Mortgage
Mid-Month Forbearance Pattern Repeats; More On Mortgage Rates’ Ticking Clock; Freddie Adopting SOFR
There was an increase in the number of loans in forbearance over the last week as the share within all lender portfolios, even the GSEs’, moved higher. Black Knight said, however, that an uptick in mid-month has become common, generally driven by fewer borrowers exiting their plans. This was true this past week as well. […]
Mortgage Rates Well-Protected From Jobs Report Volatility
Posted To: Mortgage Rate Watch Tomorrow brings the month’s most important economic report: the Employment Situation, often referred to simply as “the jobs report.” No other piece of economic data has remotely the same track record of inspiring movement in the bond market (which, in turn, inspires movement in interest rates). But not all interest […]
Instant Reaction: Mortgage Rates, November 19, 2020
Mortgage rates hit another record low this week for the thirteenth time this year. www.nar.realtor – Research
Mortgage Rates Move Lower Today, But Don’t Count on a Repeat Tomorrow
Mortgage rates were little-changed yesterday–a fact that was ultimately at odds with underlying market movement by the end of the day. What does that mean? Simply put, mortgage rates are primarily determined by the trading prices of certain bonds (MBS, in this case). MBS change every second of the trading day though, so mortgage lenders […]
Mortgage Rates Remain Near Recent Lows
Posted To: Mortgage Rate Watch Mortgage rates were little-changed today, with the average lender only microscopically better than yesterday. That means few loan seekers will notice any difference from yesterday. That leaves us in line with the low rate levels seen immediately following the election earlier this month, and that’s as low as rates have […]
Nice Bounce Back For Mortgage Rates After Rocky Start This Week
Posted To: Mortgage Rate Watch Earlier in the month, mortgage rates rose somewhat abruptly as lenders got in a defensive position ahead of the election. They’d learned in 2016 just how volatile the bond market (the key ingredient in the rate movement equation) could be after an election and it made sense to minimize exposure […]
Mortgage Rates Mostly Flat Despite Stronger Bond Market
Posted To: Mortgage Rate Watch Mortgage rates are mostly determined by the trading levels of mortgage-backed bonds on the open market. When those bonds improve, mortgage rates move lower, all other things being equal. For a variety of reasons, that typical relationship has been hit and miss on any given day since the pandemic began. […]
Fannie Asks Mortgage Execs How to Improve Condo Lending
The most recent Fannie Mae’s Lender Sentiment Survey focuses on the complexities of lending to the condominium market. The company stresses that this type of housing can play an important role in narrowing the supply gap for affordable housing options as well as providing an attractive alternative for homeowners seeking to downsize. However, since the […]
Mortgage Rates Moving Higher
It began last week. It was subtle–so subtle as to pass largely unnoticed. But the gentle drift toward slightly higher rates has taken bigger steps so far this week. As of this afternoon, the average lender is quoting the highest rates since late September! That’s quite a realization when juxtaposed with last week’s (misleading) headlines […]
CRM, Marketing, Fraud Products; Mortgage Apps Move Higher; LO Jobs
Posted To: Pipeline Press Tom Petty sang, “There’s somethin’ good comin,’ just over the hill, somethin’ good comin’, I know it will. And I’m in for the long run, wherever it goes, ridin’ the river, wherever it goes .” Lenders always walk a knife-edge between wanting good economic times for their customers, and having them […]