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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.

  • Balancing inflation the Fed’s focus as rates...

    Strong earnings reports and a better than expected report on jobless claims pushed the 10-year Treasury note yield higher over the last week with investors hoping these are signals of an improving economy. The 10-year note yield rose to 1.67%—a gain of 4.3 basis points (1 basis point is equal to […]

  • Jeffrey Neilsen, Branch Leader of Team Neilsen,...

    FAIRFAX, VA — Movement Mortgage, a national top 10 retail mortgage lender, is excited to announce the return of Jeffrey and Amanda Neilsen and Team Neilsen, to provide more thorough coverage to the home buying market in the Washington DC suburbs and Fairfax County, Virginia. With close to 20 […]

  • What is a first-time homebuyer, anyway?

    If you’re a first-time buyer in just about any region of the USA these days, it can feel like the odds are against you. Prices are higher, bidding wars abound, and sellers can be a lot pickier about who they want to sell to (cash offers with no inspections often move to the front of the line.) […]

  • How the Fed’s tapering timeline could affect...

    The Federal Reserve could start its bond purchase tapering by mid-November. The minutes from September’s Federal Open Market Committee meeting shows committee members discussing tapering bond and Treasury purchases by $5 billion and $10 billion each month, respectively. The target date to finally […]

  • Six more major home-buying mistakes you’ll want...

    Last month we wrote about mistakes for new homeowners. But we came up with a few more. Here you go!   Is it a good time to think about buying a home? That’s a personal question and only you can accurately answer it. The running joke is that a desperate real estate agent will tell you that the […]

  • MLO Jobs; BI, HELOC, Joint Venture, Sales Tools;...
    by Rob Chrisman on October 22, 2021 at 2:31 pm

    Posted To: Pipeline PressSemper Fi! Tomorrow marks the 38th anniversary of the 1983 bombing in Beirut of a U.S. Marine barracks in the largest conventional explosive blast in history killing 241 Americans. San Diego has a huge military presence, and while there I spent a few hours with the folks at […]

  • MBS Morning: Have Bonds Sold Off Enough to Catch...
    by Matthew Graham on October 22, 2021 at 2:04 pm

    Posted To: MBS CommentaryTo buy the dip or not to buy the dip (in bond prices). That is the question faced by traders today as 10yr yields hit the 1.70% technical level in after hours trading yesterday. This potential technical support coincides with the upper boundary of the ongoing trend channel. […]

  • Big Jump in Home Sales--Impressive Considering...
    by Jann Swanson on October 21, 2021 at 8:27 pm

    Posted To: MND NewsWireExisting home sales resumed an upward trajectory in September after dipping 2.0 percent in August. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhouses, condominiums, and cooperative apartments rose 7.0 percent in September, […]

  • MBS RECAP: Fear of The I-Word
    by Matthew Graham on October 21, 2021 at 8:21 pm

    Posted To: MBS CommentaryFear of The I-Word Today's 5yr TIPS auction met with heavy demand for inflation protection. While that didn't move markets at the time, it nonetheless underscores the heavy inflation concern driving traders to flatten the yield curve and move up estimated Fed rate hike […]

  • Another Day; Another Long-Term High For Rates
    by Matthew Graham on October 21, 2021 at 7:30 pm

    Posted To: Mortgage Rate WatchMortgage rates haven't really been able to catch a break recently. This week is shaping up to be one of the worst since March. Since then, only 2 other weeks have been worse and they both occurred in the past month. In and of itself, today's jump in rates wouldn't be […]

  • Recruiting, MLO Jobs; Processing, Automation,...
    by Rob Chrisman on October 21, 2021 at 2:57 pm

    Posted To: Pipeline PressThousands of people in the residential lending biz headed to the San Diego aerodrome and flew home. Plenty were sore from wearing dress shoes everywhere, although I saw plenty of gals in flip flops while in transit. Guys are happy to stop wearing ties. Masks at the airport […]

  • MBS Morning: The Trend is Not Your Friend
    by Matthew Graham on October 21, 2021 at 2:51 pm

    Posted To: MBS CommentaryConsidering yields have pushed to new long-term highs on 3 out of the past 3 days, it's safe to say that bonds are "trending" as opposed to flat/sideways. Covid cases are down sharply week-over-week. Econ data continues to be decent enough. And there are no signs that the […]

  • MBS RECAP: Sideways to Slightly Weaker After...
    by Matthew Graham on October 20, 2021 at 8:24 pm

    Posted To: MBS CommentarySideways to Slightly Weaker After Another Long-Term High 10yr yields hit a 5-month high early in the overnight session and then managed to claw their way back to modestly stronger levels by the start of domestic trading. Amid a dearth of data and actionable headlines, bonds […]

  • Mortgage Rates Hold Steady Near Multi-Month Highs
    by Matthew Graham on October 20, 2021 at 7:44 pm

    Posted To: Mortgage Rate WatchMortgage rates began moving off longer term lows in early August and that trend has continued ever since. The September 22nd Fed Announcement (and press conference with Fed Chair Powell) served as a jumping-off point for additional volatility and upward momentum. In […]

  • MBS Morning: Range-Finding With 2 Weeks Until Fed...
    by Matthew Graham on October 20, 2021 at 2:31 pm

    Posted To: MBS CommentaryToday has the dubious distinction of being exactly 2 weeks before the Fed announcement (the one that's likely to contain the official tapering announcement). While tapering seems like a bad thing for rates, the timing is important. The most relevant precedent (2013/2014) […]

  • MLO, AE Jobs; Sales, Retention, Recruiting Tools;...
    by Rob Chrisman on October 20, 2021 at 2:27 pm

    Posted To: Pipeline PressSomeone here in San Diego asked an audience, “Who out there misses their Blackberry?” and many raised their hands. Technology… an interesting thing. How about the ability to look at this “Star Wars House” in Florida: $11.5 million, not even on the water, but page […]

  • New Home Purchase Applications Fall as...
    by Jann Swanson on October 20, 2021 at 2:22 pm

    Posted To: MND NewsWireThe volume of applications for mortgages to purchase newly constructed homes plunged in September, falling 16.2 percent from the September 2020 level according to the Mortgage Bankers Association's (MBA's) Builder Application Survey (BAS.) Compared to August the volume of […]

  • Mortgage Application Volume Declines For Fourth...
    by Jann Swanson on October 20, 2021 at 2:20 pm

    Posted To: MND NewsWireMortgage application volume fell sharply last week, the second decline of more than 6 percent in the past three weeks. Refinancing was down for the fourth straight week and the volume of purchase applications fell as well. The Mortgage Bankers Association (MBA) said its […]

  • MBS RECAP: The Trend is Not Your Friend
    by Matthew Graham on October 19, 2021 at 8:30 pm

    Posted To: MBS CommentaryThe Trend is Not Your Friend October has been one of those unpleasant months where bonds have several reasons to weaken, few to rally, and where the market hasn't expressed any interest in departing from the logical baseline. In other words, rates are supposed to be rising […]

  • Mortgage Rates Stabilize For Now
    by Matthew Graham on October 19, 2021 at 7:48 pm

    Posted To: Mortgage Rate WatchMortgage rates hit their highest levels in months yesterday as bonds lost ground at a brisk pace to start the new week. Bonds--specifically mortgage-backed securities (MBS)--are the most important ingredient used by lenders to determine mortgage rates. Bond market […]

  • FHFA Announces Changes to Low Income Refi...
    by Jann Swanson on October 19, 2021 at 6:08 pm

    Posted To: MND NewsWireBoth Fannie Mae and Freddie Mac (the GSEs) will be expanding their low-income refinance programs to include those making at or below 100 percent of an area's median income (AMI). The threshold on the programs is currently at 80 percent of AMI. Sandra L. Thompson, acting […]

  • Construction Numbers Fall Back from August Levels
    by Jann Swanson on October 19, 2021 at 2:36 pm

    Posted To: MND NewsWireBoth permits and housing starts fell in September following an unanticipated increase the previous month. Where the August gains were driven primarily by strong multifamily construction activity, a decline in that sector hurt the September metrics. Permitting was especially […]

  • Call Center, LO Jobs; Post-Closing, Broker CRM,...
    by Rob Chrisman on October 19, 2021 at 2:34 pm

    Posted To: Pipeline PressThe MBA's conference, which began with a capacity crowd at mPower , is packed with meetings and sessions, and I am sure glad that I’m not going between them in heels! (To paraphrase a joke about how, Fred Astaire was a great dancer, but Ginger did all those moves in heels […]

  • MBS Morning: The Shift Continues, Even If You...
    by Matthew Graham on October 19, 2021 at 2:01 pm

    Posted To: MBS CommentaryIt's an interesting time for rates because the market collectively knows where it should be going (i.e. toward even higher rates), yet seems to be dragging its feet in getting there. That's not to say rates aren't higher in the past few weeks, but 10yr yields continue to […]

  • MBS RECAP: Decent Recovery After a Rocky Start
    by Matthew Graham on October 18, 2021 at 8:21 pm

    Posted To: MBS CommentaryDecent Recovery After a Rocky Start Bonds sold off right at the start of the overnight session with yields nearly matching the recent overnight high from last Tuesday. Losses continued into the domestic session. Oil, inflation concerns, Fed rate hike expectations, […]

  • Highest Rates in Months
    by Matthew Graham on October 18, 2021 at 7:24 pm

    Posted To: Mortgage Rate WatchMortgage rates had a mixed showing last week. They started out high before improving through Thursday. Finally, they took a step back up on Friday. Now at the start of the new week, the upward momentum is continuing. The bond market was much weaker in overnight […]

  • MBA Expects 2022 Plunge in Refis to Offset...
    by Jann Swanson on October 18, 2021 at 4:21 pm

    Posted To: MND NewsWireMembers of the Mortgage Bankers Association (MBA) are holding their annual convention in San Diego this week and the opening day was accompanied by the usual flurry of press releases including forecasts from the association's economists for the coming year. The projections, […]

  • Supply Issues Aren't Hurting Builder Sentiment -...
    by Jann Swanson on October 18, 2021 at 4:19 pm

    Posted To: MND NewsWireHome builders apparently pushed aside current concerns about supply chain disruptions to display increased confidence in the new home market in October. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) which gauges that confidence rose 4 […]

  • LO Jobs and Transitions; Broker, Credit, Debt...
    by Rob Chrisman on October 18, 2021 at 2:20 pm

    Posted To: Pipeline PressOne discussion topic here at the MBA’s annual conference, besides how rates are pressing higher, is how wonderful the San Diego weather is. But there are much better places to see autumn colors than coastal Southern California. (The 2021 Fall Foliage Map is a visual […]

  • MBS Morning: Does The Volume Matter? Oil? Fed...
    by Matthew Graham on October 18, 2021 at 2:05 pm

    Posted To: MBS CommentaryWe typically don't talk too much about volume. It doesn't much matter for the purpose of tracking intraday reprice risk because the price is the price is the price. When we look beyond the intraday time frame, elevated volume can add validation to any particular move. If […]

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