Rates marched higher to the highest levels in March today, but most lenders are only microscopically worse off than Friday afternoon. In the slightly...
Lenders are refinancing borrowers who took out intermediate ARMs 3, 5, or 7 years ago and whose rates have gone up. Some here in Las Vegas, walking ar...
Ceilings, floors, pivot points, etc. Technical levels don't predict the future, but they can provide context for trends. In some cases, they can ser...
Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2...
Just once, I want a username and password prompt to say, “Close enough.” Speaking of technology, this weekend Robbie and I head to Las Vegas for the I...
This morning's line-up of econ data is certainly not the most relevant to the bond market, but the NY Fed Manufacturing index has registered an impact...
Even though Tuesday's consumer-oriented inflation report (CPI) had the biggest potential to cause drama for rates, it was today's wholesale inflation ...
Apart from Tuesday (CPI day), today is this week's next biggest deal in terms of scheduled economic data. The trifecta included Jobless Claims, PPI, ...
Fun with numbers: Did you know that, at age 22, Billie Eilish has won twice as many Oscars (2) than 80-year-old Martin Scorsese (1)? (And yes, Samuel ...
Mortgage rates are nowhere near their highs from a few short weeks ago, let alone the much higher highs from late 2023, but they are at the highest le...
Bonds are off to a weaker start today, but not in a major way and not due to any interesting developments. In general, there was some optimism headin...
To the best of my knowledge my cat Myrtle, despite being at the top of the food chain, has never hunted eagle… But who can resist a good live bald eag...
A surge in refinance applications drove mortgage application volume higher for the second straight time last week. The Mortgage Bankers Association sa...
Today brought the release of one of the most consequential economic reports that comes out on any given month: the Consumer Price Index (CPI). CPI me...
“I heard that 80 percent of car accidents occur within one mile of a person's residence, so I moved.” But it turns out that moving doesn't improve you...
It's been a weird morning so far with core CPI coming in at 0.4 vs 0.3 forecast--something that should have certainly sent bonds scrambling into weake...
Mortgage rates hit their best levels in more than a month by the end of last week after moving lower for 4 straight days. If you could only know one ...
February wasn't a fun month for rates, largely thanks to a surprise uptick in core inflation. On that point, both CPI and PCE agreed, but many analys...
When I was a teen, I worked a variety of jobs but never at a fast-food joint. No one made much money working at Mickey D’s or Dairy Queen. Now, in Cal...
It was a hotly anticipated week for interest rates due to the arrival of the first batch of big ticket economic data since the Inflation report that c...
Today's jobs report has proven to be one of the most extreme examples of competing narratives in the past year or so. The headline number wasn't too ...
“Horses have lower divorce rates. It's because they are in stable relationships.” Here on the Central Coast of California, there are plenty of horses ...
Since hitting 2 month highs last Tuesday, mortgage rates have mostly moved lower. The past 3 days have all seen solid improvements in response to eco...
Apart from Monday, which had no meaningful econ data, today was the best candidate for an uneventful day on what is otherwise an important data week. ...
“I saw a woman at Walmart with March Madness teeth... She was down to the final four.” No one is talking about 30-year mortgage interest rates heading...
Conventional 30yr fixed mortgage rates in the high 6 percent range have been available months now, and that didn't change in the past few weeks when r...
Here in Southern California, there are plenty of swimming pools and tennis courts, but none of them belong to me. Under the header of, “Why didn’t I t...
It's understandably nerve-wracking for fans of low rates to see a congressional testimony from Fed Chair Powell on the calendar. Granted, some of tho...
Whether prompted by a tiny improvement in mortgage rates or the first stirrings of a spring market, mortgage activity reversed course last week. The M...
Mortgage rates are driven by movement in the bond market. Bonds can move for several reasons at any given moment, but a key consideration these days ...
Yields spiked in the first half of February as the jobs report and CPI both suggested a stubbornly resilient economy and inflation outlook. That was ...
Conference season is cranking back up, and some believe that apple orchards are in danger of extinction give the amount of “applewood smoked” bacon in...
Mortgage rates were at the best levels in 2 weeks as of last Friday and today's offerings are only modestly higher. One counterpoint is that it didn'...
We've been looking forward to the first week of March since the Feb 13th CPI report because this is the first time since then that we'll see a top tie...
Last year I mentioned that today is the only day that is also a command. A few folks corrected me, saying that “March first” fits that bill as well. L...
Sometimes you'll see coverage of economic data that conforms to certain template with a predictable details and word counts. Rarely, the word count w...
The average lender was offering slightly higher rates this morning when compared to yesterdays latest levels, but things began to change after 10am ET...
We haven't talked enough about ISM Manufacturing this week because Thursday's PCE data was the first report in more than 2 weeks that mattered. Thus,...
Uneventful Trading Day Despite Technical Test
For all that we've talked about the 4.32% technical level and considering yields hit the 3pm close at 4.338, one might expect today to have been important, intere...