Sarah O'Shea Munoz, GRI, ABR, SFR
O'Shea Munoz Homes
101 N Oak Park Avenue
Oak Park, IL 60301
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Real Estate News
MBS RECAP: Much Weaker After Data, but Still in Same Old Range
Fri, 13 Jan 2017 21:54:52 GMT

Posted To: MBS CommentaryGranted, we might wake up next Tuesday (markets are closed Monday) to find that bonds are quickly breaking out of the recent range. But as for this week, the 2.34%-2.42% range in 10yr yields remained intact. There were severa..[read more]

Mortgage Rates End Week at Highs
Fri, 13 Jan 2017 20:44:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved higher today , even after many lenders offered mid-day improvements in the afternoon. Bond markets (which underlie rate movement) reacted negatively to this morning's economic data. The biggest repor..[read more]

Carson will "Examine" FHA Premium Cut
Fri, 13 Jan 2017 16:33:50 GMT

Posted To: MND NewsWireThe surprise reduction in FHA annual premiums announced last week by the current Secretary of Housing and Urban Development (HUD) may not survive long into the new administration. Ben Carson, M.D. President-elect Donald Trump's..[read more]

Primer on HUD and Carson Testimony, Thoughts on MIP Cut, and Reduced Government Footprint
Fri, 13 Jan 2017 14:05:35 GMT

Posted To: Pipeline PressThe average person in the residential lending sector would be hard pressed to say what Julian Castro, the current Secretary of HUD, does , or what role he serves. (Kind of like asking someone what gluten is.) We should rememb..[read more]

MBS Day Ahead: First and Only Major Econ Data of The Week
Fri, 13 Jan 2017 13:26:30 GMT

Posted To: MBS CommentaryBond markets are beginning the day slightly stronger ahead of the week's only significant economic data. The 8:30am time slot brings Retail Sales (expected at +0.7) and Producer Prices (core year-over-year expected to dro..[read more]

MBS RECAP: Bonds Pull Back to Unchanged After Speculative Surge
Thu, 12 Jan 2017 23:27:25 GMT

Posted To: MBS CommentaryIn glancing at various trader/analyst/strategist emails, I see perhaps a greater diversity of opinions about today than of any other recent trading day. Some thought it was strong --a confirmation of yesterday's move belo..[read more]

Mixed Bag For Mortgage Rates Amid Market Volatility
Thu, 12 Jan 2017 22:33:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were mixed today , depending on the lender. Discrepancies between lenders have been higher than normal over the last 24 hours for several reasons. This began yesterday when bond markets improved enough for..[read more]

Trulia Notes Increasing Incidence of Failed Sales
Thu, 12 Jan 2017 14:40:06 GMT

Posted To: MND NewsWireIt ain't over 'til it's over, and that seems to be increasingly true of contacted home sales. Trulia reported on Wednesday that, "Deals to sell homes are falling through at a faster rate than they were a year ago and it's agree..[read more]

MBA Expects December Decline in New Home Sales
Thu, 12 Jan 2017 14:32:31 GMT

Posted To: MND NewsWireNew home sales are projected to fall in December relative to November, not an unexpected pattern as the year-end holidays approach. The Mortgage Bankers Association (MBA) says its Builder Applications Survey (BAS) for the month..[read more]

Reverse Mortgage Trends: NY Proposal, HECM Purchase Program, and Upcoming Conference
Thu, 12 Jan 2017 14:29:26 GMT

Posted To: Pipeline PressEver wondered how much Ben Carson is worth, where he puts his money, and how much money he earns? Here you go . His hearing is today for the HUD spot. "'s difficult for a child to learn at school if he or she doesn't hav..[read more]

MBS Day Ahead: Downtrend Taking Shape; Focusing on Stocks and Technicals
Thu, 12 Jan 2017 13:28:27 GMT

Posted To: MBS CommentaryAs the new year continues, a common new year's theme is in full effect: the stock/bond correlation. Stocks and bonds frequently move together over short time frames (but not over super long time frames). The beginning of ..[read more]

MBS RECAP: Decent Day for Bonds, Despite Complexity and Volatility
Wed, 11 Jan 2017 22:09:36 GMT

Posted To: MBS CommentaryToday was one of the more complex trading days we've had recently. Three things were certainly in play and 2 of them were interdependent. 1. Stocks 2. Trump's Press Conference 3. 10yr Treasury auction Bonds weren'..[read more]

Mortgage Rates Lowest in Nearly 2 Months
Wed, 11 Jan 2017 20:57:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell today , in many cases to levels not seen in well over a month . The average lender was just a hair better than last Thursday, meaning you'd have to go back to November 17th to see anything better. 4.1..[read more]

The Ceaseless Lender and Investor FHA, VA, Fannie, Freddie Program Changes
Wed, 11 Jan 2017 14:24:40 GMT

Posted To: Pipeline PressWhile rumors swirl about the topic for the phone call with Stearns Lending’s correspondent-wide staff today (let’s hope its good news), Richard Cordray’s job future, and more retail layoffs (this time Walmar..[read more]

MBS Day Ahead: Waiting For a Range Break, and 10yr Treasury Auction
Wed, 11 Jan 2017 13:45:17 GMT

Posted To: MBS CommentaryTo a significantly greater degree than yesterday's 3yr Treasury auction, today's 10yr auction will have the power to confirm a trend we were beginning to see at the end of last year. Namely, that investors had finally..[read more]

Applications Continue Stabilizing as Rates Recover
Wed, 11 Jan 2017 13:22:51 GMT

Posted To: MND NewsWireMortgage applications continue to decompress from the two-week holiday moratorium as well as from the usual holiday business interruptions, so it is hard to know where volumes really stand. The Mortgage Bankers Association's (M..[read more]

MBS RECAP: Bonds Uneventfully Hold Narrow Range
Tue, 10 Jan 2017 22:27:39 GMT

Posted To: MBS CommentaryToday was about as tame as they come for bond markets, post-election. 10yr yields traded a high of 2.394 and a low of 2.361. That's a very narrow day by recent standards, and if we look only at domestic hours, the range i..[read more]

Mortgage Rates Staying Steady in New, Lower Range
Tue, 10 Jan 2017 21:32:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were slightly higher today, but remain in much better shape overall when compared to the last month of 2016. In many ways, the new year marked a shifting of gears for rates, or rather, the bond traders who..[read more]

Everything You Ever Wanted to Know About Housing in 2014-15
Tue, 10 Jan 2017 14:49:59 GMT

Posted To: MND NewsWireIt is a bi-annual bonanza of data for anyone in need of facts about housing in America and how people use it. The 2015 edition of the American Housing Survey (AHS), sponsored by the Department of Housing and Urban Development a..[read more]

Foreclosures Approach Normal Level
Tue, 10 Jan 2017 14:36:07 GMT

Posted To: MND NewsWireForeclosures are, at long last, approaching what CoreLogic says was the level in the pre-crisis environment . The company's November National Foreclosure Report puts the number of foreclosures completed during the month at 26,0..[read more]

Cybersecurity Training and Other Events; FHA's Premium Cut Helpful for Some; Vendor Updates
Tue, 10 Jan 2017 14:17:59 GMT

Posted To: Pipeline PressWhat does $1.38 million, uh, I mean $138 thousand, buy you in South Dakota ? (Of course the heating bill is $3,000 a month...) Buying it may be a little easier with the FHA reducing its annual mortgage insurance premium (MIP)..[read more]

MBS Day Ahead: Auction Cycle Begins; Data Stays Light
Tue, 10 Jan 2017 13:47:05 GMT

Posted To: MBS CommentaryOne day down and 2 more to go without meaningful economic data. That didn't stop bonds from having a good day yesterday, but the gains were largely driven by European trading overnight. Treasuries have been less keen to f..[read more]

MBS RECAP: Uneventful Gains and a Discussion About "Escape Velocity"
Mon, 09 Jan 2017 23:29:18 GMT

Posted To: MBS CommentaryIt was almost a wholly uneventful day for bond markets. If not for the fact that trading levels improved day-over-day, there wouldn't be much to talk about apart from technicals. For more on the relevant technicals , chec..[read more]

Mortgage Rates Recover Most of Friday's Losses
Mon, 09 Jan 2017 23:28:00 GMT

Posted To: Mortgage Rate WatchMortgage rates recovered much of Friday's losses today, moving back near the lowest levels in more than a month. To be fair, that's a claim they could have made on Friday, which was still the 2nd best day in a month desp..[read more]

Rising Rates Hurting Homebuyer Sentiment -Fannie
Mon, 09 Jan 2017 20:08:25 GMT

Posted To: MND NewsWireConsumer perceptions about rising interest rates and stagnant income levels were the main contributors to a half-point decrease in Fannie Mae's Home Purchase Sentiment Index ® (HPSI) in December. The HPSI, which reflects ke..[read more]

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