February2021

Highest Mortgage Rates Since June 2020

Posted To: Mortgage Rate Watch As of today, you’d have to go back to June 2020 to see higher mortgage rates. This is courtesy of an ongoing move in the bond market that has longer-term rates/yields surging higher at the quickest pace since the pandemic began. The broader bond market[…]

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MBS RECAP: Is It Another Trap and Which Coupon Do I Watch Now?

Posted To: MBS Commentary Is It Another Trap and Which Coupon Do I Watch Now? Yesterday's bond market resilience offered hope for a bounce, but those hopes were crushed by new weakness this morning. The move took MBS to their worst levels since last March and Treasuries, since February 2020.[…]

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Mortgage Application Volume Continues Decline

Posted To: MND NewsWire The volume of mortgage applications for both home purchase and refinancing fell for the third straight time during the week ended February 19. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, dropped 11.4 percent on a seasonally adjusted basis.[…]

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New Home Sales on the Rise 4.3% in January

Posted To: MND NewsWire New home sales continued the turnaround, started in December, that ended three straight months of slowing sales. The U.S. Census Bureau and Department of Housing and Urban Development said newly constructed homes were sold in January at a seasonally adjusted annual rate of 923,000 units. This[…]

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Delinquency Rate Lowest in COVID Era; but Lingering Risks Remain

Posted To: MND NewsWire Loan performance continued to improve in January although the number of delinquencies remains significantly elevated from pre-pandemic levels. Black Knight’s first look at the month’s loan performance data has both good news and some that is disquieting. The good news is a 121,000-loan decline in the[…]

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MBS Day Ahead: It Was a Trap… Don't Expect Stocks to Save Us

Posted To: MBS Commentary Yesterday saw yields hold at just slightly lower highs on an intraday basis, thus offering a glimmer of hope for a bond bounce. We discussed the risk that this was a trap, and so far today, it looks like it was. 10yr yields are over 1.4%[…]

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MLO Jobs; Servicing, Customer Service, Decisioning, Retention Tools; Events and Training This Week

Posted To: Pipeline Press There’s a cost to staying at home as much as we do. I went to the doctor the other day. She told me, “I’ve got good news and bad news. The good news is that your weight is perfect. The bad news is that you’re two[…]

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MBS RECAP: Glimmer of Hope in Bonds, But It Might Be a Trap

Posted To: MBS Commentary Glimmer of Hope in Bonds, But It Might Be a Trap Bonds started the day in roughly unchanged territory and promptly began tanking. This was a bigger deal for MBS than Treasuries as the latter managed to stay UNDER yesterday's intraday high yields. Heavy losses in[…]

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MBS Day Ahead: MBS Beatings to Continue, Regardless of Morale

Posted To: MBS Commentary In the past few weeks–and especially the past few days–we've seen a sharp spike in MBS yields relative to Treasury yields. And yes, the Treasury yield spike has been plenty sharp in and of itself. That means MBS are taking a huge beating by comparison. Why?[…]

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December Home Price Gains Highest Since 2014

Posted To: MND NewsWire Both the S&P CoreLogic Case-Shiller and The Federal Housing Finance Agency (FHFA) report that the country ended the year with more than a 10 percent annual increase in home prices. The Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, showed a[…]

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