Sarah O'Shea Munoz, GRI, ABR, SFR
O'Shea Munoz Homes
101 N Oak Park Avenue
Oak Park, IL 60301
Direct: (708) 359-1570

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Real Estate News
MBS RECAP: Only Volatile if You Were Standing Too Close
Wed, 31 Aug 2016 21:43:44 GMT

Posted To: MBS CommentaryBonds responded generally favorably to the available economic data, which included on-target ADP jobs numbers (177 vs 175k forecast) and weaker Chicago PMI (51.5 vs 54.0 forecast). That only helped us in the morning, however...[read more]

Mortgage Rates Exceptionally Flat
Wed, 31 Aug 2016 21:13:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged today, ending a month without much movement in general. In fact, the most prevalently quoted conventional 30yr fixed rate on top tier scenarios remained in a range of 3.375-3.5% for more tha..[read more]

Pending Home Sales Second Highest in 10 Years
Wed, 31 Aug 2016 14:47:06 GMT

Posted To: MND NewsWireDespite some predictions that pending home sales would fall in July, they actually rose modestly to reach their second highest level in over a decade. The National Association of Realtors® reported that its Pending Home Sal..[read more]

Deep Dive on FHFA's Home Price Figures; Wells on Investing With Imperfect Info
Wed, 31 Aug 2016 14:23:45 GMT

Posted To: Pipeline PressWhat does $24 million buy you in Oregon ? Just find 24 people to pony up a million each. Some economists love to look at the FHFA's housing statistics. Newly minted math and statistics majors, and summer interns, employed by ..[read more]

MBS Day Ahead: Month-End Bond Buying Could Be A Trap
Wed, 31 Aug 2016 13:35:57 GMT

Posted To: MBS CommentaryWho remembers asymptotes from high school? Those are the curved lines that gradually approach a certain level--getting closer and closer, but never reaching it. Sometimes in bond markets, instead of the normal triangular cons..[read more]

Mortgage Apps Eke Out Small Gain
Wed, 31 Aug 2016 12:16:26 GMT

Posted To: MND NewsWireThe volume of applications increased slightly during the week ended August 26 as mortgage rates made minor changes and moved in both directions. The Mortgage Bankers Association (MBA) reported that its Market Composite Index, a..[read more]

MBS RECAP: Uneventful Day For Bonds Confirms Range-Reentry
Tue, 30 Aug 2016 20:24:36 GMT

Posted To: MBS CommentaryToday was very different than the past two days. Friday was one of the biggest days of selling seen during the July/August time frame and yesterday was one of the larger rallies (though neither were especially large in broade..[read more]

Mortgage Rates Back in Familiar Range For Now
Tue, 30 Aug 2016 19:06:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates did one of two things today, depending on the lender in question. Some lenders simply held in line with yesterday's latest levels (in other words, they were 'unchanged' on the day). Other lenders had some ..[read more]

Mortgage Bank Profits Doubled in Q2
Tue, 30 Aug 2016 16:46:34 GMT

Posted To: MND NewsWireMortgage originators surveyed by the Mortgage Bankers Association (MBA) saw production profits more than double in the second quarter compared to what had been a dismal Quarter One. Independent mortgage banks and mortgage subsi..[read more]

Distressed Sales To Remain Elevated into 2019 -CoreLogic
Tue, 30 Aug 2016 16:40:05 GMT

Posted To: MND NewsWireThe share of total home sales made up by distressed properties is now one-quarter the level it was in January 2009. CoreLogic reports that in May the total of foreclosed homes and houses sold through a short sale was 8.4 percen..[read more]

Price Gains Moderating, But Some Metro Areas Stand Out
Tue, 30 Aug 2016 14:38:00 GMT

Posted To: MND NewsWireResults are in for the final two of the four major home price indices for June. Both the S&P CoreLogic Case-Shiller Indices and Black Knight Financial Services' Home Price Index (HPI) show continued price appreciation throughou..[read more]

Trends in FHA & VA; Agency/Lender Changes; Note on Improving Borrower Profiles
Tue, 30 Aug 2016 13:57:27 GMT

Posted To: Pipeline PressI asked my cat Myrtle for her comments on the proposed TRID changes. (Blank stare.“Myrtle, make up your mind – in or out!”) I did, however, receive this note from a veteran broker regarding the changes. &ldq..[read more]

MBS Day Ahead: So What's The "Range-Breaker" Now?
Tue, 30 Aug 2016 13:12:32 GMT

Posted To: MBS CommentaryWith bond markets having clearly consolidated heading into last week's Jackson Hole speeches and with Jackson hole ultimately NOT resulting in a a confirmed break of the consolidative range (see the chart), the next quest..[read more]

Mon, 29 Aug 2016 20:54:16 GMT

Posted To: MBS CommentaryIt's one thing to HOPE that any particular selling spree in bond markets is merely the product of a few temporary events that can be easily explained away. It's another thing to actually bank on it. I don't ever f..[read more]

Mortgage Rates Battle Back From Recent Highs
Mon, 29 Aug 2016 19:59:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were briefly at their highest levels in several weeks on Friday afternoon. This followed comments from the Fed's Jackson Hole symposium. Markets interpreted those comments as the Fed being more likely to h..[read more]

Non-Conventional Financing Continues its Presence in New Home Market
Mon, 29 Aug 2016 18:59:42 GMT

Posted To: MND NewsWireA large contingent of new homes started in 2015 were purchased using non-conventional financing according to a new analysis by the National Association of Home Builders (NAHB). The association's Assistant Vice President for Hou..[read more]

PHH Changes; Bank Branch Trends; Upcoming Events; Hispanic Ownership Trends
Mon, 29 Aug 2016 13:54:38 GMT

Posted To: Pipeline PressIt is hard to argue with nationwide demographic trends , especially when it comes to Hispanic borrowers & first time home buyers in some parts of the nation. Did you know that the three most common last names in California an..[read more]

MBS Week Ahead: Bonds Fight To Remain in Range After Jackson Hole
Mon, 29 Aug 2016 13:33:33 GMT

Posted To: MBS CommentaryFriday was a volatile day for markets as investors were anxiously awaiting comments from Fed Chair Yellen that might speak to the likelihood of a Fed rate hike (or 2?) by the end of 2016. Yellen, herself, didn't provide m..[read more]

MBS RECAP: Yellen Passes Without a Trace. What Now?!
Fri, 26 Aug 2016 19:01:31 GMT

Posted To: MBS CommentaryAll eyes were on Yellen's 10am speech from Jackson Hole, then all eyes were closed as traders fell asleep from boredom. Yellen said nothing we didn't already know, although one headline (about the case for a rate hike..[read more]

Mortgage Rates Slightly Higher After Fed Speakers
Fri, 26 Aug 2016 14:54:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged to slightly lower this morning following the much-anticipated Jackson Hole speech from Fed Chair Janet Yellen. Markets were looking for clues about upcoming rate hikes, but true to form, Yel..[read more]

PMI Insurers Winning FHA Smackdown
Fri, 26 Aug 2016 13:08:42 GMT

Posted To: MND NewsWireAmong the charts and tests summarizing most of the housing finance news that emerged during July, the latest issue of the Urban Institute's (UI's) Housing Finance Chartbook contained a few unique visualizations. First, loans fe..[read more]

HARP Extended; Continued Conventional Conforming Changes
Fri, 26 Aug 2016 13:05:04 GMT

Posted To: Pipeline Press“Rob, have you seen any place where I can see individual lender stats for VA loans?” Sure. Here it is . Knock yourself out. For you CFPB watchers, it has ordered First National Bank of Omaha to provide $108 per he..[read more]

MBS Day Ahead: Today Does Absolutely Nothing For Bigger Picture
Fri, 26 Aug 2016 08:31:03 GMT

Posted To: MBS CommentaryAll too many lookers on--myself included--have made far too much of today's Jackson Hole speech from Fed Chair Yellen (11am ET, we're led to believe). I'm here to make amends for that. It's not that Yellen'..[read more]

MBS RECAP: Markets Offer No Sign of Pre-Yellen Tilt
Thu, 25 Aug 2016 20:14:03 GMT

Posted To: MBS CommentaryAs we discussed this morning, sometimes markets will take a "lead-off" ahead of a big potential market mover if there's an underlying predisposition that traders have been 'hiding' (for lack of a better term). Thi..[read more]

Flat Mortgage Rates Meet Big Potential Volatility
Thu, 25 Aug 2016 19:22:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged , yet again, keeping alive an uncanny streak of lifelessness. That COULD change tomorrow after Fed Chair Yellen's speech at the Jackson Hole symposium, but please note the emphasized word. T..[read more]

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