March2021

Mortgage Rates Back Near Long-Term Highs

Posted To: Mortgage Rate Watch Mortgage rates moved moderately higher today after failing to capitalize on a hopeful move in bond markets yesterday. Bonds–particularly mortgage-backed bonds–are directly responsible for most of the day-to-day movement in mortgage rates, and they’ve been losing ground all year. Like several days in the past[…]

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MBS RECAP: Moderate Weakness But No Major Quarter-End Drama

Posted To: MBS Commentary Month/Quarter-End Trading Refresher; More Stimulus Details Today is the last day of the month and quarter. That means more for financial markets than it does for many other sectors. While there is no hard and fast rule concerning timing, there is historically increased trading activity at[…]

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MLO Jobs; Broker, Jumbo, Leads, Presentation, Liquidity Tools; FHA, Ginnie, USDA News in Context

Posted To: Pipeline Press What word becomes shorter when you add two letters to it? Short. (There’s the cutting-edge wit this commentary is known for!) Time can play tricks on us. Did you know that the fabled Studio 54 in Manhattan was only open from 1977 to 1980? Did you[…]

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Pending Home Sales Take a Big Hit, Back to Pre-Covid Levels

Posted To: MND NewsWire February’s pending home sales suffered a double digit month-over-month decline in February and fell below the pace a year earlier for the first time in eight months. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) dropped from 122.8 to 110.3, a[…]

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FHA Will Keep Mortgage Insurance Fund Rates Stable

Posted To: MND NewsWire The newly installed Secretary of the Department of Housing and Urban Development (HUD) released her first quarterly report on the agency to Congress on Tuesday. A key point regarded the Federal Housing Administration’s Single Family Mutual Mortgage Insurance (MMI) Fund. Secretary Marcia L. Fudge said the[…]

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MBS Day Ahead: Real Story on Feb/March Rate Spike: Stimulus vs Inflation

Posted To: MBS Commentary Today is the last day of the month and quarter. That means more for financial markets than it does for many other sectors. While there is no hard and fast rule concerning timing, there is historically increased trading activity at the end of month (and quarter)[…]

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Even With Recent Declines, Purchase App Volume is Still Outpacing 2020

Posted To: MND NewsWire Mortgage Application volume continued to trend down during the week ended March 26. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, declined 2.2 percent on a seasonally adjusted basis from the previous week and was down 2 percent on[…]

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MBS RECAP: 'Unchanged' Feels Like a Victory

Posted To: MBS Commentary 'Unchanged' Feels Like a Victory Bonds began the day at the highest yields in more than a year and slowly worked their way back to 'unchanged.' Solid justification for the move (in either direction) was elusive. Traders are talking in generalities with topics such as corporate[…]

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Mortgage Rates Snap Back to Recent Highs Before Recovering

Posted To: Mortgage Rate Watch There are a few interesting developments for mortgage rates today–especially in light of last week’s striking discrepancy between Freddie’s weekly survey and the reality on the front lines. Specifically, the Freddie survey finally did a bit more to catch up with reality as it conveyed[…]

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January's Double-Digit Home Price Gains Continue to Break Records

Posted To: MND NewsWire The S&P CoreLogic Case-Shiller home price indices and the Federal Housing Finance Agency’s (FHFA’s) House Price Index (HPI) all show that the growth of home prices continued to accelerate through January , even as interest rates began to creep higher. Case-Shiller’s National Home Price Index, which[…]

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