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...
It happens, but it's rare. A Fed "dot plot" day has come and gone with mortgage rates almost perfectly unchanged from the previous day. This speaks to...
Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The u...
Today we hear from the U.S. Federal Reserve. We can expect no change to overnight fed funds. As pointed yesterday by Dr. Paul Brewbaker, the economist...
Fed day is here and there's a 0% chance of a rate cut. That's been the case for just over a month due a combination of April's jobs report and the st...
Mortgage rates continue operating in a narrow range with almost every day of the past two months falling between 6.8 and 7.0% for a top tier 30yr fixe...
Bonds were decently stronger in the overnight session, but not for any new, specific reasons. Trading levels have been cutting an increasingly narrow...
In Spain, Spaniards are shooting water pistols at foreigners to protest the impact of mass tourism: it has created a housing crunch. Tourism in the Un...
While there's been no shortage of political and geopolitical headlines over the past 2 business days, there hasn't been much by way of inspiration for...
Any food science major will tell you that the difference between jelly and jam is that jam has chunks of fruit in it; jelly is strained. There is also...
After rallying fairly well last Wednesday and Thursday, bonds pulled back on Friday, but not enough to erase more than half of the week's gains. The n...
The top tier 30yr fixed mortgage rate index rose 0.04% on Friday, which would be a medium-sized defeat in and of itself. In the broader context, howev...
After a Memorial Day-induced lull, mortgage application activity rebounded sharply last week, according to the Mortgage Bankers Association’s (MBA) la...
Hey, for you LOs who think things are slow, you can always go into golf. The best example of this is ex-LO Ben Griffin who has racked up $11 million i...
By 8pm last night, news of Israel's attack on Iran erased an entire week of stock market gains and pushed bond yields to the lowest levels in more tha...
Modest Friday Bounce Does Little to Alter Bigger Picture
After a decent mid-day recover, bonds gave up their gains heading into the 3pm close. It's a level of weakness that demands no explanation in the...