Single-Family Homes Now Integral to Rental Stock

Single-Family Homes Now Integral to Rental Stock

Posted to: MND NewsWire
Monday, December 31, 2018 12:04 PM

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When one thinks about renters it is usually clusters of three-story garden style apartments, or high-rise elevator buildings that come to mind. But Freddie Mac says that the majority of America’s 43 million renter households, 25 million of them in fact live in properties considered single-family housing – detached homes, townhomes, and two-to-four-unit properties (with the last category accounting for about 8 million units). The total valuation of single-family rentals (SFRs) is estimated at well over $4 trillion, compared to $3.7 trillion for the traditional five+ unit rental properties. Urban dwellers make up 35.5 million of the nation’s renters while 7.5 million live in rural areas, but in the latter, 66 percent of the rental stock is single family housing.

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MBS Day Ahead: 8 Examples of New Year Bond Trading Themes

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MBS Day Ahead: 8 Examples of New Year Bond Trading Themes

Posted to: MBS Commentary
Monday, December 31, 2018 9:40 AM

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This week promises a slow start due to the early close today and full closure tomorrow, but a strong finish due to Friday’s NFP and the simple fact that it’s a new trading year during a fairly volatile phase for markets. I’ve talked a lot in recent weeks about the general truths of new year trading, so I figured it was time to put together charts with examples of recent new year themes.

Here are the 7 most interesting new year trends/reversals of the past 8 years. 2 of them didn’t make the cut because nothing new happened, but 7 out of 9 is more than enough…

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Dec. 31: Rates, the Fed, World Economies, Affordability, and the Shutdown

Dec. 31: Rates, the Fed, World Economies, Affordability, and the Shutdown

Posted to: Pipeline Press
Monday, December 31, 2018 8:15 AM

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How important is it for lock desk personnel to charge the correct fees for rate lock extensions? Very. Lock mistakes were included in Wells Fargo’s latest settlement with states, this time around for $575 million. There were other non-mortgage items listed, however, including opening millions of unauthorized accounts and enrolled customers into online banking services without their knowledge or consent, improperly referred customers for enrollment in third-party renters and life insurance policies, improperly charging auto loan customers for force-placed and unnecessary collateral protection insurance, and failure to ensure that customers received refunds of unearned premiums on some optional auto finance products. (In other legal news, the video industry is scrambling since athletes don’t own their tattoos! Time to lawyer-up with copywrite attorneys.)

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MBS RECAP: Bonds Improve Significantly Despite Stock Market Resilience

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MBS RECAP: Bonds Improve Significantly Despite Stock Market Resilience

Posted to: MBS Commentary
Friday, December 28, 2018 4:55 PM

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Bonds have had their good eye on stocks for months now. Almost any instance of exceptional bond market strength has come courtesy of exceptional weakness in the stock market. Today was–well… and exception.

Stocks and bonds both began the day fairly close to yesterday’s latest levels. Stocks stayed there. Bonds didn’t. It’s really that simple in terms of recapping the movement itself, but what was the underlying cause?

Given the timing of today’s volume spikes in bonds, we’re almost certainly dealing with year-end tradeflows. What does that…

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Daily Newsletter: Pending Home Sales Foiled Again; Rates End Year at 4-Month Lows

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dailynewsletter.png
30 Year Fixed
4.63% -0.01
15 Year Fixed
4.19% -0.01
10YR Treasury
2.72% -0.0521
FNMA 30YR 3.5
99.78 +0.27
FNMA 15YR 2.5
99.64 +0.20
View Today’s Rates
Friday December 28, 2018
Mortgage Rate Watch – 4:27PM
Mortgage Rates End 2018 at 4-Month Lows
Mortgage rates moved lower by an almost imperceptible amount today. The improvement was enough to bring the average lender to the lowest levels since the end of August, 2018. In other …
MND NewsWire – 10:29AM
Pending Sales; Foiled Again!
Analysts had expected to hear that pending home sales had a good run in November, perhaps even breaking its 10-month streak of year-over-year declines; Econoday went so far as to predict …
Pipeline Press – 9:31AM
FHA and VA Changes; Agency Deals Continue to Share Risk
“Rob, should we be staffing up for another refi boom?” It seems like most lenders are pausing during the holidays to take stock of current staffing levels before adjusting …
MBS Commentary – 9:17AM
MBS Day Ahead: Are Stocks and Bonds Correlated Right Now? It’s Complicated
As we discuss off and on over the years, the relationship between stocks and bonds is always complicated. At times, it seems as if bond yields and stocks prices are following each other …

Latest Video


Higher rent growth is possible during 2019, says REITs analyst

If Fed continues on its path, we’ll see recession by 2020, says Natixis’ LaVorgna

Pending home sales weaker than estimated

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 4.63% -0.01
15 Yr FRM 4.19% -0.01
FHA 30 Year Fixed 4.22% -0.01
Jumbo 30 Year Fixed 4.39% -0.01
5/1 Yr ARM 4.59% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 4.15% 1.16 -0.02
30 Yr. Fixed 4.78% 1.15 +0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.96% 0.49 -0.01
15 Yr. Fixed 4.39% 0.50 +0.01
30 Yr. Jumbo 4.93% 0.31 +0.01
30 Yr. FHA 4.95% 0.80 +0.01
5/1 ARM 4.24% 0.48 +0.02
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 4.55% 0.50 -0.07
15 Yr. Fixed 4.01% 0.40 -0.06
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 4.00% 0.30 +0.02

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 97.33 +0.41
30YR FNMA 3.5 99.78 +0.27
30YR GNMA 3.0 98.30 +0.30
30YR GNMA 3.5 100.41 +0.22
15YR FNMA 3.0 99.64 +0.20
15YR FNMA 2.5 97.53 +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
TR_Eikon_Email.png
2 YR 2.5182% -0.0483
5 YR 2.5564% -0.0636
10 YR 2.7217% -0.0521
30 YR 3.0237% -0.0354
Prices as of: 12/28/2018 4:55PM 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.
© 2018 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Weekly Rate Report: Rates Hold Near Longer-Term Lows; Volatility Risks Remain

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weeklyrateheader.png
30 Year Fixed
4.63% -0.01
15 Year Fixed
4.19% -0.01
10YR Treasury
2.72% -0.0538
FNMA 30YR 3.5
99.80 +0.28
FNMA 15YR 2.5
99.64 +0.20
View Today’s Rates
Rates Hold Near Longer-Term Lows; Volatility Risks Remain
December 28, 2018
Market Summary
Mortgage rates surged lower last week and then spent this week largely holding steady. Holiday market closures and volatility in related markets made for some excitement and uncertainty at times. But for the most part, the market for mortgage-backed securities (the stuff that trades on wall street and beyond that actually determines mortgage rates) is far enough removed from the stock market to avoid major drama.

As was the case last week, we continue to wait on next week’s big jobs report to take the first stab at getting a ball of momentum rolling in 2019.

-Matt Graham, 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: 4.65%
Ending Average: 4.63%
Weekly Change: -0.02%
Yearly Change: +0.60%

Friday, December 21, 2018 : 4.65% (+0.01%)
Mortgage rates were steady to slightly higher yet again today. This reinforces our sense from yesterday that rates may have already found their post-Fed floor. The thing that makes today’s modest weakness somewhat surprising is the fact that underlying bond markets actually suggested rates could improve.

More detail: “Mortgage Rates Modestly Higher Despite Stronger Bond Market”

Monday, December 24, 2018 : 4.65% (+0.00%)
Mortgage rates did nothing interesting today, as is typical for the days before and after a major holiday. Tangentially related and significantly more interesting is the President’s criticism of the Fed and Fed Chair Powell. I think this is very much worth discussing around the holiday table (not politics, but rather, fiscal and monetary policy’s effect on interest rates).

More detail: “Trump Vs The Fed: A Public Service Announcement”

Wednesday, December 26, 2018 : 0.00% (+0.00%)
Mortgage rates were unchanged in some cases today and higher in others. The discrepancy is a result of the timing of today’s market movements. The most important thing to know is that lenders who are unchanged today will almost certainly be higher tomorrow, unless the bond market stages an impressive comeback between now and tomorrow morning.

More detail: “Mortgage Rates Higher Today or Tomorrow”

Thursday, December 27, 2018 : 4.64% (-0.01%)
Mortgage rates were unchanged to slightly lower today, which is a major victory considering how yesterday left off. Specifically, bond markets had weakened significantly in the afternoon. Weaker bonds coincide with mortgage lenders raising rates, but only if there’s enough weakness early enough in the day. Yesterday’s pace resulted in some lenders raising rates right away while others put it off until this morning.

More detail: “Mortgage Rates Stay Steady “

Friday, December 28, 2018 : 4.63% (-0.01%)
Mortgage rates moved lower by an almost imperceptible amount today. The improvement was enough to bring the average lender to the lowest levels since the end of August, 2018. In other words, these are the best rates in 4 months. 2 months ago, all hope seemed lost. Rates were the highest in years and there were few reasons to expect the pain to subside, short of a massive meltdown in stocks or a big picture shift in the economy. As you’re likely away, stocks indeed tanked heading into the 4th quarter. And as I’ve mentioned many times since, that stock weakness was largely responsible for rates’ ability to reclaim lost ground.

More detail: “Mortgage Rates End 2018 at 4-Month Lows”

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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 4.63% -0.01
15 Yr FRM 4.19% -0.01
FHA 30 Year Fixed 4.22% -0.01
Jumbo 30 Year Fixed 4.39% -0.01
5/1 Yr ARM 4.59% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 4.15% 1.16 -0.02
30 Yr. Fixed 4.78% 1.15 +0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.96% 0.49 -0.01
15 Yr. Fixed 4.39% 0.50 +0.01
30 Yr. Jumbo 4.93% 0.31 +0.01
30 Yr. FHA 4.95% 0.80 +0.01
5/1 ARM 4.24% 0.48 +0.02
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 4.55% 0.50 -0.07
15 Yr. Fixed 4.01% 0.40 -0.06
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 4.00% 0.30 +0.02

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 97.33 +0.41
30YR FNMA 3.5 99.80 +0.28
30YR GNMA 3.0 98.31 +0.31
30YR GNMA 3.5 100.42 +0.23
15YR FNMA 3.0 99.64 +0.20
15YR FNMA 2.5 97.53 +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 2.5182% -0.0483
5 YR 2.5547% -0.0653
10 YR 2.7200% -0.0538
30 YR 3.0245% -0.0346
Prices as of: 12/28/2018 5:01PM 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.

© 2018 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Weekly Newsletter: Home Price Gains Slowing, Still up 5.5%; Pending Sales Foiled Again; Rates at 4-Month Lows

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weeklynewsletter.png
30 Year Fixed
4.63% -0.01
15 Year Fixed
4.19% -0.01
10YR Treasury
2.72% -0.0521
FNMA 30YR 3.5
99.80 +0.28
FNMA 15YR 2.5
99.64 +0.20
View Today’s Rates
Friday December 28, 2018
MND NewsWire – 12/26
Case-Shiller Says Home Price Gains Slowing, Still up 5.5%
Home prices continued to ratchet down their advances in October, fewer than half of the tracked cities saw prices increase on an unadjusted basis. The slowing is also beginning to show …
MND NewsWire – 12/27
Fannie/Freddie Annual Prices Soften; New Home Sales Delayed
Home prices on the Federal Housing Finance Agency’s (FHFA’s) Housing Price Index (HPI) crept higher in October, although year over year appreciation slowed. FHFA, which remains open …
MND NewsWire – 12/28
Pending Sales; Foiled Again!
Analysts had expected to hear that pending home sales had a good run in November, perhaps even breaking its 10-month streak of year-over-year declines; Econoday went so far as to predict …
Mortgage Rate Watch – 12/28
Mortgage Rates End 2018 at 4-Month Lows
Mortgage rates moved lower by an almost imperceptible amount today. The improvement was enough to bring the average lender to the lowest levels since the end of August, 2018. In other …

Latest Video


Housing market will continue to cool in 2019, says Redfin economist

50 percent chance of a rate cut next year, says Guggenheim’s Scott Minerd

Economic data doesn’t support recession concerns

More News from ‘Around the Web’

newsletter_2D00_mbslive.png

Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 4.63% -0.01
15 Yr FRM 4.19% -0.01
FHA 30 Year Fixed 4.22% -0.01
Jumbo 30 Year Fixed 4.39% -0.01
5/1 Yr ARM 4.59% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 4.15% 1.16 -0.02
30 Yr. Fixed 4.78% 1.15 +0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.96% 0.49 -0.01
15 Yr. Fixed 4.39% 0.50 +0.01
30 Yr. Jumbo 4.93% 0.31 +0.01
30 Yr. FHA 4.95% 0.80 +0.01
5/1 ARM 4.24% 0.48 +0.02
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 4.55% 0.50 -0.07
15 Yr. Fixed 4.01% 0.40 -0.06
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 4.00% 0.30 +0.02

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 97.33 +0.41
30YR FNMA 3.5 99.80 +0.28
30YR GNMA 3.0 98.30 +0.30
30YR GNMA 3.5 100.42 +0.23
15YR FNMA 3.0 99.64 +0.20
15YR FNMA 2.5 97.53 +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
TR_Eikon_Email.png
2 YR 2.5182% -0.0483
5 YR 2.5580% -0.0620
10 YR 2.7217% -0.0521
30 YR 3.0237% -0.0354
Prices as of: 12/28/2018 4:57PM 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.
© 2018 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
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.