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Mortgage Rates Unchanged

Mortgage rates were very close to unchanged despite market volatility surrounding the release of today’s GDP figures.  GDP can occasionally cause a significant response in mortgage rates, and that’s especially true of the “advance” release.  That’s due to the fact that the “advance” release is the first look at GDP for any given quarter.  Subsequent […]

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Mortgage Rates Today

Bond markets came into the domestic session in slightly weaker territory owing largely to losses that occurred right at the start of the overnight session.  10yr yields were dragged up to 2.322 as Asian markets had their first chance to react to yesterday’s FOMC Announcement in a meaningful way.  Weakness remained intact despite a nice […]

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The Day Ahead

Although Pending Home Sales will be out this morning at 10am, and although that’s fairly interesting data in its own right, today’s broader market focus will most assuredly be on the FOMC. Today’s Fed announcement is trickier than most. We’re NOT at all likely to see any shift in policy.  Yet the very next meeting […]

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Fannie Mae Lowers Mandatory Waiting Period After Bankruptcy, Short Sale, & Pre-Foreclosure

Mandatory Waiting Period Reduced To 2 Years It’s getting easier to get approved for a mortgage. Following in the FHA’s footsteps, Fannie Mae has reduced the mandatory waiting period for a mortgage after bankruptcy, short sale, or pre-foreclosure. Borrowers no longer need to wait 4 years before re-applying to get a mortgage. Borrower can now […]

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The Day Ahead

Bond markets pulled back overnight on a combination of global stock market stability and European data.  Selling pressure remained this morning as corporate debt issuance is active.  (That means that firms that were planning on issuing new debt saw this pull back in rates as good opportunity to pull the trigger.)  Even after a much […]

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Mortgage Rates Today

Mortgage rates continued modestly lower for the 5th straight day, further extending Friday’s push to the lowest levels of July.  Even so, most borrowers will see the same rates on lenders quotes, with the improvements in the form of lower closing costs compared to Friday.  The most prevalently quoted conventional 30yr fixed rates remain in […]

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Mid Day Update

S&P futures were well-connected with overnight Treasury trading as global weakness set the tone early.  Chinese stocks are back in the news with another massive drop to kick off the week’s trading.  The Chinese government announced more stock buying late this morning, but it’s had little effect on the general malaise in broader markets. Treasury […]

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Rate Round Up

As you may have noticed, there are three MBS Commentary articles every day, regardless of how much ground we need to cover in terms of news, events, and market movement.  Today would be one of those days where that ground is not only almost non-existent, but has already been covered in the mid-day.  Moreover, it’s […]

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The Day Ahead

What if it’s all not enough–the multiple iterations of QE at home, ongoing QE abroad, ultra low rates for longer than they’ve ever been ultra low, and a generally consumer-friendly inflation environment, among other things? What if this is not enough to get the engine of global growth firing on all cylinders?  What if early […]

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Mortgage Rates Today

Mortgage rates haven’t made any sudden moves recently.  Not only that, but most of the moves have been in a friendly direction this month.  There have only been 2-3 days of volatility surrounding the Greek bailout negotiations (European bond market volatility spilled over into domestic bond markets, which affect mortgage rates).  Other than that, it’s […]

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Mid Day Update

Looking at charts, we might well conclude that bond market trading remains uneventful.  This wouldn’t be a surprise, after all, considering the heretofore theme of ‘summer doldrums’ over the past week.  But developments behind the scenes make the flatness more meaningful. The most noticeable development isn’t actually behind the scenes.  In fact, it’s rather hard […]

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The Day Ahead

Australia will release its CPI data today.  It doesn’t have any bearing on interest rates in the US, and there’s no reason for you to know that it’s happening.  The only reason I mention it is to drive home the point that there’s so very little else going on.  The sky is the limit in […]

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Mortgage Rates Today

Mortgage Rates did move microscopically higher today, but that’s about the worst thing to be said about them.  In fact, it’s one of the only things to be said about rates anywhere!  The bond markets that underlie mortgage rate movement were exceptionally quiet today.  This is a trend that’s been waxing for two distinct reasons.  […]

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Mid Day Update

First and foremost, the overriding theme today is that it’s every bit the uninspired session we expected it to be.  Part of that expectation was that we could see quick moves inside a narrow range due to light liquidity/volume.  This has indeed been the case as trading levels remain totally contained by the range set […]

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