MBS RECAP: Friendly Fed Wins Out Over Econ Data Bounce

Posted To: MBS Commentary It was a tale of two market movers today as afternoon Fed comments completely reversed an earlier reaction to super strong economic data. The Philly Fed survey blew expectations out of the water and handily crushed last month's numbers across the board. Given that the market holds this report in higher-than-average […]

Mortgage Rates Lowest This Week Despite Stronger Economic Data

Posted To: Mortgage Rate Watch Economic data and mortgage rate movement go hand in hand. A stronger economy puts upward pressure on rates. A contracting economy helps rates move lower. While this is far from the only source of inspiration, it’s indirectly linked to other major sources of inspiration (like Fed policy). Paradoxically, rates managed […]

MBS Day Ahead: Bonds Consider New Resistance as Week Winds Down

Posted To: MBS Commentary In the day just passed, bonds enjoyed one of their best rally days in recent weeks as the stock market endured its 2nd weakest day since May. Stocks weren't the exclusive motivation, but there's no way to pin down cause and effect without descending into conjecture. Leading suspects include a technical […]

Construction, Broker Products; Lender Flood News; State Farm/Rocket Mortgage

Posted To: Pipeline Press There’s a lot going on out there! Rocket Mortgage is creating new technology that will allow the State Farm agents to offer a Rocket Mortgage loan as a licensed loan originator. Some accounting staff believe their prayers have been answered regarding CECL. The Financial Accounting Standards Board voted Wednesday to propose […]

NAR Reports Sharp Drop in International Home Purchases

Posted To: MND NewsWire There was a huge decline in foreign investment in U.S. real estate during the 12 months ending with the first quarter of 2019. The National Association of Realtors® (NAR) said the reduction was evident in both the purchases of resident (i.e. recent immigrants) and non-resident foreign buyers and explained the drop […]

Mortgage Rates Drop as Bond Gains Accelerate

Posted To: Mortgage Rate Watch Mortgage rates improved today, depending on the lender and the time of day! Underlying bond markets were only modestly stronger in the morning. As such, the average lender only offered modest improvements over yesterday’s rates at first. But as the day progressed, market volatility favored bonds. Once bonds improved enough, […]

June Construction Numbers Tried to Hang on, But Failed to Impress

Posted To: MND NewsWire The residential construction numbers in June were expected to come in largely in the same neighborhood as in May. Analysts however got it only half right. While starts fell fractionally, permits took a dive, falling by 6.1 percent compared to the previous month. The U.S. Census Bureau and Department of Housing […]

Comp, Broker, Compliance Exam Products; F&F Changes; The Fed and Rates

Posted To: Pipeline Press I encounter plenty of people in the mortgage biz, from part-time receptionists to owners, who are focused on helping consumers. It’s a good thing! And they ask me about consumer education. (“Have you ever heard of a class for anyone on home buying or the home loan process?”) One solution, and […]

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