The the spike in refi activity has “meaningfully” increased the pricing power for originators, said KBW. The research firm said gain-on-sale margins from secondary market loan sales should be exceptionally strong.

Mortgage loan officers should take one last look at their loved ones because if the 30-year fixed-rate vanilla mortgage falls below 3.0% they’ll be living at the office as new customers pour through the door (or Internet) like a zombie apocalypse…

But there’s also a dark side to the rate plunge: The servicing side of the mortgage business is looking at mark-to-market bloodbaths that could be the norm if rates don’t snap back by the end of the current quarter.

“Mortgage originators are looking at record earnings for the first quarter,” said Chuck Klein, managing director of Mortgage Banking Solutions, Austin, TX, a consulting firm engaged in warehouse reviews and M&A activity.

Suddenly, lenders are talking about capacity issues...

It is rare for Republicans, who have been critical of the bureau’s regulatory actions in the past, to praise the work of the consumer regulator.

For the year banks and thrifts earned $13.54 billion from mortgage banking, a 14.2% decline from 2018.

Important lessons learned this week: What goes up, must come down; mortgage rates don't always track the 10-year Treasury; stock speculation (Fannie/Freddie) is not for the faint of heart...

Steve Harris, president of MIAC Capital Markets, New York, was particularly vocal in his summation: “Sell now or have your asset vaporize.”

At Dec. 31, the bond offered a yield of 1.92%, or 68 basis points higher, a significant difference.