H.B. Fuller’s (FUL) Engineering Adhesives segment, a new operating segment as of 1Q16, reported 3Q16 revenue of $61.4 million, or 11.9% of the company’s total revenue.
The FOMC meets on July 26 and 27. Two weeks ago, it was a non-event. The market has been raising its estimates for the federal funds rate by the end of 2016.
Borrower behavior is heavily influenced by consumer protection laws—particularly at the state level. States that require a judicial review of foreclosure activity tend to have higher delinquency rates.
The “elephant in the room” at the Fed is that rates need to return to more normal historical levels at some point. This will be in the context of a massive Fed balance sheet. This creates issues on many different levels.
The increase in rates has basically put prepayment worries on the back burner for REITs. The lack of a reaction in the refinance index on the back of a drop in rates could mean we’re finally seeing prepayment burnout. This would be good news for REITs.
Mortgage REIT investors have finally gotten a taste of what interest rate risk looks like over the past year. For most of the past 30 years, bonds have been a one-way bet.
This also means a REIT will experience a volatile dividend. Most corporations loathe cutting their dividend because of the message it sends to Wall Street, so volatile dividends are generally rare. For REITs, they’re a fact of life.
In the judicial states—particularly New York, New Jersey, and Connecticut—we’re seeing much lower home price appreciation— in fact, there’s very little residential construction at all
Mortgage REIT investors have finally received a taste of what interest rate risk looks like over the past year. For most of the past 30 years, bonds have been a one-way bet.
Most corporations loathe cutting their dividend because of the message it sends to Wall Street, so volatile dividends are generally rare. For REITs, they’re a fact of life.
Because there’s no risk of principal loss—not to be confused with mark-to-market issues—the rate of return for mortgage-backed securities is generally low.
HARP was designed to help people who wanted to stay in their home and who had adjustable-rate mortgages where they wouldn’t be able to afford the payment once the mortgage adjusted upward.
The 7.6% year-over-year gain was the second highest since mid-2006, and it puts the index back at April 2005 levels. The rate of price appreciation appears to be slowing.
The MBA Refinance Index increases again after the Fed maintained its pace of QE (quantitative easing) The Refinance Index fell 1.3% (from 2,061 from 2,034) in spite of the bond market rally on the back of a solution to the shutdown. The bond market has been readjusting to the idea that we may see the […]
The MBA Refinance Index increases again after the Fed maintains its pace of QE (quantitative easing) The Refinance Index rose 3% (to 1,947 from 1,889) after the Fed decided to maintain its current pace of asset purchases. The bond market has been re-adjusting to the idea that we may see the end of quantitative easing soon, and […]
The Federal Housing Finance Agency (FHFA) House Price Index The FHFA House Price Index differs from the other house price indices like Case-Shiller and Radar Logic in that it only looks at houses with mortgages guaranteed by Fannie Mae and Freddie Mac. This means all the home prices are below the conforming threshold, which is $417,000. It […]
The Home Affordable Refinance Program permits homeowners with negative equity in their homes to refinance at today’s lower rates The Home Affordable Refinance Program was instituted in 2009 to allow homeowners with negative equity to take advantage of today’s low interest rate environment. Before HARP, banks wouldn’t lend more than the home’s value. In real-estate […]
Back to Part 3 The MBA Refinance Index falls for the eighth straight week The Refinance Index fell to 0.1% (to 2,247 from 2,245) in the context of a volatile week in the bond market. The bond market has been re-adjusting to the idea that we may see the end of quantitative easing in fall. That said, […]
Back to Part 2 The Fed’s comments on monetary policy The Fed received a number of complaints regarding the move in interest rates over the past couple of months. Many members of Congress were alarmed at the increase in rates, and many worried that it would dampen the recovery. Bernanke referred to the June comments […]
The MBA Refinance Index is an important index that forecasts mortgage activity and prepayments The Mortgage Bankers Association (MBA) Index of Refinance Activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
The MBA Refinance Index is an important index that forecasts mortgage activity and prepayments The Mortgage Bankers Association (MBA) Index of Refinance Activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
The Federal Housing Finance Agency (FHFA) House Price Index The FHFA House Price Index differs from the other house price indices like Case-Schiller and Radar Logic in that it only looks at houses with mortgages guaranteed by Fannie Mae and Freddie Mac. This means all the home prices are below the conforming threshold, which is $417,000. […]
The MBA Refinance Index is an important index that forecasts mortgage activity and prepayments The Mortgage Bankers Association (MBA) Index of Refinance Activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
The MBA Refinance Index is an important index to forecast mortgage activity and prepayments The Mortgage Bankers Association (MBA) Index of Refinance Activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
The MBA Refinance Index is an important index to forecast mortgage activity and prepayments The Mortgage Bankers Association (MBA) Index of Refinance Activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
The Standard and Poor’s/Case-Shiller index of real estate prices increased 10.9% year-over-year in March, hinting that the real estate market bottomed around this time last year. The Case-Shiller index The Case-Shiller index is the most widely quoted index of real estate values. Real estate values are big drivers of consumer confidence and spending, and, therefore, […]
The MBA Refinance Index is an important index to forecast mortgage activity and prepayments The Mortgage Bankers Association (MBA) index of refinance activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
The MBA Refinance Index is an important index to forecast mortgage activity and prepayments The Mortgage Bankers Association (MBA) index of refinance activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market […]
