Refinance

New Home Sales Recover Slightly After Losses, Still up 15% Annually

Posted To: MND NewsWire

New homes sales managed a small increase in December following three months of losses including a substantial downturn in November. The U.S. Census Bureau and the Department of Housing and Urban Development reported that sales of newly built homes were at a seasonally adjusted annual rate of 842,000 units. This is a 1.6 percent increase from the downward revision of the November estimate. The revision downgraded those sales from an annual rate of 841,000, a 11.0 percent decline, to 829,000. The December rate of sales represents 15.2 percent year-over-year growth. Analysts had expected a better recovery from the November loss. Those polled by Econoday had predicted sales would be in the range of 822,000 to 934,000. Their consensus was 871,000 units. On a non-adjusted basis there were 55,000…(read more)

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Forbearance rate left unchanged as exits slow

The U.S. forbearance rate remained unchanged from the week prior at 5.38%, according to a survey from the Mortgage Bankers Association on Monday.

The post Forbearance rate left unchanged as exits slow appeared first on HousingWire.

Should you buy a house sight unseen? Here’s what you need to know

Buying a house sight unseen can give you an edge in a competitive market. But there are risks that come with sight-unseen homes. Here’s what to know.

MBS Week Ahead: Lots of Data This Week, But Is It Enough To Matter?

Posted To: MBS Commentary

Bonds find themselves in an interesting position heading into February. On the one hand, there's a well-established tepid recovery narrative that coincides with gradually rising 10yr yields for the past 6 months and, more recently, mortgage rates that begun to take notice. On the other hand, several of the inputs driving those trends are open to criticism, push-back, or other intervening factors that may collectively say "not so fast" to the rising rate trend. Econ data can bat for either team in this regard and this week brings the month's biggest reports with ISM PMIs and the big jobs report (NFP). A unified message from the data will likely matter to the bond market, but it might be hard to tell unless those "not so fast" factors are staying silent. For the sake…(read more)

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FHFA appoints general counsel to create “world-class regulator”

The Federal Housing Finance Agency appointed Clinton Jones as its new general counsel, saying this was the next step in turning the FHFA into a world-class regulator.

The post FHFA appoints general counsel to create “world-class regulator” appeared first on HousingWire.

Slowing mortgage forbearance improvement sets up recovery challenges

The CARES Act-related forbearances could be “lulling us into a false sense of security” as 12-month expirations approach, according to Black Knight.

Where to find bank statement loans for self-employed mortgage borrowers

Bank statement loans can help self-employed mortgage borrowers qualify for a bigger home loan. Here’s how to find a safe, low-rate bank statement loan.