Renee Borenstein & Marcia Gale
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Real Estate News
MBS RECAP: Bonds Battle Back After Fed Foregoes Surprises
Wed, 26 Jul 2017 22:44:01 GMT

Posted To: MBS CommentaryToday's focus was understandably on the Fed Announcement, and indeed, most of the movement followed it. But interestingly enough, the biggest volume spikes occurred at other times, and that helps explain the day's par..[read more]

Mortgage Rates Steady to Slightly Lower After Fed
Wed, 26 Jul 2017 21:06:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were steady to slightly lower today, despite fairly substantial movement in underlying bond markets. Bond prices ultimately do more to inform mortgage rates than anything else. Prices moved higher today by..[read more]

Differences Between Current and Previous FOMC Statements
Wed, 26 Jul 2017 18:02:00 GMT

Posted To: MBS Commentary(Additions underlined, deletions struck through) Information received since the Federal Open Market Committee met in May June indicates that the labor market has continued to strengthen and that economic activity has been ris..[read more]

New Homes Sales Fall Short of Expectations
Wed, 26 Jul 2017 14:09:00 GMT

Posted To: MND NewsWireNew home sales pulled out a slight month-over-month gain in June only because estimates of sales in May were revised down. The U.S. Census Bureau and the Department of Housing and Urban Development said today that sales of newl..[read more]

MBS Day Ahead: Why Today Could Matter: A Lesson From an Old Fed Announcement
Wed, 26 Jul 2017 13:43:00 GMT

Posted To: MBS CommentaryRemember 2015? The Fed spent the whole year talking about hiking rates for the first after spending years at 0% and ultimately didn't get around to it until December. But perhaps the most interesting phrase in any of the ..[read more]

Lender M&A, Bank Mortgage News; FHA and Cybersecurity
Wed, 26 Jul 2017 13:17:39 GMT

Posted To: Pipeline PressWe’re in the midst of state fair season, and with it all the wonderful organic health food. Have you tried deep fried butter? Have a hankering for fried beer? Always wanted to try Wisconsin’s “Fat Elvis on a..[read more]

Refi Applications Strengthened on Last Week's Lower Rates
Wed, 26 Jul 2017 12:31:13 GMT

Posted To: MND NewsWireA decline in purchase mortgage applications cancelled out most of a moderate increase in refinancing during the week ended July 21. Nonetheless, the Mortgage Bankers Association said its Market Composite Index eked out a slight..[read more]

MBS RECAP: For Bonds, Worst Day Since Late June ECB Scare
Tue, 25 Jul 2017 20:24:15 GMT

Posted To: MBS CommentaryBonds sold off aggressively today, for a combination of reasons that are tremendously unsatisfying in a traditional market-watching sense. For example, it would be nice if we could point to something tidy and logical like all..[read more]

Mortgage Rates Spike, Erasing Last Week's Gains
Tue, 25 Jul 2017 19:18:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved abruptly higher today, erasing the improvement seen last week. An entire week's worth of movement may or may not be worth stressing out about depending on your perspective. On one hand, we're only ta..[read more]

Unsealed Court Docs Paint Fannie/Freddie as Congressional Cash Cow
Tue, 25 Jul 2017 18:08:58 GMT

Posted To: MND NewsWireUnless one follows the Fannie Mae/Freddie Mac conservatorship drama on a regular basis, it is easy to get lost in the legal weeds. MND has dipped in and out periodically, and it is time for another update. To briefly reprise. W..[read more]

6th Straight Record High For Home Prices -Case-Shiller
Tue, 25 Jul 2017 14:42:48 GMT

Posted To: MND NewsWireThe S&P CoreLogic Case-Shiller National Home Price Index hit another new record in May, the sixth consecutive month it did so while the Federal Housing Finance Agency reported another increase in its annual Housing Price Index ..[read more]

Credit Underwriting Changes; Exec Comments on Margins and Volume; Ally's Offer
Tue, 25 Jul 2017 13:33:07 GMT

Posted To: Pipeline PressLenders cutting margins in a diminishing mortgage marketplace. You bet. Does one lender want 100% market share? Perhaps. Here’s the latest example: Ally Home announced their Price Match Guarantee to give consumers peace..[read more]

MBS Day Ahead: Recent Rally Under Threat Ahead of Fed
Tue, 25 Jul 2017 13:21:19 GMT

Posted To: MBS CommentaryAfter enjoying a nice rally since July 10th, bond markets are taking the 2 days leading up to tomorrow's Fed announcement to book some profits and get back to neutral territory. Unfortunately, getting back to neutral mean..[read more]

MBS RECAP: Slowest Day of The Year for Bonds
Mon, 24 Jul 2017 21:18:08 GMT

Posted To: MBS CommentaryHow's that for an exciting headline? At least it's an " extreme ," technically--just not the sort of extreme that would pique our interest (but still better than the extremes that would peak our interest rates)! Serio..[read more]

Rates Begin Week Unchanged at July's Lows
Mon, 24 Jul 2017 20:23:00 GMT

Posted To: Mortgage Rate WatchMortgage rates held steady today, which leaves them in line with the lowest levels in July. In underlying bond markets (bond movement directly impacts lenders' rate offerings), it was an exceptionally quiet day--especial..[read more]

Fannie/Freddie Joint Venture Flying Too Far Under Radar -UI
Mon, 24 Jul 2017 15:35:59 GMT

Posted To: MND NewsWireMost of the major proposals for reforming the housing finance system rely on two steps to minimize the risk that any one or two institutions, and in today's environment that would mean the GSEs Fannie Mae and Freddie Mac, can p..[read more]

Existing Home Sales Weakness Blamed on Same Old Problem
Mon, 24 Jul 2017 15:30:32 GMT

Posted To: MND NewsWireExisting home sales slipped in June, with the blame again placed on low levels of inventory . The decline in sales, announced on Monday by the National Association of Realtors® (NAR), was anticipated, as pending home sales ..[read more]

MBS Week Ahead: Fed Announcements are Major Events, but Probably Not This Week's
Mon, 24 Jul 2017 14:03:36 GMT

Posted To: MBS CommentaryIn March 2011, the Fed announced it would change things up with respect to its policy announcements. Although there would still be 8 of them each year, 4 of those would now include "economic projections" from FOMC members (fo..[read more]

Lender Fee and Pricing Changes; CFPB Suit Dismissed, HMDA webinar
Mon, 24 Jul 2017 13:10:27 GMT

Posted To: Pipeline PressWhat should lenders and loan officers be concerned about? What’s threatening their livelihood, besides all cash buyers, venture capital firms buying houses for rentals, and Baby Boomers staying put with their 3.5% 30-ye..[read more]

MBS RECAP: Bonds Extend Gains in Super Quiet Conditions
Fri, 21 Jul 2017 22:09:27 GMT

Posted To: MBS CommentaryAs expected, today could be better characterized as a highly-regulated narcotic sleep aid than an interesting trading day for bond markets. The dreams were sweet, at least, with 10yr yields drifting down to their best levels ..[read more]

Mortgage Rates Lowest in July
Fri, 21 Jul 2017 21:14:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved lower today, setting yet another new low for the month of July. For the past 2 weeks, rates have been pushing back against a fairly abrupt spike that took place heading into the month. Concerns over ..[read more]

With Expiration Looming, NAR, NAHB Applaud Flood Insurance Renewal Progress
Fri, 21 Jul 2017 15:29:47 GMT

Posted To: MND NewsWireIt remains to be seen if it passes into law, or how it will hold up during the process, but housing industry groups say an agreement has been hammered out for renewing the federal flood insurance program . Both the National Ass..[read more]

State-Level Changes Across the Board; Housing and Rates
Fri, 21 Jul 2017 13:34:54 GMT

Posted To: Pipeline PressUnder the heading, “What’ll they think of next?”, especially for aging Boomers, comes stairs that store energy and help the next person walk up them! State-Level Changes When lenders complain about federal r..[read more]

MBS Day Ahead: Low Volume and Light Liquidity Expected. Here's What That Means
Fri, 21 Jul 2017 13:29:15 GMT

Posted To: MBS CommentaryOne of the hallmarks of classic (read: old school) technical analysis is the role of volume in confirming market movements. For instance, if 10yr yields break through a key technical level, the next question many traders will..[read more]

MBS RECAP: Markets Had ECB Almost Perfectly Pegged
Thu, 20 Jul 2017 23:06:58 GMT

Posted To: MBS CommentaryTalk about your anticlimactic conclusions! It's not that the European Central Bank (ECB) was likely to make any meaningful changes in its policy stance today, but it nonetheless served as an important opportunity to confi..[read more]

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