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MBS RECAP: Another Chance to Not Get Your Hopes Up
Blog 3 days ago
MBS RECAP: Another Chance to Not Get Your Hopes Up

Tiny pockets of gains have come and gone in the vast sea of red that's dominated 2018 so far.  Each pocket has attempted to lure optimists into a ...

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Mortgage Rates Catch a Break Before Long Weekend
Blog 3 days ago
Mortgage Rates Catch a Break Before Long Weekend

Financial markets in the US will be closed for President's Day on Monday. Thus, mortgage lenders will not be open, nor will they be accepting locks...

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Fannie Mae: So Now Things are Moving Too Fast?
Blog 3 days ago
Fannie Mae: So Now Things are Moving Too Fast?

Some people are never happy.  For most of the ten years following the start of the Great Recession the experts have focused (can we say harped?) on...

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MBS Day Ahead: In a Position to Improve?
Blog 3 days ago
MBS Day Ahead: In a Position to Improve?

While they're extremely important to institutional investors and analysts, the role of trading positions in the bond market is one of the most...

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A Happy New Year for Construction Stats
Blog 3 days ago
A Happy New Year for Construction Stats

Residential construction got off to a strong start in January, with sizable increases in both permits and housing starts and only a slight downturn...

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Subservicing Product; Tax Changes' Impact on Business
Blog 3 days ago
Subservicing Product; Tax Changes' Impact on Business

Mortgage rates are greatly influenced by supply and demand. And if both the U.S. government and individuals need to borrow money, the government...

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MBS RECAP: Deceptively Bad Day For Bonds
Blog 4 days ago
MBS RECAP: Deceptively Bad Day For Bonds

At face value, today was great!  Bonds overlooked all of the morning's economic data (no surprise) and made modest gains that were subsequently...

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Fannie/Freddie Need Your Money Again, But Not Like They Used To
Blog 4 days ago
Fannie/Freddie Need Your Money Again, But Not Like They Used To

While the prospect of Fannie Mae and Freddie Mac needing taxpayer money conjures up images of a failing mortgage market requiring a government...

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Homebuilders More Optimistic Over the Next Six Months
Blog 4 days ago
Homebuilders More Optimistic Over the Next Six Months

New home builders are looking ahead, and the National Association of Home Builders (NAHB) says this optimism was reflected in its Housing Market...

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MBS Day Ahead: How Bad Could it Get (And Why It Won't Get That Bad)
Blog 4 days ago
MBS Day Ahead: How Bad Could it Get (And Why It Won't Get That Bad)

I've mentioned the comparisons between 2013 and the current selling trend several times recently.  Most of those have been in response to...

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ARM and Jumbo Changes; Upcoming Events and Training
Blog 4 days ago
ARM and Jumbo Changes; Upcoming Events and Training

If you claim that many areas of the nation have few houses for sale, no one will disagree. (“Rob, when are those big funds that own tens of...

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MBS RECAP: Bonds Have Had Better Days. Thanks a Lot, CPI...
Blog 5 days ago
MBS RECAP: Bonds Have Had Better Days. Thanks a Lot, CPI...

Old people who've been endlessly frustrated by the fact that no one seemed to be concerned about inflation for the past 6 or 7 years are finally...

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Things Just Keep Getting Worse For Mortgage Rates
Blog 5 days ago
Things Just Keep Getting Worse For Mortgage Rates

Mortgage rates surged higher today, moving easily to new 4-year highs.  Today's average conventional 30yr fixed rate is roughly one eighth of a...

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Are Americans and Their Government Undervaluing the American Dream?
Blog 5 days ago
Are Americans and Their Government Undervaluing the American Dream?

Is homeownership still the American Dream?  Should it be? An article published in the Journal of Economic Perspectives argues while the former has...

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Mortgage Bankers Association Predicts Sharp Increase in New Home Sales
Blog 5 days ago
Mortgage Bankers Association Predicts Sharp Increase in New Home Sales

The Mortgage Bankers Association (MBA) is forecasting a sizable jump in new home sales in January. Based on responses to its Builder Application...

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New Association in Business; Radian Changes; Flagstar's Ginnie Response
Blog 5 days ago
New Association in Business; Radian Changes; Flagstar's Ginnie Response

Two men are sitting in a bar when Mark Zuckerberg walks in. One of the men says to his friend, “This is awesome! On average, everyone in this bar...

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Purchase Mortgage Applications Lose Steam as Rates Rise
Blog 5 days ago
Purchase Mortgage Applications Lose Steam as Rates Rise

Purchase mortgage applications, after starting out strong at the beginning of the year, stalled for the third straight time last week, bringing...

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MBS Day Ahead: Time For CPI (And The Potentially Big Reaction)
Blog 5 days ago
MBS Day Ahead: Time For CPI (And The Potentially Big Reaction)

CPI has been a big deal since last May.  That's when more than a year of higher, more stable Core CPI first began slipping under 2.0%.  Bond...

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MBS RECAP: Bonds Win Without Help From Stocks, But There's a Catch
Blog 6 days ago
MBS RECAP: Bonds Win Without Help From Stocks, But There's a Catch

Today was 'nice' in the highly charged sense of the word where it's meant to convey a certain acceptability and a certain absence of excellence. ...

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Mortgage Rates Ready to Move After Tomorrow's Inflation Data
Blog 6 days ago
Mortgage Rates Ready to Move After Tomorrow's Inflation Data

Mortgage rates began the day fairly well in line with the past 2 days.  While it's nice to see some stability in this environment, it's not so nice...

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Home Price Increases Since 2011 More Than Triple Income Gains
Blog 6 days ago
Home Price Increases Since 2011 More Than Triple Income Gains

While home price increases softened slightly in the fourth quarter of last year, the National Association of Realtors (NAR) said, an uptick in...

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MBS Day Ahead: Short-Term Rates Are Responsible For Recent Pain; Is It Over Yet?
Blog 6 days ago
MBS Day Ahead: Short-Term Rates Are Responsible For Recent Pain; Is It Over Yet?

A certain reality of the recent rate spike needs to be revisited based on conversations I've had with a few clients.  Thankfully, it's pretty...

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Mr. Cooper Has a New Foster Parent; Why LO's Should Care About the Budget
Blog 6 days ago
Mr. Cooper Has a New Foster Parent; Why LO's Should Care About the Budget

Every lender has seen rates move higher, and nearly every lender has seen the inventory of homes for sale decline. With rates moving higher, which...

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MBS RECAP: Relatively Calm Day With 2 Caveats
Blog 1 week ago
MBS RECAP: Relatively Calm Day With 2 Caveats

Caveat 1: bond yields hit the highest intraday levels in more than 4 years before the open. Caveat 2: bond yields hit the highest intraday levels...

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Stealth Tax on Homeowners in Trump Budget
Blog 1 week ago
Stealth Tax on Homeowners in Trump Budget

In 2011, when Congress and the Obama Administration wanted to give taxpayers a temporary 2.0 percentage point reduction in payroll (FICA and...

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Mortgage Rates Steady at 4-Year Highs Despite Warning Shots
Blog 1 week ago
Mortgage Rates Steady at 4-Year Highs Despite Warning Shots

Mortgage rates were generally in line with Friday's latest levels today.  Unfortunately, those happened to be the highest in more than 4 years. ...

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MBS Day Ahead: For Bonds, It's Still 'Duck and Cover'
Blog 1 week ago
MBS Day Ahead: For Bonds, It's Still 'Duck and Cover'

2018 has seen the most unpleasant start to a new year since 2009 as far as bond markets are concerned.  The big sell-off in 2009 is easier to...

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Dismantling Dodd-Frank, High Cost Loan Test Changes
Blog 1 week ago
Dismantling Dodd-Frank, High Cost Loan Test Changes

Last year Congress failed to pass a sweeping bill repealing much of the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act.   It...

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Mortgage Rates End Week in Line With 4-Year Highs
Blog 1 week ago
Mortgage Rates End Week in Line With 4-Year Highs

Mortgage rates experienced some ups and downs this week (mostly ups), but ultimately weren't able to capitalize on a few attempts to move lower. ...

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MBS RECAP: Mixed Bag; Mid-Day Gains; Late Day Selling
Blog 1 week ago
MBS RECAP: Mixed Bag; Mid-Day Gains; Late Day Selling

I'm Matt, but I'll be frank with you for a moment.  I don't like the way this chart looks. If your mind's eye is anything like mine, A) you need...

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