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Mortgage News Daily:
MBS Morning: Much Weaker Than Friday. Much Stronger Than Wednesday
11/29/2021 10:12 AM
Posted To: MBS CommentaryBonds are starting out the new week retaining a majority of last Friday's mega rally. The omicron-inspired gains were big enough that 10yr yields are almost 4bps higher than they were on Friday afternoon, but still roughly 12bps lower than they were on Wednesday. The range-find...
Pending Sales Shoot Up, Realtors View Increase as Defensive
11/29/2021 10:05 AM
Posted To: MND NewsWireThe number of signed contracts for the purchase of existing homes made another significant about face in October. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a measure of those new contracts, increased 7.5 percent from September to a reading of 125.2. T...
Branch Mgr., Non-QM, Encompass Jobs; Cash Out, Warehouse, Fulfillment Tools; Lenders" Capital Structuring News
11/29/2021 10:02 AM
Posted To: Pipeline PressWhile headlines move interest rates and countries are shutting their borders again, our industry awaits the official 2022 conforming loan limits after the FHFA’s HPI data is reported tomorrow. We’re reminded that Freddie and Fannie (and Ginnie for that ma...
Rates Move Swiftly Lower Due to New Covid Variant
11/26/2021 1:51 PM
Posted To: Mortgage Rate WatchJust when it looked like the current week would fizzle out on a negative note for rates, our least favorite market mover is back in the news. B.1.1.529 (designated now as "Omicron"), a new covid variant hit the market like a ton of bricks on Friday morning. 48 hours earlier, Google...
MBS RECAP: Covid Variant Causes Massive Market Reaction
11/26/2021 1:50 PM
Posted To: MBS CommentaryCovid Variant Causes Massive Market Reaction This morning it was B.1.1.529. By the afternoon, the WHO labeled it the Omicron variant. The market immediately took a "guilty until proven innocent" approach. Bonds surged significantly and stocks swooned. Holiday-light tradin...
MBS Morning: B.1.1.529 Day
11/26/2021 10:34 AM
Posted To: MBS CommentaryRemember July? Covid was a fading memory and the light was clearly visible at the end of the pandemic tunnel. Then came Delta. It served as a painful lesson about the potential impact of covid variants. Now we have B.1.1.529. Like the MU variant, it may prove to be no big deal. But...
Delinquencies Still Double Pre-Pandemic Rate
11/26/2021 9:40 AM
Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 15.7 percent in October compared to a 17.4 percent gain in September. The portfolio balance at the end of the period was $3.179 trillion compared to $3.137 trillion the prior month and $2.669 trillio...
Jumbo, Non-QM, ARM News; Rates (and Stocks) Plummet in Thinly-Traded Market on Covid Variant News
11/26/2021 9:39 AM
Posted To: Pipeline PressAs millions of Americans convince themselves that loading and unloading the dishwasher counts as exercise, while we are reminded that rates are impossible to predict when based on headlines risk like the COVID news out of South Africa, and while residential lenders (...
MBS RECAP: Fed Minutes Largely As Expected; No Major Drama For Bonds
11/24/2021 3:18 PM
Posted To: MBS CommentaryFed Minutes Largely As Expected; No Major Drama For Bonds After weathering the storm of this morning's data, the bond market turned its attention to the afternoon's release of the Minutes from the most recent Fed meeting. While there were comments about the potential to acc...
Refinance Share Increases as Borrowers Try to Outguess Fed
11/24/2021 12:51 PM
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) reports that the volume of loan applications submitted during the week ended November 19 increased slightly, continuing the weekly up and down pattern that has prevailed since the beginning of October. MBA says its Market Composite Index, a measure of that vol...
* national averages
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