Author Archive

18
Dec

MBS RECAP: Bond Markets Flat-Line After Overnight Weakness

Posted To: MBS Commentary Depending on where you want to draw the line between the overnight and domestic sessions, nothing really happened today. Bond markets were basically done doing much of anything by 9:15am, and even that early morning movement was primarily driven by late-day trading in Europe. It was as if yesterday's FOMC Announcement [...]

18
Dec

Mortgage Rates are Actually Higher Today

Posted To: Mortgage Rate Watch Mortgage rates moved higher at a much quicker pace today. This runs counter to the most widely-circulated weekly rate report from Freddie Mac, which indicates a new low for 2014. The Freddie data isn’t wrong, just a little behind. Still, it’s important for consumers to understand that today’s rates are [...]

18
Dec

Mortgage rates hit a new low for the year

Amid falling gas prices and investor nervousness, the average rate for a 30-year fixed-rate loan fell to 3.8%, a rate not seen since May 2013.

17
Dec

Mortgage Rates Slightly Higher After Fed Announcement

Posted To: Mortgage Rate Watch Mortgage rates rose at an acceptable pace today, following the FOMC Announcement and press conference. Rates are driven by bond markets (mortgage-backed-securities, to be specific) and bond markets make a big deal of digesting and reacting to Fed policy. The FOMC Announcement is the Fed’s most official statement and has [...]

17
Dec

MBS RECAP: Fed’s Tricky Statement Lets Markets Choose Their Own Adventure

Posted To: MBS Commentary Today's FOMC Announcement and ensuing press conference caused significant volatility (albeit, within a historically narrow range) for bond markets. One of the main reasons for the initial volatility is that the traditional methods of quickly sorting through the changes in the statement were more or less "broken" by the way the [...]

16
Dec

MBS RECAP: Hungry Bond Rally Finds More to Eat

Posted To: MBS Commentary As Fannie 3.5 MBS pushed over 104 and 10yr yields moved down toward 2%, it became increasingly clear that the bond market rally required an ever-larger supply of motivation to continue rallying. When we actually lost ground yesterday despite the some fairly negative news around the world, it looked like we'd [...]

16
Dec

Mortgage Rates Back to Pre-Taper-Tantrum Levels

Posted To: Mortgage Rate Watch Mortgage rates fell decisively today, bringing some lenders back in line with rate sheets seen on May 22nd, 2013. That’s significant because it was arguably the first day of the ‘Taper Tantrum,’ when markets began pricing in the effects of a reduction in Fed asset purchases. On a more quantitative [...]

15
Dec

Mortgage Rates Steady at 2014 Lows

Posted To: Mortgage Rate Watch Mortgage rates held steady today on average, but were slightly higher or lower depending on the lender. In either case, there hasn’t been much movement from Friday’s latest rate sheet offerings. That leaves 3.875% intact as the most prevalent conforming 30yr-fixed quote for top tier scenarios. 3.75% is very close [...]

15
Dec

Residential Remodeling Numbers Flat in Most of Country

Posted To: MND NewsWire The BuildFax Remodeling Index for October indicates a slight slowdown in the number of building permits issued for the purpose of residential remodeling from the previous month. The number of these permits, however were substantially increased compared to one year earlier. Permits issued nationwide in October were at a seasonally adjusted [...]

12
Dec

Robo-Call Debt Collection Practices under Fire

Posted To: MND NewsWire Bank of America was hit this week with another civil penalty , this time for making what are termed excessive and harassing mortgage debt collection calls. A federal court judge has ordered the bank to pay over $1 million to Nelson and Joyce Coniglio who received, according to court documents, over [...]