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Mortgage -Top news

MBS RECAP: Stocks Lose, Rates Recover on Tax Bill Fears
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: MBS CommentaryBonds began the day in weaker territory partly due to a correction from yesterday's strong run in the afternoon, and partly due to stronger economic data in Europe. Domestic economic data was stronger too, with Retail Sales coming in at 0.8 versus a median forecast of 0.3. The previous reading was also revised up to 0.5 from 0.2. In the past, bonds might have cared more about that sort of data, but at present, there are bigger fish to fry. After yesterday's sch...
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Mortgage Rates Hold On to Lower Levels After Tax Bill Doubts
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: Mortgage Rate WatchMortgage rates held on to yesterday's gains in most cases. Some lenders were even in slightly better shape today, but not enough to have an effect on anything beyond the upfront costs associated with any given rate quote. Rates themselves would be right in line with yesterday's. That's not a bad thing considering yesterday afternoon brought effective rates near their lowest levels of the month. In this case, lower "effective rates" refer to ...
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Automated Appraisals Don't Paint the Whole Picture
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: MND NewsWireThe use of Automated Valuation Models (AVM) is expected to expand following the announced plans of the Fannie Mae and Freddie Mac to waive the requirement for a professional appraisal on qualified purchase loans where the loan-to-value (LTV) ratio is at or below 80 percent. Fannie Mae had previously allowed this waiver only for refinancing, while Freddie will now allow automated evaluation tools for both purchase and refinancing loans when working with its Loan Advisor Sui...
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MBS Day Ahead: Big Directional Moves All About Keeping Things SIdeways
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: MBS CommentaryVolume swelled during the first 3 days of the week, culminating in yesterday's CPI/Fed combo and a fairly large move lower in rates. That's what we can observe about the short -term. If we're looking at longer -term trends, however, yesterday's big directional move was all about keeping things sideways. The yields seen just before the CPI data were right in line with the highest since late October. The upper boundary of the consolidation trend was cle...
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MBS RECAP: Bonds Cheer Weak Inflation Data and Fed Forecasts
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: MBS CommentaryHeading into the day, we knew we were looking at 2 key market movers in the form of the CPI data and the afternoon's Fed festivities (which include an announcement, economic projections, and a Yellen press conference). The morning's inflation data got the party started with Core annual CPI coming in at 1.7 again. This was notable it had just ticked up to 1.8 for the first time in 6 months when it was last reported a month ago. The move up to 1.8 looked like the...
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Mortgage Rates Quickly Lower After Inflation Data and Fed
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: Mortgage Rate WatchMortgage rates fell fairly quickly this afternoon following the Federal Reserves updated economic projections. While it is indeed true that the Fed "raised rates" this afternoon, there are two reasons that doesn't matter. First of all, the rate the Fed adjusts (aptly named, the Fed Funds Rate), governs only the shortest-time frames (overnight loans among big banks). Although its effects radiate to longer-term debt like mortgages, the two are far from ...
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Lender/Appraiser Product; Investor Disaster Updates; Movement's Penalty
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: Pipeline PressWord on the street has House and Senate negotiators agreeing to scale back the mortgage interest deduction in the latest version of the GOP tax bill. The move means homeowners will now be able to deduct interest on the first $750,000 of a new mortgage, down from the current limit of $1 million. Legislation has been introduced in Congress recommending that the CFPB employee pay structure be aligned with the rest of the government. In the meantime, in other government rela...
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For Purchase Applications, This December is Better Than The Last
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: MND NewsWireApplications for mortgages, both for home purchases and refinancing, declined during the week ended December 8. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, was down 2.3 percent on a seasonally adjusted basis compared to the volume a week earlier. On an unadjusted basis, the Index decreased 4 percent. Applications for purchases decreased 1 percent on a seasonally adjusted basis from the week ended December 1,...
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Mortgage Rates Slightly Higher Ahead of Fed
(Mortgage News Daily) - 8 hours, 9 minutes ago...
Posted To: Mortgage Rate WatchMortgage rates moved modestly higher for the 4th straight business day today. Last Wednesday saw the best levels in a month with some lenders in the best shape since early September. The recent move higher brings rates back into the higher part of the prevailing range. If that all sounds somewhat dramatic, it's not . The "prevailing range" is so narrow that it barely bears mentioning. In fact, quite a few loan scenarios would be quoted the same ...
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U.S. not granting loan relief to defrauded students: inspector general
(Yahoo) - 1 days, 17 hours ago...
The U.S. Education Department under President Donald Trump and Secretary Betsy DeVos has stopped cancelling the student-loan debt of people defrauded by failed for-profit schools and those borrowers face mounting interest and other burdens, its inspector general said on Monday....
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