Market Update, Monday, June 29, 2020
Stocks opened higher following last week’s rout as investors weigh the increase in coronavirus cases
against extra liquidity in the markets from central bank and government stimulus programs.
Market Update, Friday, June 26, 2020
Stocks opened lower amid concerns of new restrictions on reopening the economy as the U.S. saw another single day record in daily Coronavirus confirmations.
Market Update, Thursday, June 25, 2020
Stocks opened lower following the worst one-day skid since June 11 on Wednesday.
Market Update, Wednesday, June 24, 2020
Stocks opened lower after confirmed cases of the Coronavirus jumped in several states including: Arizona, Texas, and California, each experiencing new single day records on Tuesday.
Announcement: FNMA & HomeReady Product Guideline Updates
FNMA has recently made guideline changes to FNMA and HomeReady Products.
Market Update, Thursday, June 18, 2020
Mortgage supply picked up to $7B on the day while demand was tepid. The NY Fed will conduct two purchase operations totaling up to $4.349B starting with $1.372B UMBS15 2% and 2.5% at a 11:50am ET followed by $2.977B UMBS30 2% through 3% at 1:20pm ET.
Market Update, Wednesday, June 17, 2020
This morning the MBA mortgage applications index rose 8.0% in the week ending June 12th after rising 9.3% in the prior week. Purchases were up 3.5% after rising 5.3% in prior week, and refis increased 10.3% after rising 11.4% in prior week.
Market Update, Tuesday, June 16, 2020
The 10-year note settled a tick lower at 0.702% yield. Mortgage trading volumes were light vs. recent averaged. The central bank’s aggregate mortgage buying was $4.7B, mostly unchanged from the previous session’s $4.5B. The most heavily purchased was the UMBS 30-year 2.5% at $1.8B.
Announcement: Eliminating WVOE Only Program
Effective for new loans submitted by brokers (TPO submitted date) on or after June 16th, we will no longer be accepting any loan under any program with an WVOE only.
Market Update, Thursday, June 11, 2020
Mortgage origination volume came in at $8.14B, slightly higher than the five-day average of $8.05B.
In yesterday’s Federal Reserve MBS Purchase Operations, the Fed purchased, $1.1B G2SF 2.5%, and $400M G2SF 3.0%. In Agency 30-year, the Fed purchased $766M FNCL 2.0%, $1.73B FNCL 2.5% and $474M FNCL 3.0%. Federal Reserve MBS purchase operations scheduled for today include 15-year Uniform MBS 2.0% and 2.5%, totaling $1.575B, and 30-year Uniform MBS 2.0-3.0%, totaling $2.97B.