Today brought the hotly anticipated jobs report. This is the "official" job count and unemployment rate data for the U.S. and no other report has as ...
Tomorrow is the 4th of July, the only time of the year Americans say the day and month in the correct order. We find ourselves in the traditional “dog...
Apart from the fact that this morning's jobs report contrasted starkly from the slew of anecdotal evidence suggesting a weaker labor market in June, t...
Mortgage application activity moved higher last week as rates declined to the lowest levels since April, according to the Mortgage Bankers Association...
Mortgage rates have generally been falling since May 21st and have done nothing but move lower for more than 2 weeks. That winning streak finally cam...
“Pro Tip: Here’s a friendly 4th of July reminder that absolutely no one is going to watch the videos of the fireworks you record on your phone.” You c...
ADP employment was this morning's key economic report and it came out sharply weaker than expected (-33k vs 95k f'cast). There are many past examples ...
It's been 88 days since the average 30yr fixed mortgage rate was as low as it is today--close enough to 3 months. Some lenders may be higher or lower...
“Life is like a roll of toilet paper: The closer you get to the end, the faster it goes.” Just like that, 2025 is half over. With it have come changes...
Tuesday brings the week's first decent dose of meaningful economic data with both S&P/ISM Manufacturing PMIs and Job Openings. The PMI data was somew...
April 3rd and 4th saw the average top tier 30yr fixed mortgage rates well into the "mid 6's." Many lenders were able to quote 6.5% at the time. Just...
“The seminar ‘How to avoid frauds’ is canceled. Tickets are non-refundable.” Mortgage fraud is alive and well in the United States. In Utah, Kouri Ric...
Month/quarter end trading is a somewhat esoteric and potentially frustrating concept for the typical market watcher because it seemingly violates the ...
Friday's mortgage rates ended up being right in line with Thursday's on average. At 6.72%, the MND daily rate index is as low as it's been since earl...
The National Association of Realtors' Pending Home Sales Index (PHSI)—which tracks contract signings on existing homes—has remained rangebound for mor...
Does anyone pay with cash anymore, or actually have the money in their bank account? Credit card debt is now $1.1 trillion. There is even a credit car...
New Home Sales fell sharply in May according to the latest report from the U.S. Census Bureau and HUD. After a brief surge in April, the seasonally ad...
Bonds are slightly weaker to start the final trading day of the week, but that has nothing to do with this morning's PCE data. Despite being the Fed'...
Mortgage application activity moved slightly higher last week despite a modest uptick in rates, according to the Mortgage Bankers Association’s (MBA) ...
Two months ago, existing home sales reached the highest levels in a year according to the National Association of Realtors. Last month’s report showed...
After topping out on May 21st, the average day for mortgage rates has been a good one. This has been especially true since June 6th with our 30yr fix...
“I've been experimenting with breeding racing deer. People have accused me of just trying to make a fast buck.” There are no fast bucks to be made in ...
Visually, the number of line items in this morning's economic calendar may seem daunting. In fact, several of the reports sound like they should matte...
The average top tier 30yr fixed mortgage rate had already dipped to the lowest levels since May 1st at the start of the week. Two additional days of ...
Bonds are taking a breath this morning after hitting the best levels in more than a month yesterday. The event calendar is much lighter than it seems ...
AI doesn’t have an NMLS number. (Zillow has never, ever set foot in a house for that matter.) Do you own a computer? Most in lending do. Elon Musk? I ...
Both the FHFA and Case‑Shiller home price indices were released today. While the data collection time frame is from April, they each suggest a similar...
Yesterday saw mortgage rates fall to the best levels since early May. Now, today, we'd have to go all the way back to the end of April to find anythi...
Powell's prepared remarks and Q&A at today's congressional testimony are showing the market a clearer path to the possibility of rate cuts in the near...
Residential business is coming through in dribs and drabs for many lenders, but that doesn’t stop all the random news out there. To no one’s surprise,...
A vast majority of long-time bond watchers share the same general understanding of how war impacts rates. Specifically, the increased global economic ...
For many, business is slow out there, and the industry waits for the House vote on the abusive trigger lead bill. Depository banks continue to focus o...
The latest Residential Construction report from the Census Bureau showed a noticeable drop in overall housing starts in May, though single-family acti...
Mortgage application activity declined modestly last week despite a drop in rates, according to the Mortgage Bankers Association’s (MBA) latest survey...
Builder sentiment declined for the second straight month according to the National Association of Homebuilders (NAHB) and Wells Fargo's latest Housing...
With Thursday being a federal holiday, banks (and more importantly, the underlying market for mortgage related bonds) were closed. This means that le...
Much like the Friday after Thanksgiving, we have to wonder what the point is of a trading session without any neighbors (there's actually some guiding...
Happy Summer Solstice, and happy 50th birthday to the movie Jaws. Back then, for security, all we had to remember was where we hid our house key, or t...
Big Market Reaction but Mortgages Outperform
Today's jobs report would have been bad for rates if it was even in line with expectations. After it came out stronger than expected (especially in terms of ...