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Mortgage News Daily
- Bonds Calmly Hold Overnight Gains January 21, 2025Bonds Calmly Hold Overnight Gains This morning's commentary focused on a bond rally in response to an absence of heavy-handed specificity in Trump's initial salvo of executive orders--specifically with respect to trade policy. In not so many words, massive, immediate tariffs have been referred to agencies for research and comment. Bonds (via futures) rallied on […]
- Mortgage Rates Unimpacted by New Executive Orders January 21, 2025Mortgage rates are driven predominantly by the bond market and bonds were able to clear up a few curiosities on inauguration day. Specifically, traders expected multiple executive orders with several focusing on proposed tariffs. While history suggests the conventional wisdom may be faulty, the general belief is that tariffs increase inflation. Considering inflation correlates with […]
- Non-QM, DPA, HELOC, Borrower Servicing Products; FTC and Leads; Freddie,Fannie, and FHFA News January 21, 2025Please don’t touch my pizza! In a decision that has left countless fans disappointed,, including many in the mortgage ranks, Costco has decided to remove the $1.25 fries option from the food court menu entirely. The decision comes at a time when the retailer identified certain items as being “loss leaders,” which include the $5 […]
- Bonds Open Stronger Thanks to Tariff Uncertainty January 21, 2025Trump issued numerous executive orders on Monday, but conspicuously absent was any specific directive regarding tariffs. This was one of the key areas of focus for financial markets. While there are few different ways it could be traded, one of the simplest was from an inflation standpoint. With specifics TBD, bonds breathed a modest sigh […]
- Slightly Weaker Drift, But Broadly Uneventful January 17, 2025Slightly Weaker Drift, But Broadly Uneventful Friday may as well have been a 4th weekend day for the bond market. Volume and liquidity were obviously in holiday mode. Trading levels were basically flat, although it might not feel that way if you're seeing MBS prices end the day down more than an eighth of a […]
- Uneventful Day For Mortgage Rates January 17, 2025Mortgage rates are driven by the bond market and Friday was the least active day of the week for bonds. There were no major economic reports to cause rapid changes in trading levels. As such, mortgage rates started out very close to the levels seen yesterday and most lenders didn't make any mid-day changes. The […]
- Homebuilder Confidence Consolidation Continues January 17, 2025While it would be technically accurate to point out a slight increase in January's homebuilder confidence (officially the National Association of Homebuilders Housing Market Index or HMI ), the type of movement we've seen in the past 2 years is better characterized as "incidental" in the bigger picture. As with most housing-related metrics, HMI plummeted […]
- Housing Construction Bounced Back in December Thanks to Multifamily Sector January 17, 2025The US Census Bureau released its New Residential Construction report for December today. The report measures building permits, the start of the construction process (housing starts), and housing completions. While construction has definitely been running well below the highs seen 3 years ago, it continues to operate just above pre-pandemic levels. That's something that can't […]
- AMC Alternative, Verification, Realtor Fee Financing Tools; Letter to FHFA Director January 17, 2025We’re more than halfway through January already, the MBA has lowered its 2025 projection to $2.1 trillion, and there is a sense of “wait and see” out there among lenders and vendors regarding rates, products, regulations… Maybe you should do something besides just making a few extra calls. STRATMOR’s current blog is “Leaders Don’t Wait […]
- Pre-3 Day Weekend Volatility is a Thing January 17, 2025It always bears repeating that "predictions are for suckers" and if there were a hard and fast rule about what markets do in certain scenarios, traders could take advantage of those probabilities, thus restoring the odds to a more neutral level. With that disclaimer aside, in scenarios where rates rally fairly sharply on Wed/Thu with […]
Mortgage Rates Start Higher, But Improve in The Afternoon
Posted To: Mortgage Rate WatchMortgage rates are only adjusted once per day by default. From there, the underlying bond market would need to improve or deteriorate by a certain amount for the average lender to go to the trouble of a mid-day reprice. A small handful of lenders did that last Friday (bonds were deteriorating), […]
August 23, 2021
Matthew Graham
MBS RECAP: Treasuries Slide Sideways as MBS Outperform
Posted To: MBS CommentaryTreasuries Slide Sideways as MBS Outperform The most notable development today was the outperformance on the part of MBS. The most obvious culprit would be the looming Treasury auction cycle logically causing more anxiety for Treasuries. There’s also the distinct steepening of the yield curve, which tends to favor MBS when it’s […]
August 23, 2021
Matthew Graham
Existing Home Sales Back on the Rise as Inventories Improve
Posted To: MND NewsWireExisting homes sales posted the second consecutive increase in July after breaking out of a slump in June that had endured for four months. The National Association of Realtors®, (NAR) said sales of pre-owned single-family houses, town houses, condominiums, and cooperative apartments rose to a seasonally adjusted annual rate of 5.99 million […]
August 23, 2021
Jann Swanson
MBS Week Ahead: What is Jackson Hole (And What it Isn’t)
Posted To: MBS CommentaryThe Fed’s annual Jackson Hole symposium has often served as a venue for the Fed Chair to offer a sneak preview of impending policy changes or simply to provide a more candid assessment of how the Fed may react to potential changes in employment and inflation heading into the new year. While […]
August 23, 2021
Matthew Graham
Ops, MLO jobs; Whole Loan Sales, Jumbo, QC, Home Buying Education Products; Freddie and Fannie Changes
Posted To: Pipeline PressFires in California, floods in Tennessee, hurricanes in New York, COVID hospitalizations seemingly everywhere written up by the press. The “fun” never ends. Here in Orange County, at the California MBA’s Western Secondary, the talk in the hallways is focused not so much on huge shifts, because it looks like Freddie, Fannie, […]
August 23, 2021
Rob Chrisman
Rates Stuck in The Middle
Posted To: Mortgage Rate WatchRates are on hold until the next chapter is written in the complex saga of covid versus the market. This isn’t to say rates perfectly flat–simply that the prevailing momentum has been sideways for the past few weeks. Since mortgage rates only change once or twice a day, we can use […]
August 20, 2021
Matthew Graham
MBS RECAP: Moderate Weakness For Uneventful Reasons
Posted To: MBS CommentaryModerate Weakness For Uneventful Reasons Bonds lost some ground today with 10yr yields up roughly 2bps heading into the 3pm CME close and 2.0 MBS down an eighth of a point. Viewed holistically, the week was very calm and yields ended right in the middle of the range (1.22-1.30% in the narrowest […]
August 20, 2021
Matthew Graham
Fannie Mae Says COVID-19 Surge Won’t Impact Growth. Probably.
Posted To: MND NewsWireFannie Mae’s economists provided a mixed forecast this month. The baseline view of the company’s Economic and Strategic Research (ESR) group is for the recent virus surge to drag modestly on consumers’ services consumption in the near term and modestly worsen supply chain disruptions abroad, but they don’t think it will prevent […]
August 20, 2021
Jann Swanson
Although Dwindling, Serious Delinquencies Still a Concern
Posted To: MND NewsWireThe federal foreclosure moratoria expired at the end of July and, with some 1.45 million borrowers seriously delinquent on their mortgages but not in foreclosure, Black Knight says, “potential foreclosure activity in the coming months warrants close observation.” The majority of those seriously delinquent mortgages, however, are still in active forbearance plans. […]
August 20, 2021
Jann Swanson
Sales Mgt., MLO Jobs; HELOC, Warehouse, Blockchain, Licensing Tools; News on Jumbo and Non-QM Products
Posted To: Pipeline PressWho wants to work on a Friday in summer? Not me! I was pleased to find the Type The Alphabet Game , which times you on how fast you type the alphabet. Fun, and doesn’t take much time. For something different, and some of you may need a tissue when reading it, […]
August 20, 2021
Rob Chrisman
MBS Day Ahead: Random Volatility Risks As Traders Tune Out
Posted To: MBS CommentaryIt’s a good time to revisit the primer on illiquidity unless the term is 2nd nature for you ( here it is ). Illiquidity is definitely a factor today as traders have undoubtedly targeted it as a perfect candidate for a 3-5 day weekend due to the absence of any relevant events […]
August 20, 2021
Matthew Graham
Fannie’s New Rental History Credit Boost Not as Simple as it Sound
Posted To: MND NewsWireIt seemed like a simple solution for expanding the credit profile of many first-time homebuyers, but Fannie Mae’s new plan to utilize rent payment history to that end will not immediately remedy the situation. Linda Goodman and Jun Zhu, in a new post on the Urban Institute’s (UI’s) Urban Wire blog, say […]
August 19, 2021
Jann Swanson
Builders Pull Back on Housing Starts
Posted To: MND NewsWireIt seemed like a simple solution for expanding the credit profile of many first-time homebuyers, but Fannie Mae’s new plan to utilize rent payment history to that end will not immediately remedy the situation. Linda Goodman and Jun Zhu, in a new post on the Urban Institute’s (UI’s) Urban Wire blog, say […]
August 19, 2021
Jann Swanson
MBS RECAP: Bonds Finally Have a Boring Day
Posted To: MBS CommentaryBonds Finally Have a Boring Day 10yr yields traded in a range of less than 3bps during the domestic session today. From 10:30am on, that range narrowed to only 1bp. We haven’t had a day like this in a while–3+ weeks at the very least. When things are flat and boring, there’s […]
August 19, 2021
Matthew Graham
Mortgage Rates Near 2-Week Lows
Posted To: Mortgage Rate WatchMortgage rates were slightly lower today as the bond market improved for the 2nd straight day. When bonds prices move higher, bond yields (or rates) move lower, all other things being equal. In the current case, bonds were generally cautious heading into yesterday’s reading of the minutes from the most recent […]
August 19, 2021
Matthew Graham
