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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.

  • Mortgage rates continue to trend lower

    The Federal Reserve raised interest rates again at its last meeting, hiking the federal funds rate by 25-basis points. This is the eighth consecutive increase since March 2022 but was also the smallest increase. While that gave investors some hope that the Fed will continue to slow down its […]

  • Movement strengthens East Coast operations with...

    INDIAN LAND, S.C. – Movement Mortgage (Movement), the nation’s sixth-largest retail mortgage lender, is excited to announce the hiring of Co-Regional Directors Brian Koss and Ryan Hayes to head up the Network Region that is located throughout the East Coast. With over three decades in the […]

  • Recession or not, mortgage market is starting to...

    The United States economy continues to produce mixed signals about whether or not the country is headed for a recession. This past week the Commerce Department reported that the United States’ gross domestic product (GDP) grew by 2.9% in Q4—only slightly higher than the 2.8% GDP prediction from […]

  • Justin Andrews To Lead Retail Branch Partner...

    [KIRKLAND, WASHINGTON – January 25, 2023]  — Movement Mortgage, the nation’s sixth-largest retail mortgage lender, is excited to announce the addition of Justin “Juice” Andrews as director of branch partnerships. This newly created position will focus on developing and growing […]

  • Why school districts matter when buying a home

    We help a lot of people buy homes. And one of the conversations we hear a lot between prospective homebuyers and real estate agents is what type of impact a school district has on the value of a home and the quality of life they can expect.  To be sure, school districts play an important role in […]

  • Wild Ride For Rates After Stunning Jobs Report
    by Mortgage News Daily on February 3, 2023 at 9:34 pm

    Interest rates take cues from several places. Regularly scheduled economic data is always a consideration because a stronger economy implies more growth and tighter Fed policy, both of which are bad for rates. Certain reports carry significantly more weight than others.  If put to a vote, the […]

  • Perfect Storm Leaves Rate Range Perfectly Intact
    by Mortgage News Daily on February 3, 2023 at 9:31 pm

    Perfect Storm Leaves Rate Range Perfectly Intact Coming into the week, yields were near the top of a narrow range (3.4-3.56 give or take).  With both ISM reports, the jobs report, and policy announcements from the Fed/ECB/BOE, it was a distinct […]

  • Big Double Whammy For Bonds, But With a Few...
    by Mortgage News Daily on February 3, 2023 at 5:34 pm

    While we may not have a great explanation or even the capacity to believe it, nonfarm payrolls came in at 517,000 this morning versus a median forecast of 185,000.  The bond market has reacted about like you'd expect: with a large, immediate sell-off.  While that number does indeed seem very high […]

  • Enterprise Sales; Staffing, Compliance, Tools;...
    by Mortgage News Daily on February 3, 2023 at 2:31 pm

    Fun with numbers! 1: the number of Chinese surveillance balloons over Montana. (That we know of.) Did you know that the last day of 2023 is 123123? (You heard it here first!) While we’re on random numbers, Atlanta has almost 25 thousand surveillance cameras, grabbing the honors as the most […]

  • Bonds Talked Into Modest Gains by Europe
    by Mortgage News Daily on February 2, 2023 at 8:52 pm

    Bonds Talked Into Modest Gains by Europe US bond traders didn't necessarily come into work with the intention of adding to yesterday's rally.  It was only after European bonds exploded into stronger territory that US yields grudgingly followed--very […]

  • Mortgage Rates Back Under 6% For First Time in...
    by Mortgage News Daily on February 2, 2023 at 8:52 pm

    Mortgage rates responded favorably to yesterday's press conference with Fed Chair Powell.  We discussed that move in detail in yesterday's commentary: Fed Hikes Rates. Mortgage Rates Drop. Here's How That Works. Now today, the average lender improved just a bit more as the Fed's European […]

  • Europe Driving Gains While US Bonds Resist
    by Mortgage News Daily on February 2, 2023 at 4:21 pm

    Today's big story is the European bond market's reaction to the European Central Bank (ECB) announcement.  The hike was as-expected, but the ECB also said the next rate hike is already locked in for March at which point it will reevaluate.  That reevaluation means a pivot toward smaller rate […]

  • Bidding, Credit Verification, DPA, Warehouse,...
    by Mortgage News Daily on February 2, 2023 at 2:54 pm

    Happy Groundhog Day, where the rodent saw its shadow this morning, so plan on six more weeks of winter. There’s an old Yiddish proverb “We plan, God laughs.” Lots of people plan on owning a home, and will need financing. (Today’s podcast features an interview with homeowner Riley Howard […]

  • Fed Hikes Rates. Mortgage Rates Drop. Here's How...
    by Mortgage News Daily on February 1, 2023 at 9:48 pm

    For some, this will be old hat.  For others, there's a mystifying dynamic that demands explanation.  The confusion stems from years of being conditioned to believe that when the Fed "hikes" or "cuts" rates that mortgage rates move accordingly.  That's actually not exactly how it works. The Fed […]

  • Markets Surprisingly Surprised by Unsurprising...
    by Mortgage News Daily on February 1, 2023 at 9:08 pm

    Markets Surprisingly Surprised by Unsurprising Powell Comments We were pretty sure we knew what Powell would generally say in today's press conference.  He turned out to be generally predictable.  After all, there are really only two things the Fed can […]

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