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MBS RECAP: Stocks Lose, Rates Recover on Tax Bill Fears
Posted on Thursday December 14, 2017

Posted To: MBS Commentary

Bonds began the day in weaker territory partly due to a correction from yesterday's strong run in the afternoon, and partly due to stronger economic data in Europe. Domestic economic data was stronger too, with Retail Sales coming in at 0.8 versus a median forecast of 0.3. The previous reading was also revised up to 0.5 from 0.2. In the past, bonds might have cared more about that sort of data, but at present, there are bigger fish to fry. After yesterday's scheduled detour for inflation and the Fed (2 things that were expected to move markets despite NOT being "the tax bill"), it was back to focusing on the tax bill today. Senators Lee and Rubio threatened to vote "no" on the tax bill unless certain changes were made regarding child tax credit refunds. The release...(read more)

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Mortgage Rates Hold On to Lower Levels After Tax Bill Doubts
Posted on Thursday December 14, 2017

Posted To: Mortgage Rate Watch

Mortgage rates held on to yesterday's gains in most cases. Some lenders were even in slightly better shape today, but not enough to have an effect on anything beyond the upfront costs associated with any given rate quote. Rates themselves would be right in line with yesterday's. That's not a bad thing considering yesterday afternoon brought effective rates near their lowest levels of the month. In this case, lower "effective rates" refer to lower upfront closing costs (or higher lender credits) for the prevailing top tier conventional 30yr fixed rates of 4.0%. Bond markets (which underlie interest rate movement) continued to pay more attention to policy developments than the economic data that traditionally has an impact. In today's case, it was news that a few Republican senators may not vote...(read more)

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Reverse Daily Mortgage

Many Consumers Wary of Reverse Mortgages, But Willing to Learn
Posted on Thursday December 14, 2017

The National Council on Aging shook up the reverse mortgage industry earlier this year with a study showing that consumers were turned off by the name of the products. But according to a lead NCOA researcher, the results also proved that consumers are open and willing to receiving education about Home Equity Conversion Mortgages. ‚ÄúPeople […]

AAG to Open New Office for Sales, Marketing Teams
Posted on Thursday December 14, 2017

American Advisors Group this week announced the opening of a new office for its sales and marketing staffs, marking its second such expansion in 2017. The Orange, Calif.-based reverse mortgage lending giant will begin leasing nearly 65,000 square feet of office space at Irvine Towers in Irvine, Calif. next spring, with the sales and marketing […]