Gary Boatman
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Real Estate News
MBS RECAP: Is It Over?
Wed, 19 Sep 2018 20:36:51 GMT

Posted To: MBS CommentaryThe titular question could be taken two ways . Is the selling pressure in bonds over? Is the "low rate environment" that's been in effect since mid-2011 over? The answers, in order are "probably not" and "for now." To be ..[read more]

Mortgage Rates Knocking on 5% Ceiling
Wed, 19 Sep 2018 19:37:00 GMT

Posted To: Mortgage Rate WatchMortgage rates are in bad shape . At some point in the past 3 days (depends on the lender), top tier 30yr fixed rate offerings hit their highest level in 5 years, then 7 years. For the first time since 2011, the most pre..[read more]

Home Starts Improve, but There's a Catch
Wed, 19 Sep 2018 14:04:04 GMT

Posted To: MND NewsWireBoth permits and starts were expected to pick up in August, at least holding on to their slight gains in July. Housing starts did deliver, posting a strong increase, but permits, a leading indicator, were down sharply. The U.S...[read more]

LO Jobs and Resources; Direct Streaming Treasury Trading; What's Moving Rates?
Wed, 19 Sep 2018 13:05:42 GMT

Posted To: Pipeline PressI received this question from a well-known lender in Texas. “Rob, our company views loan processors as the unsung heroes of lending. We’re evaluating how ours are paid. Any thoughts?” The STRATMOR Group does..[read more]

Mortgage Apps Gaining Ground Despite Higher Rates
Wed, 19 Sep 2018 12:10:07 GMT

Posted To: MND NewsWireLabor Day typically marks the end of summer and the resumption of business as usual. Hopefully it also marked the beginning of a turnaround for mortgage applications, which increased across the board for the first time since mi..[read more]

MBS RECAP: Bonds Tank as 2018 Fears Become Real Again
Tue, 18 Sep 2018 20:17:32 GMT

Posted To: MBS CommentaryRemember early 2018 when the fear was compounded by this list of bad actors? increased Treasury issuance to pay for the revenue shortfall in the new tax bill the upside economic/inflation potential created by the new tax bill..[read more]

Mortgage Rates Officially Highest in at Least 5 Years
Tue, 18 Sep 2018 19:35:00 GMT

Posted To: Mortgage Rate WatchMortgage rates edged up to 4-year highs with yesterday's bond market losses and things went from bad to worse today. Bond markets (which underlie and directly affect rates) are under extreme pressure today and have gener..[read more]

House-Hungry Millenials Help Keep Builder Confidence Solid
Tue, 18 Sep 2018 14:29:14 GMT

Posted To: MND NewsWireBuilder confidence in the market for newly-built single-family homes stabilized a bit in September. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which has been wobbly in recent months..[read more]

MBS Day Ahead: Bonds Adrift on an Angry Sea of Red
Tue, 18 Sep 2018 13:14:24 GMT

Posted To: MBS CommentaryNot to be confused with the Red Sea, which is an actual place, the sea of red in the title is merely a reference to general bias toward weakness in bond markets for however long you care to look back in time (provided you don..[read more]

Broker, Sales Products; Lender and Agency Florence Updates
Tue, 18 Sep 2018 12:41:54 GMT

Posted To: Pipeline PressTRID 2.0: mandatory compliance on 10/1 is only a few weeks away. Temenos has a primer on it , as does Qualia . The MBA had a piece on it . The NY MBA has a webinar next week. In Michigan the MMLA has a seminar on it this week..[read more]

MBS RECAP: Bonds Battle Back After Hitting Long-Term High Yields
Mon, 17 Sep 2018 21:06:55 GMT

Posted To: MBS Commentary10yr yields briefly hit their highest levels since May 23rd this morning after one large trade started a snowball sell-off in Treasuries. Before that, modest weakness was already intact. "A snowball sell-off to 4-month highs"..[read more]

Mortgage Rates Match 7-Year Highs
Mon, 17 Sep 2018 20:39:00 GMT

Posted To: Mortgage Rate WatchMortgage rates may have had a fairly bad day last Friday, but today was worse . Today officially saw the average lender back at rates not seen since May 17th, 2018. That date might not seem too far away, but at the time,..[read more]

Fannie Thinks Economic Expansion Just Peaked
Mon, 17 Sep 2018 19:11:14 GMT

Posted To: MND NewsWireThe robust growth in the economy in the second quarter may be the final peak of this expansion according to Fannie Mae's Economic Development Report for September. Initial data indicates the 4.2 percent growth last quarter appe..[read more]

Downpayments Hit Record Levels
Mon, 17 Sep 2018 15:00:50 GMT

Posted To: MND NewsWireThere were quite a few recent milestones, high and low, noted in the Quarter 2 Residential Property Loan Origination Report from ATTOM Data Solutions. The report covers the 2.09 million 1 to 4 unit residential loans originated ..[read more]

MBS Week Ahead: Lighter Data This Week as Markets Position for Fed Next Week
Mon, 17 Sep 2018 13:18:29 GMT

Posted To: MBS CommentarySeptember continues to be an unfriendly month for bonds, marked by an unfriendly trend that has carried yields almost exclusively higher. Some of the weakness can be chalked up to pent up selling demand that was on hold throu..[read more]

Notary Product, New Correspondent Lender; Events and Training for September
Mon, 17 Sep 2018 13:03:52 GMT

Posted To: Pipeline PressGiven plenty of warning, and evacuations, the deaths in the Southeast from Florence have people wondering, “Why do residents stick around?” It is complicated, ranging from stubbornness to not having enough money t..[read more]

MBS RECAP: September Trend is Not Your Friend
Fri, 14 Sep 2018 20:48:01 GMT

Posted To: MBS CommentaryAugust was nice. September is mean... at least if you're a bond. Investors wanted you in August when it was still unclear whether or not Turkey was going to be a big deal for the global financial system, whether the trade..[read more]

Mortgage Rates Jump to 4-Month Highs
Fri, 14 Sep 2018 20:18:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had a bad day. Even after a weaker reading on Retail Sales (something that normally helps), the bond market lost ground. Unfortunately, that's consistent with the rest of the week as investors have largely..[read more]

CoreLogic: Hurricane Florence Losses Estimated at $3 to $5B
Fri, 14 Sep 2018 15:31:46 GMT

Posted To: MND NewsWireEven as Hurricane Florence is pushing unprecedented levels of flood waters into North and South Carolina homes, CoreLogic is issuing estimates regarding the storm's dollar costs. Their analysis shows that insured property losse..[read more]

Lower Priced Homes Driving New Home Sales
Fri, 14 Sep 2018 15:19:48 GMT

Posted To: MND NewsWireWhile applications for financing new home purchases declined in August, the Mortgage Bankers Association (MBA) is predicting a bump in the month's new home sales. The MBA's Builder Applications Survey (BAS) data for August show..[read more]

Trailing Doc, Tax, and Reverse Products; Vendor News; New Lender Programs
Fri, 14 Sep 2018 12:58:10 GMT

Posted To: Pipeline Press“Rob, the number of vendors at mortgage conferences seems to be growing. Any idea how many vendors (vs. lenders) there are?” I had no idea but turned to Ginger Bell who keeps up with such things. She replied, &ldq..[read more]

MBS Day Ahead: How Did We End Up In This Mess?
Fri, 14 Sep 2018 12:32:50 GMT

Posted To: MBS CommentaryThe question posed in the title is just a bit too big for us to cover in this humble "day ahead" post, but we can touch on a few key points. I just thought it was a good time to revisit it, given that 10yr yields are beginnin..[read more]

MBS RECAP: Bonds Refuse to Rally Big After CPI's Big Miss
Thu, 13 Sep 2018 20:53:52 GMT

Posted To: MBS CommentaryBond markets were clearly interested in today's Consumer Price Index (CPI) data. It generated a larger single minute of volume than the minute following last Friday's NFP report (the one that caused bonds to tank due ..[read more]

Mortgage Rates Slightly Lower
Thu, 13 Sep 2018 19:34:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell modestly today, following a weaker-than-expected report on inflation. The Consumer Price Index (CPI) measures the change in prices that consumers pay for various goods. The widely followed "core" read..[read more]

Mortgage Fraud Risks Rise, Especially Income Fraud
Thu, 13 Sep 2018 15:58:48 GMT

Posted To: MND NewsWireThe risk of mortgage fraud jumped by 12.4 percent on an annual basis in the second quarter, the seventh consecutive quarter in which it has increased . CoreLogic said its Mortgage Application Fraud Risk Index now puts the rate ..[read more]

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