LegalShield’s network received fewer legal services requests regarding bankruptcy, debt collections, foreclosures and evictions in January – pushing down consumer stress and foreclosure indices. “This decreased level of requests for legal advice and support may well reverse with lower future stimulus support and a cessation of eviction moratoriums,” said LegalShield CEO Jeff Bell. Federal stimulus … [Read more…]
Today’s mortgage and refinance rates Average mortgage rates nudged higher on Friday. It was a bad week for these rates. And they’re now hovering around the 3% mark even for […]
Posted To: MBS Commentary
We talked about momentum indicators being 'oversold' yesterday–a possible prelude to a friendly bounce in bonds. If that narrative is going to play out, it's running out of time very quickly. There was some potential for a positive outcome early in the overnight session, but as the trading day progresses, bonds are moving steadily back toward their weakest levels. Those with the strongest stomachs can still hold out hope that 10yr yields have temporarily topped out somewhere under 1.33%, but all bets are off if that ceiling breaks today (and we're only 2bps away at 9am). If the pace of bond market weakness has caught you off guard in 2021, you're not alone. Many analysts and traders are struggling to justify current levels. In their defense, it's very easy to get caught…(read more)
The COVID-19 pandemic has accelerated a longer-term trend of separating talent from location. In the past, economic development was defined by incentives for buildings and infrastructure, but this is starting to change. HW+ Premium Content
The post COVID accelerated migration trends, but is it sustainable? appeared first on HousingWire.
CoStar Group has integrated CMBS loan and property data with its commercial real estate (CRE) information platform. The CRE data firm said that CMBS information, which includes regularly reported financials on loan performance and detailed property operating statements, are now available in CoStar’s detailed building records. When fully rolled out, the new CMBS dataset adds … [Read more…]
he Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.
Posted To: MBS Commentary
Looking For Silver Linings Despite Falling Sky After a huge day of snowball selling yesterday, bonds started out in weaker territory today. Hugely strong Retail Sales data and sharply higher inflation told rates to keep on rising, but they quickly refused. Several hours later, a decidedly weak 20yr bond auction made the same suggestion (i.e. higher rates), but yields continued holding modest gains. As far as days with intraday yields hitting their highest levels in almost a year are concerned, that's about as much resilience as we could hope for. Tomorrow will be critical in confirming or rejecting today's defiant show of support. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Retail Sales 5.3 vs 1.1 f'cast, -1.0 prev Producer Prices (Inflation, y/y) 2.0 vs 1.1 f'cast,…(read more)
Merchants Capital originated roughly $4.7 billion loans in 2020, an approximate 106% rise in the mortgage banking firm’s total year-over-year production volume. According to its Press release, nearly half of the loans were dedicated to supporting affordable housing preservation and development across the country. Dwayne George, executive vice president and national head of production at … [Read more…]
Today, the mortgage players who most actively hedged â Fannie and Freddie, real estate investment trusts and large bank servicers â have significantly reduced their need to to do so, analysts said.
Posted To: MND NewsWire
Existing home sales started the 2021 with a small increase from the December sale levels, the second consecutive monthly gain. The National Association of Realtors® (NAR) said transactions that include pre-owned single-family homes, townhomes, condominiums, and co-ops, increased 0.6 percent in January to a seasonally adjusted annual rate of 6.69 million units compared to 6.76 million in December. The month’s results are up 23.7 percent from the annual rate of 5.41 million sales in January 2020. Existing home sales have increased in seven of the last eight months, even though pending sales, generally considered a leading indicator for the following one or two existing sales reports, have posted four straight monthly losses. Analysts surveyed by Econoday had expected a slight pull-back in…(read more)