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Rates Slightly Lower to End 2016; United Shore Settlement

Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8th was the last time rates were lower. As of yesterday, 4.25% regained the status of the “most prevalent” conventional 30yr fixed quote on top tier scenarios. Quite […]

Mortgage Rates Slightly Lower to End 2016

Posted To: Mortgage Rate Watch Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8th was the last time rates were lower. As of yesterday, 4.25% regained the status of the “most prevalent” conventional 30yr fixed quote […]

'It's inevitable': OPEC will cheat on output cuts, says analyst

[View:http://video.cnbc.com/gallery/?video=3000580099&__source=mnd|news|video|&par=mnd] Clearview Energy Partners Managing Director Kevin Book said it is only a matter of time before OPEC members exceed agreed-upon limits on oil production. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. 'It's inevitable': OPEC will cheat on output cuts, […]

Chicago PMI (Dec.) 54.6 vs. 57.6 (Nov.)

[View:http://video.cnbc.com/gallery/?video=3000580079&__source=mnd|news|video|&par=mnd] CNBC's Rick Santelli reports the latest read on the Chicago Purchasing Managers Index. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Chicago PMI (Dec.) 54.6 vs. 57.6 (Nov.) Chicago PMI (Dec.) 54.6 vs. 57.6 (Nov.)

The year of the smart home

[View:http://video.cnbc.com/gallery/?video=3000580070&__source=mnd|news|video|&par=mnd] CNBC's Diana Olick reports on the trend of connected homes as the technology evolves. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. The year of the smart home The year of the smart home

Updates on 2nds; Pricing/Fee Changes; United Shore Settles with DOJ on FHA violations

Posted To: Pipeline Press Overheard: “I have a feeling that my ‘check liver’ light may come on this weekend.” I guess drinking helps some people forget, and it’s been a rough week for celebrity deaths with George Michael, Carrie Fisher, Debbie Reynolds, and now…Pan Pan. The world’s oldest male panda has died in China aged […]

MBS Day Ahead: (And Maybe "The Recap" Too): Limited Data, Early Close, No Major Expectations

Posted To: MBS Commentary NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerations. I'll still be doing that, […]

Most Markets Back to Historical Norms; Rates Set to End Year With Glimmer of Hope; PHH Servicing Sale

Mortgage rates moved lower today , somewhat significantly, depending on the lender. In many cases, quotes are an eighth of a point lower compared to Tuesday morning. Some lenders made the move yesterday. For others, today did the trick. In both cases, the “effective rate” (a hypothetical rate that accounts for lender-imposed closing costs) fell […]

MBS RECAP: Another Strong Day, But Don't Get Too Excited

Posted To: MBS Commentary Bonds made solid gains again today, both before and after another strong Treasury auction. Fannie 3.5s picked up more than a quarter of a point and 10yr yields hit the lowest levels since Fed day . Days like today are frustrating because they're positive and meaningful for the origination community (those […]

Cashin: Horrendously low volume

[View:http://video.cnbc.com/gallery/?video=3000579707&__source=mnd|news|video|&par=mnd] CNBC's Bob Pisani and Art Cashin, of UBS, discuss the factors impacting the market today. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Cashin: Horrendously low volume Cashin: Horrendously low volume

Rates Set to End Year With Glimmer of Hope

Posted To: Mortgage Rate Watch Mortgage rates moved lower today , somewhat significantly, depending on the lender. In many cases, quotes are an eighth of a point lower compared to Tuesday morning. Some lenders made the move yesterday. For others, today did the trick. In both cases, the “effective rate” (a hypothetical rate that accounts […]

Majority of Housing Markets Have Recovered to Historical Norms

Posted To: MND NewsWire When Freddie Mac introduced its Multi-Indicator Market Index (MiMi) in March 2014 only 11 of the 50 states plus the District of Columbia were deemed stable and in range of their historic benchmarks. That was also the case for only four of the 50 leading metropolitan areas. Further, the index itself […]

PHH Sheds More Servicing; Flood Insurance News; Jumbo, Conforming, and Appraisal Changes

Posted To: Pipeline Press New Residential Investment Corp. (NYSE: NRZ) announced it has entered into an agreement, through its wholly-owned subsidiary New Residential Mortgage LLC (“NRM”), to purchase approximately $72 billion UPB (480,000 loans) of seasoned Agency and private-label mortgage servicing rights (“MSRs”) from PHH Mortgage Corporation . The total purchase price is approximately $612 […]

Deciphering Fed and market signals: Pros

[View:http://video.cnbc.com/gallery/?video=3000579740&__source=mnd|news|video|&par=mnd] Bruce Kasman, JPMorgan Chase Bank, weighs in on Federal Reserve policy and whether to expect hawkish rate moves in 2017. And Lou Brien, DRW Trading Group, provides his outlook on the markets. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. […]

Time to buy down your mortgage rate?

[View:http://video.cnbc.com/gallery/?video=3000579750&__source=mnd|news|video|&par=mnd] CNBC's Diana Olick takes a look at whether home buyers should consider buying down their mortgage rates as interest rates begin to rise. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Time to buy down your mortgage rate? Time to […]

MBS Day Ahead: Limited Data, Final Auction, and Month/Year-End Buying Potential

Posted To: MBS Commentary NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerations. I'll still be doing that, […]

Rates at 2 Week Lows; Pending Sales Reflect Downbeat Buyers; Lender/Realtor Connections

Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn’t result in many lenders offering mid-day improvements in rate sheets. Today, however, multiple lenders put out positive reprices after a well-received Treasury auction indicated strong investor demand in the bond market (higher demand […]

MBS RECAP: Exceptionally Strong Auction Sparks Moderate Rally For Bonds

Posted To: MBS Commentary Today was all about the afternoon's 5yr Treasury note auction, which garnered the best demand in more than 2 years and the highest percentage of indirect bidders (which generally indicates foreign demand) ever! 10yr yields were already slightly lower on the day, but they dropped another 5bps in short order. Fannie […]

The best and worst celebrity neighbors, according to Zillow

[View:http://video.cnbc.com/gallery/?video=3000579572&__source=mnd|news|video|&par=mnd] Zillow announces the people's choice for the absolute worst celebrity neighbor. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. The best and worst celebrity neighbors, according to Zillow The best and worst celebrity neighbors, according to Zillow

House flipping returns in force

[View:http://video.cnbc.com/gallery/?video=3000579528&__source=mnd|news|video|&par=mnd] Daren Blomquist, RealtyTrac vice president, discusses the return of house flipping, as the market for loans is expected to reach about $48 billion in sales volume next year. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. House flipping returns in […]

Mortgage Rates Lowest in 2 Weeks After Treasury Auction

Posted To: Mortgage Rate Watch Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn’t result in many lenders offering mid-day improvements in rate sheets. Today, however, multiple lenders put out positive reprices after a well-received Treasury auction indicated strong investor demand in […]

Cashin: Thin markets and light trading

[View:http://video.cnbc.com/gallery/?video=3000579437&__source=mnd|news|video|&par=mnd] CNBC's Bob Pisani and Art Cashin of UBS discuss the current sentiment in the markets. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Cashin: Thin markets and light trading Cashin: Thin markets and light trading

Pending Home Sales Reflect "Dispirited" Buyers

Posted To: MND NewsWire Pending sales, which were widely expected to make a good showing in November, pulled back sharply instead. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts for existing home purchases, declined 2.5 percent to 107.3 in November from 110.0 in October. […]

Reviving Private Label MBS: How and Why?

Posted To: MND NewsWire In an earlier article we summarized the first part of a report by Urban Institute’s Housing Finance Policy Center, Senior Fellow Jim Parrott about the failure of private label securitization (PLS) to recover after the housing crisis. He cites the lack of certainty in the system on the part of investors […]

Lender/Realtor Connections Ramping Up; Quicken in The News; Young Folks Following Affordability

Posted To: Pipeline Press "I like to party. And by 'party' I mean take a nap." Lots of folks are taking naps this week, but those on the production side of residential lending are talking, off the record, of being worried about huge drops in pipelines, lower applications (no MBA survey this week – it […]

El-Erian: Rethinking the new normal

[View:http://video.cnbc.com/gallery/?video=3000579481&__source=mnd|news|video|&par=mnd] Mohamed El-Erian, Allianz chief economic adviser, discusses how he is thinking about the markets amid anti-establishment political movements. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. El-Erian: Rethinking the new normal El-Erian: Rethinking the new normal

El-Erian: Market underestimating Fed

[View:http://video.cnbc.com/gallery/?video=3000579491&__source=mnd|news|video|&par=mnd] Mohamed El-Erian, Allianz chief economic adviser, talks about the Federal Reserve hiking rates in 2017. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. El-Erian: Market underestimating Fed El-Erian: Market underestimating Fed

MBS Day Ahead: Year-End Grind Continues; Pending Sales and 5yr Auction

Posted To: MBS Commentary NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerations. I'll still be doing that, […]

Prices Hit All-Time Highs Again; Rates Move Up; Regulatory and UW Changes; Private-Label MBS

Mortgage rates moved higher today, bringing them back into the range that’s dominated the second half of the month. That means the average lender is fairly close to the highest rates in more than 2 years, officially seen on December 15th. There hasn’t been much movement since then, which is not uncommon during the winter […]

MBS RECAP: Slowest Full Day of The Year

Posted To: MBS Commentary As far as full business days go (those that aren't "early close"), today was by far and away the slowest day of the year for bond markets. In fact, it may be the slowest day of the year, period, by the time the final volume tallies are in. This has at […]