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MBS RECAP: Fed Minutes or Same Old Trend. Either Way, Bonds Didn"t Like It
2/21/2018 5:29 PM
Posted To: MBS CommentaryThe Fed released the minutes from its late January meeting today. Markets thought about them for 20 minutes and then tanked. What's up with that?! Looking at rate volatility as a factor of Fed policy can be tricky business. On the one hand, it would be easy to argue that the Fe...
Mortgage Rates Hit New 4-Year Highs
2/21/2018 4:35 PM
Posted To: Mortgage Rate WatchMortgage rates continued higher today following the release of the Minutes from the Federal Reserve"s (aka "The Fed") most recent policy meeting. The Fed was slightly more upbeat than markets expected, saying that most members agreed that a stronger economy increased the likelihood...
Existing Home Sales Decline, Inventory Still a Big Issue
2/21/2018 10:16 AM
Posted To: MND NewsWireSales of existing homes fell again in January, the second consecutive month-over-month decline. Sales of pre-owned single-family homes, townhomes, condos, and cooperative apartments were down 3.2 percent compared to December, and the seasonally adjusted annual sales in December, already estimated a...
MBS Day Ahead: Markets Expecting a Challenging Auction and Hawkish Fed Minutes
2/21/2018 8:39 AM
Posted To: MBS CommentaryToday's key events arrive in the afternoon in the form of a 5yr Treasury auction at 1pm and the release of the FOMC Minutes at 2pm. Not to be confused with the Fed Policy Announcement, the Minutes simply provide a more detailed account of the meeting 3 weeks prior that culminat...
Flagstar"s Expansion; News Regarding Freddie and Fannie
2/21/2018 8:12 AM
Posted To: Pipeline PressWhy couldn’t the sesame seed leave the gambling casino? Because he was on a roll. In an admittedly weak segue, rolls are made in kitchens, and LOs may want to pass this link along to their Realtor clients: here are the top trends this year in kitchens. top tren...
Mortgage Apps Finally Feeling Effects of Higher Rates
2/21/2018 7:24 AM
Posted To: MND NewsWireMortgage application volumes suffered their worst losses of 2018 last week. The Mortgage Bankers Association (MBA) said both purchase mortgages and applications for refinancing were down significantly during the week ended February 16 compared to the prior week. MBA"s Market Composite Index, a meas...
MBS RECAP: Unofficial 4th Day of Weekend Leaves Bonds Slightly Weaker
2/20/2018 5:10 PM
Posted To: MBS CommentaryToday was a total dud in terms of volume and volatility. That's not all that uncommon on the Tuesday following a 3-day weekend, especially if there are no major events or headlines. Overnight bond market movement was dictated by an ongoing trend set into motion late last Friday...
Mortgage Rates Unable to Extend Last Week"s Gains
2/20/2018 3:54 PM
Posted To: Mortgage Rate WatchMortgage rates moved back up today after ending last week on a positive note. Improvements in rates have been uncommon so far in 2018. In fact, we haven"t seen more than 2 consecutive days without a move higher. In that sense, today keeps the prevailing trend intact. If there"s a s...
MBS Week Ahead: Positions Part 2: Making Better Sense of Early 2018
2/20/2018 8:57 AM
Posted To: MBS CommentaryLast Friday's Day Ahead was all about positions. Read it HERE , if you haven't done so or need a refresher. It advocated caution with respect to floating or otherwise being optimistic based on early gains because those early gains were likely a product of short-covering. Ra...
New Products, Expansion; Legal and Political Updates
2/20/2018 8:12 AM
Posted To: Pipeline PressWelcome to Day 1 of the longest period in the United States without a federal holiday: President"s Day to Memorial Day. Some will think, “That’s a drag,” while others will think, “That’s more days to fund loans!” Speaking of fundin...