Joan Capria

Joan Capria
Direct: 845-417-8550
Fax: 845-679-0024
joan@joancapria.com




Real Estate News
MBS Day Ahead: New Home Sales and Second Chances
Fri, 24 Oct 2014 11:22:02 GMT

Posted To: MBS CommentaryWe approached Thursday's session with a mainstream viewpoint and alternative, more bullish possibilities to consider. The mainstream viewpoint (among analysts, strategists, traders, etc) generally held that rates would be..[read more]

Mortgage Rates Actually Moved Higher Today
Thu, 23 Oct 2014 21:38:00 GMT

Posted To: Mortgage Rate WatchMortgage rates did as expected and departed their recently more stable range today. Unfortunately, we got the less enjoyable of the two potential departures with rates moving higher at a moderate pace. At the same time, ..[read more]

MBS RECAP: Bond Markets Weaker; Europe a Bigger Motivator Than Stocks
Thu, 23 Oct 2014 21:33:00 GMT

Posted To: MBS CommentaryToday was decidedly negative for bond markets. 10yr yields found no solace in "the gap" from 2.26 to 2.28 and instead moved right through to 2.30. There are other potentially supportive ceilings overhead, but we would have li..[read more]

Remodeling Market Stability a Positive Sign for Housing
Thu, 23 Oct 2014 18:09:08 GMT

Posted To: MND NewsWireBuilders who engage in home remodeling continue to display confidence in their market the National Association of Home Builders (NAHB) said today. NAHB's Remodeling Market Index (RMI) rose from 56 in the second quarter of 2014 ..[read more]

Negative Equity Falling, but Still Exceeds $1 trillion
Thu, 23 Oct 2014 18:06:09 GMT

Posted To: MND NewsWireThe percentage of American homeowners a mortgage that was seriously underwater fell to 15 percent in the third quarter of 2014 RealtyTrac said on Thursday. There were 8.1 million properties with mortgages that met the company's..[read more]

MBS MID-DAY: The Trend is Not Our Friend
Thu, 23 Oct 2014 17:20:04 GMT

Posted To: MBS CommentaryTreasury yields moved steadily into the important gap between 2.26 and 2.28 this morning and had been holding their ground just under 2.28 for nearly an hour until breaking higher just after 11:45am. The technical follow-thro..[read more]

Bank M&A Momentum; Puts and Calls in Hedging; Should Realtors Help with Remodeling?
Thu, 23 Oct 2014 14:45:22 GMT

Posted To: Pipeline Press"I've decided to sell my Hoover ... well, it was just collecting dust". While we're talking about dust, if you think the drought in California is only a problem for pool owners and golf courses, think again - especially when ..[read more]

MBS Day Ahead: Econ Data Remains Limited and Unimportant; Bonds Minding the Gap
Thu, 23 Oct 2014 11:32:01 GMT

Posted To: MBS CommentaryYesterday morning's notes presented a mostly bullish case for bond markets with today as the first potential break from the corrective/consolidative post-rally weakness. Today, let's talk about what to watch for if th..[read more]

MBS RECAP: Super Flat Day Signals an End to Week-Long Consolidation
Wed, 22 Oct 2014 20:47:22 GMT

Posted To: MBS CommentaryWhen you see the word " consolidation " in market analysis--especially with respect to movement in securities prices/yields--it might as well read "correction." Simply put, a consolidation is the diffusion of the volatility. ..[read more]

Mortgage Rates at a Standstill, but not for Long
Wed, 22 Oct 2014 20:15:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had their single flattest day since October 2nd today. This is the polar opposite of last week's exceptional volatility. The most interesting thing about it is that this is the way rates typically respond ..[read more]

Freddie Mac Economists Prescribe L.I.F.T. for Economy
Wed, 22 Oct 2014 19:26:38 GMT

Posted To: MND NewsWireFrank E. Nothaft and Leonard Kiefer, Freddie Mac's chief and deputy chief economists have come up with a formula for lifting the economy from its continuing low-growth status to a trajectory of robust sustainable growth. And th..[read more]

MBS MID-DAY: Back Near Unchanged Levels After Morning Volatility
Wed, 22 Oct 2014 17:32:45 GMT

Posted To: MBS CommentaryHere's a two-part chart that does a nice job of framing today's activity in both a longer and shorter term perspective. As you can see, we definitely had some bond-market-specific weakness this morning. Unfortunately ..[read more]

Elizabeth Warren Goes After Lenders; Ocwen vs NY Continues
Wed, 22 Oct 2014 14:49:17 GMT

Posted To: Pipeline PressIf I was going to build a house, I'd want to make sure it was on the right lot. For some folks that doesn't work out so well - thanks to Ali F. for sending this in. As the MBA's conference wraps up today in Las Vegas without ..[read more]

Best Week of Year for Refis; MBA sees Purchase Loan gains Next Year
Wed, 22 Oct 2014 12:52:55 GMT

Posted To: MND NewsWireFalling interest rate precipitated a major refinancing rally during the week ended October 17 even though Columbus Day shortened the business weeks in some locations. The Mortgage Bankers Association's (MBA's) Refinance Index j..[read more]

MBS Day Ahead: One Reason Bonds Might be Close to Rallying Again
Wed, 22 Oct 2014 11:36:11 GMT

Posted To: MBS CommentaryIt's been a pretty boring and consolidative week for bond markets so far, so let's have some fun. What follows is essentially a bullish case for bond markets, and you should be aware of some caveats before we begin. 1..[read more]

MBS RECAP: Bond Markets Holding up Well Against Stock Market Strength; MBS Better Still
Tue, 21 Oct 2014 21:14:34 GMT

Posted To: MBS CommentaryIt turned out to be an exceedingly uncomplicated day for Treasuries by the time US trading hours rolled around. Before that, yields moved sharply higher in the overnight session after news of potential ECB corporate bond buyi..[read more]

Mortgage Rates Sideways to Slightly Higher
Tue, 21 Oct 2014 20:18:00 GMT

Posted To: Mortgage Rate WatchMortgage rates continue to bide their time , holding just under 4 percent on average. Some borrowers might see their quote move up .125% from yesterday, but others will be quoted the same rate with slightly higher closin..[read more]

No Surprise: Final QRM Rule Closely Follows QM
Tue, 21 Oct 2014 19:03:02 GMT

Posted To: MND NewsWireFinancial regulators on Tuesday finally released the final rule defining Qualified Residential Mortgages (QRM). The definition is intended to determine which loans are exempt from the risk retention requirements of the Dodd Fra..[read more]

MBS MID-DAY: Bond Markets Improving Despite Stronger Data and Stocks
Tue, 21 Oct 2014 16:10:06 GMT

Posted To: MBS CommentaryThis morning's day ahead commentary asked "will bonds continue to defy stocks?" The answer appears to be an emphatic " yes !" The S&P is up well over 20 points from opening levels and right around 30 points from yesterday..[read more]

Existing Homes Selling at Year's Fastest Pace
Tue, 21 Oct 2014 15:44:55 GMT

Posted To: MND NewsWireExisting home sales, which ended four straight months of gains with a 1.8 percent decline in August, bounced back in September the National Association of Realtors® (NAR) said today. Sales increased 2.4 percent to a seasona..[read more]

NY Finally has its own MBA; Accronym Update: QRM, NMLS, CFPB, FHFA, & HUD
Tue, 21 Oct 2014 14:57:41 GMT

Posted To: Pipeline PressI was dealt a serious setback yesterday here at the MBA conference, being held in the immense Four Seasons, Mandalay, Delano, conference center complex. While among the slot machines (the two that stand out are "Pirate's Boot..[read more]

MBS Day Ahead: Will Bonds Continue to Defy Stocks?
Tue, 21 Oct 2014 11:34:04 GMT

Posted To: MBS CommentaryWill bond markets be able to hold their ground if equities make more meaningful gains today? I don't know but they did yesterday, and it was the best such performance since mid September. In fact S&P futures were up over ..[read more]

MBA's Stevens: No Sense Pining for the way it used to be
Mon, 20 Oct 2014 21:02:37 GMT

Posted To: MND NewsWireDavid Stevens, President of the Mortgage Bankers Association (MBA), told an audience attending the association's s annual convention in Las Vegas that the rules for Qualified Residential Mortgages will be, as rumored, released ..[read more]

MBS RECAP: Bond Markets Refreshingly Resilient Against Stock Market Gains
Mon, 20 Oct 2014 20:59:35 GMT

Posted To: MBS CommentaryTreasuries and MBS didn't end up making much progress today. Fannie 3.5s are only 2 ticks higher than they were at the close on Friday and 10yr yields aren't even 1bp lower. But bond markets were still arguably succes..[read more]

Watt Focuses on Reps/Warrants; 97% GSE Loan Mentioned Only in Passing
Mon, 20 Oct 2014 20:31:44 GMT

Posted To: MND NewsWireFederal Housing Finance Agency (FHFA) Director Melvin L. Watt focused his remarks to attendees at the Mortgage Bankers Association annual conference on the issue of representation and warranties. He acknowledged that fears of b..[read more]

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