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Mortgage News Daily

MBS RECAP: Slow Session For Bonds Despite Stock Record

Posted To: MBS Commentary

The S&P 500 hit a record intraday high today (just over 2873.22 compared to the previous high of 2872.87). In other words, it wasn't a triumphant surge. Moreover, it served as a ceiling, with closing levels being nearly 10 points lower. Bonds didn't pay too much attention, but they definitely took some directional cues from today's stock movement, which began at the start of the overnight session. By 8:20am, stocks had dragged bonds into moderately weaker territory. The CME open provided a bump in liquidity that helped bonds recover a portion of their overnight losses. But the 9:30am NYSE open took things right back in the other direction, making for the highest yields of the day just after 10am. 10yr yields ended the day up 2.5bps at 2.844 and Fannie 4.0 MBS lost less than...(read more)

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Mortgage Rates Little-Changed Ahead of Fed Minutes

Posted To: Mortgage Rate Watch

Mortgage rates were generally unchanged again today although several lenders were in just slightly better territory. That makes this the 8th straight business day with almost no change in mortgage rates. During that time, underlying bond markets have improved slightly. Normally, those improvements would translate to modest improvements in rates, but lenders are waiting for a bigger breakout that, thus far, has failed to materialize. If there is an event on the near-term horizon that will prompt such a breakout, it's not clear what it will be. Tomorrow brings the occasionally-important Fed Minutes release. This isn't a new policy announcement, nor is it a venue for the Fed to make any changes to rates or bond buying protocol. Rather, it's just a detailed account of the Fed meeting that took...(read more)

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Treasury Weighs in With Mortgage Industry Recommendations

Posted To: MND NewsWire

The Treasury Department has recommended some sweeping changes for consumer financial services including some directly impacting the mortgage industry . A new report recognizes the growing importance of non-depository institutions in the mortgage system, attributing it in part to various factors that have raised the cost of doing business such as the False Claims Act enforcement and the costs of default mortgage servicing. The report also acknowledges that many among the growing ranks of non-bank mortgage originators have been early adopters of technology that has speeded up the mortgage lending process. As indicated by the title of report, Nonbank Financials, Fintech, and Innovation, many of its recommendations are focused on the area of technology. The report notes that financial and digital...(read more)

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Barbara Jenkins
Loganville, GA 30052

Direct: 678-639-0700
Mobile/Text: 404-401-0569

Solid Source Realty
Corporate office
10900 Crabapple Road, Roswell GA 30019
Office: 770-475-1130 Ext 4769

Email: barbara@thehouseofsold.com

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