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MBS RECAP: Just When You Thought The Ceiling Was a Ceiling
Blog 22 hours ago
MBS RECAP: Just When You Thought The Ceiling Was a Ceiling

Undoubtedly, yesterday's bond trading sent a clear message that a technical ceiling near 2.88% was met with strong defense from traders who bought...

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Mortgage Rates Behind the Curve For 2nd Straight Day
Blog 22 hours ago
Mortgage Rates Behind the Curve For 2nd Straight Day

Mortgage rates improved today but it was largely a byproduct of yesterday's market movement that didn't make it onto lenders' rate sheets at the...

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NAHB Sees Lopsided Growth in Housing Starts
Blog 1 day ago
NAHB Sees Lopsided Growth in Housing Starts

In another dive into data from the Census Bureau's Survey of Construction (SOC), the National Association of Home Builders (NAHB) found that one...

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Fannie Sees Growth Slowing, Turns Bearish on Housing
Blog 1 day ago
Fannie Sees Growth Slowing, Turns Bearish on Housing

Fannie Mae's economists have upgraded their second quarter economic forecast but say that may be about it for the year. In their July forecast, the...

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MBS Day Ahead: Back in The Range, But Yield Curve Could Protest
Blog 1 day ago
MBS Day Ahead: Back in The Range, But Yield Curve Could Protest

10yr yields attempted to break above their prevailing range yesterday.  As we discussed in the Day Ahead, it takes more than just an intraday move...

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MBS RECAP: Key Technical Ends Up Providing Support
Blog 2 days ago
MBS RECAP: Key Technical Ends Up Providing Support

If you are an MBS Live member, today's recap has already been written in this update and in The Huddle.  Non-MBS Live members can get a pretty...

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Mortgage Rates Back to Flat After Starting Higher
Blog 2 days ago
Mortgage Rates Back to Flat After Starting Higher

Mortgage rates had a scare today, as they began the day at their highest levels of the month (depending on the lender) only to fall back in line...

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Libor- Not Exactly an Obituary, But...
Blog 2 days ago
Libor- Not Exactly an Obituary, But...

A group of financial experts is scheduled to meet at on Thursday to make funeral arrangements for Libor.  In case you hadn't heard, the London...

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FHFA Ruled Unconstitutional, but Net Sweep Prevails
Blog 2 days ago
FHFA Ruled Unconstitutional, but Net Sweep Prevails

Yet another federal court has rebuffed shareholders hoping to recover some value from their investments in the government sponsored enterprises ...

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MBS Day Ahead: What Happens If Bonds Break This Ceiling? (Philosophical Discussion on Technicals)
Blog 2 days ago
MBS Day Ahead: What Happens If Bonds Break This Ceiling? (Philosophical Discussion on Technicals)

This primer (and this one, and this one) will be useful for digesting the following, if you haven't read it before. For those paying any sort of...

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LO Training and Conferences; Teams With Different Comp Plans?
Blog 2 days ago
LO Training and Conferences; Teams With Different Comp Plans?

“Rob, are you hearing, now that the CFPB is perceived to have lost its teeth, that some lenders are providing their loan officers two different...

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Purchase Share and Interest Rates Creep up, Hit New Ellie Mae Highs
Blog 2 days ago
Purchase Share and Interest Rates Creep up, Hit New Ellie Mae Highs

The share of closed loans for home purchases ticked up another point in June, to 71 percent. While Ellie Mae has only tracked data since 2011, this...

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MBS RECAP: Bonds Back at Range Boundary
Blog 2 days ago
MBS RECAP: Bonds Back at Range Boundary

After holding the same sideways range since June 27th, 10yr Treasury yields finally knocked on the 2.88+ ceiling for the 2nd time (the previous...

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Mortgage Rates Flat Again, Despite Modest Market Weakness
Blog 3 days ago
Mortgage Rates Flat Again, Despite Modest Market Weakness

Mortgage rates were flat again today, further prolonging a trend that's been in place for weeks.  During that time, we've seen modest ups and downs...

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Millennial Homeownership Headwinds Worrisome for Future
Blog 3 days ago
Millennial Homeownership Headwinds Worrisome for Future

It is the largest generation in U.S. history and Millennials may also set a record as the one whose behaviors have been most heavily researched. ...

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Housing Permits Soften, Starts Plummet
Blog 3 days ago
Housing Permits Soften, Starts Plummet

All three measures of residential construction activity performed poorly in June, and the two most closely watched numbers, construction permits...

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MBS Day Ahead: Bonds Increasingly Threatened by Momentum Shift; Powell Part 2
Blog 3 days ago
MBS Day Ahead: Bonds Increasingly Threatened by Momentum Shift; Powell Part 2

Fed Chair Powell will deliver round 2 of his congressional testimony today, this time at the House FSOC (yesterday was with the Senate Banking...

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Pricing, Efficiency, and Operations Products; California DRE Changes
Blog 3 days ago
Pricing, Efficiency, and Operations Products; California DRE Changes

“Your loan officer should be given the opportunity to succeed elsewhere.” Ever heard a CEO recommend that to a branch manager regarding a poorly...

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Mortgage Applications: Decline in Purchases Offset by Refinance Gains.
Blog 3 days ago
Mortgage Applications: Decline in Purchases Offset by Refinance Gains.

Refinancing made a tiny bit of a comeback during the week ended July 13. Both the Refinancing Index, a component of the Mortgage Bankers...

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MBS RECAP: Limited Reaction to Powell Testimony; Stocks
Blog 3 days ago
MBS RECAP: Limited Reaction to Powell Testimony; Stocks

Fed Chair Powell fielded questions from the Senate Banking Committee today as a part of the 2-day semi-annual congressional testimony often...

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Same Old Story For Mortgage Rates
Blog 4 days ago
Same Old Story For Mortgage Rates

Mortgage rates were generally unchanged today, prolonging an exceptionally flat trend.  Over the past 3 weeks, the average mortgage seeker will not...

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Builder Confidence: Strong but Unchanged, Material Costs Rising
Blog 4 days ago
Builder Confidence: Strong but Unchanged, Material Costs Rising

As analysts had expected, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) remained at 68 this month.  The...

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Builders Heeding Advice to Go West. Or South
Blog 4 days ago
Builders Heeding Advice to Go West. Or South

The National Association of Home Builders (NAHB) has plucked more information from the Census Bureau's Survey of Construction (SOC), this time to...

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MBS Day Ahead: 2018 Rate Hike Odds Provide Backdrop For Powell Testimony
Blog 4 days ago
MBS Day Ahead: 2018 Rate Hike Odds Provide Backdrop For Powell Testimony

Fed Chair Powell begins 2 days of semi annual congressional testimony today with the Senate Banking Committee at 10am.  In recent years, this...

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Sales and Broker Products; Freddie and Fannie Updates
Blog 4 days ago
Sales and Broker Products; Freddie and Fannie Updates

“What can be asserted without evidence can also be dismissed without evidence.” While you ruminate on that one, there continues to be evidence and...

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MBS RECAP: Slightly More Active Than a Typical Summertime Monday
Blog 4 days ago
MBS RECAP: Slightly More Active Than a Typical Summertime Monday

Summertime Mondays are notorious for light volume and seemingly random trading.  Today was a slightly more active than normal in that regard,...

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Mortgage Rates Edge Higher
Blog 5 days ago
Mortgage Rates Edge Higher

Mortgage rates fell to their lowest levels since late May as of last Friday.  Today, then, would be the 2nd best day since late May.  Rates edged...

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MBS Week Ahead: Another Week, Another Chance to Run Same Old Play
Blog 5 days ago
MBS Week Ahead: Another Week, Another Chance to Run Same Old Play

This is the off-season for bonds, but they still have to show up for the game every day.  The coaching staff (aka the traders turning the cogs of...

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Broker Products; Blockchain Transaction; Input on DACA Loans
Blog 5 days ago
Broker Products; Blockchain Transaction; Input on DACA Loans

When Costco rolled out its mortgage option to members, many lenders were very concerned. But despite great potential, Costco/First Choice has not...

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Permit to Completion- Builder Timeline Depends on Where and Why
Blog 5 days ago
Permit to Completion- Builder Timeline Depends on Where and Why

Despite complaints about labor, lot, and material shortages, builders needed no more time to build a home last year than they did in 2016.  The...

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