Kevin Rhine
Assistant Vice PresidentMortgage Loan Officer
NMLS# 763454 (940) 720-8031 kevin.rhine@unionsquare.org
Mortgage News
Underwriting, MLO Jobs; DPA, Non-QM, Customer Service Tools; Misc. Company News Indicates Trends
Posted To: Pipeline PressLet me start Friday with an apology… to Alaska. (I thought I saw an eye doctor on an Alaskan island, but it turned out to be an optical Aleutian.) Julie Moore (with Alaska USA Federal Credit Union) pointed out that, given my note yesterday about Jacksonville, FL being the largest city in the U.S., “While Jacksonville might be the largest city by geographic area in the contiguous United States, it is actually the fifth largest city in the entire United States. The first four largest cities, by geographic area in square miles are: Sitka, 4,811, Juneau, 3,254, Wrangell, 3,462, and Anchorage, 1,961. Thank you, Julie! (Editor’s note: Alaska is more than twice the size of Texas.) Something else to pay attention to is what lenders are thinking as we head into the summer, which is...(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: Weaker Retail Sales Casts Vote For Range-Holding
Posted To: MBS CommentaryWednesday's CPI data was akin to some passionate political orator making a case for the country to go to war against low rates. Yesterday's 30yr bond auction stepped in with a "not so fast" counterpoint, and now today's Retail Sales data (0.0 vs 1.0 forecast) gives us hope that cooler heads will prevail. Bottom line, as of this morning mid-week drama looks to have given way to the same old trading range that's been intact since April 7th. Specifically, a ceiling near 1.68% in 10yr yields is what we're hoping to hold. The morning's other data is less significant from a potential market movement potential standpoint, but isn't completely irrelevant. In fact, we know the Fed is keeping an eye on consumer inflation expectations and the 10am Consumer Sentiment...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreRates Remain Resilient After Inflation Scare
Posted To: Mortgage Rate WatchThe 70's and 80's brought unforgettable economic lessons about inflation. Since then, certain market participants have been watching inflation like hawks , even when they didn't need to. After the start of the pandemic, the massive amount of fiscal stimulus (covid relief bill) and monetary accommodation from the Fed (bond buying and rate cuts) had inflation hawks on high alert . Fed speakers have been consistent in their response: yes , inflation was likely to spike this spring for a variety of reasons, but it wouldn't necessarily be evidence of a sustainable shift. Inflation can be measured in a few ways, but the most basic and most popular is via price indices published by the government. The Consumer Price Index (CPI) is one of the two dominant forces in that regard and this week brought...(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 Hold Their Ground After Weaker Data
Posted To: MBS CommentaryWeaker Retail Sales Casts Vote For Range-Holding Wednesday's CPI data was akin to some passionate political orator making a case for the country to go to war against low rates. Yesterday's 30yr bond auction stepped in with a "not so fast" counterpoint, and now today's Retail Sales data gives us hope that cooler heads will prevail. Bottom line, as of this morning mid-week drama looks to have given way to the same old trading range that's been intact since April 7th. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Retail Sales 0.0 vs 1.0 f'cast, 10.7 prev Consumer Sentiment 82.8 vs 90.4 f'cast, 88.3 prev inflation expectations (1y) 4.6 vs 3.4 prev (5y) 3.1 vs 2.7 prev Market Movement Recap 08:52 AM Flat in Asia. Modestly stronger in Europe, and now flat ...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMLO, Ops Jobs; Cross-Border Lending, Processing, Recruiting Products; MBS Issuance Webinar; Quicken
Posted To: Pipeline PressPeople around the nation are “voting with their feet.” Illinois: Seven straight years of population declines . California: Losing population during a year for the first time in history . Do you ever think about the fact that one city, Shanghai, China, has more people living in it than every state besides California and Texas? (Area-wise, what is the largest city in the United States? That title goes to Jacksonville at 875 square miles, elevation 16 feet.) Did you know that over 80 percent of people who move stay in the same state? One wonders, if higher income people are leaving a particular state, does that create a bigger burden on those who remain, which encourages more departures? Provo-Orem, Utah, Coeur d'Alene, Idaho, and Reno, Nevada, are the top three high-end markets to...(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: We'll Know More About The Ceiling After 30yr Bond Auction
Posted To: MBS CommentaryBonds are off to a much better start today vs yesterday (it wouldn't take much, consider yesterday was the worst day in 2+ months). This morning's producer-level inflation data was also stronger than expected, but fortunately, it's not nearly the same sort of market mover as yesterday's consumer-level data. 10yr yields seem mostly comfortable staging around the 1.68% level and deciding on their next big move after this afternoon's 30yr auction. The 1.68 level can be thought of as the lower end of a small zone, actually, with the higher end at 1.70. That helps the last 24 hours do a better job of conveying the sense of "staging" mentioned above. Revisionist history? Sure, a bit, but there were two days with relevant bounces closer to 1.70 in April. All that to say...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreNext New Home Sales Report Should End Slump -MBA
Posted To: MND NewsWireThat applications for mortgages to purchase newly constructed homes rose 30.8 percent in April compared to a year ago is not a particularly useful piece of data given the state the global economy was enduring in April 2021. However, it is good news that the Mortgage Bankers Association (MBA) estimates that new home sales are expected to increase by 8 percent when the April numbers are published. MBA says its estimate of new home sales at an annualized rate of 770,000 units means an end to a two-month slump but, while strong, it is still below the 877,000 unit pace at the end of last year. Mortgage applications were also down month-over-month by 9 percent. The change in application volume does not include any adjustment for typical seasonal patterns. Joel Kan, MBA's Associate Vice President...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read MoreMortgage Rates Are Actually HIGHER This Week
Posted To: Mortgage Rate WatchIt's Thursday and, thus, time once again to check in with the slew of mortgage rate headlines that typically follow the release of Freddie Mac's weekly mortgage rate survey. Here are a few choice selections: "U.S. Mortgage Rates Fall for Second Week" "Mortgage Rates Continue to Decline" "30-year mortgage rates fall to 3-month low" And so on and so on... The only issue here is that they're all wrong . Rates aren't lower today, nor are they lower this week, nor are they at the lowest levels in 3 months. They're actually at their highest levels in several weeks! You may be wondering who's lying to you at this point, but rest-assured, there is no intentional deception. Quite simply, my claims above take TODAY'S rates into consideration whereas the more upbeat headlines generally pertain to rates...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Read More
