Category Archives: Uncategorized

After a Steady Run, Builder Confidence Finally Folds

BY JANN SWANSON Builder confidence took a steep dive this month, reflecting increasing news of slowing home sales and rising concerns over affordability. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), a joint project of NAHB and Wells Fargo, dropped eight points. The index, which has been floating in the […]

Afternoon Mortgage Rate Improvements For Most Lenders

BY MATTHEW GRAHAM Mortgage rates began the day in roughly unchanged territory. Some lenders were microscopically stronger or weaker compared to yesterday, but not enough to impact the average mortgage borrower. For the first few hours of the day, it looked as if rates would stay unchanged or possibly move slightly higher. That all changed […]

Mortgage Rates Edge Back Up to Early 2011 Levels

BY MATTHEW GRAHAM Mortgage rates moved back up today, leaving them right in line with the highest levels of the week. These also happen to be the highest levels since early 2011, but let’s not get bogged down in unfortunate details! Rates will definitely move lower at some point in the future. That’s the way […]

Mortgage Apps: Down to Four-Year Low, Highest Rates Since 2010

BY JANN SWANSON The week ended November 2 was another week of retreat for mortgage applications as the Mortgage Bankers Association’s (MBA’s) Market Composite Index dropped by 4.0 percent on a seasonally adjusted basis. This brought the index to its lowest level since December 2014. The index was down 2.0 percent on an unadjusted basis […]

At Last, A Positive Housing Report!

BY JANN SWANSON The National Association of RealtorsĀ® (NAR) just issued the first positive pending home sales report in months. Pending sales, a leading indicator for existing home sales, rose slightly in a month which saw declining sales of existing homes and a fairly devastating report on sales of newly constructed ones. NAR’s Pending Home […]

Freddie Mac Announces More “Big Data” Tools

BY JANN SWANSON Freddie Mac is announcing a couple of enhancements to its Loan Advisor underwriting tool. The additional capabilities will allow lenders to automate the assessment of borrower income and assets to reduce documentation which the company says will significantly speed-up the approval process. Read More

Mortgage Rates Not Impressed by Market Volatility

BY MATTHEW GRAHAM Mortgage rates are based on mortgage-backed securities (MBS), which are essentially bonds. Conventional wisdom holds that stocks and bonds supplement one another, and that as “money moves in” to one side of the market, it will move out of the other. Conventional wisdom is super duper wrong! If conventional wisdom held true […]

Freddie Mac Gives Shared Equity Ownership a Closer Look

BY JANN SWANSON Freddie Mac made two announcements this week. The first is a long expected administrative change to requirements for private mortgage insurance (PMI) which will go into effect on March 31, 2019. The company updated these requirements under a mandate from its regulator the Federal Housing Finance Agency (FHFA), incorporating changes related to […]