Mortgage News Daily:
Black Knight: Prepayments are Falling, Hurricane Effect Lingers
3/22/2018 9:51 AM
Posted To: MND NewsWireAs interest rates rise and refinancing declines, the impact is beginning to manifest in the loan prepayment rate . The single month mortality rate (SSM) followed a 15 percent decline in January with another 9 percent loss in February. Black Knight says, in its "first look" at February loan performa...Read More
Ignoring Trend, Home Prices Surged in January
3/22/2018 9:07 AM
Posted To: MND NewsWireHome prices took a big leap in January , at least according to the Federal Housing Finance Agency"s (FHFA"s) seasonally adjusted House Price Index (HPI). The 0.8 percent increase from December was the largest since last February and reversed what had been a gradual and uneven decline. The November ...Read More
"Significant" Reduction in Closing Times - Ellie Mae
3/22/2018 8:27 AM
Posted To: MND NewsWireThe 5-point surge in the share of refinancing loans that closed in January didn"t survive the month. Ellie Mae"s Origination Insight Report shows that share dropped from 45 percent to 43 percent in February. Refinancing lost market share for both VA and conventional loans but held steady at an alre...Read More
MBS Day Ahead: Brace For Nonsense in The News
3/22/2018 8:15 AM
Posted To: MBS CommentaryOne of my favorite things to do is to push back on news media bandwagons with indignation and incredulity. Today provides a great opportunity for that because stocks are starting off weaker and most media outlets seem to be focused on the wrong stuff, or rather, only focused on one...Read More
Insurance Products; Trends in Servicing Sales; State"s $0 Down Payment Offer
3/22/2018 8:13 AM
Posted To: Pipeline Press“Skin in the game” is a key component for lower delinquency and foreclosure rates, as borrowers have come up with required down payments. Mortgage investors like that kind of thing. But news broke that Massachusetts has now launched a “No-Money-Down...Read More
MBS RECAP: After Miraculous Recovery, Bonds Upgraded to "Not Quite Dead"
3/21/2018 5:08 PM
Posted To: MBS CommentaryIf you're not up to speed on a few of the funniest scenes from Monty Python and The Holy Grail, this analogy is going to be tough to follow. In the interest of not posting a link that could eventually die (you never know with copyrighted material on youtube), your best bet woul...Read More
Mortgage Rates Higher, Then Lower After Fed Announcement
3/21/2018 4:22 PM
Posted To: Mortgage Rate WatchMortgage rates rose to new 4-year highs this morning as lenders took a defensive stance ahead of the afternoon"s Fed Announcement. The caution proved to be warranted, at least at first, as bond markets reacted negatively to the first phase of Fed-related information. Notably, the F...Read More
Differences Between Previous and Current FOMC Statements
3/21/2018 1:04 PM
Posted To: MBS CommentaryInformation received since the Federal Open Market Committee met in DecemberJanuary indicates that the labor market has continued to strengthen and that economic activity has been rising at a solidmoderate rate. Gains in employment, household spending, and business fixed investment...Read More
Move Over Millennials, Gen Z is Already Buying Homes
3/21/2018 12:02 PM
Posted To: MND NewsWireWho"s afraid of growing up? Apparently not Generation Z. The post-Millennial crop of kids, those born in 1995 and later, are already moving into homeownership. Maria Lamagna, writing for MarketWatch says just shy of 100,000 members of Gen Z, whose ages top out at 23, have a mortgage. Their average ...Read More
Existing Home Sales Score First 2018 Gains
3/21/2018 10:01 AM
Posted To: MND NewsWireSales of existing homes reversed direction in February after sliding for two consecutive months. The National Association of Realtors® (NAR) said completed sales transactions of pre-owned single-family houses, condos, townhomes, and cooperative apartments were up 3.0 percent to a seasonally adj...Read More