May2021

Mortgage Rates Moving Higher After Inflation Data

Posted To: Mortgage Rate Watch After bottoming out at 2 month lows late last week, mortgage rates have been heading higher. At first, the move was relatively gradual, but the pace increased today after a key report on inflation came out much stronger than expected. Why do rates care about[…]

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MBS RECAP: Inflation Data Throws Down Gauntlet. Markets Panic

Posted To: MBS Commentary Inflation Data Throws Down Gauntlet. Markets Panic It's easy enough to imagine or even expect that near-term inflation spikes are transitory and that it will be a tall order to sustain core annual levels in the 2.5% neighborhood–especially when you're heading into the day with the[…]

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MLO, AE Jobs; Lead Gen, Turn Time, Jumbo Products; Guild/RMS Deal

Posted To: Pipeline Press Is Better.com worth $7.7 billion , as indicated by the SPAC deal announced yesterday? I guess things are worth the price at which a willing buyer and seller transact. For comparison, the book value of Rocket is $34 billion, UWM $10.9 billion, Guild Mortgage $876 million.[…]

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MBS Day Ahead: Bonds Reeling From Inflation Data and Waiting on 10yr Auction

Posted To: MBS Commentary After last Friday's weaker jobs report, bonds rallied at first, but then bounced into weaker territory in just a few hours. That failure meant bond yields ran the risk of treating 1.53% as a technical floor. It also meant 1.62% stood a greater risk of being[…]

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Mortgage Application Volume Revs Up For The First Time Since April

Posted To: MND NewsWire Mortgage application volume rose for the first time since mid-April last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 2.1 percent on a seasonally adjusted basis during the week ended May 7 and was 2.0 percent higher[…]

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Conventional Loan Access Expanded in April

Posted To: MND NewsWire Access to mortgage financing improved in April, driven by a large gain in the availability of both conforming and jumbo mortgages. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.2 percent to 128.1 during the month. An increase in the MCAI[…]

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Even "Off-Radar" Metros Saw Huge Q1 Price Gains

Posted To: MND NewsWire Metro area home prices rose sharply in the first quarter of 2021 and virtually every part of the country was impacted. The National Association of Realtors® (NAR) said that 99 percent of the 183 areas it tracks posted annual price gains, and for 89 percent (163[…]

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Mortgage Rates Moving Higher Again

Posted To: Mortgage Rate Watch Mortgage rates had enjoyed a solid little run for almost all of April and again in the first week of May. By last Thursday, they were at their lowest levels in more than 2 months in many cases. Even now, they’re still closer to those[…]

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MBS RECAP: Bonds Still Struggling. 10yr Staging For a Bigger Move?

Posted To: MBS Commentary Bonds Still Struggling. 10yr Staging For a Bigger Move? After holding ground admirably overnight despite the pull of weaker bond market in Europe, Treasuries and MBS lost ground in the first few hours. By 9:40am, we'd seen the weakest levels of the day and everything was[…]

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MBS Day Ahead: Bonds Bide Time With Fed Speakers and Auction Anxiety

Posted To: MBS Commentary Bonds lost ground moderately yesterday and blame was most easily assigned to the broad notion of "supply." More specifically, a record-setting round of Treasury auctions kicks off today with 3yr notes, which are by far the least relevant of the 3. Things don't get super serious[…]

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