Mortgage rates spent the entire month of October moving higher at a fairly quick pace. Some of that had to do with stronger economic data, but at lea...
In today's weekly mortgage application survey from the MBA, the average 30yr fixed mortgage rate only rose from 6.73 to 6.81%. Meanwhile, daily avera...
I went to a Vikings game with a friend and decided I wanted a drink. I wanted the big soda pop, but when I saw the price, I decided… A Minnesota will ...
Heading into the election, we knew the bond market was losing ground in concert with improving odds of a Trump victory and red sweep. After being sur...
More often than not, mortgage lenders only set rates once a day. Their decisions are based on trading levels in the underlying bond market. Even thou...
Last week could easily have left us with the impression that the bond market's love affair with economic data was put on hold until after the election...
I think that I read somewhere that there’s an election today (in addition to the Boeing strike ending). Certainly, the sun will come up tomorrow, and ...
Love it or hate it, election-related volatility has been having a big impact on the bond market and, thus, mortgage rates. Most of the volatility has...
Someone’s making money out there, right? Freddie and Fannie continue to earn billions, with a good chunk coming from g-fee income, and see hundreds of...
Up until last Friday, 10yr Treasury yields had consistently closed at 4.27-4.28 last week. Now this morning, we're at 4.27-4.28 again. That's the sh...
It is our longstanding policy to strictly avoid politics except in cases where the political realm legitimately intersects with relevant events for ra...
Not only do most states “gain an hour” Sunday, but I have good news for all my readers. I am getting stronger with age. I can now lift $100 worth of g...
When the median forecast for today's jobs report began circulating, many a market watcher felt that the 113k forecast was too low compared to the 254k...
Mortgage rates rates moved moderately higher today, and while that leaves the average 30yr fixed rate only slightly higher than it was on Tuesday morn...
If it weren't for the surge of volume in Treasuries lining up perfectly with economic report release times, one might wonder if traders even care that...
I recently went to my favorite local Mexican restaurant, and there was a sign in the window, “Sorry, we are closed due to short staff.” Someone had wr...
The jobs report that came out at the beginning of October was a big wake up call for interest rates. Up until then, the prevailing belief was that th...
It's been an interesting morning for the bond market so far. ADP employment came in much stronger than expected. 15 minutes later, Q3 GDP was slight...
As I head from Denver to the Bay Area early this morning, I thought to myself, “Why are corn farmers great at eavesdropping? Because they have ears ev...
Mortgage rates tend to be updated only once per day. Lenders set rates based on trading levels in mortgage-backed securities (MBS) which are essentia...
Heard in the hallways here at the MBA’s annual convention in December. “I wonder if the MBA’s volume estimate of $2.3 trillion for 2025 includes all o...
As we've noted on many occasions in the past few years, JOLTS (the Job Openings and Labor Turnover Survey) used to be a non-event in terms of economic...
It's no mystery that mortgage rates have had a terrible October. As of last Friday, the average lender's top tier 30yr fixed rates were up to 6.90--a...
Thousands of lenders and vendors braved the gate lice to fly to Denver (the term for people who crowd around the gate at an airport, sometimes in an a...
After 2 frustrating weeks spent moving toward higher yields without any major justification from the economic data, things are about to change. From ...
Mortgage rates reached their highest level of the week on Wednesday and haven't really moved since then. Technically each subsequent day saw a micros...
Granted, we were by no means looking for big things from this morning's Durable Goods data, but somehow it still managed to underwhelm. That's not sa...
“A herd of cows broke into a Colorado weed farm. Police and animal control are on the scene, and the steaks are high.” This will be the last day in th...
Mortgage rates have risen every day since October 15th and some of the jumps have been fairly big. That followed an even bigger increase earlier in t...
Thursday morning brought the week's only arguably important economic data in the form of Jobless Claims and S&P's PMIs. Both have a decent track reco...
Were solid, rounded airplane windows considered “innovation”? Indiana’s Carol K. has the answer. There’s always innovation, in this case entertaining....
Mortgage rates have been moving two directions recently and both of them are "up." Only the pace changes. Today's pace was modest to moderate, but b...
Housing was chugging right along in early 2020, then covid happened. Housing experienced lots of unexpected volatility with the most important develo...
The Mortgage Bankers Association (MBA) keeps track of applications for purchase and refi mortgages every week. Purchase apps are slower moving, less ...
“The coast is clear,” and today I head to the Palm Beach Mortgage Professionals Expo hosted by FAMP’s Broward-Gold Coast Chapter. Legal issues will be...
For those of you who already feel like you fully understand the message in Tuesday's recap, the next few days and weeks might get a little repetitive,...
Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headl...
“An eye for an eye, Tooth for a tooth. Vote for me and I'll set you free! Rap on, brother, rap on. Well, the only person talking about loving thy brot...
Monday was frustrating for the bond market. It was a medium large sell-off that would have made more sense as a flat, forgettable Monday. The only th...
Heading into the election, we knew the bond market was losing ground in concert with improving odds of a Trump victory and red sweep. After being surprised in 2016, markets were determined to bake in as much of the expected outcome as possible....