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Posted To: Mortgage Rate WatchMortgage rates didn't move much today, despite a somewhat decent improvement in bond markets. Overnight, trade war brinksmanship between the US and China had investors seeking the safe haven of bond markets. Excess demand for bonds pushes rates lower, all other things being equal. As is often the case with safe haven trades […]
Posted To: MND NewsWireThe White House announced on Monday the nomination of Kathy Kraninger as head of the Consumer Financial Protection Bureau (CFPB) to replace acting director Mick Mulvaney. The appointment caught many in Washington by surprise as Kraninger is not widely known and has not previously been active in the consumer arena according to many repo […]
Posted To: MND NewsWireResidential construction data was mixed for May as reported on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development. Housing starts recovered strongly from their April loss while permits continued lower. Housing starts were at a seasonally adjusted annual rate of 1,350,000, a 5.0 percent improvement fro […]
Posted To: Pipeline PressWhen I grow up I want to live in a ranch style… shipping container? If you have a builder complaining about lumber costs or labor to frame a house, there’s always metal. “From rooftop decks to custom wood floors, these repurposed shipping containers are anything but boring.” Air conditioning is a must, and the Hapag-Lloyd sign on the […]
Posted To: MBS CommentaryYou're welcome! I knew if I lamented the slow and boring nature of the week ahead yesterday that I could trick the bond market into doing something exciting. Sure, it was a 50/50 chance that my little ploy could backfire, but at least there would be something exciting to talk about. And now here we are with 10yr yields staring t […]
Posted To: MND NewsWireDespite a slowing rate of economic growth in the second estimate for the first quarter, Fannie Mae's economists are holding firm in their forecast for the remainder of the year. The second preliminary estimate for the quarter was for growth of 2.2 percent, down from the initial estimate of 2.3 percent and off by 0.7 point of the e […]
Posted To: MBS CommentaryThese sorts of days (where nothing happens) happen. If you had to bet on a day of the week and a time of year to see them, Summertime Mondays would probably be the safest bet. Overnight volume was almost nonexistent, with much of Asia closed. Domestic volume and volatility was effectively nil with today's trading range falling e […]
Posted To: Mortgage Rate WatchMortgage rates were sideways to slightly higher today, depending on the lender. The underlying bond market (which dictates rates) was exceptionally quiet. On the heels of last week's important events and without much on the calendar this week, markets may take a couple days to relax. To put that in context, rates have been […]
Posted To: MND NewsWireBuilder confidence in the market for new single-family homes ended a three-month slide in May , as the Housing Market Index ticked up two points. This month that two-point gain evaporated as the index slid back down to 68. The National Association of Home Builders (NAHB) said the retreat of the measure, which it sponsors in conjunction […]
Posted To: MBS CommentaryPost-Italian drama, bond yields rose for 2 straight weeks heading into last week's Fed and ECB announcements. They both proved friendly and the positive momentum continued on Friday. The timing of the Italian drama was important because it began helping bonds right as US 10yr yields were hitting 7-year highs. As yields rose back […]