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MBS RECAP: Quiet Trading Week Leaves Focus on Brexit Weekend
Posted on Friday October 18, 2019

Posted To: MBS Commentary

Today was a throw-away day for the bond market. Yields matched their narrowest trading range of the week and ended the day at their most 'unchanged' levels of the week (i.e. closest to the previous day's close). In addition, Friday's close was only 2bps away from last Friday's close. Translation: bonds did a GREAT job of QUICKLY getting into position for upcoming risks after LAST WEEK'S Brexit news. You'd be forgiven if you forgot about this one already, but I'm referring to the meeting that took place between Boris Johnson and the Northern Irish PM Varadkar. That meeting introduced the prospect of a last minute Brexit deal. Bonds jumped accordingly (perhaps with some help from the trade deal announcement the following day) and the waiting game began. As of tomorrow...(read more)

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Here's Why Rates Were Flat This Week (And Why That Should Change)
Posted on Friday October 18, 2019

Posted To: Mortgage Rate Watch

Mortgage rates were flat today. In fact, they were very close to being flat on the week for that matter! This is a reflection of the bond markets current set of concerns, which really came into focus late last week with Thursday's Brexit-related news and Friday's trade deal updates. Brexit refers to the UK's attempts to exit the EU. As esoteric of a concern as that may seem, it's something that the bond market (and hence, interest rates) quite clearly cares about. Last Thursday's unexpected progress between Boris Johnson and Northern Ireland's Prime Minister sent rates screaming higher at their fastest pace in months. I could also argue that much of the damage that seemed to have been done by Friday's US/China trade news was instead follow-through momentum from Thursday's Brexit-inspired move...(read more)

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Reverse Daily Mortgage

Resolute Bank Exits Reverse Mortgage Business
Posted on Thursday October 17, 2019

Maumee, Ohio-based Resolute Bank has ceased originating Home Equity Conversion Mortgage (HECM) loans, RMD has learned. A company representative confirmed by phone that Resolute stopped offering reverse mortgages within the last month. Resolute Bank President Kevin Rahe told RMD that the exit had very little to do with reverse mortgage-specific issues such as changes made […]

The post Resolute Bank Exits Reverse Mortgage Business appeared first on Reverse Mortgage Daily.

Aging in Place Threatened by Rising In-Home Care Costs
Posted on Thursday October 17, 2019

The costs associated with “homemaker” services – which assists older adults with tasks including cooking, cleaning, and running errands – and home health aides – who assist older adults with bathing, dressing and eating – are rising at a faster rate than nursing home care, making assistance with basic tasks more expensive. This is according […]

The post Aging in Place Threatened by Rising In-Home Care Costs appeared first on Reverse Mortgage Daily.