Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Plus the mortgage bond outlook, the NYT joins the GSE investor struggle, and more

Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

LandCastle Title’s operations will not be affected

8 avoidable mistakes first-time homebuyers keep making

Stop doing these things
W S

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Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Plus the mortgage bond outlook, the NYT joins the GSE investor struggle, and more
Trey Garrison
Going into the second half of 2015, where is the housing recovery, and is it strong enough to deal with what many say is still an inevitable rate hike? Plus a look at price growth, agency MBS, the latest turn in FannieGate, and more. Read on.
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Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

LandCastle Title’s operations will not be affected
Ben Lane
One source told HousingWire that MSW — a Georgia-based law firm that made national headlines last year when the firm sued its former managing partner for allegedly embezzling $30 million from the firm’s accounts and the accounts of the firm’s subsidiary, LandCastle Title — has not yet filed bankruptcy, perhaps due to the looming July 4th holiday, but the source expects the firm to file as early as Monday.
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Corpse found in $1M San Francisco house for sale

Price could go higher
Brena Swanson
Despite finding a mummified corpse of the homeowner in a Lake District Victorian house for sale in San Francisco, the house still received a $1 million bid.
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Jean-Claude Van Damme lists $10M seaside LA house

Nearly $4M more than he paid
Brena Swanson
One of Hollywood’s most famous martial arts-trained actors, Jean-Claude Van Damme, put his beautiful seaside mansion in Marina Del Rey up for sale for $9.9 million.
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SEC fines hedge fund advisor for inflating mortgage bond prices

AlphaBridge Capital Management clients charged higher fees
Ben Lane
The Securities and Exchange Commission fined a Connecticut-based hedge fund advisory firm for fraudulently inflating the prices of residential mortgage-backed securities in hedge fund portfolios it managed.
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8 avoidable mistakes first-time homebuyers keep making

Stop doing these things
Brena Swanson
The last thing a first-time homebuyer wants to do is mess the entire homebuying process by doing one of these common mistakes. Here are mistakes 8 things that could ruin the homebuying process.
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Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
Trey Garrison
If you liked the NSA spying on innocent Americans, you’ll love what the CFPB is up to. Plus, is the mortgage industry ready for the coming surge of minority homebuyers, Dodd-Frank is turning five this month, and more.
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Freddie Mac: Mortgage rates increase to 2015 highs

Rise moving into holiday
Brena Swanson
Mortgage rates increased to new 2015 highs moving into the holiday weekend, with the 30-year, fixed-rate mortgage averaging 4.08% for the week ended July 2. Here's why.
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This 1 MBA chart shows how ARMs are hitting a 2015 highpoint

Adjustable share should continue growing as rates rise
Trey Garrison
The adjustable rate mortgage share of mortgage applications reached its 2015 high at 7% in late June, and as interest rates rise there's more ground for ARMs to make up.
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U.S. employers added fewer jobs than expected in June

Hourly earnings flat, more drop out of workplace driving down rate
Trey Garrison
On the surface the employment numbers for June look positive, but even a cursory glance below the headline shows that the unemployment rate only ticked down because of yet more dropping out of the workforce. Meanwhile, wage growth was flat. Want to know more?
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