Buyer Demand Provides Modest Boost to Builder Confidence

Posted To: MND NewsWire

New home builders seem to be slowly getting their mojo back. After recovering from the hit they took in the first days of the pandemic, they encountered labor shortages, supply chain issues, and rising material costs. The National Association of Home Builders (NAHB) said that builder confidence in the new home market, driven by strong buyer demand, ticked up slightly this month with the NAHB/Wells Fargo Housing Market Index (HMI) rising 1 point to 83. It is still down by 7 points from the all-time high it reached in November. Robert Dietz, NAHB’s chief economist, said builders continue to face challenges in order to add much needed new homes to the market. While mortgage interest rates have trended higher since February and home prices continue to outstrip inflation, housing demand appears…(read more)

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Buyer Demand Provides Modest Boost to Builder Confidence
Buyer Demand Provides Modest Boost to Builder Confidence

AE, Ops, Sales Jobs; Sec. Mktg., NOI, QC, Diversity Products; NewRez/Caliber Deal; Servicing Retention Study

Posted To: Pipeline Press

There are some clever people out there, especially when it comes to satisfying demand . Lenders know that mortgage pricing is a function of supply and demand. If one investor doesn’t want your non-owner loans, for example, some other investor will, whether it is a Wall Street private label or a non-QM investor. I mention this because the 25 leading U.S. banks curtailed loan holdings by 8% during the first quarter to $5.45 trillion, according to the Federal Reserve. Deposits rose 16%, to $10.13 trillion, giving the lowest loan-to-deposit ratio since data collection began 36 years ago. How about the supply & demand of odd properties? How does one obtain financing, or go to the bank, or have an appraisal done, on a lighthouse? Sea lovers should know that the historic Wolf Trap Lighthouse…(read more)

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AE, Ops, Sales Jobs; Sec. Mktg., NOI, QC, Diversity Products; NewRez/Caliber Deal; Servicing Retention Study
AE, Ops, Sales Jobs; Sec. Mktg., NOI, QC, Diversity Products; NewRez/Caliber Deal; Servicing Retention Study

Single-family construction growth to slow in 2021, says National Association of Home Builders

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CNBC's Diana Olick reports on builder sentiment and lumber prices.

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Single-family construction growth to slow in 2021, says National Association of Home Builders
Single-family construction growth to slow in 2021, says National Association of Home Builders

The 9am Bond Report – April 15, 2021

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The 9am Bond Report – April 15, 2021
The 9am Bond Report – April 15, 2021

MBS Day Ahead: Twilight Zone: Strong Econ Data = Big Bond Rally

Posted To: MBS Commentary

Heading into today, we expected the bond market to ignore potentially stronger Retail Sales data. Not only did bonds overlook the big beat (9.8 vs 5.9 f'cast), but they actually rallied in response. This was made all the more remarkable by the presence of 3 other better-than-expected economic reports that came out at the same time. So what's driving the gains? That's a long story, including technicals, corporate bonds, overseas tradeflows, and the general front-running of post-covid Treasury range. As far as overseas flows are concerned, much has been made of Japan's heavy participation in US debt. While the participation is nothing new, the narrative of "heavy selling" in March was quite prevalent in certain circles. The theory was that Japanese investors were drastically…(read more)

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MBS Day Ahead: Twilight Zone: Strong Econ Data = Big Bond Rally
MBS Day Ahead: Twilight Zone: Strong Econ Data = Big Bond Rally

Initial jobless claims come in at 576,000, lowest since early days of pandemic

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First-time filings for unemployment insurance plunged with the Labor Department reporting 576,000 new jobless claims for the week ended April 10. It's the lowest total since the early days of the Covid-19. CNBC's Rick Santelli and Steve Liesman report.

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Initial jobless claims come in at 576,000, lowest since early days of pandemic
Initial jobless claims come in at 576,000, lowest since early days of pandemic

Freddie Mac Sees Rates and Prices Leveling Off Through 2022; Purchases Overtake Refis; Applications Decline

Freddie Mac’s Economic and Housing Research Group finds a lot to like in the present economic environment. . The company’s quarterly forecast credits the increasing availability of COVID-19 vaccines and the easing of virus related restrictions, the passage of the American Rescue plan and its cash stimulus for households, as setting the stage for economic growth and sending consumer confidence to a post pandemic high in March. The labor market, while still needing to add 8.4 million jobs, put 916,000 on the books last month, the greatest gain since August. All in all, the report says conditions should remain generally favorable for the housing and mortgage market through 2022, although rising rates could provide headwinds that slow housing activity. The group predicts the 30-year fixed mortgage
Freddie Mac Sees Rates and Prices Leveling Off Through 2022; Purchases Overtake Refis; Applications Decline
Freddie Mac Sees Rates and Prices Leveling Off Through 2022; Purchases Overtake Refis; Applications Decline

MBS RECAP: Super Sideways Ahead of Retail Sales

Posted To: MBS Commentary

Super Sideways Ahead of Retail Sales Retail Sales used to be a big ticket report, but like so many others, has been punching well below its weight post-covid. That will change at some point. We could see vague hints of that change as early as tomorrow. Either way, those mere hints would be more exciting than anything that happened today. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Import Prices 1.2 vs 1.0 f'cast Export Prices 2.1 vs 1.0 f'cast Market Movement Recap 08:31 AM Calm, quiet overnight session. Minimal movement in Treasuries. Modest weakness. 10yr yields up 1.2bps at 1.632 and UMBS are perfectly unchanged. 12:13 PM Modest additional weakness for Treasuries, mostly dragged higher in yield by sharper weakness in European bonds. Technicals and corporate issuance are also…(read more)

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MBS RECAP: Super Sideways Ahead of Retail Sales
MBS RECAP: Super Sideways Ahead of Retail Sales

Freddie Mac Sees Rates and Prices Leveling Off Through 2022

Posted To: MND NewsWire

Freddie Mac’s Economic and Housing Research Group finds a lot to like in the present economic environment. . The company’s quarterly forecast credits the increasing availability of COVID-19 vaccines and the easing of virus related restrictions, the passage of the American Rescue plan and its cash stimulus for households, as setting the stage for economic growth and sending consumer confidence to a post pandemic high in March. The labor market, while still needing to add 8.4 million jobs, put 916,000 on the books last month, the greatest gain since August. All in all, the report says conditions should remain generally favorable for the housing and mortgage market through 2022, although rising rates could provide headwinds that slow housing activity. The group predicts the 30-year fixed mortgage…(read more)

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Freddie Mac Sees Rates and Prices Leveling Off Through 2022
Freddie Mac Sees Rates and Prices Leveling Off Through 2022

Purchases Now Account For a Majority of New Mortgages

Posted To: MND NewsWire

Black Knight has launched a new monthly report covering mortgage origination activity as gathered through its Optimal Blue loan product and pricing engine. The company says its Originations Market Monitor will publish a series of key indicators drawn from Optimal Blue data as well as secondary market insight from Black Knight’s hedging platforms. The initial report covers activity for March and shows that at month’s end the average 30-year conforming rate had increased by nearly 60 basis points over the course of the month to 3.34 percent. Still, this was 20 basis points below the rate at the same point in 2020 . Average rates by loan product are shown below. “Recent – and sharp – upward movements in interest rates have shifted the mortgage originations landscape very quickly ,” said Black…(read more)

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Purchases Now Account For a Majority of New Mortgages
Purchases Now Account For a Majority of New Mortgages