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    • Relentless Surge in Mortgage Rates September 27, 2023
      It's with no great pleasure (none of any kind, for that matter) that we find ourselves in a position to report, yet again, that mortgage rates have sailed decisively to another new multi-decade high.  Today's installment is fairly unpleasant given that the average lender actually began the day in slightly stronger territory only to be […]
    • What is "Repricing" in The Broader Context, And How is it Moving Markets? September 27, 2023
      What is "Repricing" in The Broader Context, And How is it Moving Markets? We've been here before and we'll be here again, but each time feels like a surprising new twist on what we think we know about bond market motivations.  The key word is "repricing," and we're not talking about lender rate sheets.  In […]
    • All Good Things Must Turn Bad September 27, 2023
      Normally, when the bond market is in a pervasive selling trend, we'll see a day or two of reprieve amidst the carnage.  Frequently, such days are friendly enough to lead to questions about whether they're evidence of a bounce.  At the very least, when trading levels are much stronger on the morning after several days of big […]
    • Verification, Credit, Servicing, Automated QC, POS, DSCR Products; Events and Training Fast Approaching September 27, 2023
      Today I head to Phoenix area for the AzAMP annual conference, and am reminded that, “Change is inevitable, except from a vending machine.” The mortgage industry is constantly changing, although Freddie and Fannie have been a somewhat stabilizing influence. But explaining to someone not in the mortgage business what they, the government sponsored enterprises (GSEs) […]
    • Highest Rates in Decades Cut into Mortgage Volumes September 27, 2023
      The highest mortgage rates in 20+ years drove another decline in mortgage applications during the week ended September 22. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 1.3 percent on a seasonally adjusted basis from one week earlier and fell by 2.0 percent on an […]
    • Mortgage Rates Barely Budge at Long-Term Highs September 26, 2023
      In terms of day-over-day changes, today's mortgage rate movement was forgettable.  The average borrower wouldn't see much of a difference from yesterday's rates at the average lender.  In both cases, those rates would be at or near the highest levels since 2001. The underlying bond market experienced a bit more drama.  The early morning hours […]

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