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

Would “Student Loan Mortgages” Solve Homeownership Problems?

Posted Nov 9th, 9:56 pm
In June the National Association of Realtors® (NAR) released a "working paper" from the Rosen Consulting Group and the Fisher Center for Real Estate and Urban Economics, University of California, Berkeley, detailing several barriers to homeownership ; affordability, post-foreclosure stress...

MBS RECAP: Bonds Unable to Hold Mid-Day Gains After Senate Tax Plan

Posted Nov 9th, 9:49 pm
Bond markets began the day roughly unchanged after initially improving in the overnight session. Domestic hours saw 10yr yields make 2 attempts to break higher with both thwarted by 2.345%. Just after the 2nd bounce, the first leaks started coming out regarding the Senate tax plan . Markets...

Mortgage Rates Higher as Lenders Catch Up to Yesterday’s Market Moves

Posted Nov 9th, 8:22 pm
Mortgage rates moved higher for the first time this week, ending a 3-day run at the best levels since mid-October. Today's rates are roughly in line with those seen on November 3rd. Compared to yesterday's closing levels, bond markets (which dictate mortgage rates) are roughly unchanged today. That...

MBS Day Ahead: Beware Short-Term Bounce Potential But Don’t Freak Out Until It’s Time

Posted Nov 9th, 2:28 pm
Bonds are beginning the day in weaker territory for one of several reasons (MBS Live members can read about them in greater detail HERE ). The weakness comes at a bad time with respect to the progress made in the past few weeks. We're not talking about anything apocalyptic, but we do need to be...

State-Level News, Lending Law Changes; Accounting and Forecasting Products

Posted Nov 9th, 2:14 pm
Regardless of presidential administration, immigrants, and millions others, need places to live, and this morning a story was published about Fannie Mae entering the construction loan biz . With builders supplying about half of the calculated demand, it could help. Now, if someone could do something...

MBS RECAP: Bonds Lose Ground For 1st Time in 6 Trading Sessions

Posted Nov 8th, 9:17 pm
After 5 days of gains for longer-term bonds (we'll lump 10yr Treasuries and the MBS coupons that matter to rate sheets into that category), today finally turned red. How much to read into that weakness is a matter of debate. On one hand , it's an exceptionally slow week where we've...

Housing Enthusiasm Ebbed After Last Month’s All-Time Highs -Fannie Survey

Posted Nov 8th, 8:52 pm
Fannie Mae blamed diminished confidence in both buying and selling a home for a 3.1 percentage point drop in its Home Purchase Sentiment Index (HPSI) last month. The Index fell, after tying the all-time high of 88.3 in September, to 85.2 in October. Net positive responses to four of the six...

Mortgage Rates Flat Today, But Some Signs of Pressure

Posted Nov 8th, 8:23 pm
Mortgage rates held steady again today, keeping them in line with the lowest levels in more than 3 weeks. They've also been uncommonly calm so far this week, which certainly isn't a bad thing when we're at 3-week lows. The calm trend began showing cracks at the end of the day in terms of underlying...

Renters Getting Off Easy vs Owners When it Comes to Rising Payments?

Posted Nov 8th, 5:08 pm
According to CoreLogic, it doesn't matter whether you rent or recently bought a home, your housing costs probably went up over the last year. Two separate posts in the CoreLogic Insights blog look at the rising costs, and find that homeowners are being hit harder than before. Still, when viewed...

FHA Changes; NY, WV, and NJ Lending Updates

Posted Nov 8th, 2:14 pm
“These businesses are in a structurally disadvantaged position, given the challenging rate environment and marketplace,” Sanjiv Yajnik, president of financial services at Capital One, said in a memo to employees. “These factors do not allow us to be both competitive and profitable...

Rate Reversal Helps Market Share for Refinances

Posted Nov 8th, 2:11 pm
Mortgage application activity was generally muted last week accoording to the Mortgage Bankers Association (MBA). Where there were changes in the MBA's Market Composite Index, they were small and without much direction. The Index, a measure of mortgage loan application volume, was unchanged on a...

MBS Day Ahead: At Least There’s a 10yr Auction

Posted Nov 8th, 1:53 pm
If you've been putting something off that you might be able to chip away at with an extra 5 minutes each morning this week, but simply can't bear the thought of not reading this commentary, this may be the best week we've seen all year to tune out. I'm a great self-promoter, I...

MBS RECAP: Another Slow Day, But At Best Recent Levels

Posted Nov 7th, 10:42 pm
We COULD complain about the absence of volume and volatility in bond markets at the moment. Or we could observe that the calm, relatively sideways trading of the past 2 days left MBS and Treasuries at their best 3pm closing levels since mid October. As we discussed yesterday, that move to stronger...

Mortgage Rates Steady at 3-Week Lows

Posted Nov 7th, 10:15 pm
Mortgage rates held steadier today after spending 6 of the past 7 days moving lower. They're now at their lowest levels in roughly 3 weeks and fairly close to reentering the lower range that ended in September. That all sounds pretty impressive, but day to day rate movements have been smaller than...

Overvaluation Becoming a Bigger Issue for Home Prices -CoreLogic

Posted Nov 7th, 4:37 pm
Data from CoreLogic could be sounding a bubble alarm. The company's Home Price Report for September jumped almost a point from the previous month, and the company says nearly half of the largest metropolitan areas are overvalued. The CoreLogic Home Price Index (HPI) rose 0.9 percent for the third...

Jumbo Loan Availability Declined in October

Posted Nov 7th, 2:56 pm
Access to mortgage credit changed very little over the first nine months of 2017, and when there were increases, it seemed always to be the availability of jumbo mortgages driving them. The Mortgage Bankers Association said that the change in its Mortgage Credit Availability Index (MCAI) in for the...

How Much Do Rates Matter For Affordability?

Posted Nov 7th, 2:56 pm
During the first eight months of 2017, home prices increased at the fastest clip than any equivalent time period since 2013. Black Knight Financial Services said late last month that there had been just over 6 percent in appreciation in its nationwide Home Price Index (HPI) over that period, a...

Nationstar in Play; New Lender; State Credit Scores and Lending Changes

Posted Nov 7th, 2:52 pm
The MBA sent a letter to the House Committee on Ways and Means regarding its recently released tax reform proposal. Given the tax proposal, the MBA reports (using its analysis of 2016 HMDA data) that 7% of first lien home purchase mortgage balances originated in the US in 2016 exceeded $500,000....

MBS Day Ahead: Without Inspiration and Motivation, Things Can Get Weird

Posted Nov 7th, 2:06 pm
Bond traders are like my 10yr old. If you give them plenty of information to consider and if you lay out the right set of challenges, they're much more likely to stay on task in a relatively predictable way, or at least in a manner that can be reconciled in hindsight. But if you remove the...

Mortgage Rates Drift Calmly Down to 3-Week Lows

Posted Nov 6th, 10:08 pm
Mortgage rates continued lower today, despite a blatant lack of underlying motivation in financial markets. By that, I mean that we haven't seen any obvious cause and effect relationships between news, economic data, and bond market movements (which, in turn, drive interest rate movements). Instead,...