Get the Latest Mortgage News

This section of Mortgage Kick is for informational purposes only. The choice of the news article and links below are automatically done by a computer algorithm from selected sources. Mortgage Kick does not control these websites nor is responsible for their accuracy or content. Find out more

MBS RECAP: Was the Eclipse a Market Mover?

Posted Aug 21st, 8:47 pm
It's a good thing financial media outlets aren't too shy about covering topics outside the financial sphere because without the eclipse, there would have been nothing to talk about today. Volume and volatility dropped off a cliff, abruptly. In fact, the difference in tone was big enough...

Mortgage Rates Steady at 2017 Lows

Posted Aug 21st, 8:10 pm
Mortgage rates held steady to start the new week. This keeps them in line with the best levels since November 2016. There were no interesting developments in financial markets or in terms of economic data today. Most news coverage was focused on the solar eclipse. It's a good thing the eclipse...

Residential Investment Weighed Down Q2 GDP

Posted Aug 21st, 2:58 pm
Real residential investment subtracted from GDP in the second quarter of the year to the greatest extent since the third quarter of 2010. Fannie Mae's August Economic Developments notes a 6.8 percent annualized decline, but the company's economists expect that sector's contribution to rebound in the...

MBS Day Ahead: Nothing to do With The Eclipse

Posted Aug 21st, 1:56 pm
Welcome! Here is a safe haven from all of the eclipse talk. It won't be mentioned at all in this article. Never mind that it's in the title and the first 3 sentences, because we're about to move on. Bond markets begin another "summertime" week where "summertime"...

Freddie, Fannie, and Lender Shifts in Appraisal and Inspection Policies

Posted Aug 21st, 1:21 pm
What does $980k buy in the SF suburb of Vallejo, CA? A property designed by Julia Morgan (think Hearst Castle) with floating stairways, over-sized eves, massive beams, decks, and the use of exquisite wood wainscoting. The photos are sure impressive . Freddie and Fannie News, Lender Changes For...

MBS RECAP: Bonds Manage to Close ‘Unchanged’ Despite Some Volatility

Posted Aug 19th, 12:20 am
In the Day Ahead, we discussed bond traders' probable goals regarding keeping things as calm as possible. This depended on unexpected headlines and movements in external markets. Either of those were capable of throwing curveballs , and both threw a few today! Out of the gate, bonds were flat,...

More 2017 Lows for Rates; More Trump Drama

Posted Aug 18th, 11:54 pm
Mortgage rates moved lower again. Drama surrounding the Trump administration was also present. But this time around, the political theater wasn't responsible for the move lower in rates. In fact, it resulted in multiple lenders adjusting rate sheets higher in the middle of the day. Fortunately,...

Freddie Mac to Automate Appraisals for Some Purchase Mortgages

Posted Aug 18th, 2:33 pm
Freddie Mac announced today that, going forward, not every application for a purchase mortgage will necessarily trigger an appraisal . A new automated alternative to traditional appraisals, which the company introduced for refinances in June, will soon be available for purchase mortgages. It may...

Freddie Mac Puts Price on All-Cash Transactions

Posted Aug 18th, 2:24 pm
As investors flooded into the housing market after it collapses, they brought cash with them. At one point, 35 percent of home sale transactions were closed without a mortgage, i.e. were all-cash sales. Home prices are up, the bargains are gone, but cash sales remain significantly elevated compared...

Appraisal News; Lock Process Changes; HARP, CRT

Posted Aug 18th, 12:50 pm
Brad Pitt - a wannabe architect? In 2007, Pitt founded the Make It Right Foundation to build homes for families whose original residences had been washed away in Hurricane Katrina. Here's one - the "Tiny House" - very cool . Mr. Pitt's accountants know a thing or two about dealing with the IRS (yes,...

MBS Day Ahead: Most Traders Thinking “Don’t Rock The Boat”

Posted Aug 18th, 11:34 am
A maritime analogy for bond trading in the Summertime... In the summer months especially, there's a boat-friendly baseline weather pattern offshore. Lest you think that's a generality that doesn't merit your full confidence, check out the following shots of wave height at the moment....

MBS RECAP: Introducing The “Snow Cohn”

Posted Aug 17th, 10:01 pm
What do you get when bond markets embark on a snowball rally due to headlines concerning Trump's Economic Advisor Gary Cohn? A delicious "Snow Cohn," of course (my team of writers assured me that was worth what I paid). In all seriousness, there were some serious tweets earlier today...

Trump Administration Drama Pushing Rates Even Lower

Posted Aug 17th, 9:17 pm
Mortgage rates fell yesterday in response to a tweet about Trump disbanding his councils of CEOs. Twitter was in play again today . This time around it was Gary Cohn, Trump's economic advisor. Rather, it was rumors of Cohn's departure that sent financial markets into a tail-spin. Terror attacks in...

Do’s and Don’t’s For Divorce Attorneys (and Their Clients Owning Real Estate)

Posted Aug 17th, 8:25 pm
As a mortgage loan officer, I typically work with home buyers who are moving up, buying their first house, or buying a vacation or investment house. My refinances are often rate and term – (lowering the client’s payment) or cash-out for a specific purpose like paying down credit card...

CoreLogic – Don’t Overlook Rates in Affordability Discussions

Posted Aug 17th, 7:33 pm
Although home affordability is high, relative to pre-crisis levels, the rate at which their prices are increasing is cause for concern. Andrew LePage, CoreLogic Professional in Research Analysis, says the role of rising interest rates should not be overlooked; they can affect affordability more than...

MBS Day Ahead: Trader Ghost Town Greases Skids For Volatility

Posted Aug 17th, 2:22 pm
With this morning's econ data already out and having no effect on bond markets, the only other report for the week is tomorrow morning's Consumer Sentiment--admittedly not the biggest market mover in the world. The backdrop for any potential volatility is the recent, decidedly narrow...

Refis Enjoy Nice Bounce Thanks to Lowered Rates

Posted Aug 17th, 2:04 pm
There is still life left in refinancing. While at nowhere near the levels of a few years ago, Ellie Mae's Origination Insight Report for July reported that the percentage of loans that were for refinancing increased by three points to 35 percent . That gain followed two months of decline. The refi...

State-Level Licensing Law Changes; TRID-Related Process Changes

Posted Aug 17th, 1:38 pm
What will buildable land in Las Vegas set you back? The math is pretty easy: Toll Brothers has acquired 10 acres of vacant land at a once-bankrupt Summerlin condo complex for $10.3 million. But that is just the start of expenses, right? In neighboring California, more stringent building-code...

State-Level Licensing Law Changes; TRID-Related Process Changes

Posted Aug 17th, 1:38 pm
What will buildable land in Las Vegas set you back? The math is pretty easy: Toll Brothers has acquired 10 acres of vacant land at a once-bankrupt Summerlin condo complex for $10.3 million. But that is just the start of expenses, right? In neighboring California, more stringent building-code...

State-Level Licensing Law Changes; TRID-Related Process Changes

Posted Aug 17th, 1:38 pm
What will buildable land in Las Vegas set you back? The math is pretty easy: Toll Brothers has acquired 10 acres of vacant land at a once-bankrupt Summerlin condo complex for $10.3 million. But that is just the start of expenses, right? In neighboring California, more stringent building-code...