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Mortgage News Daily

MBS RECAP: Quietest Day of The Week Despite Several Interesting Tidbits

Posted To: MBS Commentary

We've been watching the intraday trading ranges in bond markets to keep an eye on just how flat things have been in the wake of last Wednesday's big trading day (due to econ data and the Fed). "Inside day" is a term that comes up when things are this flat. It refers to a day's trading range falling "inside" the previous day's range. This week has been notable in that Tuesday and Friday were both inside days. That's particularly striking today as it required a narrow trading range of a mere 2.44bps (2.142 - 2.166). Adding to the intrigue is the fact that there were a few tradeable headlines--especially from Fed speakers who seemed to be singing more dovish tunes on the prospect for inflation to frustrate the policy path. Then again, the grudgingly slow...(read more)

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Rates Cap Impressively Sideways Week Near Long-Term Lows

Posted To: Mortgage Rate Watch

Weeks like this are the reason that some mortgage rate analysis is only done once a week. There haven't been any significant developments in financial markets--at least not as far as bonds (which dictate rates) have been concerned. And there certainly hasn't been any significant movement in mortgage rates themselves. In fact, with the exception of a modest dip last Wednesday, mortgage rates have been essentially flat for the entire month of June . As we've discussed all week, being "flat" at current levels is a good thing considering lenders continue quoting conventional 30yr fixed rates in a range from 3.875% to 4.0% on top tier scenarios. Almost any borrower will have seen the exact same interest rate quote throughout June. Any detectable variation has come in the form of upfront costs. These...(read more)

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Diversity Not Destined to Dampen Homeownership

Posted To: MND NewsWire

The final installment of a series of working papers produced by the University of Southern California (USC), in partnership with Fannie Mae, looks at the decade-spanning 10-point plunge in the homeownership rate of young Americans. Homeownership has declined, starting even before the housing crisis, across nearly all age groups, but has been most notable for those aged 25 to 44. Prior papers in the series have looked at the role two factors play in increasing young-adult homebuying; parental financial support, and receipt of a bachelor's degree. A third paper found that the correlates of homeownership varied under different credit and economic conditions. The study attempted to simulate how future changes in the characteristics of young adults might affect changes in their homeownership rate...(read more)

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Barbara Jenkins
Loganville, GA 30052

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