Real Estate News

MBS RECAP: Reasonably Epic Consolidation Break-Out; MBS at 11-Month Highs
Wed, 28 May 2014 20:53:16 GMT 

Posted To: MBS CommentaryAfter starting the day just slightly stronger, and with absolutely nothing by way of major market-moving considerations, Fannie 3.5s moved up over half a point today (at times, more than .625) to 103-08. They were about a poi..[read more]

Mortgage Rates Drop Abruptly; Now Approaching 4%
Wed, 28 May 2014 19:28:00 GMT 

Posted To: Mortgage Rate WatchAfter tying the record for most consecutive days with no change, mortgage rates moved significantly lower today . The significance isn’t due to the size of the move–as far as day to day changes go, there have been bigge..[read more

Only 2 in 5 Housing Markets are Improving -Freddie Mac
Wed, 28 May 2014 16:02:04 GMT 

Posted To: MND NewsWireFreddie Mac’s new Multi-Indicator Market Index (MiMi) continues to show a weak housing market overall. The national MiMi value is flat compared to last month and has improved only slightly year-over- year. MiMi monitors and mea..[read more]

MBS MID-DAY: Bonds End 2 Weeks of Consolidation… With a Massive Rally 
Wed, 28 May 2014 15:57:00 GMT 

Posted To: MBS CommentaryThings had been pretty tame for MBS and Treasuries after the last round of excitement ended on May 15th. That was when the last major rally ended and when bond markets began consolidating in a mostly sideways pattern. As earl..[read more]

RBS Shrinking Mortgage Biz; Bank M&A; MBA’s New Compliance Class; Reverse Mortgage Update
Wed, 28 May 2014 14:40:43 GMT 

Posted To: Pipeline PressThe “over 65” crowd is large, but the current number pales in comparison to expectations in the coming years. The US Census Bureau writes, “In 2050, the population aged 65 and over is projected to be 83.7 million , almost dou..[read more]

Lower Rates Fail to Sustain Mortgage App Winning Streak
Wed, 28 May 2014 12:48:23 GMT 

Posted To: MND NewsWireDespite interest rates falling to levels last seen almost a year ago, mortgage application volume retreated slightly after three weeks of iimprovement. The Mortgage Bankers Association (MBA) said that its Market Composite Index..[read more]

MBS Day Ahead: Still a Potentially Big Day for Bond Markets Despite Empty Calendar 
Wed, 28 May 2014 11:39:03 GMT 

Posted To: MBS CommentaryEven though yesterday had more going on in terms of scheduled events, today will likely see better participation among traders. The current order of business is deciding whether or not rates stay in stealth mode ahead of next..[read more]

MBS RECAP: Choppy Morning Gives Way to Afternoon Reprices
Tue, 27 May 2014 19:44:05 GMT 

Posted To: MBS CommentaryBond markets took their own sweet time getting back to business after the holiday weekend. Trading activity was lighter than normal and apart from the morning’s first round of economic data, market movements were based mo..[read more]

Mortgage Rates Close to Setting Sideways Record
Tue, 27 May 2014 19:03:00 GMT 

Posted To: Mortgage Rate WatchMortgage rates were slightly higher this morning, but mid-day market improvements led many lenders to adjust rates lower into the afternoon. The net effect ends up being “no change” to Friday’s latest rate sheet offering..[read more]

Three Data Sets Concur on Continuing but Slower Price Increases
Tue, 27 May 2014 16:06:10 GMT 

Posted To: MND NewsWireAll three home price surveys released this morning showed prices increased in March, a more moderate improvement than in previous months in some cases, but still broad based. The S&P Case-Shiller Home Price Indices, showed that..[read more]

MBS MID-DAY: Volatility Inside Narrow Range; Little-Changed from Friday 
Tue, 27 May 2014 16:00:33 GMT 

Posted To: MBS CommentaryMuch like the magic that happens when you give an old wooden paddle-ball/string toy to a kid raised in the electronic generation, markets found a surprisingly high entertainment value in a very mundane trading range this morn..[read more]

MBA Releases Lender Profit Numbers for 2013 – Ouch; New HUD Head 
Tue, 27 May 2014 14:11:34 GMT 

Posted To: Pipeline PressThe mortgage industry continues to do what it can to not only dig its way out of the poor public relations created from lending from 5-10 years ago, but give back to the community. Here’s a short video from Fairway Independen..[read more]

MBS Week Ahead: Getting Closer to Decision Time for Bond Markets 
Tue, 27 May 2014 11:45:08 GMT 

Posted To: MBS CommentaryA common quip on Wall Street is that financial markets will do what it takes to prove as many people wrong as possible. Variations of the same concept include the “pain trade” as well as the seminal quote from Keynes regardin..[read more]

Mortgage Rates Sharply Unchanged 
Fri, 23 May 2014 17:24:00 GMT 

Posted To: Mortgage Rate WatchMortgage rates didn’t budge today–not one little bit. It’s one thing for lenders to be adjusting rate sheets at various points in the day, beginning stronger, ending weaker, and ultimately averaging out to the same rate..[read more]

MBS MID-DAY: Uneventful Half-Day, but Slightly Stronger for Bond Markets 
Fri, 23 May 2014 15:50:07 GMT 

Posted To: MBS CommentaryVery little has happened so far on this holiday-shortened Friday (Monday’s the holiday, but MBS/Treasuries close 3 hours early today). The lack of activity will be doubly true from here until 2pm. As such, this “mid-day” ..[read more]

New Home Sales Rise to Slightly Less Depressed Levels
Fri, 23 May 2014 15:36:02 GMT 

Posted To: MND NewsWireThe U.S. Census Bureau and the Department of Housing and Urban Development said today that the sales of new single family homes in April were at a seasonally adjusted rate of 433,000, an increase of 6.4 percent from March sales..[read more]

State-Level Changes; Lender Updates; Range-Bound Rates
Fri, 23 May 2014 15:19:24 GMT 

Posted To: Pipeline PressI remember when I first entered the working world, after a few months my HR person asked, “I see that you’re not signed up for the company’s 401k. Why not?” I replied, “I’d never be able to run that far.” A full understanding..[read more]

MBS Day Ahead: New Home Sales and an Early Close 
Fri, 23 May 2014 12:00:05 GMT 

Posted To: MBS CommentaryIn yesterday’s recap, I mentioned that Treasuries have been trending higher in a ‘fairly classic consolidation pattern’ and that this was evidence that nothing really mattered so far this week. Put another way, th..[read more]
MBS RECAP: Moderate Weakness Continues; Short Day Tomorrow
Thu, 22 May 2014 19:48:11 GMT 

Posted To: MBS CommentaryMarkets close at 2pm tomorrow in observance of the Memorial Day Holiday, and will be fully closed on Monday. With that in mind, we’ve essentially made it through the entire week without anything at all happening! That sou..[read more]
Mortgage Rates Staying Flat Near 2014 Lows
Thu, 22 May 2014 18:58:00 GMT 

Posted To: Mortgage Rate WatchMortgage rates , once again, are ending the day essentially unchanged compared to the previous day. Morning rate sheets were in stronger territory, in some cases approaching those seen on May 15th (best day of the year s..[read more]

Mortgage Banking Profits Hit Hard in 2nd Half of 2013
Thu, 22 May 2014 16:45:43 GMT 

Posted To: MND NewsWireMortgage banks had what the Mortgage Bankers Association (MBA) termed “respectable” production profits in 2013 , even though they were dramatically lower than in 2012 and declined precipitously from the first half of 2013 to th..[read more]

MBS MID-DAY: Mostly Holding Yesterday’s Gains, Still Outperforming Treasuries 
Thu, 22 May 2014 16:08:33 GMT 

Posted To: MBS CommentaryAs we frequently discuss, 10yr yields are the best technical benchmark for how rates are moving even though mortgage rates themselves are directly informed by MBS. As such, the policy is to look first at the general trend pre..[read more]

Existing Homes Sales Post First 2014 Increase 
Thu, 22 May 2014 15:21:38 GMT 

Posted To: MND NewsWireThere were stirrings of a spring market in April as both existing home sales and the inventory of available homes increased. The National Association of Realtors® (NAR) said that home price growth also slowed, an encouragin..[read more]

Distressed Loan Data Improving; Signs of Life for Refinances 
Thu, 22 May 2014 14:47:59 GMT 

Posted To: MND NewsWireWhile prepayment rates have plummeted since last year they did show some signs of life in April Black Knight Financial Services said today. While their “First Look” at mortgage data for the month show these rates down 54.47 per..[read more]

Fastest Growing Cities in the US; Gag Rule in Loan Servicing; Lender & Vendor Updates
Thu, 22 May 2014 13:55:48 GMT 

Posted To: Pipeline PressMore informal/off-the-record chatter from the MBA’s Secondary Conference . Many companies are moving toward a variable cost model rather than fixed costs – a better way to handle the cyclical nature of this business. And cost..[read more]