Author Archive

22
Oct

MBS RECAP: Super Flat Day Signals an End to Week-Long Consolidation

Posted To: MBS Commentary When you see the word " consolidation " in market analysis–especially with respect to movement in securities prices/yields–it might as well read "correction." Simply put, a consolidation is the diffusion of the volatility. Rates spike higher or lower. Market participation picks up significantly. Then the crowd disperses. That almost always involves [...]

22
Oct

Mortgage Rates at a Standstill, but not for Long

Posted To: Mortgage Rate Watch Mortgage rates had their single flattest day since October 2nd today. This is the polar opposite of last week’s exceptional volatility. The most interesting thing about it is that this is the way rates typically respond to that kind of rapid movement. It goes something like this: one day, in [...]

22
Oct

Six-figure oil jobs hurting home builders

Read full story for latest details.

21
Oct

Big Oil keeps stealing my construction workers!

In the oil boom towns of North Dakota, Texas and Colorado there’s a big demand for new homes — but there’s no one to build them. That’s because construction companies keep losing skilled workers to the oil companies, which are offering big bonuses and six-figure salaries.

21
Oct

MBS RECAP: Bond Markets Holding up Well Against Stock Market Strength; MBS Better Still

Posted To: MBS Commentary It turned out to be an exceedingly uncomplicated day for Treasuries by the time US trading hours rolled around. Before that, yields moved sharply higher in the overnight session after news of potential ECB corporate bond buying . This isn't something that's currently on the table for discussion in the upcoming [...]

21
Oct

Mortgage Rates Sideways to Slightly Higher

Posted To: Mortgage Rate Watch Mortgage rates continue to bide their time , holding just under 4 percent on average. Some borrowers might see their quote move up .125% from yesterday, but others will be quoted the same rate with slightly higher closing costs. A few lenders didn’t move at all, but they’re the exception. [...]

20
Oct

MBA’s Stevens: No Sense Pining for the way it used to be

Posted To: MND NewsWire David Stevens, President of the Mortgage Bankers Association (MBA), told an audience attending the association’s s annual convention in Las Vegas that the rules for Qualified Residential Mortgages will be, as rumored, released on Wednesday. This rule, which was sent back to the drawing board two years ago after housing stakeholders [...]

20
Oct

MBS RECAP: Bond Markets Refreshingly Resilient Against Stock Market Gains

Posted To: MBS Commentary Treasuries and MBS didn't end up making much progress today. Fannie 3.5s are only 2 ticks higher than they were at the close on Friday and 10yr yields aren't even 1bp lower. But bond markets were still arguably successful . Reason being: stocks advanced by nearly 20 points in the S&P. [...]

20
Oct

‘I bought a house for $1,000′

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17
Oct

MBS RECAP: MBS Outperform Treasuries; Lenders Remain Cautious; Still in the Game

Posted To: MBS Commentary Most days with modest gains in MBS would see similarly modest improvements in rate sheets. While there were a handful of positive reprices in the afternoon, they were working against very conservative morning pricing, leaving rates slightly higher day-over-day. In that light, the mild weakness in rate sheets it reflected fairly [...]