Kevin Rhine
Assistant Vice PresidentMortgage Loan Officer
NMLS# 763454 (940) 720-8031 kevin.rhine@unionsquare.org
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Posted To: Pipeline PressSure, you’re making bank now, but are you planning for next year? Is your company doing anything to “team up”? Many lenders, vendors, and real estate companies have strategic partnerships with other companies. There’s strength in numbers, and they are not “against the law”. Here’s a new one. Online real estate company Zillow and D.R. Horton, the nation’s largest builder by sales volume, have announced a new strategic partnership that gives D.R. Horton home buyers the opportunity to sell their existing home through Zillow Offers , providing an easier, more certain move. To start the process, sellers can answer a few questions about their home, upload some photos, and receive a free, no-obligation offer in about 48 hours. There’s lots of things...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMBS Day Ahead: Another Day, Another Record High For MBS
Posted To: MBS CommentaryWhile there's no way to know how the day will wrap up for the MBS market, we know how it's starting out. We also know how 4 of the past 5 days have started out (and wrapped up, for that matter): at all-time highs. The following chart of 2.0 UMBS candlesticks shows the consolidation and resistance around the 103.00 level. The breakout occurred last week, and resulted in a classic case of follow-through from a technical standpoint . Broader bond market trends have been more even-keeled even though we're also seeing what is effectively a record run in 10yr yields (throw out March 9th, and we're at record low yields on 3 out of the past 4 days including today). Although we can place the past few months of movement in a linear trend channel, Treasuries--like MBS--consolidated in...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreNew Mortgage Rate Record; What Is a "Top Tier" Scenario?
Posted To: Mortgage Rate WatchMortgage rates are on a tear, with the average lender easily hitting new all-time lows today. How low is that? At this point it's safe to say that anything over 3% is too high as long as we're talking about a top tier scenario. So let's take a moment to discuss what might separate one scenario from another. 1. Loan-to-Value ratio (LTV) As the name implies, it's the ratio of the proposed new loan amount to the value of the home in question (note that the purchase price is used if it's lower than the appraised value). This one of the two most important considerations that determines the pricing bracket your loan quote would fall into. By the time you get an LTV down under 75%, you're paying almost no additional interest, but there's a very important caveat. 2. Credit Score (FICO) This is the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMBS RECAP: Bonds Continue Pushing The Record Pace, But MBS Are Lagging
Posted To: MBS CommentaryBonds Continue Pushing The Record Pace, But MBS Are Lagging Yesterday we asked what would come next for bonds after breaking through resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next. Such breakouts can be the cue for a corrective bounce or a quick rush of additional momentum. It looks like we're getting the latter, although it's more apparent in Treasuries. MBS are lagging due to increased supply, but prices nonetheless hit new all-time highs. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:17 AM Bonds stronger overnight, largely during European session. Weaker stocks helped. 10yr starting out just under the .54% technical level. MBS are opening more than an eighth of a point higher. 11:31 AM Bonds...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMore Home Buyers are in the Market, but Shopping Takes Longer
Posted To: MND NewsWireIn the second quarter of 2020, 11 percent of American adults were planning on purchasing a home over the next 12 months, and of those, almost half were actively engaged in doing so. Rose Quint, writing in the National Association of Home Builders' (NAHB's) Eye on Housing blog says that the 49 percent who were actively shopping was significantly higher than a year ago when 41 percent were in the game but was identical to the share in Q1. Quint says this suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers. The share of buyers who were actively looking versus thinking about it differs significantly by age group. Of Millennials planning a home purchase in the next year, 57 percent are already actively looking...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreHousing Affordability Best in Four Years, Purchase Rate Locks Surge
Posted To: MND NewsWireThe last report from Freddie Mac put its 30-year fixed rate mortgage (FRM) at 2.99 percent, up 1 basis point from the all-time low. Black Knight, in its new Mortgage Monitor , says that has made home affordability the best in four years. As of mid-July, it required only 19.8 percent of the nation's median monthly income to make the mortgage payment on an average priced home using that 30-year FRM and a 20 percent down payment. That is more than 5 percent below the average over the 1995-2003 period. The required monthly payment, $1,071, is 6 percent less than last July despite an average $12,000 increase in home prices over that same period. After 97 consecutive months, these record-low mortgage rate have made homeownership the most affordable it has been since 2016, and, while many areas, especially...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMore Evidence of Strength in Housing as GDP Tumbles
Posted To: MND NewsWireThe National Home Builders Association (NHBA) has been saying since the COVID-19 virus first began to ravage the economy, that it might be housing that would drive the eventual recovery. Now they have some real evidence. The record setting 32.9 percent second quarter decline in the gross domestic product (GDP) revealed on Thursday had at least one bright spot. NAHB's chief economist Robert Dietz says the share of residential related economic activity reached its highest mark since the third quarter of 2007, increasing to 16.2 percent during the otherwise dismal quarter. Part of the reason for the growing share, of course, was the weakness of other sectors, and the residential fixed investment share held at 3.3 percent of GDP. Housing contributes to GDP in two basic ways. The first, residential...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMBS Day Ahead: Bonds Defend New Territory
Posted To: MBS CommentaryNow that bonds have broken through previous resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next? Rather than look for fast-paced follow-through, it would be enough of a victory to merely see bonds maintain these newly acquired levels. Today we'll discuss what those levels might look like and what we'd need to see for them to persist. The key level for 10yr yields was (and perhaps still is) 0.58%. More than any other level, this marked the bottom of the coronavirus range, even though we'd seen yields move much lower on a single day (March 9th). There were several failed attempts to close below 0.58 in July until it finally gave way last week with Thursday and Friday easily confirming the breakout by maintaining intraday ranges that topped out at .56. A...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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