May2021

MBS RECAP: Decent Gains Despite Hotter Inflation Data

Posted To: MBS Commentary Decent Gains Despite Hotter Inflation Data While there was nothing especially memorable about today's trading action itself, the fact that 10yr yields ended 2.5bps lower despite a core PCE reading of 3.1% is surely worth remembering. It stands as evidence that the bond market is indeed[…]

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Non-Government Loans See Jump in Forbearances

Posted To: MND NewsWire The forbearance numbers increased again over the past week although Black Knight, in its weekly report, said these mid- to late-month upticks are becoming common . The number of mortgages in active plans rose by 16,000 or 0.73 percent. The number of Fannie Mae and Freddie[…]

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Mortgage Rates Move Higher, Erasing 2 Days of Progress

Posted To: Mortgage Rate Watch Mortgage rates were moderately higher today versus yesterday. This was a logical outcome based on steady weakness in the bond market yesterday followed by additional weakness today. While the moves aren’t extreme in the bigger picture, they do push the average lender back into the[…]

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Pending Home Sales Decline Unexpectedly

Posted To: MND NewsWire It seemed safe to say, even before the National Association of Realtors® (NAR) released the pending home sale numbers for April, that some analyst somewhere would be able to say, “I told you so.” Trading Economics had a +0.8 consensus estimate while Econoday’s consensus of 2.0[…]

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MBS RECAP: Moderate Weakness; Decent Treasury Auction

Posted To: MBS Commentary Moderate Weakness; Decent Treasury Auction 7yr Treasury auctions haven't been great for the bond market in 2021, generally speaking. Today's was an exception although it didn't necessarily provide a huge boost. Yields were at the highs of the day, up more than 4bps at 1.625% just[…]

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