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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.

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.

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.

Zillow buys a mortgage lender and the stock tanks

Read full story for latest details.

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.

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.

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.

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.

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.

CBRE Global Investors Buys Stake in Three GGP Malls

One of the world’s largest real-estate asset managers has purchased a 49% stake in three malls in a deal that values them at more than $1 billion and shows that investors still have an appetite for top-tier retail property.

FAO Schwarz Is Returning to New York

A dominant presence in Midtown Manhattan for decades before its closure in 2015, the toy store is coming to life again with a new, 20,000-square-foot Rockefeller Center location.

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.

Mortgage News Daily

MBS RECAP: New Fed Vice Chair Helps Rates and Stocks

Posted To: MBS Commentary

We haven't heard much out of new Fed Vice Chair Richard Clarida since he accepted the position, but what we heard today was good. Well, at least the bond market reaction was good. His comments ended up setting the tone for the day. So what did he say? Nothing too complicated... Whereas Fed Pres Bostic was talking about a "neutral rate" of 2.5-3.5 yesterday, Clarida said we're close to a neutral range NOW. That certainly seemed to be the biggest deal among his comments, but it was perhaps just as significant that he noted evidence of global economic slowing. Stocks and bonds both rallied from there on out. The fact that the shorter end of the yield curve led the charge was especially telling (that's where we'd expect to see a bond market rally driven by shifts in Fed...(read more)

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Mortgage Rates Lowest in a Month

Posted To: Mortgage Rate Watch

Mortgage rates hit their lowest levels of THE month yesterday, and the lowest levels in A month today. It's a bit of a technicality, really. As of yesterday, there were a few days in mid-to-late October that saw lower rates. Today's drop means we'd need to go back to early October to see anything lower. What's the significance of being at the lowest levels in a month? None, really. It's just really fun to be able to say such things in an environment where such things haven't been easily said for quite some time! Perhaps more relevant and more tangible is the fact that we can say rates are nearly an eighth of a percentage point lower on the week, and that's a decent move regardless of the environment. Next week brings the Thanksgiving holiday, which tends to make mortgage lenders set rates more...(read more)

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New Home Sales, Prices Faded in October

Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) notes that applications for the purchase of new homes declined by 2.1 percent in October compared to the same month in 2017. Those applications were also 11 percent lower than in September. The information, taken from responses to MBA's Builder Application Survey, does not include any adjustment for seasonal patterns. Based on the survey results and other assumptions including about market coverage, MBA estimates that new single-family home sales were at a seasonally adjusted rate of 673,000 in October, an increase of 4.7 percent from the September sales rate of 643,000 units. On an unadjusted basis, the MBA projects 53,000 new home sales occurred during the month, up by 6 percent from 50,000 sales in September. Conventional loan applications accounted...(read more)

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Mutual Mortgage Insurance Fund Outperforms for Fourth Year in a Row

Posted To: MND NewsWire

The Federal Housing Administration (FHA) said on Thursday that its Mutual Mortgage Insurance Fund (MMI Fund) exceeded its congressionally mandated minimum reserves in FY2018 for the fourth year in a row. In its 2018 Annual Report to Congress the agency said its Capital Reserve Ratio was 2.76 percent at the end of the year, an 0.58 percentage point increase from FY2017. The Economic Net Worth of the fund was $34.8 billion an increase of more than $8 billion from the previous year. The figure is comprised of Total Capital Resources of $49.24 billion and a negative Cash Flow NPV of -$14.38 billion. FHA is required to maintain reserves to cover estimated losses plus a capital cushion of 2.0 percent of all Insurance-in-Force (IFF). This 'Capital Ratio' is calculated by dividing the Fund's Economic...(read more)

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MBS Day Ahead: Bonds Already Commuting for Thanksgiving?

Posted To: MBS Commentary

Because November 1st was a Thursday, we'll be treated to the earliest possible iteration of Thanksgiving. It's next week, by the way! Why are we talking about such things with respect to financial markets? Simply put, the winter holidays definitely have an impact. The catch is that the these impacts vary, and their timing is uncertain with respect to Thanksgiving (as opposed to late December, when it's always going to be the last 2 weeks of the month followed by the first week of January. What sort of patterns do we see shaping up? Oftentimes, it's simply a consolidation. In other words, yields/prices are in the process of making higher lows and lower highs. Sometimes there's a breakout well before the end of the year, but there are rarely breakouts in late November. The...(read more)

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Profitability and Commission Products; HELOCs, Servicing, Digital...Geocoding Bid Tapes!

Posted To: Pipeline Press

Why is the housing market sluggish despite a solid U.S. economy, solid demographics, and pent-up demand? Those don’t matter if prices are out of reach relative to incomes , and housing appreciation has outpaced income growth for a long time. And lending standards have remained more rigorous than they were during the last housing boom, so it has been harder for people to stretch to buy a home. (Veteran lenders will tell you, however, that not everyone deserves to own a home .) The inability of people to buy homes they can’t really afford is great news in terms of avoiding another crisis or even a bubble, but not so great for the near-term outlook for housing. Lender Services and Products Is your correspondent lending business prepared to grow in 2019? To find out, check out this...(read more)

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MBS RECAP: Bonds Pulled 2 Ways by Stocks and Global Gloominess

Posted To: MBS Commentary

Remember the middle of 2016 when rates managed to make it all the way back in line with all-time lows despite having almost no justification in terms of economic data and policy outlooks? Those low rates were mostly about Brexit . Something about Brexit is utterly captivating for global financial markets. When it first happened, there was a bit of an anticlimactic response, largely due to the time window involved in working out the nuts and bolts. Now more than 2 years later, we're getting into the more serious phases of the process. Markets aren't nearly as rattled as they were in 2016, but shifts in potential Brexit outcomes have nonetheless been relevant market movers this week. In general, they made a case for bond market gains (i.e. lower rates) this morning, and never really reversed...(read more)

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Fannie Mae Offering Relief Programs in Wildfire Areas

Posted To: MND NewsWire

Fannie Mae has expanded the menu of post-disaster services it is offering to its borrowers. The new services are in addition to the up to 12 months of forbearance, waived fees, and temporary foreclosure moratorium that Freddie Mac and Fannie Mae (the GSEs) traditionally offer in the wake of hurricanes, wildfires, and other disasters. A press release from Fannie Mae, probably prompted by the unprecedented destruction and loss of life from wildfires in both the northern and southern parts of California, announces personalized case management services through its Disaster Response Network. The program will provide personalized support "to address safety and basic needs, property repairs, employment, and financial recovery-all of which affect a borrower's ability to meet their mortgage obligations...(read more)

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Lowest Mortgage Rates This Month!

Posted To: Mortgage Rate Watch

Mortgage rates hit their lowest levels of the month today! Sure, that's only 10 business days for the mortgage world, but we'll take every little victory we can get these days. Why is that? Because "these days" have been pretty rough. Exactly one week ago, rates were at their highest levels in nearly 8 years. The assertion about today's rates runs counter to quite a few news stories. Major media outlets are reporting rates as being 'unchanged' this week. That wasn't necessarily incorrect until today. In those cases, reporters are relying on Freddie Mac's weekly survey data. The survey only collects responses from Monday through Wednesday and the results tend to over-represent Monday and Tuesday's rates on any given week. Long story short, as of yesterday, it would have been fair to say rates...(read more)

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Buyers Not Holding Their Breath for Short Term Market Relief

Posted To: MND NewsWire

It ain't going to get any easier... The National Association of Home Builders (NAHB) tells us these cheery words encapsulate the attitude of respondents to its survey regarding home purchasing. The company's Housing Trends Report for the third quarter of the year found that seven out of 10 of prospective homeowners think that shopping for a house is either going to get harder or stay about the same. The report focuses on the 13 percent of survey respondents defined as prospective homebuyers, that is persons planning on purchasing within the next year. This percentage was 24 percent in the fourth quarter of 2017 and has declined steadily since. Among Millennials surveyed, 19 percent had short term purchase plans as did 13 percent of Gen Xers. Only 7 percent of Baby Boomers and 3 percent of seniors...(read more)

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MBS Day Ahead: Brexit Strikes Back

Posted To: MBS Commentary

Ah Brexit... You thought you'd heard the last of it back in 2016? No such luck. Actually, it is a bit lucky to be hearing about it, at least as far as domestic rates are concerned. Both in 2016 and in the past week, Brexit-related developments helped rates move lower. The current iteration of Brexit drama is not anywhere near that of 2016 and neither is the market reaction. That said, there certainly has been a market reaction. Yesterday afternoon, that reaction was noticeable, but barely. The overnight session brought an even bigger move in British currency (Pounds Sterling), and a more direct response in US bond markets. Much like bonds' relationship with stocks, it will take quite a bit of drama in Sterling to motivate additional gains (at least if we're talking about gains that...(read more)

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Accounting, Subservicing, Warehouse Products; Freddie and Fannie Changes Roll On

Posted To: Pipeline Press

With only week until Thanksgiving there’s a lot going on – every one of these stats impacts lenders. CoreLogic tells us that there are 48,390 homes at risk from the current California wildfires. Believe in climate change or not, or in science or not, one study shows 386,000 homes are said to be at risk in the coming decades due to rising sea levels and coastal flooding. And according to the RV Industry Association, there are now a million Americans living in RVs full time . (Try counting them in the census, figuring out where they vote, where/if they pay taxes, or if 500 KOA Kampgrounds are enough.) Lender Products and Services As of October 2018, 100 mortgage lenders have signed with Loan Vision to utilize its financial management and accounting solution. Martin Kerr, President...(read more)

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MBS RECAP: More Stock Losses Bring More Bond Bounces

Posted To: MBS Commentary

The narrative has grown (remained?) the same for bonds lately. If stocks are losing ground, then it's time to rally . If stocks are stabilizing or recovering, it's time to sell . Today was more of the same in that regard. For the first few hours of the day, yields moved gradually higher despite the inability of core inflation to even meet forecast levels (in its defense, it was really really close!). But when stocks began losing ground in a fairly convincing way, bonds began to improve. Stock losses were compounded by headlines surrounding the Brexit process, where there was apparently some drama today regarding Theresa May's cabinet and its ability to agree on the current draft proposal. After a few conflicting reports, it finally came out that there was sufficient agreement. British...(read more)

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Afternoon Mortgage Rate Improvements For Most Lenders

Posted To: Mortgage Rate Watch

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 when stocks began losing ground. It's always worth remembering (and this will be especially true when the next time it's proven) that there's no magic rule that says stock prices and interest rates must move in the same direction. It is true that there are frequent examples of such correlation, but there are plenty of other examples where the correlation complete breaks down. All that to say that stock losses helped rates today, but will not always necessarily help rates in...(read more)

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Millennials Could be Foregoing Equity Wealth

Posted To: MND NewsWire

While reams of research have been done on why members of the Millennial generation are less likely to own a home compared to their baby boomer and Gen X elders at the same age, the Urban Institute (UI) notes that knowing the reasons doesn't necessarily shed much light on the potential long-term implications of this behavior. Delaying homeownership , according to UI analysts Jung Hyun Choi and Laurie Goodman, may reduce the wealth the generations' members will acquire over their lifetime. Goodman and Choi used a dataset called the Panel Study of Income Dynamics (PSID) which has tracked individuals since 1968 to identify individuals who reached age 60 between 2003 and 2015 and gather information on their histories, including the age at which they bought their first homes. Half of the older adults...(read more)

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MBS Day Ahead: CPI Gets First At-Bat, Then Back to Stocks

Posted To: MBS Commentary

Bonds are actively trying to decide who they are and what they want to do with their lives. Will they be barometers of economic growth and inflation? Or will they be gauges of Fed bond buying and US government bond selling (supply and demand)? The answer is "yes" on both accounts, but as is often the case--especially when yields have been holding at lofty levels--there's a bit of uncertainty as to how much of the future is already priced-in. Put another way, in a rising rate environment where the reasons for the weakness are well known and well anticipated, bonds increasingly ask "are we there yet?" Today brings a fresh update on one of those "reasons for weakness" in the form of October's CPI data. Inflation has also been holding near post-crisis highs...(read more)

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Mortgage Applications: Refis at Lowest Levels Since 2000

Posted To: MND NewsWire

Mortgage application activity continued to shrink during the week ended November 9. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume dropped by 3.2 percent on a seasonally adjusted basis when compared to its level on November 2. The index has declined by an aggregate of 9.7 percent since it posted its last increase back on October 19. On an unadjusted basis the index was down 5 percent. The Purchase Index also continued its downhill trend, decreasing 2.3 percent on an adjusted basis to its lowest level since February 2017. The unadjusted Purchase Index fell 5 percent week-over-week and was 3.0 percent lower than the same week in 2017. The Refinance Index decreased 4.3 percent from the previous week to an 18 year low (December 2000)....(read more)

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MBS RECAP: Best Levels in More Than a Week Ahead of CPI

Posted To: MBS Commentary

CPI (the Consumer Price Index) has been the most relevant economic report on the horizon since the balmy NFP report from 2 weeks back. Reason being: NFP contained a strong wage growth component, and that always generates some fear among bond traders that higher wages will translate to higher inflation. Economists aren't exactly expecting a big uptick in tomorrow's CPI data, but that's precisely why it's been something of a risk. In other words, if CPI were to come in much stronger than expected tomorrow morning, it could dampen spirits in the bond market. Of course CPI could always come in weaker too--which would cast even more doubt on the ability of wages to translate to inflation in the current economic cycle. It's not that it hasn't been happening, just that it hasn't...(read more)

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Token Improvement For Mortgage Rates

Posted To: Mortgage Rate Watch

Mortgage rates improved by what could only be described as a token amount today. In other words, we're not talking about any major changes. In fact, mortgage rates themselves will be unchanged from Friday for almost any scenario. As is so often the case, we can only measure the change in terms of "effective rates" (which take upfront costs into consideration). In general, changes in mortgage rates are reserved for big market moves whereas upfront costs and effective rates allow for smaller changes in the overall cost of financing. The bond markets that underlie mortgage rates were closed yesterday for the Veterans Day holiday. In the meantime, the stock market lost ground rather abruptly . At times, bonds (rates) will take cues from stocks--especially when the latter is making a big move lower...(read more)

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Homes Sales and Prices in California May Have Hit an Affordability Tipping Point

Posted To: MND NewsWire

It may be that California, where home prices have exploded over the last few years, has jumped the shark when it comes to affordability. CoreLogic's Andrew LePage writes in the company's Insights blog that September home sales in the state were the lowest in the country since September2007. The sales report comes in the wake of reports from several sources showing an abrupt slowdown in home price growth in many of the state's largest metros. CoreLogic says the state's annual gain of 4.1 percent in the median home price statewide was the lowest in more than two years. Coupled with higher mortgages rates, the lack of affordability appears to, in LePage's words, have knocked some would-be buyers to the sidelines, unable or unwilling to buy. Sales do historically fade in September as school starts...(read more)

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Non-QM and Construction Products; Training and Events Nationwide and at Home

Posted To: Pipeline Press

People vote with their feet. Some population movements are dramatic and garner headlines around the world, others not so much. “About 130,000 more residents left California for other states last year than came here from them…” according to a Sacramento Bee review of the latest census estimates. “They most often went to cheaper, nearby states — and Texas. Since 2001, about 410,000 more people have left California for Texas than arrived from there. That’s roughly equivalent to the population of Oakland.” Perhaps some of those vacated houses will be purchased by Zillow who the Houston Chronicle is telling us is launching a service called Zillow Offers early next year in Houston. Zillow will be making cash offers on homes from qualified sellers and then...(read more)

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MBS Day Ahead: Bonds Begin Week With Some Optimism

Posted To: MBS Commentary

As of last Thursday, it didn't look like traders were much interested in hearing arguments in favor of bonds. Then, an unexpectedly healthy little rally on Friday kept hope alive going into the 3-day weekend. Now this morning, the week begins with yields a few bps lower still. 10yr yields begin the week below the middle Bollinger Band (a 21-day moving average that serves as a sort of dividing line between a majority of buying and selling sprees. As can be seen in the most recent dip below (middle yellow line), sometimes the buying sprees are short-lived when we're in the midst of a longer-term uptrend in rates. Momentum technicals (the stochastic oscillators at the bottom of the chart) are also in pretty good shape , with a potential bounce shaping up in shorter-term momentum. The message...(read more)

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MBS RECAP: Bonds Overcome Producer Inflation But Not The Range

Posted To: MBS Commentary

Interesting day today... It began with a decent overnight rally, mostly led by European bond markets. The first big speed-bump came at 8:30am with the Producer Price Index coming in much hotter than expected. Normally, PPI isn't much of a market mover except in the case of BIG beats/misses. This one fit the bill. Bonds sold-off initially . That much was to be expected, but there would they end the day? The possibilities were endless considering yields were already fairly close to long-term highs. Instead, the 9:30am NYSE open brought a healthy dose of bond buying and a moderate amount of stock selling. European trading continued to play a role until noon when bonds went completely silent ahead of the 3-day Veterans Day Weekend, but not before 10yr yields fell more than 5bps and Fannie 4...(read more)

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Mortgage Rates Steady Ahead of Holiday Weekend

Posted To: Mortgage Rate Watch

Mortgage rates were mixed today, depending on the lender. Most lenders began the day in slightly worse shape compared to yesterday. Bond markets improved enough by mid-day that many lenders were able to offer positive reprices (new, better rate sheets). Lenders typically don't change mortgage rates more than once a day unless underlying markets have moved enough. Lenders who repriced generally ended up slightly better off compared to yesterday. The remainder were in worse shape. On average, rates were unchanged. Bond markets will be closed on Monday in observance of Veterans Day. That means mortgage companies won't be available to accept rate locks, and many will be fully closed. When markets fire back up next week, they'll soon be able to digest an important report on inflation in the form...(read more)

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Delinquency Recovery Interrupted by Natural Disasters

Posted To: MND NewsWire

The ongoing improvement in mortgage performance hit a slight snag in the third quarter of 2018, one that appears to be disaster related. The Mortgage Bankers Association (MBA) said the National Delinquency Survey found the national delinquency rate grew by 11 basis points (bps) from the second quarter to 4.47 percent. This was, however an improvement of 41 bps from the same quarter in 2017. Foreclosure starts continued to decline, dropping 1 bp quarter-over-quarter to 0.23 percent, its lowest level since, not just the recession, but 1985. All loan types saw increased delinquencies for the quarter but were down year-over-year. For the quarter, the rate for conventional loans was also up 11 bps to 3.56 percent while the FHA rate rose 26 bps and the VA rate 19 bps to 8.96 percent and 4.16 percent...(read more)

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