Homeowner Equity Reaches All-Time High in Q2

Posted To: MND NewsWire Total home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic’s quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate increase at $428 billion year-over-year, a 4.8 percent gain. The company says that 63 percent of residential properties […]

MBS Day Ahead: Bonds Just Hoping for an Orderly Escape; Bigger Decisions on Hold

Posted To: MBS Commentary In the day just passed, bonds trading was exceptionally calm in the wake of Wednesday's Fed day. As I mentioned in the recap , it was one of the least volatile moves relative to expectations of any Fed day reaction I can remember. The consolidative vibes suggest either indecision or apathy, […]

Rates Move Lower for Eighth Consecutive Month, Driving Refis

Posted To: MND NewsWire Thirty-year mortgage loans closed in August carried an average interest rate of 4.07 percent according to Ellie Mae’s Origination Insight Report. Rates were down for the eighth consecutive month , easing back from an average of 4.18 percent in July. Ellie Mae said the month-over-month decline in rates continues to drive […]

2018’s Home Sales Slump Now Fully Erased

Posted To: MND NewsWire While the increase wasn’t as strong as in July, last month’s existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales of previously owned single-family houses, townhouses, condominiums, and cooperative apartments were up 1.3 percent compared to […]

MBS Day Ahead: Bonds Set to Battle Potentially Important Level

Posted To: MBS Commentary In the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fine-tuning adjustment or the beginning of a sustained shift. Of […]

Originator, Servicing, Correspondent Products; Why Extensions Cost Money

Posted To: Pipeline Press The residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall approved broker client base and focusing on deposit relationships). And lenders still report […]

Fannie Mae Turns Bullish on Construction, Best Levels Since May

Posted To: MND NewsWire Fannie Mae says consumer spending will continue to support the economy. The company’s Economic Summary for September cites increases in auto and retail sales, real disposable personal income, and real personal consumption expenditures (PCE) as evidence of that strength. In the monthly report, written before release of the very strong census […]

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