Reneé Borenstein & Marcia Gale
Marcia : 213.760.3177
Reneé : 818.535.6352
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Real Estate News
Rates at All-Time Lows Ahead of Important Jobs Data
Wed, 01 Jul 2020 20:48:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were generally unchanged today, thus leaving the average lender at all-time lows for conventional 30yr fixed scenarios. It continues to be the case that loan scenarios with additional risk factors have NOT..[read more]

MBS RECAP: Limited Reaction to Headlines and Fed Minutes
Wed, 01 Jul 2020 20:36:04 GMT

Posted To: MBS CommentaryLimited Reaction to Headlines and Fed Minutes After a quiet trading day yesterday, today proved to be even quieter. That said, bonds were still willing to react to covid headlines and the Fed meeting minutes, albeit just bare..[read more]

Fed Meeting Minute Bullet Points: What's Yield Curve Control?
Wed, 01 Jul 2020 19:32:38 GMT

Posted To: MBS CommentaryThe minutes from the most recent Fed meeting were released today. While there's not much left to be said when they've already been so clear about keeping rates low for a long time, we did get a few new thoughts about ..[read more]

MBS Day Ahead: Economic Data Ramps Up Ahead of Week's Early Close
Wed, 01 Jul 2020 12:37:06 GMT

Posted To: MBS CommentaryAfter a very slow start on Monday, yesterday's month-end trading session proved to be more consequential for Treasuries with yields ultimately rising enough to make it back to the doorstep of the uptrend they'd broken..[read more]

Purchase Apps Retreat Again as Inventory Dries Up
Wed, 01 Jul 2020 12:16:15 GMT

Posted To: MND NewsWireApplications for both refinancing and purchase mortgages retreated last week , pulling the Mortgage Bankers Associations (MBA's) Market Composite Index lower for the second time in as many weeks. MBA said the index, a measure o..[read more]

MBS RECAP: Surprisingly Quiet Quarter-End Trading. No Objections Here
Tue, 30 Jun 2020 20:46:26 GMT

Posted To: MBS CommentarySurprisingly Quiet Quarter-End Trading. No Objections Here The last trading day of any given month (especially if it's also the end of a quarter) can often see elevated volatility without any obvious motivation (here'..[read more]

Best Month Ever For Mortgage Rates
Tue, 30 Jun 2020 19:36:00 GMT

Posted To: Mortgage Rate WatchMortgage rates managed another slight improvement today, which means the average lender is offering new all-time low rates for the 4th time this month. Even if rates had lurched unexpectedly higher today, June still woul..[read more]

Home Prices "Remarkably Stable" in April
Tue, 30 Jun 2020 14:12:03 GMT

Posted To: MND NewsWireHome prices continued to hold up on a national basis in April. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, reported a 4.7 percent annual gain in April, up from 4.6 per..[read more]

Servicing, Inspection, Loss-mit Products; CFPB's Structure to Change; Ginnie Adjusts Pooling Requirements
Tue, 30 Jun 2020 12:50:33 GMT

Posted To: Pipeline PressSome days you don’t learn much, other days you learn a lot (skip the ad). We’ve learned that COVID is driving our economy, not fundamental economic news, and at this point virologists have better forecasts than ec..[read more]

Mortgage Rates Continue at All-Time Lows, But Caveats Remain
Mon, 29 Jun 2020 19:52:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were unchanged to slightly lower today, bringing the average lender right in line with all-time lows . Averages aside, several lenders are slightly higher than they were on Friday. Either way, the movement..[read more]

MBS RECAP: Lock vs Float Considerations With Rates at All-Time Lows
Mon, 29 Jun 2020 18:59:31 GMT

Posted To: MBS CommentaryLock vs Float Considerations With Rates at All-Time Lows Stocks and bond yields are still in holding patterns relative to early June volatility. Meanwhile, mortgage rates are at all-time lows. There are scenarios where rates ..[read more]

Supreme Court Rules Single CFPB Director Unconstitutional
Mon, 29 Jun 2020 17:38:07 GMT

Posted To: MND NewsWireThe Supreme Court, in a 5-4 decision along partisan lines, took a chunk out of the intentions the Dodd-Frank Act had for the Consumer Financial Protection Bureau (CFPB) when it created it. The court ruled that the single-direct..[read more]

Record Surge in Pending Home Sales
Mon, 29 Jun 2020 14:28:41 GMT

Posted To: MND NewsWireLawrence Yun, chief economist for the National Association of Realtors® (NAR), predicted last month that April's home sales contract activity "will be the lowest point for pending sales." That turns out to have been a huge ..[read more]

MSR, Marketing, Leads Products; Training and Webinars From Home
Mon, 29 Jun 2020 13:15:07 GMT

Posted To: Pipeline PressDoes this mean we can no longer say, “Hindsight is always 2020”?! It’s too bad that the Tiger King is the most normal thing about 2020. For the people who still think it is a hoax, and pushing for your right..[read more]

MBS Week Ahead: Holiday-Shortened Week; Jobs Report on Thursday
Mon, 29 Jun 2020 12:51:11 GMT

Posted To: MBS CommentaryThis will be a deceptively informative week for financial markets. The biggest consideration continues to be the exponential growth of covid cases in several states and the concern about exponential growth in other states. Wh..[read more]

Mortgage Rates Are Headed Higher (Eventually)
Fri, 26 Jun 2020 20:44:00 GMT

Posted To: Mortgage Rate WatchThe fates of the economy, the housing market, and interest rates remain closely intertwined with coronavirus. The pandemic is clearly responsible for the record-setting drop in economic activity (including the housing ma..[read more]

MBS RECAP: The Trend is Officially Broken. Welcome Back To The Range
Fri, 26 Jun 2020 20:41:10 GMT

Posted To: MBS CommentaryThe Trend is Officially Broken. Welcome Back To The Range Bond yields moved lower today, thus breaking out of the prevailing trend. In so doing, they find themselves squarely back inside a longer-standing sideways range, whic..[read more]

DPA, Forbearance, Broker Products; FHA, USDA Tweaks; Treasury/MBS Spread Update
Fri, 26 Jun 2020 14:00:15 GMT

Posted To: Pipeline PressThere are plenty of tricks in any trade. Just-opened cellulose sponges are already damp because many are premoistened with sterile water. (Without H20, the material shrivels and hardens and looks unattractive in the store.) W..[read more]

Surge in Forbearances This Week
Fri, 26 Jun 2020 13:45:43 GMT

Posted To: MND NewsWireAfter three weeks of declining totals, Black Knight says the number of active COVID-19 forbearance plans shot up over the past week. As of June 23, there were 4.68 million homeowners in forbearance, an increase of 79,000 from t..[read more]

MBS Day Ahead: Another Chance to Break The Range
Fri, 26 Jun 2020 12:31:15 GMT

Posted To: MBS CommentaryAlthough markets are still sideways relative to the bigger volatility of the previous 3 weeks, bond yields have trickled lower this week. This brought 10yr yields just outside their prevailing range yesterday morning, but the..[read more]

Mortgage Rates Reflecting Market Concerns
Thu, 25 Jun 2020 20:13:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved modestly lower today, bringing the average lender very close to all-time lows . The caveat continues to be that day-to-day rate changes have been small ever since hitting the confirmed all-time lows ..[read more]

MBS RECAP: Lots of Indecision, But The Outcome Should Make Sense
Thu, 25 Jun 2020 18:50:00 GMT

Posted To: MBS CommentaryLots of Indecision, But The Outcome Should Make Sense Both stocks and bonds are trading sideways after taking a step back from their early June momentum. This indecision reflects uncertainty about economic reopening vs rising..[read more]

Forbearance is Major Cause of Lender Overlays
Thu, 25 Jun 2020 18:03:30 GMT

Posted To: MND NewsWireIn his analysis of current mortgage credit tightening for the Joint Center on Housing Studies excerpted here earlier, Don Layton included a special section on lender overlays . The former Freddie Mac CEO focused specifically on..[read more]

MBS Day Ahead: The Case Against Mortgage Rates And a Note on Today's GDP
Thu, 25 Jun 2020 13:08:16 GMT

Posted To: MBS CommentaryLet's get the housekeeping out of the way first. With so much talk in the news about the coronavirus effect on GDP, I figured I'd point out that today's -5.0% result is for Q1. Financial markets are much more inte..[read more]

Management, LO Jobs; Marketing, Processing, Default Products; High Balance Pricing
Thu, 25 Jun 2020 13:02:06 GMT

Posted To: Pipeline PressSome things are uncertain, like whether colleges, driven by ticket & TV income, bring back their football players when the rest of the student body “remains virtual” this autumn. (Harvard law school is online for ..[read more]

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