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Mortgage Rates Slightly Higher
Mortgage Rates were steady to slightly lower yesterday even though prevailing trends in the bond market suggested caution. Today’s trading is a different story. Granted, there haven’t been any huge, dramatic moves, but today’s bond market weakness adds a bit of evidence for a more cautious approach. In general, rates are biding their time in a low, narrow range (just slightly higher than the all-time low range seen at the end of 2020) before making their next big move. That “next move” is to-be-determined. It will take guidance from things like economic data, fiscal stimulus, major covid-related news, and even the stock market. The average mortgage lender is generally offering the same rates as yesterday, but with modestly higher upfront costs (or lower lender credits). The range for purchases
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.
What are the Best and Worst Projects for DIY?
We love DIY, but let’s be honest…some projects should be left to the pros! Check out this list of the best and worst projects for DIY to help you decide which option is best for you.
The post What are the Best and Worst Projects for DIY? appeared first on Homes.com.
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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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Northwestern Mutual Appoints Laura Deaner to Chief Information Security Officer
Deaner is the first woman to hold this leadership position at Northwestern Mutual
Pending home sales fall slightly in December
The number of pending home sales fell slightly in December, according to data from the National Association of Realtors (NAR). The NAR’s Pending Home Sales Index (PHSI) declined 0.3% to 125.5 in December – the fourth consecutive month of decline after an unseasonal surge in August. Read more: NAR sees minor decline in pending home … [Read more…]