Posted To: Mortgage Rate Watch Mortgage rates moved down again today, bringing the average lender to their best levels since the 2nd week of March. Some lenders are quoting their lowest rates ever, but early March 2020 averages are still decidedly lower. You may have seen other articles today claiming[…]
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Posted To: MND NewsWire Freddie Mac eked out a positive comprehensive income of $0.62 billion in the first quarter, $1.83 billion less than it posted in the fourth quarter of 2019 and $1.04 billion below earnings a year earlier. The company’s CEO David M. Brickman said, “Freddie Mac’s first quarter[…]
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Posted To: Pipeline Press As analysts pour through Freddie Mac’s earnings announcement this morning, when in captivity it is important to settle in quickly and efficiently . It is also important not to fall for any phone scams! Here’s your tip du jour: “When in Doubt: Hang Up, Look Up,[…]
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Posted To: MBS Commentary January, February, and especially March were wild months for bond market volatility. Coronavirus was increasingly responsible for that volatility during that time. It's interesting, then, and perhaps a testament to the market's ability to price in future events that April has been by far the narrowest[…]
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Posted To: Pipeline Press While in captivity it is important to observe the impact of your words during meal times. (Warning: Rated R for language.) Measuring the financial impact of the government-instituted changes is now a focus. Credit-card payments are one of the first places where the effects will show[…]
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Posted To: MBS Commentary This morning, GDP came out at -4.8%, the lowest reading since Q1, 2009. The Fed announcement and press conference will be out this afternoon. But the most interesting development may well be the emergence of the 2.0 30yr fixed UMBS coupon in the secondary mortgage market.[…]
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Posted To: MND NewsWire Everyone knew that the March pending home sales report, the first real measure of the impact of the COVID-19 impact on the residential real estate markets, was going to be bad. It was that and more. The National Association of Realtors® (NAR) said its Pending Home[…]
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Posted To: MND NewsWire The Mortgage Bankers Association (MBA) reported a second strong week for purchase applications last week although refinancing continued to dominate the mortgage market. MBA’s Market Composite Index, a measure of application volume, was down 3.3 percent on a seasonally adjusted basis during the week ended April[…]
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Posted To: Mortgage Rate Watch Mortgage rates moved down nicely last week and have either maintained or improved upon those levels this week. The catch is that the good times aren’t rolling for everyone. Borrowers with lower credit scores, less equity, and especially those needing a cash-out refinance are quickly[…]
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Posted To: MND NewsWire The U.S. Homeownership Rate reached its highest level in nearly seven years in the first quarter of 2020. The Census Bureau said the rate, 65.3 percent, tied with the rate in the third quarter of 2013. The rate hit a multi-decade low of 62.9 percent in[…]
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