
No Surprise: Refi Demand Sapped by Rate Spike
Mortgage application activity declined for the second consecutive week as rising interest rates continued to weigh on demand. The Mortgage Bankers Association (MBA) reported a decrease of 10.5% on a seasonally adjusted basis for the week ending March 20. Both major components moved lower. The Refina
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Verification, Non-QM Hedging Tools; Builder Trends That Impact LOs; Student Debt News; Automation and Processing
Products, Services, and Software for Brokers and Lenders Four Methods to Hedge Non-QM & Maximize Profits: In todayβs growing non-QM market, selling best efforts is leaving value on the table. Accumulating bulk and improving execution is possible, but it involves taking price risk on the non-QM l
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Bonds Fade De-Escalation Hopes
Markets were presented with an opportunity just before the close yesterday to put their faith in another ceasefire-style announcement, but have instead opted to stick with prevailing momentum (lower stocks, higher yields and oil prices). Part of the reason is that rather than a true ceasefire, the a
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That Escalated Quickly
That Escalated Quickly It would be easy to check in on the bond market at some point on Thursday afternoon and conclude there'd been precipitous escalation in the Iran war or some other big new development putting pressure on bonds (10yr yields up almost 10bps to 4.42+ and MBS down more than 5/8ths)
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