Refinance

MBS Day Ahead: Is This The Bounce We’ve Been Looking For?

Posted To: MBS Commentary

After 8 straight days with yields closing higher than they opened, bonds are starting out in stronger territory with a chance to reverse the curse. The longer those losing streaks are, the more certain we can be of seeing a corrective green day. Today has every possibility of becoming that day. In fact, as of right now, it already is. But much like that old Jedi dude and the droids, this may not be the bounce we've been looking for. While a rally today would indeed fulfill the increasingly dire need for a technical correction in bonds, the rally would be more meaningful if it coincided with tomorrow's 10yr Treasury auction as opposed to today's 3yr. Why? 3yr Treasuries are a fundamentally different part of the bond market–one with far less bearing on mortgages, and simply not very…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Average closing costs in 2021 and how to keep yours low

Complete guide to mortgage and refinance closing costs, including average closing costs and a full list of what’s included in your fees.

Low Rates, COVID are Motivating Prospective Home Buyers

Posted To: MND NewsWire

A high percentage of those who told the National Association of Home Builders (NAHB) late last year that they were thinking of buying a home have now turned thought into action. Rose Quint writes in the NAHB Eye on Housing blog that 15 percent of those queried in its 4 th Quarter 2020 Housing Trends survey said they were considering a purchase and now 56 percent of them are actively looking . A year ago, only 43 percent of those considering buying had shifted into gear. Quint says this is the fourth consecutive year-over-year rise in the share of prospective buyers who have become active buyers. She identified several possible reasons for the most recent uptick; fear of missing out on low interest rates , a need for more space due to COVID-19, and a desire to move to outlying suburbs. Most…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Fannie Mae’s 2020 earnings fall due to COVID-related credit expenses

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

Mortgage and refinance rates today, February 12, 2021

Today’s mortgage and refinance rates  Average mortgage rates nudged higher yesterday, neatly canceling out Wednesday’s fall. So they remain within their ualow range. So far this morning, it’s looking as […]

MBS RECAP: Friendly Bounce May Already Have Run Its Course

Posted To: MBS Commentary

Friendly Bounce May Already Have Run Its Course Friendly bounces after strong selling sprees are slightly more likely to play out over 2-day time frames. That was the risk heading into today after Tuesday and Wednesday saw Treasury yields close lower for first back-to-back days since mid-January. And as far as Treasuries are concerned, the 2-day rule is in effect. Either that, or we seeing extremely cautious trading ahead of the 3-day weekend. Thankfully MBS outperformed, but most mortgage lenders priced defensively nonetheless. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 793k vs 757k f'cast 812k prev Market Movement Recap 08:42 AM Very light trading overnight with Asian markets closed for lunar new year. Slightly weaker by the start of European hours and flat since…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.