September2020

Homeowner Equity Surged in Q2

Posted To: MND NewsWire There was another big surge in the amount of equity on the balance sheets of American homeowners in the second quarter of this year. CoreLogic reports that the 4.3 percent gain in home prices over the past year sent home equity shooting up by 6.6 percent.[…]

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Home Sales Surge to Best Levels in 14 Years

Posted To: MND NewsWire Existing home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos, and cooperative apartment were at a seasonally adjusted annual rate of[…]

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Ops, LO Jobs; ROI, Workflow, Underwriting Tools; Training; Improving Forbearance Stats

Posted To: Pipeline Press Today (Tuesday), while Washington DC “sucks the air out of the room,” welcome to the Autumn Solstice (Equinox) in the U.S., the day when the Sun appears to cross the celestial equator, heading southward. Others know it as halfway between the day with the most sunlight[…]

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MBS RECAP: Stocks vs Bonds; Bonds vs Supply

Posted To: MBS Commentary Stocks vs Bonds; Bonds vs Supply There's a fairly strong case to be made for stock market weakness helping bond yields remain lower than they otherwise might be in September. As such, we'll be watching the bond market's reaction very carefully in the event of a[…]

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Fannie's Forecast Sees a Brightening Recovery

Posted To: MND NewsWire Fannie Mae has upgraded its forecast for the third quarter gross domestic product (GDP). It now expects growth at an annualized pace of 30.4 percent , up from the 27.2 percent the company’s economists predicted in August. They say that growth has clearly slowed from the[…]

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MBS Week Ahead: Who Knows Where We'd Be Without Stock Market Weakness

Posted To: MBS Commentary One of my favorite pastimes is debunking the notion that stock prices and bonds yields 'always' correlate. Years of indoctrination from the conventional wisdom of money managers have done us no favors as market watchers. Even if you don't invest or actively make decisions about your[…]

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MLO, Ops Jobs; Retention, Co-op Products; USDA Rural Conditional Commitments

Posted To: Pipeline Press If you watch the news long enough, you see all kinds of interesting things. Cracker Barrel is adding alcohol to its menu? Yup! And you must watch this clip with Stephen Colbert working out with, and interviewing, the Notorious RBG (“Is a hot dog a sandwich?”)[…]

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MBS RECAP: Range Trading Settling in For Long(er) Haul

Posted To: MBS Commentary Range Trading Settling in For Long(er) Haul With no significant bond market volatility in response to this week's Fed announcement. The question of "where do we go now" remains. The answer remains as well. Until further notice, it's "sideways!" Econ Data / Events 20min of Fed[…]

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Here's What The Fed's 0% Rate Outlook Means For Mortgages and Housing

Posted To: Mortgage Rate Watch Mortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka “The Fed”). So when the Fed says it expects rates to be “zero” at least until the end of 2023, does the same go[…]

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Refis Increased Slightly in August, FICO Scores Highest This Year

Posted To: MND NewsWire The refinance share of loans originated in August rebounded slightly from July levels as interest rates fell to the lowest in Ellie Mae’s history. The company’s Origination Insight Report says the average rate on all loans fell to 3.09 percent during the month, down from 3.24[…]

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