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Mortgage Daily News

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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Our Office
1582 Route 9
Moreau, NY 12828
(518) 743-1414
(518) 824-1132 Fax

Michael Pugh, Licensed Real Estate Broker
Email: mpugh@betterwayrealty.com

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