Skip to content
Site Tools
Narrow screen resolution Wide screen resolution Auto adjust screen size Increase font size Decrease font size Default font size
You are here: Home arrow Mortgage Resources
Mortgage News Daily


  • MBS RECAP: Bonds End Unchanged After Mid-Day Scare

    Posted To: MBS Commentary

    Treasuries were weaker at the start of the overnight session as renewed US/China trade negotiations propelled global equities markets higher. The hallmark of yesterday's overnight session was a sharp drop in Chinese stock futures which spilled over to US markets throughout the day. In other words, today was a reversal of yesterday. Granted, the trade-related news wasn't the only motivation, but it was definitely in play when Chinese equities opened at 9:30pm. Before that, there were some positive undercurrents in place from the morning's economic data. An exceptionally and surprisingly weak Philly Fed Index fueled a moderate rally at the that lasted until the 9:30am NYSE Open. From there, US equities took over as the key guidance-giver for bonds. Stocks spiked at the open and Treasury...(read more)

    Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



  • Mortgage Rate Misinformation Run Amok!

    Posted To: Mortgage Rate Watch

    Be careful what you read--or perhaps, who you trust--about mortgage rates today. There's a lot of misinformation out there. Don't be mad. No one is out to get you. No one is out to intentionally deceive you (at least not when it comes to today's mortgage rate news. Rather, the misinformation is a byproduct of a few unfortunate realities that we contend with on a regular basis. The first reality is that Freddie Mac's weekly rate survey is widely relied upon by media outlets. There's nothing wrong with Freddie's data as long as you understand what you're getting. It is a stale, loosely accurate report of what a few lenders are offering on a few days of any given week. Over time (preferably, a LONG time), it does a nearly perfect job of capturing the ups and down in mortgage rates. The problem...(read more)

    Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



  • Purchase Origination Share Remains at Survey High

    Posted To: MND NewsWire

    Purchase loans held on to the June share of 71 percent of closed loans in July which remains the highest share in the seven-year history of Ellie Mae's Origination Insight Report . Refinances also held steady, remaining at 29 percent although the percentage of refinancing through the VA gained 2 percentage points to 25 percent. Conventional and FHA stayed at 31 and 19 percent respectively. The distribution of new loans remained the same as in June as well, with 66 percent of originations going to conventional loans, 20 percent FHA, and VA loans accounting for 10 percent. The share of Adjustable Rate Mortgages (ARMs) dropped to 6.6 percent from 6.9 percent the previous month. "The purchase market remained solid in July and as we see inventories rise, we might begin to see a transition to a buyer...(read more)

    Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



  • MBS Day Ahead: Turkey Causing Road Rage; Another Look at Moving Average Misdirection

    Posted To: MBS Commentary

    I found myself driving in the truck for more than an hour yesterday evening--long enough to hear the news cycle repeated several times. During that time, I was emphatically warned about this " new " and " surprising " issue of Turkey's financial crisis. Apparently this has the potential to send shockwaves through global financial markets. Other people get road rage when other drivers are less than courteous, or due to ridiculous traffic perhaps. I get road rage when news radio misses the mark on financial market movers. I explained this to the officer that pulled me over for ostensibly making menacing gestures toward other drivers. He was going to give me a ticket anyway until I pulled out the laptop to put together the following chart for him. After he saw it, he apologized...(read more)

    Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



  • Construction Numbers Post Sluggish Recovery

    Posted To: MND NewsWire

    As analysts had predicted, both housing permits and starts recovered , albeit only slightly, in July after a poor showing the previous month. The U.S. Census Bureau and the Department of Housing and Urban Development now report that housing permits are being issued at a pace higher than in 2017, but housing starts are still lagging the earlier number. Permits for privately owned residential construction were issued in July at a seasonally adjusted annual rate of 1,311,000 units. This is an increase of 1.5 percent from the June rate of 1,292,000 (revised from 1,273,000 units). July's permitting rate is now 4.2 percent higher than that of July 2017. Analysts polled by Econoday had predicted permits would be at a rate ranging from 1,280,000 to 1,325,000. Their consensus was slightly below the...(read more)

    Forward this article via email:  Send a copy of this story to someone you know that may want to read it.