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Three news feeds are on this page. Mortgage Daily News is below, followed by the Christian Science Monitor, and finally "Your Money" articles from the New York Times. I hope you enjoy these perspectives. |
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| Mortgage Rates Barely Budge at Long-Term Highs | ||
| 9/26/2023 3:28 PM | ||
| In terms of day-over-day changes, today"s mortgage rate movement was forgettable. The average borrower wouldn"t see much of a difference from yesterday"s rates at the average lender. In both cases, those rates would be at or near the highest levels since 2001. The underlying bond market experienced a bit more drama. The early mor...Read More | ||
| Stronger Start, Weaker Finish, No Real Reason | ||
| 9/26/2023 3:25 PM | ||
| Stronger Start, Weaker Finish, No Real Reason Bonds improved in the overnight session, but reversed course the moment that the US bond market hit the 8:20am CME open. The selling wasn"t intense, but it was consistent from that point on. 10yr yields ultimate set new long term highs just over 4.56...Read More | ||
| New Home Sales at 5 Month Lows; Still Much Higher Year-Over-Year | ||
| 9/26/2023 1:11 PM | ||
| August sales of newly constructed single-family homes failed to match the robust numbers from July but were significantly better than those a year earlier. The U.S. Census Bureau and Department of Housing and Urban Development said last month’s sales were at a seasonally adjusted annual rate of 675,000, the lowest since March and an 8.7 percent dec...Read More | ||
| Bond Market Continues "Repricing" | ||
| 9/26/2023 11:12 AM | ||
| The seemingly never-ending sea of red continues. And for good measure, this one began with a bit of hope in the form of an overnight rally that got 10yr yields back below 4.50%. Not one moment after the official end of the overnight session, domestic traders started selling, pausing only briefly for the 9:30am NYSE open before taking yields t...Read More | ||
| Home Price Appreciation Continues Defying The Odds | ||
| 9/26/2023 10:16 AM | ||
| Home prices have resumed their upward climb despite mortgage rates that have doubled post-COVID. According to Craig J. Lazzara, Managing Director at S&P CoreLogic Case-Shiller Indices, the National Index for July hit an all-time high. That index, which covers all nine U.S. census divisions, rose 1.0 percent from the previous July, after postin...Read More | ||
| Data Mining, Digital Lending, Real Estate Database, Servicing Products; Conventional Conforming Program Shifts | ||
| 9/26/2023 9:27 AM | ||
| As if lenders and vendors don’t have enough other stuff to worry about, the budgetary standoff in the U.S. doesn"t look like it will abate soon, raising the likelihood of the first government shutdown since 2019. Current funding for federal operations will end on October 1 unless a deal is reached or the proverbial can kicked down the road. Thousan...Read More | ||
| Mortgage Rates Officially Hit New Multi-Decade Highs | ||
| 9/25/2023 3:21 PM | ||
| The average lender was already very close to multi-decade highs for 30yr fixed mortgage rates last Thursday afternoon, but a modest recovery on Friday meant that there was a chance we could have avoided printing today"s headline this week. Unfortunately, the bond market started the day in rough shape and continued to lose ground throughout.&n...Read More | ||
| Sell Now and Wait For Something to Convince You to Buy | ||
| 9/25/2023 3:10 PM | ||
| Sell Now and Wait For Something to Convince You to Buy Bonds began the week with another move to long-term yield highs. There was a wave of selling in the overnight session led by Europe and another when domestic traders ramped up for the day. Neither were unequivocally the product of some data ...Read More | ||
| New Week, New Highs | ||
| 9/25/2023 11:04 AM | ||
| We continue to anticipate a broadly sideways trend this week although that expectations is being put to the test in early trading. Yields in the longer end of the curve hit more long-term highs this morning, and not in response to any especially compelling data or events. Weakness was generalized in the overnight session, and not much better ...Read More | ||
| Borrower Engagement, Analytics, Internal Audit Tools; CRA News; STRATMOR on the Cost of Indecisive Leadership | ||
| 9/25/2023 9:00 AM | ||
| Are you gradually eating dinner earlier? Join the trend. Want to know another trend that isn’t so benign? Along the lines of the STRATMOR piece below, I received this email over the weekend. “Rob, I’m a processor at a lender who was doing about $80 million a month in 2020 and 2021 but is now doing $15 million. We saved money during those years and ...Read More | ||
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