Refinance

Mortgage Rates Hold Steady to Start New Week

Posted To: Mortgage Rate Watch

Mortgage Rates did well last week, with the average lender getting very close to long-term lows by Wednesday. After that, however, volatility in the bond market caused some concern about an unfriendly shift in rate momentum. Today’s trading helps soothe those concerns as the bond market (which dictates rates) held inside a narrow range very close to Friday’s latest levels. The average mortgage lender offered rates that were at least as good as Friday’s with purchases still seeing 2.5-2.625% and no-cash-out refis in the 2.75-2.875% neighborhood (this assumes a top tier conventional 30yr fixed loan with at least 20% equity, 740+ credit, and no other negative loan level price adjustments). The bond market has a lot on its mind these days. A large scale battle is being waged between all of covid…(read more)

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UWM CEO Mat Ishbia to headline Spring Summit

United Wholesale Mortgage CEO Mat Ishbia will be featured in the keynote session at HousingWire’s Spring Summit on March 4. In a one-on-one discussion with HousingWire CEO Clayton Collins, Ishbia will discuss the way UWM responded to the COVID crisis, the decision to take his company public and the future of the mortgage broker model.

The post UWM CEO Mat Ishbia to headline Spring Summit appeared first on HousingWire.

Vegas mall that lost 95% of value might be just the beginning

Thirty-one of 39 shopping malls linked to a key commercial real estate credit derivatives index are currently impaired.

VA loan refinance scams and how to avoid them

Mortgage scams are real and they often veteran homeowners. Here are the most common VA loan refinance scams and how to avoid them.

Refi Demand Staying Strong Despite Rising Rates

Posted To: MND NewsWire

The current Mortgage Monitor from Black Knight looks at the recent small increases in mortgage rates and their potential impact on home sales. The company says that Treasury yields have been rising with the 10-year up nearly 0.25 percent just since the January 5 Georgia senatorial runoff. While the spread between it and the 30-year mortgage rates absorbed part of the increase , mortgages did subsequently rise by about 1/8 th of a point. The January spike wasn’t an isolated event, the 10-year yield had eased up 40 basis points over the last five months of 2020. “Should yields rise further in coming months, they may begin to impact 30-year rates more directly, although the Fed’s bond buying efforts are expected to insulate the mortgage market to some degree,” the report says. The 1/8 th point…(read more)

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New CFPB boss vows to get tough on military lending, pandemic relief laws

Dave Uejio, acting director of the Consumer Financial Protection Bureau, promised to protect veterans from predatory loans and to crack down on companies that improperly garnish stimulus checks or mistreat struggling borrowers.

Mortgage and refinance rates today, January 29, 2021

Today’s mortgage and refinance rates  Average mortgage rates inched up by the smallest measurable amount yesterday. So they’re immediately adjacent to the new all-time low set on Wednesday and equal […]

Differences Between Previous and Current FOMC Statements

Posted To: MBS Commentary

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. EconomicThe pace of the recovery in economic activity and employment havehas continuedmoderated toin recoverrecent butmonths, remainwith wellweakness belowconcentrated theirin levelsthe atsectors themost beginningadversely ofaffected by the yearpandemic. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households…(read more)

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