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Mortgage Daily News

See below for information related to mortgage, real estate and housing matters from our friends at Mortgage Daily News.

Mortgage Daily News

See below for information related to mortgage, real estate and housing matters from our friends at Mortgage Daily News.

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  • Once More: What's Up With MBS Underperformance?
    by Mortgage News Daily on June 14, 2024 at 7:36 pm

    Once More: What's Up With MBS Underperformance? The notion of MBS underperforming Treasuries is front and center today--not because that underperformance is especially large, but mainly because MBS were often in the red while Treasuries were in the green.  […]

  • Mortgage Rates Remain Close to Recent Lows...
    by Mortgage News Daily on June 14, 2024 at 7:27 pm

    Today saw the average conventional 30yr fixed rate rise ever so slightly for top tier scenarios.  Most lenders are still quoting those scenarios just under 7%.  Depending on the specific details of any given scenario, rates range from the mid 6's all the way up to the mid 7's.  Unlike each of […]

  • Tired Friday For The Bond Market--Especially MBS
    by Mortgage News Daily on June 14, 2024 at 5:07 pm

    The bond market has a lot on its mind after this past week of economic data and events.  Inflation quickly and increasingly looks like it may (finally) be turning the long-hoped-for corner.  Timely employment metrics raise questions about labor market softening and Fed speakers are so eager to […]

  • LOS, Processing, Non-QM, IT Tools; Private...
    by Mortgage News Daily on June 14, 2024 at 3:51 pm

    “In Florida earlier this week we celebrated with a couple of adult beverages: Metamucil and Ensure.” Every state has its quirks, and every state is made fun of by those in other states. Human nature, right? Here in Chicago, the restaurant scene is on fire, but White Sox fans aren’t happy […]

  • Helpful Data, MBS Underperformance, Is This Time...
    by Mortgage News Daily on June 13, 2024 at 7:46 pm

    Helpful Data, MBS Underperformance, Is This Time Different? The bond market reacted favorably to this morning's economic data which consisted of sharply lower producer prices at the core level and sharply higher jobless claims.  But based on the next few […]

  • Mortgage Rates Little Changed at Lowest Levels...
    by Mortgage News Daily on June 13, 2024 at 7:35 pm

    You'd have to go back to March 28th to see the average mortgage lender offering a lower rate on a top tier, conventional 30yr fixed scenario than they're offering today.  The same was technically true yesterday and today's rates were just a hair lower. That said, some lenders have done things […]

  • MSR Valuation, Non-QM, VOIE, Online Auction,...
    by Mortgage News Daily on June 13, 2024 at 3:42 pm

    This morning I head to Chicago, IL, a state with 972 licensed mortgage banking companies. Illinois has had its share of severe storm damage (heck, in Sarasota we just had upwards of 10 inches of rain in about 12 hours), and may be joining the ranks of places in the U.S. where the cost of insurance […]

  • Another Round of Rate-Friendly Data, But Yields...
    by Mortgage News Daily on June 13, 2024 at 2:48 pm

    In a nutshell, this morning's economic data rapidly reversed the weakness seen after yesterday's Fed announcement, thus restoring the lowest yields achieved after yesterday's CPI data.  Today's core monthly PPI is probably the bigger consideration, coming in at 0.0 vs 0.3--a big beat to be sure.  […]

  • Massive CPI Rally Cut in Half After Fed...
    by Mortgage News Daily on June 12, 2024 at 8:22 pm

    Massive CPI Rally Cut in Half After Fed Announcement As discussed in the AM commentary, bonds rallied sharply after this morning's CPI data (unrounded core monthly inflation at .163% versus a 0.3% forecast).  Those gains held up uneventfully until the Fed […]

  • Mortgage Rates Drop Sharply After Inflation Data...
    by Mortgage News Daily on June 12, 2024 at 8:10 pm

    It was an incredibly high consequence day for the bond market and, thus, mortgage rates due to the confluence of two extremely important events. The first event was the monthly release of the Consumer Price Index (CPI), which is one of the two economic reports with the far more power to influence […]

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