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Home mortgage rates and real estate news - CNNMoney.com

Should I get a fixed- or adjustable-rate mortgage?

Read full story for latest details.

Looking for a home in Berlin or Budapest? Prepare to pay more

Europe took 11 of the top 20 spots on a ranking of cities with the largest price increases in the first quarter, according to global property agency Knight Frank.

What will your monthly mortgage payment be?

In the market for a new home? Or planning to refinance? Find out what your monthly payment will be.

Zillow buys a mortgage lender and the stock tanks

Real estate information site Zillow is no longer content to just be the place you go to in order to see what your house is worth. The company just bought a mortgage bank. But Wall Street is nervous about the move into home loans.

Is Manhattan's rental market finally cooling off?

Rent prices in Manhattan are slowing down and landlords are offering concessions as inventory on the island grows.

Housing market remains strong, despite mortgage rate worries

Homebuilder Lennar reported sales and profits that topped forecasts and indicated there is still healthy demand for new homes despite rising mortgage rates.

Was my home a good investment?

Calculate the return on your home and how it compares to returns on stocks, bonds and overall home prices.

Why West Coast home prices are surging

The hottest markets are in the West, and it's creating an affordability issue.

What to spend money on (and what to DIY) as a new homeowner

Angie Hicks, co-founder of Angie's List, talks about how to keep your costs in check as a new homeowner.

He made $400,000 flipping a house

Read full story for latest details.

How to save $9,000 on your mortgage

Read full story for latest details.

It's tough to be a homebuyer in Seattle

Read full story for latest details.

Are you ready to buy a home?

Read full story for latest details.

Home Depot's sluggish sales may be warning sign for housing

Home Deport reported sales growth that missed Wall Street's forecasts. The company specifically cited a 'slow start' to spring as a problem. Bad weather did hurt sales. But rising mortgage rates might be a bigger problem going forward.

Even rising mortgage rates won't stop homebuyers

Read full story for latest details.

Home prices are on an epic run

Real estate prices posted an annual gain of 6.3% in February, and have been rising continuously for the past 70 months.

How these hurricane-ravaged states have avoided a housing disaster -- so far

An expected deluge of hurricane-related foreclosures has so far been avoided, thanks in part to new provisions by federal agencies and regulations imposed after the financial crisis.

5 ways to afford your first home

Read full story for latest details.

London's property market is in a coma

London experienced years of booming property prices. But the market has now ground to a halt.

This Texas military town has nearly closed the black and white homeownership gap

Killeen, Texas is a relative oasis of racial parity when it comes to homeownership. The reason: Fort Hood.

WSJ.com: Real Estate

Gardens and Mountains in Australia

This luxury period-style home on more than 50,000 square feet of land has a national park out the back door and is just a 90-minute drive from Sydney.

The Challenges of Selling a Hollywood Home

In Los Angeles, an abode that has housed generations of Hollywood legends can be the ultimate status symbol, but there are complications when it is time to sell.

Hollywood Producer Joel Silver Sells Malibu Home for $38 million

Joel Silver, producer of the “Die Hard” and “Matrix” film franchises, sold his Malibu, Calif., home on Carbon Beach for $38 million.

Ziff Family Florida Compound Is Seeking Almost $200 Million

Known as “Gemini,” the nearly 16-acre estate south of Palm Beach is one of the highest priced listings in the country

An Apple Manager's Headquarters for High Jinks

A creative director crafts a San Francisco home dedicated to daring, whimsy and fun.

Japan's Creative, Ephemeral Homes

Buyers value new, highly personalized houses—forget resales. This model has one happy side-effect: a flourishing of some of the world’s most wonderfully bizarre architecture.

Soho Penthouse Seeks $29.995 Million

The seller is Jon Venetos, the former head of Surveyor Capital, which is part of hedge-fund giant Citadel.

Developers Put on the Glitz for Busy Fall Selling Season

Increasingly, developers use a wide range of splashy affairs to promote luxury residential real-estate sales in autumn, the most important sales period after spring.

Microsoft Opens Flagship Store on Fifth Avenue

Microsoft will step onto one of the world’s biggest retail stages Monday when it opens its Fifth Avenue store in Manhattan as part of its strategy to boost direct contact with consumers.

A Resnick Scion Strikes Out on His Own

With a new Chelsea condominium that’s 80% sold, Scott Resnick shows he’s up to the challenge of developing residential projects on his own.

Shopping Mall Developer Taubman Dies

A. Alfred Taubman, the self-made billionaire who cemented the enclosed shopping mall into American culture has died. He was 91.

Fannie, Freddie to Lower Fees

The Federal Housing Finance Agency is set to direct Fannie Mae and Freddie Mac to reduce mortgage fees on some borrowers.

An App That Helps Glimpse the Future

Rokitt’s augmented-reality technology helps architects and residents see a skyline’s potential.

What's the Deal

A roundup of real-estate news in the tri-state region

New York's Institutional Building Spree

Projects by schools, hospitals and others more than tripled in the first half of this year compared with a year earlier.

Stonewall Inn, Historic Gay Site, May Become New York City Landmark

The city Landmarks Preservation Commission is scheduled to hold a hearing Tuesday on designating the Stonewall Inn as an individual landmark for its pivotal role in New York City’s social history.

Red Berries Are Coming Back to New Jersey

In a sign of the changing beverage market, a longtime plant and distribution facility of juice maker Ocean Spray Cranberries Inc. will soon be home to the company Bai Brands, which produces drinks made from the coffee fruit.

Rent Regulations Expire as Deal Eludes Lawmakers

New York City’s rent regulations expired at midnight Monday as Albany lawmakers couldn’t agree on how to renew a law that afforded protection to more than two million people.

A House Made for a Sailor

The Kroeses are selling their waterside home in Westbrook, Conn., designed to complement lives spent largely on sailboats. The nautically themed home is on the market for $1.975 million.

Group Wants Parking Lots Converted to Elderly Housing

A study by the advocacy group LiveOn NY has identified 39 parking lots in the five boroughs that it says are underused and would be better used as housing for seniors.

What's the Deal: News Digest

A round-up of commercial real-estate news in the Greater New York region.

Rent a Desk, or Bathroom, in New York City With an App

A slew of innovative app-based services help New Yorkers instantly book short stints at the smallest of city spaces—a bathroom, a living room, an office. Need a pit stop? Try Airpnp.

In Franklin Lakes, People Tend to Stay Awhile

The affluent New Jersey community, population 10,600, is about 25 miles from Manhattan. Residents are drawn by its well-regarded public schools, relatively low property taxes and bucolic atmosphere.

Avison Young Hires Big to Accelerate Growth in New York

A. Mitti Liebersohn has left his longtime brokerage team at JLL to join Avison Young’s New York office.

What's the Deal: News Digest

A roundup of real-estate news in the Greater New York area.

Designers Put Cork in It

Once dismissed as cheap and ugly, cork is becoming cool as top designers create pieces that are not only sustainable, but covetable.

Five Midcentury Homes for Interiors Inspiration

Take a tour of these classic residences, including Modernist designer Eileen Gray’s 1929 villa, now open to the public after years of restoration.

Design's Best-Kept Secret: Eames Radios

Collectors are tuning into radios designed by Charles and Ray Eames—a more accessible way to own an original by the midcentury masters.

Basic Home Essentials That Are Anything But Ordinary

Even if you aren’t ready for Marie Kondo’s life-changing magic, you can still embrace the beauty of simplicity by investing in items that are functional and stylish.

Five Fresh Spring Vases

Choose the perfect vase to display those long-awaited spring flowers at their best.

Ways to Give Your House Away

Anyone inspired to donate their home to charity should know that the tax rules are complicated.

Chita Rivera on the Leap That Launched Her Dance Career

The actress/dancer was a tomboy who grew up in a lively Washington, D.C., home.

Comedian Mike Myers Lists New York Duplex for $16.95 Million

The “Austin Powers” creator purchased the 4,200-square-foot penthouse in Soho for roughly $7.9 million in 2007

Philadelphia Penthouse Is Listing for a Record $17.6 Million

Under construction, the apartment has the highest asking price in the city.

Where Luxury Homes Sell the Fastest

An analysis of home listings over a two-month period identifies San Jose, Calif., as the place where home buyers need to act quickly.

Extreme Closet Makeover

A look inside the $85,000 closet renovation of a California doctor.

Westchester's Priciest House Is Listing For $29.5 Million

The 98-acre property in Mount Kisco, N.Y. was once owned by showman Billy Rose

Advantages of a One-of-a-Kind Home

Homes with a special feature that is no longer allowed under local building rules may give owners an edge when it’s time to sell.

The French Riviera at a Bargain

There are rare deals in glittering Cap d’Antibes, the onetime party spot of F. Scott and Zelda Fitzgerald.

Barcelona's Draw as 'Urban Resort'

Spain’s second city is luring new home buyers who like the city-and-surf lifestyle of the coastal metropolis.

After Foreclosures, Home Buyers Are Back

Many who lost their homes during the early part of the financial crisis are rebounding after credit-penalty phase.

Sportswear-Maker Puma to Open New York Flagship

Germany’s Puma has signed a lease deal to creating a marquee location on Fifth Avenue that will be the first of its kind for the company in North America.

Kushner Cos., Brookfield Near a Deal for Stake in 666 Fifth Ave.

The real estate arm of Brookfield Asset Management is in advanced talks with Kushner Cos. to buy roughly a 50% stake in 666 Fifth Ave. and invest hundreds of millions of dollars in the Manhattan office tower, which has been at the center of a controversy over possible conflicts of interest involving Jared Kushner, President Donald Trump’s son-in-law and adviser.

Sign of the Times: New Office Space Created in Retail's Tumult

Normandy Real Estate Partners’ $133 million deal for the upper portion of ABC Carpet’s flagship store is an example of office space edging into territory that once was retail’s domain.

Want to Buy a Luxury Hotel in the U.S.? Try China's Insurance Regulator

When Chinese regulators seized control of Anbang Insurance, they took ownership of more than a dozen luxury U.S. hotels. Now, as the government looks to sell, it faces a problem: The buildings likely are worth less than what Anbang paid only a couple of years ago.

Mortgage News Daily

MBS RECAP: Mismatch Between Headlines and Bonds

Posted To: MBS Commentary

Another day, another chance for market watchers and pundits of all types to make mountains out of Turkish molehills. Yes, the financial crisis in Turkey is important and it's still a thing , but no... it's not the most important market mover for bonds or stocks at the moment. There's only a very small possibility that it's even the biggest risk to the global financial market. Stocks and bonds agreed today, as neither covered any special new ground despite another big drop in the value of Turkish currency. There were also some unsubstantiated headlines that caused a bit of intraday volatility--but that was mostly limited to Turkish markets. 10yr Treasuries, for instance, were unchanged to slightly weaker . Same story for MBS. Had domestic markets been taking any compelling cues...(read more)

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Mortgage Rates Hold Steady at 3-Week Lows

Posted To: Mortgage Rate Watch

Mortgage rates stayed steady at the lowest levels in more than 3 weeks as financial markets are still accounting for additional risks relating to Turkey. Simply put, Turkey is in the midst of a debt/currency/banking crisis and investors are worried about some sort of domino effect among banks that are heavily invested in Turkish banks. All this is worth a bit of "safe-haven" demand for US Treasuries, which offer essentially risk-free returns and a liquid place to park money temporarily. When investors buy more bonds--all other things being equal--it causes bond prices to rise . When bond prices rise, investors are technically willing to accept lower interest payments, and it's that part of the equation that speaks to lower interest rates on US Treasuries and mortgage rates. Bottom line: drama...(read more)

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MBS Week Ahead: Drama's Diminishing Returns

Posted To: MBS Commentary

Did anyone else have to sit through the drug addiction video (or was it a book?) in grade school (or was it middle school?) where the main character kept returning to this amazing fantasy of driving an exotic sports car. Each time, he had to drive farther and faster to get the same enjoyment. You get the idea. Same story for bond markets when it comes to overseas economic/political/debt drama. We need more and more in order to fuel an ongoing rally. As of this morning, we just took a hit of the same drug that made us high on Friday, and... ...nothing happened. Perhaps, if the Turkish drama spirals out of control in a bigger way, bonds will be more willing to entertain a break below that white dotted line. Until then, we're left to wonder if this little diversion has run its course. There...(read more)

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Subservicing, Non-QM Products; Agencies Active in Capital Markets

Posted To: Pipeline Press

Don’t think that correct mortgage documentation is important? Think again, or ask Citigroup. The Federal Reserve said Friday it had fined Citigroup $8.6 million over poor quality mortgage documentation practices at its CitiFinancial subsidiary in 2015. The Fed Citi mishandled customer files as it was preparing to wind down its mortgage servicing business, doing so in 2017. But there is good news! The Fed said that the problem was corrected, and the Fed is terminating a separate 2011 enforcement action against Citigroup on a separate residential mortgage loan servicing matter, citing sustainable improvements by the bank. Dot those i’s and cross those t’s! Capital Markets The various high-ranking officials within the Federal Reserve know just as much about the direction of the...(read more)

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MBS RECAP: The T-Word

Posted To: MBS Commentary

Tired of hearing about Turkey yet? This is what happens when fairly quiet markets are interrupted by a thunderous roar from an unexpected place. Newscasters, analysts, and armchair economists you'll talk to over the weekend are all happy to finally have SOMETHING to discuss other than Elon Musk, Apple being a trillion dollar company, or whether or not Keke loves them. Long story short, there's nothing too meaningful going on in the world of interest rates this week, and the Turkey thing would be worth discussing even during busier times of year. As such, it's going to feel like the only thing anyone is talking about for a while yet. Unfortunately, it's pretty simple: it takes a LOT of drama out of Turkey to generate a merely moderate response in US bond markets. Moreover, when...(read more)

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Mortgage Rates Noticeably Lower on Global Market Drama

Posted To: Mortgage Rate Watch

Mortgage rates , and indeed most interest rates, are tied to movement in the bond market. In turn, bonds tend to benefit when big, scary stuff is shaking global economic confidence. In today's case, the debt crisis in Turkey did just that. Investors sought safe haven in bonds, and rates moved to the lowest levels since July 20th. Lest you think that Turkey is a constant arrow in the quiver of potential market movers for rates, understand that things have had to get pretty bad for US markets to unequivocally respond. This has been a festering for several days (even months, depending upon how nervous or clairvoyant you might be by nature). Today was really the first day that where there's no doubt that Turkey is in the drivers' seat for global financial markets. See how weird that sounded? You...(read more)

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Aging Housing Stock; Problem and Opportunity

Posted To: MND NewsWire

An aging housing stock is usually thought of as a problem. Older homes can be more expensive to maintain and easily fall into enough disrepair to be a health or safety hazard or completely uninhabitable. Construction since the housing crisis has not kept pace with the homes that age out or are otherwise removed from the housing stock and this means that the overall age of the U.S. housing stock is gradually aging. Na Zhao, writing in the National Association of Home Builders' (NAHB's) Eye on Housing blog says data from the 2016 American Community Survey (ACS) puts the median age of owner-occupied homes at 37 years compared to a median age of 31 years in 2005. The aging trend, as the figure below shows, accelerated during the Great Recession. Na Zhao, while not denying that the increasing age...(read more)

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MBS Day Ahead: Let's Talk Turkey

Posted To: MBS Commentary

Turkey (the country, not the lunch meat) is the 17th biggest economy in the world in terms of GDP. That's roughly 20% bigger than the next closest country, Saudi Arabia, and 4 times bigger than Greece. All that to say, Turkey isn't a completely insignificant piece of the global economy. So the fact that they're having a rather epic debt crisis is making the news. I discussed this a bit yesterday, and at the time, we weren't seeing enough correlation spill over from the plummeting Lira to US markets. Not only that, but by far and away, yesterday's biggest domestic market movements were completely independent. Bonds big move lower in yield followed the Producer Price Index. At that time, Lira were doing nothing. And it was the same story with the quick stock sell-off at 3...(read more)

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Correspondent Product; Corp. Structure Changes - A Wealth of M&A

Posted To: Pipeline Press

This week in Salt Lake City, mPower hosted an event at the Lenders One Summer Conference, drawing nearly 400 people. The executive panel, led by MBA's Tricia Migliazzo, presented challenges and solutions in today's workplace and shared insights for what it takes to lead in the mortgage industry. The session marks the 13 th in-person mPower programming event for 2018. mPower, MBA Promoting Opportunities for Women to Extend their Reach, is MBA’s networking and professional development platform for women in real estate finance. Corporate Changes and M&A Corporate changes continue, whether it is at small lenders across the nation, National MI, or last week’s news from Wells Fargo for its warehouse clients. “The Mortgage Banker Finance Group (MBFG), Wells Fargo Securities'...(read more)

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Affordability at 10-Year Low, Tariffs and Rate Hikes Made It Worse

Posted To: MND NewsWire

We now have an unfortunate sign that the recovery is complete. The National Association of Homebuilders (NAHB) says housing affordability is the lowest level since just before the housing crisis hit. The NAHB says the Wells Fargo Housing Opportunity Index (HOI) shows that a combination of rising home prices and higher mortgage rates now means that only 57.1 percent of new and existing homes sold during the second quarter of 2017 were affordable to families earning the U.S. median income of $71,900. This is down from the 61.6 percent of homes sold in the first quarter that were affordable to median-income earners and is the lowest reading since mid-2008. The index reflects the increase in the national median home price to $265,000 in the second quarter, the highest median price ever recorded...(read more)

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MBS RECAP: Good Day For Bonds as PPI Stokes CPI Bets

Posted To: MBS Commentary

Have you heard the one about the Turkish debt crisis? Things are pretty bad for Turkey and the currency is indeed in freefall, but until the charts do something different, they're not yet making a compelling case for a "risk-off" connection to the US bond market. Rather, today's action was centered on this morning's Producer Price Index (PPI). PPI isn't typically a big market mover, but the stakes are a bit higher at the moment. Reason being: tomorrow brings the more important CPI data (consumer price index). The most widely-followed part of the CPI data--"core" year-over-year--has poked and prodded a ceiling of 2.3% during the recovery from the Great Recession, but it has yet to break through. With last month's reading right on the 2.3% line, a downturn...(read more)

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Lowest Mortgage Rates in Several Weeks

Posted To: Mortgage Rate Watch

Mortgage rates finally did what they were supposed to do today. Specifically, they fell in response to bond market improvement. That's the way it should be, but over the past two days the typical relationship between bonds and mortgage lenders' rates has been a bit inconsistent due to the timing of market movement throughout the day. On Tuesday, bonds weakened throughout the day. This would normally coincide with rates moving higher, but the bond market weakness didn't happen quickly enough for most lenders to take action. As such, they were left to make the adjustment the following morning. Then on Wednesday, bonds improved, but not quickly enough for most lenders to bring rates lower. That left us with a bit of an advantage to start the day today. Before most lenders published their first...(read more)

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Fannie Mae Announces Wildfire Policies

Posted To: MND NewsWire

Fannie Mae has informed us that they too have activated their disaster response policies for homeowners , this time for those affected by the California wildfires. Homeowners impacted are eligible to stop making mortgage payments for up to 12 months during which time they will not incur late fees or have delinquencies reported to the credit bureaus. While homeowners are advised to contact their mortgage servicers as soon as possible those servicers are also authorized to suspend or reduce a homeowner's mortgage payments immediately for up to 90 days if they believe a homeowner has been affected, even without homeowner contact. Any eligibility for up to 12 months forbearance will not be affected. Servicers must suspend foreclosure and other legal proceedings if it believes there is a disaster...(read more)

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MBA Says New Home Purchase Apps Reflect Housing Start Surge

Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) says that responses to its recent Mortgage Builder Applications Survey indicates an increase of 3.6 percent in applications for financing newly constructed homes in July compared to the same month in 2017. That is an 0.2 percent uptick from June. Based on the survey results, which are not seasonally adjusted, and other assumptions about factors that include market coverage, MBA estimates that new single-family home sales were running at a seasonally adjusted annual rate of 637,000 in July. This is an 8.5 percent increase from MBA's June estimate of 587,000 units. On an unadjusted basis, MBA estimates that there were 53,000 new home sales during the month, the same number as in June. Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting...(read more)

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MBS Day Ahead: Bonds Look Like They Might Try Again

Posted To: MBS Commentary

In the short-term (past few weeks), the trend has not been our friend. After breaking above a narrow, sideways range, yields had been pushing higher and even crested 3% on the first 2 days of the month. Over the past week, however, they've been trying to change their evil ways- -trying and mostly failing. The benchmark for these efforts depends on your perspective, but the pivot point (a level that has tended to result in more bounces than breaks when approached from either direction) of 2.95% is well-situated to cast some judgment . Also nearby is the middle bollinger band (a 21-day exponential moving average that often serves as the dividing line between positive and negative momentum. Then there are the momentum studies themselves. These involve somewhat more complex math, but all seek...(read more)

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Lender Resources; More Zillow/MLOA Q&A; Rates Treading Water

Posted To: Pipeline Press

Lots of originators are fascinated by demographics. Every year, about 27,000 people move from New York City to Philadelphia , making that specific move one of the largest region-to-region migration flows in the United States. New York in general is often the first stop for immigrants coming to the U.S., and Philly is appealing to both young families trying to get a lower cost of living as well as immigrant populations seeking a long-term community after arrival - and the chance to spend the summer at a beach house with all your next-door neighbors from back in Philly! The number of Philadelphia residents born abroad has increased by 69 percent since 2000. Zillow I keep being asked, “Will Zillow Mortgage/MLOA use Zestimate as a home’s value?” (On a serious note, what happens...(read more)

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MBS RECAP: Well-Receive Treasury Auction: Chicken or Egg?

Posted To: MBS Commentary

This week continued in the fine tradition of of ultra-light summertime volume and liquidity, but today's contribution was a bit more worthwhile than the previous 2 entries. Today, at least, had the 10yr Treasury auction--the heretofore most important event of the week for bond markets. This was the biggest 10yr auction in history--not in terms of importance, but in terms of the outright amount being auctioned. How would markets digest this glut of issuance on an illiquid summer trading week that was already seeing a bigger-than-expected surge in corporate bond issuance? As fate would have it, markets coped pretty darn well. There was no meaningful sell-off ahead of the auction, and the stats were definitely on the strong side. Despite that, we didn't have any meaningful relief rally...(read more)

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Mortgage Rates Edge Higher Despite Market Improvement

Posted To: Mortgage Rate Watch

Mortgage rates were modestly higher today. Much like yesterday, there's a catch! Yesterday's catch was that underlying bond markets had weakened enough during the day that today's rates were more likely start out higher. That was indeed the case. Therefore, today's "opposite" catch is that bond markets strengthened enough during the day that it implies slightly lower rates tomorrow morning, all things being equal. In other words, bond markets didn't improve quite quickly enough for most lenders to adjust mortgage rate sheets in the middle of the day today, but they did improve enough for rates to be just a bit better if nothing changes between now and tomorrow morning. All of the above requires a fairly familiar caveat: we continue talking about "movement" in mortgage rates when, in fact, there...(read more)

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Freddie Mac Announces Wildfire Forbearance Policy

Posted To: MND NewsWire

Some are saying that 2018 may be the worst year in history for wildfires in California and other states are threatened by blazes as well so Freddie Mac is reaffirming its disaster relief policies. The policies apply to borrowers with homes in Federal Emergency Management Agency (FEMA)-declared disaster areas where individual assistance programs have been made available to affected individuals and households. The options include suspending foreclosures by providing forbearance for up to 12 months and waiving penalties or late fees for borrowers with disaster damaged homes. Areas with FEMA programs are listed on FEMA's website. Where those FEMA programs are not available, Freddie Mac servicers are empowered to use Freddie Mac's forbearance programs to provide mortgage relief to borrowers affected...(read more)

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Existing Home Sales "Cooled" in Q2, Prices Did Not

Posted To: MND NewsWire

The National Association of Realtors® (NAR) said existing home sales cooled during the second quarter amidst what it called "staggeringly low" inventories and steadily appreciating prices. The median national price of an existing single-family home in the second quarter was $269,000, which is up 5.3 percent from the second quarter of 2017 ($255,400) and surpasses that number as the new peak. The median sales price during this year's first quarter rose 5.7 percent on an annual basis. NAR's quarterly existing home sales report focuses on major metropolitan markets, and the second quarter edition says that single-family home prices increased during the period in 90 percent of measured markets. Sales prices gained year-over-year in 161 out of 178 metropolitan statistical areas (MSAs) tracked...(read more)

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Home Buying/Selling Attitudes, Job Security Take Hit in Survey

Posted To: MND NewsWire

Attitudes about buying and selling a home degraded in July. Fannie Mae said its National Housing Survey (NHS) for the month found a net decrease among respondents of 4 percentage points who thought it was a good time to buy a home and a net decrease of 6 points in those who think it is a good time to sell. Those two components of the company's Home Purchase Sentiment Index (HPSI) helped pull it lower for the second consecutive month. The Index dropped 4.2 points to 86.5, after reaching survey highs in April and May. Two others of the six components fell as well. The net responses that it is a good time to sell have trended higher since January of last year and hit a survey high in June, but the 6-point drop last month took the net down to 41 percent. Positive sentiments about buying netted...(read more)

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MBS Day Ahead: Key Levels to Watch in Stocks and Bonds

Posted To: MBS Commentary

After spending most of July in a narrow, sideways trend, bonds broke higher in yield and looked like they would begin a classic range-breakout sell-off. In other words, momentum had been sideways and because they broke higher in yield out of that range, the momentum implication was toward weaker levels. But now the past 5 trading sessions have seen yields make a case for a new sideways range . Whereas the old range was roughly 2.81-2.89, the new range is shaping up to be 2.93-3.02. Whether or not it holds may be dependent on how related markets are trading (as seen in today's chart). For Treasuries' part, they seem at least WILLING to be resilient in the face of ramped-up issuance amounts, stronger stocks, and lighter summertime liquidity. Today's key event for bonds is the 10yr...(read more)

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Q&A on Zillow/MLOA Deal; UW Updates; 1003 Products

Posted To: Pipeline Press

The U.S. Census Bureau knows a thing or two about numbers, and it tells us that over the 10 years from 6/30/07 to 6/30/17, the number of “renter” households in the USA increased by 8.4 million to 43.4 million while the number of “owner” households increased by just 0.9 million to 76.1 million. Over the latest 12 months, however, from 6/30/17 to 6/30/18, the number of “renter” households in the United States declined by 0.1 million to 43.3 million, while the number of “owner” households increased by 1.8 million to 77.9 million. Thanks in no small part to folks who read this commentary! There’s a spate of home vacancies across the United States, especially in cities in decline . A healthy rental vacancy rate is about 7 to 8 percent and a healthy...(read more)

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Mortgage Applications Activity Dips to 19 Month Low

Posted To: MND NewsWire

The week ended August 3 marked the fourth consecutive one in which mortgage activity declined. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, was down 3.0 percent both before and after seasonal adjustment, and that the adjusted number reached its lowest level since January 2016. The seasonally adjusted Purchase Index dropped for the fourth week as well. It was down 2 percent from the week ended July 27. The unadjusted Purchase Index was also down 2 percent, both from the previous week and from the same period in 2017. The Refinance Index decreased 5 percent to its lowest level since December 2000. The share of applications for refinancing decreased to 36.6 percent of the total from 37.1 percent the previous week. Refi Index vs 30yr Fixed...(read more)

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MBS RECAP: Recent Winning Streak Breaks Down

Posted To: MBS Commentary

Bonds enjoyed a nice little winning streak beginning last Thursday. As of yesterday, it had carried 10yr Treasury yields below the important 2.95% technical level. From a technician's point of view, this initiated a " test " of the pivot point. And if pivot points aren't your thing, we could just as easily say it initiated a test of the 21-day exponential moving average at the heard of the Bollinger Band study. Either way, today's weakness means that those tests failed , or to adhere to the technical analyst's lexicon, those tests were not 'confirmed." What does this mean? Nothing too sinister. For all we know, technical analysis could just be something we use to occupy our time when we can't draw any more obvious conclusions between fundamental inputs...(read more)

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