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Private-label securities are in demand as investors bet Fed peak is reached

Housing Wire

And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” The pool of non-QM borrowers includes real estate investors, fix-and-flippers, foreign nationals, business owners, gig economy workers and the self-employed.

Investors 348
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Pennymac to issue $650M in unsecured debt

Housing Wire

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. In October, HousingWire reported that Freedom Mortgage and PennyMac Mortgage Investment Trust moved to raise money through debt offerings with high investor demand. For example, Freedom raised $1.3 In total, $1.8

Contracts 343
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What would it take to crash the housing market?

Housing Wire

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. million — once that happens, I can take the unhealthy label off the housing market.

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What Fed rate cuts in 2024 will mean for homebuyers

Housing Wire

The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. in 2025, indicating four more 25 bps cuts. Treasuries, which move based on anticipation about the Fed’s actions, what the Fed ends up doing and investors’ reactions.

Inventory 457
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‘Mortgage winter’ is expected to thaw a bit

Housing Wire

Still, an interest-rate drop and soft landing for the economy, if the latter is truly achieved, will break some of the ice in a chilled housing market. Over the next three years, including 2023, [we estimate] sub-$4 trillion [in MSR trades], maybe in the high $3 trillion [range], and again that’s for 2023 through 2025,” Piercy said.

Mortgage 397
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Mortgage rates decline following debt ceiling deal 

Housing Wire

trillion limit until January 2025 and cap government spending. Investors’ eyes are now fixed on the upcoming FOMC meeting, scheduled for June 13 and 14. ” According to Ratiu, the spread between the 10-year Treasury and Freddie Mac’s 30-year mortgage rate remains elevated, mirroring investor uncertainty.

Mortgage 375
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Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. Many of his buyers are still waiting for rates to come down before seeking preapproval for a mortgage. economy remains hot.