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Mortgage Rates Haven"t Moved Much Since Fed Week | ||
1/2/2025 3:40 PM | ||
The last time mortgage rates were moving with any sense of urgency was in the days surround the Fed"s rate cut on December 18th. Incidentally, that movement was sharply higher, which is just as likely as any other outcome when the Fed is cutting rates for a variety of reasons. The rate rise leveled off by the end of Fed week with the average lende...Read More | ||
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Uneventful Start to 2025 | ||
1/2/2025 3:38 PM | ||
Uneventful Start to 2025 Bonds began the day in moderately stronger territory before losing ground after the Jobless Claims data. AM selling stalled out shortly after bonds hit negative territory and settled sideways to slightly stronger in the afternoon. While that constitutes a reasonably amoun...Read More | ||
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ICE Experience; Freddie and Fannie Agency Updates; Apps Tumble; Profit Without Servicing? | ||
1/2/2025 10:56 AM | ||
Hello 2025, goodbye 2024. It’s been 50 years since Jaws or Godfather Part 2 were on the screens. A half a century since Kung Fu Fighting first graced our airwaves. Despite the turn of the calendar page, the issues bond markets, lenders, and vendors face are the same. “Rob, what’s the word on the street about companies (lenders and/or servicers) mak...Read More | ||
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Stronger Start Despite Some Selling After Data | ||
1/2/2025 9:11 AM | ||
Bonds were steadily stronger overnight, both in Asia and Europe. 10yr yields and MBS had both fully erased Tuesday"s losses within the first 30 minutes of domestic trading. That"s when Jobless Claims data came out. It was only sligh.....Read More | ||
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Year-End Trading. No Big Deal | ||
12/31/2024 1:20 PM | ||
Year-End Trading. No Big Deal Bonds started stronger but lost ground quickly and inexplicably starting around 10:30am ET. This was a classic example of year-end trading causing random volatility. It had nothing to do with news, data, or any other typical motivations. Bonds are now closed for the...Read More | ||
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Mortgage Rates Slightly Higher as Markets Close Early | ||
12/31/2024 12:39 PM | ||
Major holidays typically involve a full day market closure along with an "early close" on an adjacent day. This matters to rates because mortgage lenders decide what they can offer based on trading levels in the bond market. Mortgage lenders also need a certain amount of activity in the market if they hope to set competitive rates. As ...Read More | ||
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NY Eve "24: Demographics of Wealth; Thought Leadership on Pipeline Pricing; a Primer on Lock Extensions | ||
12/31/2024 10:47 AM | ||
Besides being enthralled with Tiger King and My Octopus Teacher four years ago, what do AL, CA, CO, CT, FL, GA, MD, MA, NJ, NY, NM, NC, RI, SC, TN, VT, and VA have in common? First-cousin marriage remains completely legal in these 17 states. Demographics are of great interest to lenders and originators. As of 2024, there were 65 million Baby Boomer...Read More | ||
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A Very Easy Explanation For MBS Underperformance | ||
12/31/2024 9:01 AM | ||
The day begins with MBS in slightly weaker territory while Treasuries are slightly stronger. The discrepancy isn"t really big enough to merit any urgent explanation, but either way, there are several. First off, there was a group of after-the-bell trades in MBS last night (around 5:02pm) that set artificially high "previous close" price...Read More | ||
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Feel Free to Enjoy The Rally, But Don"t Read Too Much Into It | ||
12/30/2024 2:56 PM | ||
Feel Free to Enjoy The Rally, But Don"t Read Too Much Into It Bonds improved somewhat significantly in overnight trading and continued into stronger territory through 10:20am ET. This morning"s Chicago PMI data was weak enough to deserve consideration as a catalyst for bond buying except for the fact ...Read More | ||
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Mortgage Rates Modestly Lower to Begin Another Holiday-Shortened Week | ||
12/30/2024 2:31 PM | ||
Because mortgage rates are determined by trading levels in the bond market, when the market is closed, lenders don"t update their rate offerings. As such, there were no rate updates last Wednesday for the Christmas holiday and the same will be true this week for New Year"s Day. In addition, it"s common practice for the bond market to close e...Read More | ||
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