Today’s mortgage and refinance rates Average mortgage rates rose yesterday. And the week — which had promisingly seen a new all-time low — ended up going nowhere. Because those averages […]
Posted To: MBS Commentary
Bonds have rallied or held steady every day this week and the net effect is a visit to the 1.0% psychological floor for 10yr yields. Psychology aside, the floor of the actual trend channel (a series of higher lows and higher highs that connect to form an ascending, parallel boundary for yields since August) is closer to 0.98%. Today brings the first look at Q4 GDP for 2020. While GDP isn't typically a big market mover, this one could provide some food for thought as to how the economy digested the biggest short-term shock in modern economic history. Jobless Claims data is out at the same time and is expected to drop just a bit from 900k to 875k. Later in the morning, we'll get the final tally of 2020's New Home Sales. Finally, the week's last Treasury auction hits at 1pm (these…(read more)
Homespire Mortgage has promoted Listy Limon (pictured), formerly regional manager for the Southwest region, to vice president of national production. The 20-year mortgage industry veteran joined Homespire in 2019 and has been instrumental in the company’s growth in the Southwest region. In her new role, Limon will execute Homespire’s sales production strategy and drive its … [Read more…]
Open Mortgage, Aces Quality Management, Verity Global Solutions, Cherry Creek Mortgage and InterLinc Mortgage Services all announced hirings and promotions.
Today’s mortgage and refinance rates Average mortgage rates fell more than expected last Friday. And they’re now back within striking distance of the most recent all-time low, set early this […]
After spiking in early January, interest rates returned to near-all-time-low levels by the middle of the week. By the end, however, the market began to flash a warning about more volatility ahead. The warning is fairly simple. It has to do with a pattern that’s been repeating in the bond market (the key ingredient in determining rates). The pattern is technically referred to as a “trend channel,” which is just a fancy way of saying that rates are steadily rising or falling in a relatively regular way. In the current case, they’ve been rising since August. Rates tend to fall when the economic outlook is downbeat or uncertain. As such, it makes sense to see volatility and all-time lows during the first phase of the pandemic followed by gradual healing in the 2nd half of the year. Gradual healing
Posted To: MBS Commentary
With 10yr yields breaking the 1.075% technical floor on Monday, the bond market added evidence to the case for a move back to 1.0%. Today's early gains make the evidence nearly overwhelming with yields less than half a basis point away at times. With the Fed coming up this afternoon, it would only take a mildly stronger reaction to break the 1.0% floor . What happens after a break below 1.0% though? The prevailing trend implies heavier resistance around 0.97-0.98%. Specifically, the lower boundary of the "trend channel" (yellow lines below) runs through .98 today. It would require another fairly decent bond rally to get there, but it's not outside the realm of possibility. Such a move could be a blessing or a curse. If the trend keeps doing what it's been doing since August…(read more)
Wanting to take advantage of record low mortgage rates to gain more space in a pandemic, consumers didnât follow traditional seasonal buying patterns in 2020. That dynamic is driving home sales this year too, which is why weâre hosting our virtual Spring Summit focused on The Year-Round Purchase Market.
The post HousingWire launches Spring Summit on March 4 appeared first on HousingWire.
Single-family rental (SFR) developer AHV Communities has announced its largest development pipeline to date: 1,500 rental units and over $500 million in committed capital. While a casual observer might see this volume of business as a product of the surging popularity of the SFR market, AHV CEO Mark Wolf sees it as the natural progression … [Read more…]
The industry legend turned around a struggling Minneapolis company and even escaped a kidnapping to build the firm that is now the nationâs fifth-largest bank.