Will the Mortgage Life Saver NMLS # 1447868

08/28/2021

The number of homeowners in forbearance plans rose over the most recent week. Black Knight says a 10,000 loan increase in the number of loans serviced for bank portfolios and private label securities (PLS) accounted for most of the growth. As of August 24,...

08/27/2021

Your rates for today. give me call see if you qualify

Mortgage rates stabilized today after moving higher at a moderately quick pace over the past 2 days. To be sure, today's rates are definitely higher than those seen at the end of last week, despite numerous headlines to the contrary. The headlines in question are based on Freddie Mac's weekly rate s...

08/27/2021

Bonds Leveling Off But Not Out of The Woods Bonds began the day with a test of the important technical ceiling at 1.37% in 10yr yields. With some help from geopolitical risk due to bombings in Kabul, bonds managed to stay fairly calm with the 10yr just a hair...

08/26/2021

Yields Searching For a Pre-Fed Ceiling Although the week began in forgettable fashion, Tuesday saw yields move up at a moderate pace with no overt provocation. Indeed a quick glance at the 5-day candlestick chart leaves one with the impression that bonds simply...

08/25/2021

Increasingly Defensive Ahead of Jackson Hole Bonds sold off moderately and steadily all day without any clear paper trail back to newswires, data, or events. Could it be an evolving narrative on covid? Typical hesitation on a Treasury auction week? Random movement...

08/24/2021

Your rates for today. give me call see if you qualify

Mortgage rates are only adjusted once per day by default. From there, the underlying bond market would need to improve or deteriorate by a certain amount for the average lender to go to the trouble of a mid-day reprice. A small handful of lenders did that last Friday (bonds were deteriorating), but....

08/24/2021

Mortgage rates are only adjusted once per day by default. From there, the underlying bond market would need to improve or deteriorate by a certain amount for the average lender to go to the trouble of a mid-day reprice. A small handful of lenders did that last...

08/21/2021

Your rates for today. give me call see if you qualify

Rates are on hold until the next chapter is written in the complex saga of covid versus the market. This isn't to say rates perfectly flat--simply that the prevailing momentum has been sideways for the past few weeks. Since mortgage rates only change once or twice a day, we can use 10yr Treasury yie...

08/20/2021

Your rates for today. give me call see if you qualify

Mortgage rates were slightly lower today as the bond market improved for the 2nd straight day. When bonds prices move higher, bond yields (or rates) move lower, all other things being equal. In the current case, bonds were generally cautious heading into yesterday's reading of the minutes from the m...

08/20/2021

It seemed like a simple solution for expanding the credit profile of many first-time homebuyers, but Fannie Mae's new plan to utilize rent payment history to that end will not immediately remedy the situation. Linda Goodman and Jun Zhu, in a new post on the...

08/19/2021

Your rates for today. give me call see if you qualify

Mortgage rates haven't been skyrocketing, by any means, but they have been moving up in fits and starts over the past 2 weeks. Today was just another page in that story despite a relatively friendly reaction to the Fed Minutes. What are the Fed Minutes? Well may you ask! If you're familiar with the....

08/19/2021

Bonds Sell Rumor, Buy New on Inconsequential Fed Minutes A lot has happened in the past 3 months--especially when it comes to the variables that could impact Fed policy going forward. This made any massive reaction to today's Fed Minutes a long shot, but it...