Daily Newsletter: Mortgage Rate Decline Limited by Holiday; Crouching Traders Pounce; Trends in Rental Markets

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30 Year Fixed
3.88% -0.01
15 Year Fixed
3.11% +0.00
10YR Treasury
2.17% -0.0737
FNMA 30YR 3.5
104.31 +0.34
FNMA 15YR 2.5
104.19 +0.17
View Today’s Rates
Friday November 28, 2014
Mortgage Rate Watch – 1:29PM
Mortgage Rate Decline Limited by Holiday
Mortgage rates were slightly lower today, but it was in no way indicative of the improvements seen in the mortgage-backed-securities (MBS). MBS, above anything else, dictate mortgage …
MBS Commentary – 1:28PM
MBS RECAP: Crouching Buyers, Hidden Traders Pounce on Supply at Month-End
Heading into today, it stood to reason that the normal spat of supportive, compulsory bond buying that occurs at the end of the month would have already taken place by Wednesday. That …
Pipeline Press – 10:41AM
Bank Mergers; Trends in Rental Markets, Distressed Properties and Refis; Vendor Updates
For a deviation from the topic of millennials living at home, since the industry seems so focused on the behavior of this group (just like we were all focused on their behavior while …
MBS Commentary – 8:42AM
MBS Day Ahead: Too Much of a Good Thing for Bond Markets? ‘Tis the Season
I made some fantastic stuffing this year. Just like mom used to make, and probably very much like she’ll make when we drive down to do the Thanksgiving raincheck dinner with the other …

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Santelli: ‘Da spreads! Da spreads!’

Traders watching oil, retail on Black Friday

OPEC decision holds production target

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.88% -0.01
15 Yr FRM 3.11% +0.00
FHA 30 Year Fixed 3.35% -0.03
Jumbo 30 Year Fixed 3.71% -0.02
5/1 Yr ARM 3.24% +0.00

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.18% 0.24 -0.01
15 Yr. Fixed 3.38% 0.27 +0.00
30 Yr. Jumbo 4.10% 0.16 -0.03
30 Yr. FHA 3.85% 0.18 -0.05
5/1 ARM 3.09% 0.34 +0.04
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.97% 0.50 -0.02
15 Yr. Fixed 3.17% 0.50 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 3.01% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.17 +0.38
30YR FNMA 3.5 104.31 +0.34
30YR GNMA 3.0 102.58 +0.44
30YR GNMA 3.5 105.05 +0.33
15YR FNMA 3.0 104.19 +0.17
15YR FNMA 2.5 102.06 +0.25
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
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2 YR 0.4803% -0.0394
5 YR 1.4918% -0.0669
10 YR 2.1710% -0.0737
30 YR 2.8926% -0.0608
Prices as of: 11/28/2014 1:48PM EST

23623981

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
© 2014 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Weekly Newsletter: Mortgage Rates at 1.5-Year Lows; Who Will Pick up Fed’s MBS Buying Slack?; Mortgage Apps Slide Despite Better Rates; HUD’s 4bp Fee

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30 Year Fixed
3.88% -0.01
15 Year Fixed
3.11% +0.00
10YR Treasury
2.17% -0.0772
FNMA 30YR 3.5
104.33 +0.36
FNMA 15YR 2.5
104.20 +0.19
View Today’s Rates
Friday November 28, 2014
Mortgage Rate Watch – 11/26
Mortgage Rates Right in Line with 1.5-Year Lows
Mortgage rates moved lower again today , solidifying yesterday’s tentative break back into the “high 3’s” for top tier 30yr fixed rates. In fact, in terms of end-of-day rate sheet data …
MND NewsWire – 11/24
Who Will Pick up Fed’s MBS Buying Slack?
The Federal Reserve has completed its latest round of Quantitative Easing, the government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae are under orders to continue shrinking …
MND NewsWire – 11/26
Mortgage Applications Slide Despite Falling Rates
Mortgage application volume was mixed during the week ended November 21. The Mortgage Bankers Association (MBA) reported that its Market Composite Index, a measure of the volume of …
Pipeline Press – 11/24
HUD’s 4bp Fee; FHA/Ginnie updates; Status of Mortgage Forgiveness Tax Act
If you’re looking for next investment property, the nearest “college town” may serve you well. According to research from Clear Capital , out of the top 35 cities where home prices …

Latest Video


Lennar CEO: Mortgage finance holding back housing

Bill Pulte expects housing starts to increase

Key October housing data

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.88% -0.01
15 Yr FRM 3.11% +0.00
FHA 30 Year Fixed 3.35% -0.03
Jumbo 30 Year Fixed 3.71% -0.02
5/1 Yr ARM 3.24% +0.00

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.18% 0.24 -0.01
15 Yr. Fixed 3.38% 0.27 +0.00
30 Yr. Jumbo 4.10% 0.16 -0.03
30 Yr. FHA 3.85% 0.18 -0.05
5/1 ARM 3.09% 0.34 +0.04
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.97% 0.50 -0.02
15 Yr. Fixed 3.17% 0.50 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 3.01% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.23 +0.44
30YR FNMA 3.5 104.33 +0.36
30YR GNMA 3.0 102.61 +0.47
30YR GNMA 3.5 105.08 +0.36
15YR FNMA 3.0 104.20 +0.19
15YR FNMA 2.5 102.05 +0.23
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
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2 YR 0.4724% -0.0473
5 YR 1.4821% -0.0766
10 YR 2.1675% -0.0772
30 YR 2.8911% -0.0623
Prices as of: 11/28/2014 1:58PM EST

23623981

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
© 2014 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Daily Rate Update: Mortgage Rate Decline Limited by Holiday

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dailyrateheader.png
30 Year Fixed
3.88% -0.01
15 Year Fixed
3.11% +0.00
10YR Treasury
2.17% -0.0737
FNMA 30YR 3.5
104.31 +0.34
FNMA 15YR 2.5
104.19 +0.17
View Today’s Rates
Mortgage Rate Decline Limited by Holiday
November 28, 2014
Mortgage rates were slightly lower today, but it was in no way indicative of the improvements seen in the mortgage-backed-securities (MBS). MBS, above anything else, dictate mortgage rate movement, but the relationship isn’t always one to one. Shortened holiday-related trading sessions are prime time for these periodic disconnections. In other words, it’s not at all uncommon for lenders to hold off on adjusting rate sheets as much as they otherwise might.

Even against those headwinds, the week is ended with rates at their best levels since the morning of October 15th, which saw the best rates in roughly a year and a half. More than a few borrowers wished they could have locked their rates that morning, and many waited for a bounce back to those lows that never materialized. Of course today’s rates essentially mean we DID get back to those lows, but only after waiting for a month and a half. While the recent, methodical drop in rates means there’s an infinitely better chance of holding ground this time around, long-term lows can’t ever be taken for granted.

Today’s most prevalently-quoted conforming 30yr fixed rate for top tier borrowers is 3.875% with 4.0% not far behind. If the underlying MBS prices were to hold perfectly still on Monday, 3.875% would pull out to a clear lead.


Loan Originator Perspective

“The trend is your friend right now and if we can stay under 2.20 on the 10 Yr Bond the holidays look poised to be in the gift giving mode. Floating for now seems safe but if your closing is within 15 days and you’ve reaped some gains recently a move to lock in those gains would certainly not be foolish.” –Hugh W. Page, Mortgage Banker, Seacoast Bank

“I have been in the float camp for some time now. I believe floating is still the best thing to do for it looks likely rates may decline further. The price of oil is falling which may lead to deflation chatter which is always bond friendly. Stocks are also due for a breather which I believe is right around the corner. The sell off in stocks will help bonds appreciate further bringing down home loan rates. ” Manny Gomes, Branch Manager Norcom Mortgage

Today’s Best-Execution Rates

  • 30YR FIXED – 3.875-4.0
  • FHA/VA – 3.5
  • 15 YEAR FIXED – 3.125-3.25
  • 5 YEAR ARMS – 3.0 – 3.50% depending on the lender

Ongoing Lock/Float Considerations

  • The hallmark of 2014 has been a narrow range in rates. Too many market participants bet on rates going higher in 2014, and markets punished that imbalance with a paradoxical move lower.
  • European markets helped that process along and continue to play a prominent role in keeping US rates lower than they otherwise might be.
  • For most of the Summer and early Fall months, rates held a narrow range of 4.125% -4.25% (essentially where the 2014 rate recovery has bottomed out) and finally broke to a 3.875%-4.0% range in mid-October. After correcting back to 4.125% briefly, November saw a calm, supportive trend that helped establish a ceiling. From there, rates trickled back down into the high 3’s by the end of the month.
  • As always, please keep in mind that the rates discussed generally refer to what we’ve termedbest-execution(that is, the most frequently quoted, conforming, 30yr fixed rate for top tier borrowers, based not only on the outright price, but also ‘bang-for-the-buck.’ Generally speaking, our best-execution rate tends to connote no origination or discount points–though this can vary–and tends to predict Freddie Mac’s weekly survey with high accuracy. It’s safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie’s once-a-week polling method).

30 Year Fixed Rate Mortgage
28?w=360
15 Year Fixed Rate Mortgage
28?w=360&p=15YRFRM

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.88% -0.01
15 Yr FRM 3.11% +0.00
FHA 30 Year Fixed 3.35% -0.03
Jumbo 30 Year Fixed 3.71% -0.02
5/1 Yr ARM 3.24% +0.00

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.18% 0.24 -0.01
15 Yr. Fixed 3.38% 0.27 +0.00
30 Yr. Jumbo 4.10% 0.16 -0.03
30 Yr. FHA 3.85% 0.18 -0.05
5/1 ARM 3.09% 0.34 +0.04
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.97% 0.50 -0.02
15 Yr. Fixed 3.17% 0.50 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 3.01% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.17 +0.38
30YR FNMA 3.5 104.31 +0.34
30YR GNMA 3.0 102.58 +0.44
30YR GNMA 3.5 105.05 +0.33
15YR FNMA 3.0 104.19 +0.17
15YR FNMA 2.5 102.06 +0.25
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.4803% -0.0394
5 YR 1.4902% -0.0685
10 YR 2.1710% -0.0737
30 YR 2.8919% -0.0615
Prices as of: 11/28/2014 1:46PM EST

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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.
© 2014 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
View this Report in your Web Browser | Forward to a Friend | Subscribe
This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice.
You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Weekly Rate Report: Rates Match 1.5-Year Lows

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weeklyrateheader.png
30 Year Fixed
3.88% -0.01
15 Year Fixed
3.11% +0.00
10YR Treasury
2.17% -0.0719
FNMA 30YR 3.5
104.31 +0.34
FNMA 15YR 2.5
104.20 +0.19
View Today’s Rates
Rates Match 1.5-Year Lows
November 28, 2014
Market Summary
Mortgage rates finally began showing some of the signs of life we’ve been waiting for. After nearly a month of mostly sideways improvements, Thanksgiving week lived up to its potential as the most volatile week of the month, historically. That volatility can go both ways, but this year, it went in our favor, bringing rates to their lowest levels since the morning of October 15th and essentially matching the lowest levels in over a year and a half.

3.875% is now the most prevalently quoted rate for top tier borrowers seeking conforming 30yr fixed loans(best-execution), but 4.0% isn’t far behind.

Thinking about the brief dip on 10/15, more than a few borrowers wished they could have locked their rates that morning, and many waited for a bounce back to those lows that never materialized. Of course this week’s rates mean we DID get back to those lows, but only after waiting for a month and a half. While the recent, methodical drop in rates means there’s an infinitely better chance of holding ground this time around, long-term lows can’t ever be taken for granted.

Matthew Graham, Chief Operating Officer, Mortgage News Daily

30 Year Fixed Rate Mortgage
28?w=360
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage

Beginning Average: 3.96%
Ending Average: 3.88%
Weekly Change: -0.08%
Yearly Change: -0.48%

Friday, November 21, 2014 : 3.96% (-0.02%)
Mortgage rates improved again today, carving out another November low, albeit by only a small margin. For some lenders, rates are officially at “one month lows” with October 21st being the last day that similar rates were available. Actually, the rate has been available, but it’s the COST required to obtain that rate that’s fallen back to 10/21 levels. 4% remains the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers. It’s far less prevalent, but 3.875% is being quoted in some cases.

History doesn’t offer many examples of the phrase “lowest rates in a month” meaning much less than it does today.

More detail: “Technically at November Lows, but That Doesn't Mean Much These Days”

Monday, November 24, 2014 : 3.95% (-0.01%)
Mortgage rates continue making improvements so small and so steady that they’re barely noticeable, but they’re improvements just the same. That’s recently left us in the best territory in nearly a month. Today extends those slow and steady gains just enough to technically claim the “1-month low” designation, despite the fact that rates aren’t materially different than they have been. The most prevalently-quoted conforming 30yr fixed rate remains 4.0% for top tier borrowers, but each day of modest improvement brings us closer to 3.875% and puts 4.125% farther in the rearview.

With the Thanksgiving holiday coming up, financial markets will be cramming a day and a half worth of work mostly into Wednesday.

More detail: “Mortgage Rates Now at 1-Month Lows”

Tuesday, November 25, 2014 : 3.92% (-0.03%)
Mortgage rates fell more today than in recent days. Positivity was fueled chiefly by European bond market strength as serious growth concerns persist and rates push ever-closer to their mid-October lows. Domestically, a strong 5yr Treasury auction helped ignite an afternoon bond market rally that included mortgage-backed securities (MBS). When MBS improve enough in the middle of the day, lenders often release new, stronger rate sheets.

This was the case today, and the improvements were good enough to bring 3.875% into the running for the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios. As of this afternoon, it’s just barely edging out 4.0%. That’s the first time we’ve seen the most common top-tier rate quote in the 3’s since October 21, and one of only a handful of times since May 2013. The takeaway is that rates are very strong here, and while further improvements are just as possible as not, they’re also more worth protecting if you have the ability to lock. That’s the suggestion made by past precedent anyway.

More detail: “Mortgage Rates Back Into High 3's”

Wednesday, November 26, 2014 : 3.89% (-0.03%)
Mortgage rates moved lower again today, solidifying yesterday’s tentative break back into the “high 3’s” for top tier 30yr fixed rates. In fact, in terms of end-of-day rate sheet data, today’s rates are actually the lowest in more than a year and a half. The only instance of lower rates came during the morning of October 15th, before the afternoon saw rapid deterioration.

All that having been said, lender pricing is highly stratified during this move because of the holiday. Not all lenders have improved pricing as much as the average lender, and the average lender hasn’t improved pricing nearly as much as they would during a normal week. That generally more cautious strategy is an unfortunate reality during holiday weeks, but it does mean that if financial markets are in similar shape come Monday, that rate sheets should improve a bit more.

More detail: “Mortgage Rates Right in Line with 1.5-Year Lows”

Friday, November 28, 2014 : 3.88% (-0.01%)
Mortgage rates were slightly lower today, but it was in no way indicative of the improvements seen in the mortgage-backed-securities (MBS). MBS, above anything else, dictate mortgage rate movement, but the relationship isn’t always one to one. Shortened holiday-related trading sessions are prime time for these periodic disconnections. In other words, it’s not at all uncommon for lenders to hold off on adjusting rate sheets as much as they otherwise might.

Even against those headwinds, the week is ended with rates at their best levels since the morning of October 15th, which saw the best rates in roughly a year and a half.

More detail: “Mortgage Rate Decline Limited by Holiday “

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.88% -0.01
15 Yr FRM 3.11% +0.00
FHA 30 Year Fixed 3.35% -0.03
Jumbo 30 Year Fixed 3.71% -0.02
5/1 Yr ARM 3.24% +0.00

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.18% 0.24 -0.01
15 Yr. Fixed 3.38% 0.27 +0.00
30 Yr. Jumbo 4.10% 0.16 -0.03
30 Yr. FHA 3.85% 0.18 -0.05
5/1 ARM 3.09% 0.34 +0.04
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.97% 0.50 -0.02
15 Yr. Fixed 3.17% 0.50 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 3.01% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.22 +0.42
30YR FNMA 3.5 104.31 +0.34
30YR GNMA 3.0 102.61 +0.47
30YR GNMA 3.5 105.08 +0.36
15YR FNMA 3.0 104.20 +0.19
15YR FNMA 2.5 102.05 +0.23
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.4724% -0.0473
5 YR 1.4853% -0.0734
10 YR 2.1728% -0.0719
30 YR 2.8942% -0.0592
Prices as of: 11/28/2014 1:54PM EST

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice.

© 2014 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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MBS RECAP: Crouching Buyers, Hidden Traders Pounce on Supply at Month-End

MBS RECAP: Crouching Buyers, Hidden Traders Pounce on Supply at Month-End

Posted to: MBS Commentary
Friday, November 28, 2014 1:28 PM

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Heading into today, it stood to reason that the normal spat of supportive, compulsory bond buying that occurs at the end of the month would have already taken place by Wednesday. That made good sense considering the holiday environment (fewer sellers around on Friday should motivate buyers to take care of business earlier in the week).

Indeed a solid amount of month-end buying was seen on Wednesday, helping bonds hold strong overnight gains. But apparently there were more buyers lurking in the shadows or otherwise unprepared to strike while their iron was hotter on…

(READ THE FULL POST)

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Bank Mergers; Trends in Rental Markets, Distressed Properties and Refis; Vendor Updates

Bank Mergers; Trends in Rental Markets, Distressed Properties and Refis; Vendor Updates

Posted to: Pipeline Press
Friday, November 28, 2014 7:29 AM

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For a deviation from the topic of millennials living at home, since the industry seems so focused on the behavior of this group (just like we were all focused on their behavior while they were growing up), we have the Census Bureau’s Co-resident Grandparents and Their Grandchildren: 2012. According to the report, of the 65 million grandparents in the U.S. in 2012, ten percent (7 million) lived with at least one grandchild. In 2012 almost 3 million grandparents were “grandparent caregivers”, who had responsibility for grandchildren under 18 years old. About 4 million households contained both grandparents and grandchildren under 18, where more than 60% of these families were headed by a grandparent and one third of them had no parent present. Co-resident grandparents are also more likely to be unable to work due to an illness or disability and are more likely to be in poverty. The increase in grandparents living with grandchildren may be due to increase in life expectancy, single-parent families, and female employment.

(READ THE FULL POST)

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MBS Day Ahead: Too Much of a Good Thing for Bond Markets? ‘Tis the Season

MBS Day Ahead: Too Much of a Good Thing for Bond Markets? ‘Tis the Season

Posted to: MBS Commentary
Friday, November 28, 2014 8:42 AM

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I made some fantastic stuffing this year. Just like mom used to make, and probably very much like she’ll make when we drive down to do the Thanksgiving raincheck dinner with the other half of the family. I haven’t had stuffing that good in a while and indeed found it difficult to stop eating it, especially in the middle of the night last night.

Punitive exercise implications aside, bond markets are going through something similar right now. They haven’t had a rally this good in a while (as evidenced by the first meaningful break under 2.30 of the entire month on…

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