There were substantial improvements in delinquency rates during the first quarter of 2012 according to the National Delinquency Survey for the period released this morning by the Mortgage Bankers Association. At a conference call for media accompanying the release, Jay Brinkmann, MBA's Chief Econom...Read More
MBS Live : MBS Afternoon Market Summary We characterized yesterday as "logical and well contained" with the benefit of some hindsight. While today's session wasn't "well contained," it was rather logical in that it went where you'd expect it to go given the events. Merkel surprisin...Read More
Mortgage Rates are steady to slightly improved today following as Europe's fiscal woes continue providing downward pressure on US interest rates. The forces at work keeping rates low were joined today by "minutes" from the most recent FOMC meeting. All told, several notable lenders...Read More
One of the themes discussed at the MBA’s recent conference in New York was the idea of “a merger” of the mortgage-backed securities issued by Fannie Mae and Freddie Mac. The FHFA itself now lists one of its goals to "build a s...Read More
Small and medium-sized lenders and community banks appear to be closing loans for refinancing faster than their "mega-lender" counterparts according to the Origination Insight Report for April released Wednesday by Ellie Mae. The company, which samples loan applications that are processed through i...Read More
Obama played golf with Joe Biden last weekend. They were kicked off the course because every time Obama yelled "Fore", Biden screamed - "More Years!" But the mortgage industry is more concerned with another Biden: Joe's son Beau, who is Delaware's Attorney General. O...Read More
MBS Live : MBS Morning Market Summary The main market-mover this morning was a CNBC interview with Angela Merkel. In it, the German chancellor offered an increasingly supportive tone on Greece remaining in the Euro-zone, saying that Germany would be open to Greece seeking additiona...Read More
Permits for construction of multi-family housing plummeted in April, offsetting a small increase in single family permits and dropping the total down 7 percent from revised April figures. Permits for all privately owned residential construction were issued at a seasonally adjusted annual rate of 71...Read More
Federal Reserve Governor Elizabeth A. Duke told attendees at a break-out session of the National Association of Realtors® (NAR) Midyear Legislative Meetings that she wished she had, as the session title suggested a " Prescription for Housing Recovery ." "I do see policies that I believe will he...Read More
Refinancing activity spiked during the week ended May 11, rising 13.0 percent from the previous week's level according to the Weekly Mortgage Applications Survey released this morning by the Mortgage Bankers Association (MBA). Refinancing represented 74.9 percent of all applications compared to 72....Read More
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