Questions? Call LeaderOne Financial at 800-270-3416.
We are always available to help make sense of the market.
Mortgage News Daily News Feed
Posted To: MBS CommentaryBond markets have a secret. Or rather, we have to pretend like it's a secret in order to turn something very boring into something remotely interesting. But this way, at least if your friends and colleagues attempt to draw any overly-firm connections between market events and trading reactions, you can fire back with this: Bond markets have simply been bouncing back from Friday's strong rally . When you see the 5-day chart of MBS and Treasuries, it's fairly shocking. How silly could we have been to infer any significance in the day to day events when they're now so obviously minor course corrections against this bigger picture? Even the two times that rates gapped away from the central trend have seen a sober and definite return--almost as if they were compelled to get back...(read more)
Posted To: Mortgage Rate WatchMortgage rates were higher for a third straight day as financial markets continue a measured correction from last Friday's volatility. At that time, headlines concerning Ukraine destroying a Russian armored convoy caused rates to move to their lowest levels in more than 2 months. Since then, it's been a steady march back in the other direction. Of the week's limited scheduled events, most haven't had any objection to a moderate move higher in rates. Today's release of the Minutes from the most recent Fed Meeting was no exception . In general, most analysts felt the details from the Fed meeting were slightly more upbeat than suggested by the Fed's official policy announcement on July 30th. A more optimistic Fed is bad for rates as it implies an earlier potential rate hike and removal of other...(read more)
Posted To: MND NewsWireRealtors responding to a recent survey by the California Association of Realtors® (C.A.R.) reported that investors and investor sales are a shrinking part of their business. Investor transactions made up an average of 32 percent of sales Realtors reported in the survey, conducted in May of this year, down from 39 percent in the 2013 survey. Most respondents reported that they have one to three clients who are investors. Only 20 percent said they were doing business with six or more. The average number of investor clients dropped from 7 in the 2013 survey to 5.2 this year. More than half of respondents reported they had three or fewer investor sales over the previous 12 months. While Realtors reported that the percentage of sellers they represented in investor transactions grew by 7 percentage...(read more)
Posted To: MBS CommentaryMBS are outperforming Treasuries today and have been flirting with positive territory heading into the noon hour. Treasuries are still about 1bp higher than yesterday. Bond markets were weaker overnight, led primarily by London this time as the Bank of England's meeting minutes showed 2 votes for a rate hike . Other economic data in Europe and Asia was generally not bond-market-friendly. The domestic session saw MBS and Treasuries start in weaker territory. That said, they both did a good job of holding ground during the first few hours and kept the losses contained in a narrow range. From there, MBS have simply done a better job of bouncing back . This is partly a factor of natural spread dynamics (i.e. Treasuries have benefited more from rallies and been hurt more by sell-offs recently...(read more)
Posted To: Pipeline PressThe CFPB released a bulletin outlining expectations for mortgage servicers that transfer loans; bulletin includes information on how mortgage servicers should pay attention to new rules protecting consumers applying for loss mitigation help or trial modifications. The updated bulletin, which can be accessed here , replaces the CFPB's February 2013 guidance. The CFPB explains that its "concern in this area remains heightened due to the continuing high volume of servicing transfers." Most view this updated bulletin as a more detailed supervisory tool rather than a departure from the CFPB's previous stance (in place since January) on mortgage servicing transfers. For example, the original bulletin included seven general information requests for certain servicers planning transfers and this bulletin...(read more)