Refinance

Mortgage and refinance rates today, February 5, 2021

Today’s mortgage and refinance rates  Average mortgage rates edged higher yet again yesterday. Of the last six working days, they’ve risen on five and fallen on just one. Still, each […]

Expirations Drive First Decline in Forbearances in Three Weeks

Posted To: MND NewsWire

Black Knight says the number of loans in forbearance saw a significant decline over the past week , driven, as the company had said to expect, by plans expiring at the end of January. There was a net decrease of 45,000 active plans (-1.6 percent), the first improvement in three weeks. There are still 47,000 plans which were scheduled to expire on January 31 which are currently being reviewed by servicers for an extension or removal. This may mean additional modest declines over the next few days. The greatest improvement was to the FHA and VA loan numbers. Those combined portfolios shrunk by 2 percent or 23,000 loans. Twelve thousand loans in the Fannie Mae and Freddie Mac (GSE) portfolios left forbearance, a -1.3 percent change. The total forbearances serviced for bank portfolios and private…(read more)

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

Guaranteed Rate acquires DTC lender Owning Corporation

Fresh off its acquisition of Stearns, Guaranteed Rate has picked up Owning Corporation, a direct-to-consumer mortgage lender.

The post Guaranteed Rate acquires DTC lender Owning Corporation appeared first on HousingWire.

A purchase mortgage is an opportunity, not an obstacle

“It’s time for us to stop treating the purchase mortgage as some kind of market impediment or red flag for our forecasts,” says Chairman of JJAM Financial and former Ginnie Mae President Joseph Murin

Rates Under Pressure Despite Weak Jobs Report

Economic data is traditionally one of the key contributors to interest rate movement. Of the regularly-scheduled reports, none has more market-moving street cred than The Employment Situation–otherwise known as “the jobs report” or simply NFP (due to its headline component: Non-Farm Payrolls). The relationship between econ data and rates can wax and wane. Covid definitely threw a wrench in the works, and economists still don’t know exactly how things will shake out. In general, the market is trading on the assumption that things continue to improve even if the data isn’t making that case today. In fact, today’s jobs report specifically suggests something quite different . The economy only created 49k new jobs in January, and the last few reports were revised much lower to boot. Taken together

MBS Day Ahead: Another Rocky Start Fans Flames of Rising Rate Trend

Posted To: MBS Commentary

Stop me if you've heard this one before, but the bond market is in the midst of a big-picture correction from the all-time lows seen in the middle of 2020. The correction has taken the form of modestly-sloped 'trend channel' (parallel lines marking higher highs and higher lows in Treasury yields). A week ago today, yields bounced at the lower end of that trend channel, thus introducing the risk of a move back to the other side (the higher side!). Resilience on Friday and Monday offered hope that yields could find a lower ceiling before making such a move, but based on bond trading within the past 48 hours, the risks remain. Hope remains as well, due to the fact that yields are still technically trying to hold under the 1.125% level which has provided support on 9 of the past 17…(read more)

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

Ed DeMarco on Biden’s plans for forbearance

Ed DeMarco, Housing Policy Council president and former director of the FHFA, talks about the Biden administration’s plans for homeowners coming out of forbearance and its focus moving forward.

The post Ed DeMarco on Biden’s plans for forbearance appeared first on HousingWire.

Mortgage and refinance rates today, February 4, 2021

Today’s mortgage and refinance rates  Average mortgage rates inched higher again yesterday. Although that was the latest in a recent series of increases, those rates are still nearer to the […]