mortgage market

Mortgage and refinance rates today, February 5, 2021

Today’s mortgage and refinance rates  Average mortgage rates edged higher yet again yesterday. Of the last six working days, they’ve risen on five and fallen on just one. Still, each […]

A purchase mortgage is an opportunity, not an obstacle

“It’s time for us to stop treating the purchase mortgage as some kind of market impediment or red flag for our forecasts,” says Chairman of JJAM Financial and former Ginnie Mae President Joseph Murin

Rates Under Pressure Despite Weak Jobs Report

Economic data is traditionally one of the key contributors to interest rate movement. Of the regularly-scheduled reports, none has more market-moving street cred than The Employment Situation–otherwise known as “the jobs report” or simply NFP (due to its headline component: Non-Farm Payrolls). The relationship between econ data and rates can wax and wane. Covid definitely threw a wrench in the works, and economists still don’t know exactly how things will shake out. In general, the market is trading on the assumption that things continue to improve even if the data isn’t making that case today. In fact, today’s jobs report specifically suggests something quite different . The economy only created 49k new jobs in January, and the last few reports were revised much lower to boot. Taken together

MBS Day Ahead: Another Rocky Start Fans Flames of Rising Rate Trend

Posted To: MBS Commentary

Stop me if you've heard this one before, but the bond market is in the midst of a big-picture correction from the all-time lows seen in the middle of 2020. The correction has taken the form of modestly-sloped 'trend channel' (parallel lines marking higher highs and higher lows in Treasury yields). A week ago today, yields bounced at the lower end of that trend channel, thus introducing the risk of a move back to the other side (the higher side!). Resilience on Friday and Monday offered hope that yields could find a lower ceiling before making such a move, but based on bond trading within the past 48 hours, the risks remain. Hope remains as well, due to the fact that yields are still technically trying to hold under the 1.125% level which has provided support on 9 of the past 17…(read more)

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Mortgage and refinance rates today, February 4, 2021

Today’s mortgage and refinance rates  Average mortgage rates inched higher again yesterday. Although that was the latest in a recent series of increases, those rates are still nearer to the […]

Mortgage and refinance rates today, February 3, 2021

Today’s mortgage and refinance rates  Average mortgage rates edged higher yesterday. But, of course, they remain within their uberlow range. First thing, it’s looking as if mortgage rates might hold […]

Mortgage and refinance rates today, February 2, 2021

Today’s mortgage and refinance rates  Average mortgage rates inched lower yesterday, but only by the smallest measurable amount. Still, they’re only a bit higher than the all-time low set last […]

Mortgage rates continue to stay low at 2.73%

The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%, according to Freddie Mac.

The post Mortgage rates continue to stay low at 2.73% appeared first on HousingWire.

InterFirst Mortgage Review: A Private Equity-Backed Lender Looking to Grow

Today we’ll examine “InterFirst Mortgage,” which bills itself as a private equity-backed mortgage originator that is motivated to grow. Their game plan is to acquire consumer-direct call centers and “strategically located licensed conforming/government wholesale mortgage operations” throughout the United States using their available capital. While they briefly placed operations on hold in 2017 in light [&hellip

The post InterFirst Mortgage Review: A Private Equity-Backed Lender Looking to Grow first appeared on The Truth About Mortgage.