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Bonds began the day in weaker territory partly due to a correction from yesterday's strong run in the afternoon, and partly due to stronger economic data in Europe.  Domestic economic data was stronger too, with Retail Sales coming in at 0.8 versus a...
Mortgage rates held on to yesterday's gains in most cases.  Some lenders were even in slightly better shape today, but not enough to have an effect on anything beyond the upfront costs associated with any given rate quote.  Rates themselves would be right in line with yesterday's.  That's not a...
Volume swelled during the first 3 days of the week, culminating in yesterday's CPI/Fed combo and a fairly large move lower in rates.  That's what we can observe about the short-term.   If we're looking at longer-term trends, however, yesterday's big directional move was all...
The use of Automated Valuation Models (AVM) is expected to expand following the announced plans of the Fannie Mae and Freddie Mac to waive the requirement for a professional appraisal on qualified purchase loans where the loan-to-value (LTV) ratio is at or below 80 percent.  Fannie Mae had previously allowed this...
There’s a lot of airport travel coming up. It is best to stay cool, calm, and collected. Unfortunately, something else that is cool, and calm, is the entry level market for homes. Thousands of housing stats are spit out every year, and here's another one: Zillow finds about...
Homebuyers ponied up the highest downpayments on record to purchase homes in the third quarter of 2017. ATTOM Data Solutions' (formerly RealtyTrac) Residential Property Loan Origination Report says that the median down payment for a single-family home or condo purchased with financing during the quarter rose to $20,000 from $18,162 in the...
Mortgage rates fell fairly quickly this afternoon following the Federal Reserves updated economic projections.  While it is indeed true that the Fed "raised rates" this afternoon, there are two reasons that doesn't matter. First of all, the rate the Fed adjusts (aptly named, the Fed Funds Rate), governs only the...
Heading into the day, we knew we were looking at 2 key market movers in the form of the CPI data and the afternoon's Fed festivities (which include an announcement, economic projections, and a Yellen press conference).  The morning's inflation data got the party...
Posted To: MBS CommentaryInformation received since the Federal Open Market Committee met in SeptemberNovember indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despiterate. Averaging through hurricane-related disruptions. Although the hurricanes caused a drop in payroll employment...
Realtors are expressing concern over three measures that exist in either the House or the Senate versions of the Republican tax cut bill and have sent a letter to Orrin Hatch (R-UT) and Kevin Brady (R-TX), chairs of the Senate Banking and House Ways and Means Committees respectively, about these issues. The...