American Mortgage Licensing
Industry News


 
Thu, 18 Oct 2018 16:37:03 GMT
HELOC and Digital Products; Training And Events

Posted To: Pipeline Press

Whether it is reducing the number of cookies in a package and keeping the price the same or putting less ounces of cereal in a box and keeping the price the same, both are ways of slyly passing on costs to consumers. In housing, the same thing can be done. It turns out that 10% of the homes in Seattle consist of a single room ! Is this 1720? (Think your job is tough? What about appraisers appraising, and investors valuing, homes with only one room?) As we head toward winter, and higher rates, on the flip side Trulia analysis shows 17% of U.S. listings have dropped asking prices . Housing outpacing wage gains is not a long-term recipe for success for real estate. Training and Events Join me for lunch next week! On Thursday, October 25 th at Wente Vineyards in Livermore, CA join me, the California...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



Thu, 18 Oct 2018 13:44:42 GMT
MBS Day Ahead: Scary Technical Pattern Shaping Up For Bonds

Posted To: MBS Commentary

What is a pivot point ? In our primer on the topic, I talk mostly about levels that have repeatedly offered resistance or support to bond yields, but there's another relevant addition to the definition. Pivot points can also be suggested by a singular bounce at long-term high/low. It's not necessarily the first bounce that suggests a certain level as a pivot. Rather, it's when yields return to that level and fail to break on through to the other side. With all of the above in mind, 2018's previous ceiling at 3.128% (we'll call it 3.13% ) is shaping up as just such a pivot point. It acted as a floor as long ago as last Thursday, but yields were holding close--something they often do before attempting to break through. Yesterday's weakness pushed us far enough away from...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



Wed, 17 Oct 2018 22:10:00 GMT
Mortgage Rates Back up to Recent Highs

Posted To: Mortgage Rate Watch

Mortgage rates moved higher at a quicker pace today, following the release of the Minutes from the most recent Fed meeting. But correlation isn't necessarily causality in this case. The Minutes provide a more detailed account of the Fed meeting that resulted in September's rate hike. That rate hike was foregone conclusion and the Fed has been a relative open book in the intervening 3 weeks. In other words, there wasn't bound to be much by way of surprises. Even so, investors are always looking for clues in this more robust snapshot of the Fed's decision-making process. As such, it has the potential to cause some market volatility . There was market volatility today--especially for bonds (which directly affect mortgage rates). It's debatable whether it was purely a function of the Fed. More...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



Wed, 17 Oct 2018 21:06:37 GMT
MBS RECAP: Fed Proves to be Mere Speedbump For Bond Sellers

Posted To: MBS Commentary

Hindsight really is 20/20, and foresight wasn't too bad either. Either way, the picture is becoming clearer as bond yields move back toward recent highs in the wake of today's Fed Minutes. Let's start with the foresight . We'd been expecting (or at least entertaining the strong possibility) bonds to weaken earlier this week in the event the stock market found its footing. Stocks found that footing yesterday, but bonds didn't panic too much. My conclusion from yesterday's recap was that "bond traders could be waiting to make their move until tomorrow afternoon's Fed Minutes," or that we were getting a temporary boost from somewhere. Today's uneventful Fed announcement (stocks closed right at pre-Fed levels and bonds didn't really make a big move...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.



Wed, 17 Oct 2018 14:05:53 GMT
Housing Construction Down But Not Out

Posted To: MND NewsWire

All three reports on residential construction activity in September were disappointing, but no more so than any of the other housing data that speaks to the ongoing process of leveling-off. While there had been some erosion expected from the August numbers, the actual data did not meet analysts' expectations. Upward revisions to August permitting took some of the sting out of that report, but the opposite happened with housing starts. Results were particularly poor in the South, likely resulting from the impact of Hurricane Florence . Permits for residential construction were issued at a seasonally adjusted annual rate of 1,241,000 units. This is 0.6 percent lower than the August estimate of 1,249,000 and 1.0 percent below the annual rate of 1,254,000 the previous September. The August number...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.