Refinance

MBS RECAP: MBS Outperform Treasuries Thank to Light Supply at Fed Buying Operation

Posted To: MBS Commentary

MBS Outperform Treasuries Thank to Light Supply at Fed Buying Operation Treasuries didn't gain any new ground today, but it's a bit of a victory to simply hold below the recent floor at 1.075%. Moreover, MBS outperformed after sellers offered up very light supply in the Fed's 30yr Fixed UMBS buying operation today. By the close, UMBS 1.5 and 2.0 coupons were both up at least an eighth of a point while Treasuries weren't any better than unchanged. All in all, it was an extremely calm trading session. Durable Goods data in the morning tomorrow followed by a Fed Announcement at 2pm ET. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Case Shiller Home Prices (y/y) 9.1 vs 8.6 f'cast, 8.0 prev FHFA Home Prices (y/y) 11.0 vs 10.3 prev Consumer…(read more)

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

Industry mourns death of PennyMac’s Stanford Kurland

PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. Kurland had also been battling brain cancer.

The post Industry mourns death of PennyMac’s Stanford Kurland appeared first on HousingWire.

Mortgage and refinance rates today, January 22, 2021

Today’s mortgage and refinance rates  Average mortgage rates inched lower yesterday. The fall was the smallest that can be measured. But was welcome nonetheless. First thing this morning, key markets […]

Mortgage Rates Mostly Recover After Starting The Day Higher

Mortgage rates were mixed to slightly higher today, depending on the lender. “Higher” is a relative term, in this case as the average loan seeker is unlikely to see much of a difference between yesterday’s quotes and today’s. Even then, the changes would almost certainly be in the form of upfront costs (or lender credits) rather than to the interest rate itself. For the sake of thoroughness and accuracy, keep in mind there are really two different kinds of rate when it comes to mortgages. The ” note rate ” is unsurprisingly the rate found at the top of your mortgage note. This is the rate that’s applied to the principal balance of your loan in order to determine your principal and interest payment. The other rate would be the APR (annual percentage rate), which factors in all of the upfront

MBS RECAP: Strong Move in Treasuries But MBS Underperform (Significantly)

Posted To: MBS Commentary

Strong Move in Treasuries But MBS Underperform (Significantly) While much of the world of finance and institutional investment seemed to be preoccupied with day trading some truly epic ridiculousness via Game Stop, the bond market was doing a few interesting things of its own. Treasuries jumped out to an early lead with help from Europe, but several big trades helped yields move even lower after the 10yr broke an important floor at 1.075%. MBS had a completely different day with a significant amount of underperformance during and after the Fed's final buying operation of the day. At 4pm, UMBS 1.5 coupons were roughly unchanged on the day while 10yr Treasuries were nearly 5bps lower in yield! Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement…(read more)

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

SitusAMC acquires Assimilate Solutions

Technology firm SitusAMC announced its acquisition of mortgage and title outsourcer Assimilate Solutions on Monday – it’s second acquisition in January.

The post SitusAMC acquires Assimilate Solutions appeared first on HousingWire.

When Are Mortgage Rates Lowest?

We’re all looking for an angle, especially if it’ll save us some money. Whether it’s a stock market trend, a home price trend, or a mortgage rate trend, someone always claims to have unlocked the code. Unfortunately, it’s usually all nonsense, or predicated on the belief that what happened in the past will occur again [&hellip

The post When Are Mortgage Rates Lowest? first appeared on The Truth About Mortgage.

Mortgage and refinance rates today, January 15, 2021

Today’s mortgage and refinance rates  Average mortgage rates edged lower yesterday. But don’t get too excited. Wednesday and Thursday’s combined falls only just cancel out Tuesday’s rise. Still, these reductions […]