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MBS RECAP: Friendly Confluence of Events Helps Bond Markets Repair Some Damage
Posted on Friday September 20, 2019

Posted To: MBS Commentary

Last week brought the pain. It was the worst single week for the bond market (if we count MBS) since 2013. Although this week won't break any records, it was a refreshing change of pace, with almost every day seeing decent improvement. Today's gains were the best, but also the most serendipitous. A seemingly insignificant headline about Chinese delegates cancelling a trade meeting with Montana's agricultural bureau sent shockwaves through both sides of the market. Those headlines were flanked by newswires with market-friendly Fed speakers (Clarida and Bullard). Finally, the 3pm CME close brought a friendly imbalance (in our favor) in tradeflows surrounding the monthly options expirations deadline. This is the sort of thing that can help us or hurt us. Today it helped. Next week...(read more)

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Mortgage Rates End Week Near Best Levels
Posted on Friday September 20, 2019

Posted To: Mortgage Rate Watch

What a difference a week makes! At the end of last week, things were pretty grim, with mortgage rates having just seen their worst single week since 2013. The uplifting caveat at the time was that such bouts of nastiness are not that uncommon in the wake of ultra strong performances (such as the entire month of August--the best single month since 2002 if you can believe it!). In other words, last week was a correction to August's impressive strength. With that in mind, this week turned out to be a correction to last week's correction! There was no way to be sure, but we were hoping it was overdone and that bond traders would step in to buy bonds (which pushes rates lower) in response to the big move. That's exactly what happened and it resulted in measured improvements throughout the week....(read more)

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Reverse Daily Mortgage

CFPB Structure Could See Supreme Court Challenge as Enforcement Actions Rise
Posted on Thursday September 19, 2019

The Trump Administration in concert with the Consumer Financial Protection Bureau (CFPB) has asked the United States Supreme Court to take on a case challenging the Bureau’s constitutionality, in a move endorsed by Bureau Director Kathleen L. Kraninger based on a brief obtained by RMD. However, the Bureau’s recorded enforcement actions have increased under Director […]

The post CFPB Structure Could See Supreme Court Challenge as Enforcement Actions Rise appeared first on Reverse Mortgage Daily.

Bloomberg: Reverse Mortgages Continue Booming North of the Border
Posted on Thursday September 19, 2019

The reverse mortgage business across Canada is continuing to prosper, as evidenced by a notable increase in balance figures of more than double compared to figures from 2015. This is according to original reporting by Bloomberg. “Outstanding balances on reverse mortgages have more than doubled in less than four years to C$3.12 billion ($2.37 billion), […]

The post Bloomberg: Reverse Mortgages Continue Booming North of the Border appeared first on Reverse Mortgage Daily.