Housing News | | The National Association of Realtors (NAR) released its Pending Home Sales Index (PHSI) for December this morning. Pending sales measures the number signed purchase contracts for existing homes. As such, the index is a good early indicator for ... (read more) |
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Mortgage Rate Watch | | Interest rates are driven by the bond market and bonds are at their best levels in over a month. As such, it's no surprise that mortgage rates are able to make a similar claim. In fact, we'd need to go back to December 20th to see a lower avera... (read more) |
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MBS Commentary | | Bonds rallied in overnight trading. The move was exceptionally linear, without any obvious regard for movement in equities or European bonds. Yields were at session lows ahead of the 8:30am data, but have moved steadily higher afterword. The ea... (read more) |
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Rob Chrisman | | Any capital markets person will tell you, “What’s a surefire way to double your money in a casino? Fold it in half and put it back in your pocket.” I am in Las Vegas for First Colony’s Loan Officer Retreat, watching the tragic air news from Washingto... (read more) |
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