Mortgage rates hit their highest level in just over 3 months yesterday with financial markets generally protesting the absence of more serious spendin...
Yesterday I headed west from the conference while my son Robbie headed south to the nCino nSight event. But while in Manhattan Dawn S. asked me, “How ...
The most significant development of the overnight session was the early morning passage of the spending bill in the House. This resulted in only a mod...
Two days ago, mortgage rates began the day at 7.04% before mid-day improvements brought the average back down to 6.99%. Today started out in a simila...
We're now into the 3rd day of a week that's conspicuously lacking in relevant econ data. In addition, the looming holiday weekend hinders participatio...
As nearly a thousand capital markets staff, managers, and vendors head home from Manhattan, united in trying to help borrowers, in a reflection of the...
Mortgage rates ultimately managed to hold steady on Tuesday despite some underlying market volatility. Rates change day to day (and sometimes intraday...
A mullah, a rabbi, and a priest walk into a bar here in New York. The bartender says, “What is this, some kind of joke?” What isn’t a joke is people’s...
It's a holiday-shortened week with a relatively empty economic calendar, thus forcing the bond market to find its movement cues elsewhere. To some sma...
Mortgage rates jumped sharply over the weekend as financial markets reacted to Moody's credit rating downgrade of the U.S. News of the downgrade brok...
People who don’t attend the National Secondary here in Manhattan wonder what happens behind the scenes. Here you go. We had the MCT elevator failure l...
When Moody's announced the surprise cut of the US credit rating on Friday, there were only a few minutes left to trade and all but the latest working ...
The average top tier 30yr fixed rate is set to end the week just a few hundredths of a percent higher than last Friday at 6.92%. That's a victory--al...
The Census Bureau is out with monthly construction numbers for April showing an uptick in construction activity offset by slightly lower permitting. ...
The National Association of Homebuilders (NAHB) and Wells Fargo released the monthly Housing Market Index (HMI) this week, showing builder confidence ...
Home purchase demand improved improved last week according to the MBA mortgage application survey. The improvement over the previous week was fairly m...
This weekend is when many of us head to Manhattan for the MBA’s National Secondary event. For those flying in, check your ticket: NJ Transit’s on stri...
One might assume that an economic report like Import Prices would carry a lot of weight in light of the news cycle or that the highest 1yr inflation e...
Mortgage rates have done almost nothing but move higher in the month of May. The latest bump--seen yesterday--took the average top tier 30yr fixed rat...
“There’s a splendid saying about the definition of an economist being someone who “will know tomorrow why the things they predicted yesterday didn't h...
This morning's market action is quickly helping us understand the enigmatic trading seen yesterday (i.e. a sell-off without any great scapegoats). Re...
In early April, amid the most volatile portion of the market's reaction to the tariff announcement, mortgage rates were officially over 7% for a singl...
It's a potentially frustrating time for bond watchers. The rules have already changed in a big way to accommodate the new wild card presented by tarif...
As Roy Cohn once instructed a young Donald Trump, much can be accomplished by attacking first and dealing with the consequences later. I get opinions ...
Tuesday brought the release of an economic report that has frequently been responsible for big swings in mortgage rates. The Consumer Price Index (CPI...
Heading into the session, we knew there was a high bar for CPI to have a positive influence on bonds with the future tariff landscape reducing the rel...
No one in places like Florida or Myrtle Beach or Colorado’s Glenwood Springs wants to wake up to a headline, sensationalist or not, saying, “Vacation ...
Tariffs and trade policy have been a new and important consideration for the bond market for just over a month now. That matters to mortgage rates bec...
10yr yields were up 8bps overnight to the highest levels since April 11th after weekend trade talks between the US and China resulted in significant r...
Nearly a thousand of us head to Manhattan in less than a week for the MBA’s Secondary Conference. In 2025 Q1, the median asking rent in New York City ...
Whether it's today vs yesterday, or today vs the end of last week, the average top tier 30yr fixed mortgage rate is just a hair lower. Today's improv...
A glance at today's economic calendar quickly reveals that Fed speeches are the only game in town in terms of scheduled events. But what can the Fed ...
Here’s something that our Fed can’t do anything about, inflation-wise: coconut prices have doubled due to extreme weather events. (More on weather and...
Mortgage rates moved back up to the higher levels seen earlier this week after the official announcement of a trade deal between the U.S. and the U.K....
Bonds mostly lost ground in the overnight session, and then lost just a bit more ground after the 8:30am econ data. This consisted of Jobless Claims ...
“Why did the homeowner take so long in remodeling his home? He had trouble with da siding.” There are LOs, or correspondent investors, who have spent ...
There's nothing like a Fed announcement day to get almost every media outlet to run headlines that attempt to tie the day's market movement to the Fed...
Recent Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pa...
Slightly Stronger Because Not Every Day Can be Weaker
Bond yields have moved almost exclusively higher in May. At the very least, they've been in an incredibly linear uptrend. Uptrends wouldn't last ver...