MORTGAGE CO-BORROWER: IS IT RIGHT FOR YOU?
Having a co-borrower is a huge deal. And just like any other investment, you’ll want to be absolutely clear about what it entails before committing. Bookmark this blog post for…
Having a co-borrower is a huge deal. And just like any other investment, you’ll want to be absolutely clear about what it entails before committing. Bookmark this blog post for…
The VA loan limits will be increasing for 2019, letting veterans who plan to use the benefit keep pace with the cost of housing. If you are familiar with the VA…
Posted To: MBS Commentary
Today was a throw-away day for the bond market. Yields matched their narrowest trading range of the week and ended the day at their most 'unchanged' levels of the week (i.e. closest to the previous day's close). In addition, Friday's close was only 2bps away from last Friday's close. Translation: bonds did a GREAT job of QUICKLY getting into position for upcoming risks after LAST WEEK'S Brexit news. You'd be forgiven if you forgot about this one already, but I'm referring to the meeting that took place between Boris Johnson and the Northern Irish PM Varadkar. That meeting introduced the prospect of a last minute Brexit deal. Bonds jumped accordingly (perhaps with some help from the trade deal announcement the following day) and the waiting game began. As of tomorrow...(read more)Posted To: Mortgage Rate WatchMortgage rates were flat today. In fact, they were very close to being flat on the week for that matter! This is a reflection of the bond markets current set of concerns, which really came into focus late last week with Th...
Posted To: MND NewsWireMore than a quarter of new home purchases in 2018 were financed through non-conventional sources. Data from the Census Bureau's Survey of Construction shows that, while the new home market was dominated by loans from Fannie and F...
Posted To: MND NewsWireEven though the pace of home building remains below where the industry would like it to be, Fannie Mae says it helped drive residential fixed investment into the black in the third quarter. The company's Economic and Strategic Re...
Posted To: MBS Commentary
Yesterday brought the highest yields in a month as Brexit-related optimism swelled early in the overnight session. At issue: British PM Johnson and EU negotiators reached "a deal." Great! Right? Brexit is solved? But wait... British parliament would still need to sign off on the deal, and the news was quick to point out the relative impossibility of such a thing. As such, overnight market movement began to reverse course even before US markets opened. That brings us to today. Traders know that an easy passage of the current deal is unlikely. But they also know that the deal could be adjusted or debated in such a way that passage is not impossible. Adding to the uncertainty is the fact that the EU could respond in one of two ways if there's no deal by the end of the month (grant...(read more)Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) says it expects that new home sales declined in September relative to August based on a drop in mortgage applications to finance their purchase. MBA says its Builder Application Survey showe...
Posted To: Pipeline PressHere’s a little trivia for you. What does San Francisco have six of that Manhattan has none of? Dirt roads ! I don’t know if the cost of maintaining a dirt road is more than that of maintaining a paved road, but I d...
Posted To: MBS Commentary
The bond market has a lot on its mind right now. 2019 is proving to be very different from other episodes of big, protracted rate trends. In most past instances, we can point to 1 key theme driving the momentum, with a few occasional supporting actors. Things are more complex and nuanced this time around as the usual suspects for rate inspiration seem to be taking turns in the driver's seat. This week (and perhaps last week, to some extent), Brexit is definitely in control. News of a new potential deal hit bonds overnight, but we bounced back after subsequent news that it would have a hard time getting enough votes to make it through Parliament in a special session this Saturday. Much of the brexit-related volatility was playing out right as this morning's economic data hit. Was this...(read more)