Mortgage

Mortgage Rates Start Stronger But Moved Higher During The Day

Posted To: Mortgage Rate Watch Mortgage rates began the day with promise. Actually, it was the underlying bond market (which largely dictates mortgage rates) was sending promising signals by apparently building on the bigger improvements seen on Tuesday. This is exactly what mortgage lenders needed in order to feel comfortable setting rates at even lower […]

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Mortgage Rates Relatively Unharmed, Despite Unexpected Moves in Bonds

It was a busy week for economic data with several reports that were pertinent to the housing market. In addition to being the perennial top dog among economic reports, this Friday’s jobs report was especially important due to its role in the Federal Reserve’s decision-making process. The Fed is widely expected to announce a forthcoming […]

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Mortgage Rates Drift Up From Recent Lows

Posted To: Mortgage Rate Watch Mortgage rates were unchanged to slightly higher today, depending on the lender. The differences in pricing strategies stem from the timing of changes in the bond market. Mortgage lenders set their rates based on the prices of mortgage-backed securities (MBS), which change constantly throughout the day. Despite those changes, there’s […]

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Underwater Homes Drying Up; Forbearances Decline; 3-Week Mortgage Rate Highs

Thanks to rising home prices. hardly any homeowners find themselves underwater on their mortgages and the few that do are concentrated in a few cities and towns. In fact, ATTOM says that more than one-third of mortgaged homes in the country are considered “equity rich” with a combined loan-to-value (CLTV) ratio below 50 percent. The […]

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Mortgage Rates Near Long-Term Despite Taper Talk

“Taper talk” refers to comments, speeches, or official policy communications from the Federal Reserve (aka “the Fed”) that speak to the timing and nature of a reduction in the Fed’s bond buying activities. Wow! What a boring and potentially confusing sentence! Let’s try again… The Fed buys bonds –US Treasuries and mortgage backed bonds (which, […]

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Mortgage Rates Moving Higher So Far This Week

Mortgage rates are coming off a solid performance last week after having moved to the lowest levels in 5 months by Thursday afternoon. This week is shaping up to be a bit different , however. In fact, as of this afternoon, the average lender has lost most of last week’s improvements. What’s behind the volatility? […]

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Mortgage Rates Are Actually LOWER This Week

Mortgage rates hit their lowest levels in a week yesterday and are sideways to slightly lower today, depending on the lender. These facts are not well represented in the news today, where you’re more likely to see stories about rates being much higher this week. What’s up with the discrepancy? As is often the case […]

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Forbearances Tumble; Mortgage Profits Break 2008’s Record; Locking/Floating After Jobs Report

The number of loans in forbearance declined sharply over the course of the past week. Black Knight said the number of homeowners exiting their plans jumped to the highest level in four weeks due to end-of-May expirations. There were also noticeable declines in the number of borrowers returning to the program as well as new […]

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Mortgage Rates Are Low and Stable, But Face Bigger Risks Tomorrow

Mortgage rates moved lower today, bringing the average lender to the best levels since late February. Despite the milestone, the day-over-day movement in rates has been pretty mild. Most lenders are making changes that are only noticeable in the form of upfront costs (aka “points”) as opposed to rates themselves. If we use upfront costs […]

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Mortgage Rates Sideways Near 2-Month Lows

Mortgage rates were mixed today, depending on the lender. On average, rates were unchanged and remained very close to their lowest levels in nearly 2 months. The bond market (which most directly impacts day-to-day rate movement) was calm. Both of today’s important economic reports came in weaker than expected, but close enough to forecasts to […]

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