something that's easily pinned on Europe or other overt factors. Treasuries have outperformed German Bunds (not something we'd be as likely to see if the strength was EU-led). While weakness in equities could be part of the...
  • 10:33am

    Posted To: Pipeline Press

    After my swimming lessons, my grandmother would take me to 7/11 for a Slurpee. She'd count out her carefully saved coins, and I would have a refreshing treat - great memories! (I was 42 years old, but no matter.) Did you know that today, and every 7/11, participating 7-Eleven stores are giving out free small Slurpee drink from 11AM to 7PM? (See, and you say you never learn anything...
  • Posted To: MBS Commentary

    There are no significant economic reports on the calendar today, and the week's auction cycle is already wrapped up. While there are two Fed speakers, the speeches are unlikely to be major market movers. That leaves Europe and Equities markets as the two key considerations for bond markets. As always, the technical/tradeflow landscape can play a part as well. In that regard, 10yr yields don...

July 10, 2014

  • Posted To: Mortgage Rate Watch

    Mortgage rates continued lower today , helped along this time by European markets. Although mortgage rates are most directly influenced by prices of mortgage-backed-securities (MBS), MBS themselves are influenced by broader bond market movements. The most direct influence comes from US Treasuries, but Treasuries in turn are affected by European bond markets. This was the case overnight as...
  • Posted To: MBS Commentary

    Eurozone contagion made an appearance today in much the same way it did for nearly all of 2010-2012. This time around, it's Portugal's Banco Espirito Santo causing problems for Portugal's sovereign borrowing costs. This in turn drove flights-to-safety in more stable EU countries. The posterchild for such countries is Germany, and as goes Germany's bond market overnight, so goes...
  • Posted To: MND NewsWire

    Part 4 of the recent edition of the Harvard Joint Center on Housing Studies' report on the State of the Nation's Housing looks at the declining rate of homeownership in the U.S. which has now fallen for the seventh straight year. The rate edged down 0.3 percentage points in the 2012-13 time period to 65.1 percent while the number of homeowner households also fell for the seventh straight year, declining by 76,000...
  • 11:27am

    Posted To: MBS Commentary

    Core European debt markets set the tone for the overnight session. That means German Bunds big rally helped US Treasury yields move lower overnight. One of the key root causes for today's move is the same sort of EU contagion that was so prevalent back in 2012. That dynamic saw peripheral countries' borrowing costs spiral higher, and the systemic consequences for the Euro currency fueled...
  • 10:23am

    Posted To: MND NewsWire

    Normal 0 false false false EN-US X-NONE X-NONE Applications for new home purchase mortgages declined in June for the second month in a row the Mortgage Bankers Association (MBA) said today. Its Builder Application Survey (BAS), taken among mortgage subsidiaries of builders throughout the US, showed that 5 percent fewer applications were made during June than in May. There was an estimated 8 percent decline from...
  • 10:21am

    Posted To: Pipeline Press

    Although Bismarck, ND is a fine city, it did not make Zillow's Best Places to Buy a Vacation Home list. I read many articles during the course of the week but this one is pretty interesting and managed to capture my attention away from Tetris for a while. Zillow created an index, known as the Second Home Index (SHI) in order to surface U.S. cities near popular vacation destinations...

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