Fri, Aug 7 2026, 5:21 PM
Not Quite The Rally You'd Expect, But a Rally Nonetheless
Today's vitals might be a bit confusing at first g...
Fri, Aug 7 2026, 4:58 PM
Mortgage rates dropped moderately today after the latest jobs report showed much lower jobs created than expected. The monthly jobs report is one of ...
Fri, Aug 7 2026, 3:22 PM
Mortgage application activity declined for a second consecutive week as higher borrowing costs continued to weigh on both purchase and refinance deman...
Fri, Aug 7 2026, 11:52 AM
As many of us prepare to head to So Cal for the California MBA’s Western Secondary (800 or so registered), artificial intelligence continues to be the...
Fri, Aug 7 2026, 9:05 AM
Nonfarm payrolls (NFP) FELL 23k versus an 80k forecast. Last month was revised down as well. From a traditional market-watching perspective, this is ...
Thu, Aug 6 2026, 3:05 PM
Almost Like Clockwork
Almost like clockwork, after several days spent mostly rallying on a headline-driven d...
Thu, Aug 6 2026, 2:08 PM
Mortgage rates rose modestly on Thursday, with multiple lenders making mid-day adjustments in response to bond market volatility. Bonds remain highly ...
Thu, Aug 6 2026, 11:04 AM
It's as good of a day as any to revisit our primer on corporate debt issuance given that it's having an impact on bonds today. Alphabet announced a $...
Thu, Aug 6 2026, 10:53 AM
Lender and Broker Software, Products, and Services What if the most important capital markets decision you're making today is based on incomplete da...
Wed, Aug 5 2026, 3:28 PM
Bonds Shake Off Mid-Day Weakness to Hold Mostly Steady
Bonds took a break from their recent trend of moderat...
Wed, Aug 5 2026, 3:11 PM
The bond market and mortgage rates have been on the move lower recently after hitting longer term highs at the end of July. Today offered a break from...
Wed, Aug 5 2026, 8:55 AM
With the potential for a Hormuz deal floated earlier in the week, a more substantive announcement remains the biggest opportunity for the bond market ...
Tue, Aug 4 2026, 3:29 PM
Solid Showing For Logical Reasons
Money flooded back into both sides of the market in a major way (albeit mo...
Tue, Aug 4 2026, 3:01 PM
Mortgage rates were a bit hesitant to follow the bond market's advice yesterday. Specifically, bonds rallied (i.e. bond prices moved higher and yields...
Tue, Aug 4 2026, 11:44 AM
After a general summer lull, and with talk of JPMorgan Chase’s $750 billion housing investment rifling through our biz, mortgage conference season shi...
Tue, Aug 4 2026, 9:39 AM
This morning is offering another installment of hope for some form of progress in Iran. In today's case, it was Bessent floating the notion of possibl...
Mon, Aug 3 2026, 3:52 PM
Sideways and Stronger, But Risks Remain
Monday was "nice." Bonds rallied more than a little bit and held tho...
Mon, Aug 3 2026, 3:27 PM
Mortgage rates had a tough day on Friday, largely in response to bond market volatility surrounding heavy forex trading as a part of US/Japan efforts ...
Mon, Aug 3 2026, 11:24 AM
Non-QM investors are “licking their chops” by using the information that the FHFA, through Freddie and Fannie, is requiring a more thorough lender ass...
Mon, Aug 3 2026, 10:25 AM
Bonds opened the trading session in much stronger territory, following the drop in oil prices associated with another round of de-escalation hopes in ...
Fri, Jul 31 2026, 4:08 PM
Esoteric Forex Drama Blasts Bonds, Maybe
Friday was very much NOT on the beaten path of typical bond market ...
Fri, Jul 31 2026, 1:36 PM
To be fair, mortgage rates haven't been far from their long-term highs in over a week, but today's 30yr fixed index level of 6.83% is functionally equ...
Fri, Jul 31 2026, 12:41 PM
Home price appreciation remained modest in May, according to data from both FHFA and the S&P Cotality Case-Shiller Home Price Indices . Although bo...
Fri, Jul 31 2026, 12:33 PM
Mortgage application activity pulled back last week as higher borrowing costs weighed on both home purchase and refinance demand. The Mortgage Bankers...
Fri, Jul 31 2026, 11:49 AM
I am no numerologist, but Freddie Mac’s announcement yesterday, that 30-year mortgage rates are averaging 6.66, caught my attention. Unlike rumors, li...
Fri, Jul 31 2026, 9:09 AM
Japan's Ministry of Finance (MOF) and central bank (BOJ) are a bit more closely linked than Treasury and the Fed. For example, the MOF can instruct th...
Thu, Jul 30 2026, 4:14 PM
Bullets Dodged
We've seen our fair share of bonds punishing the market on occasions where bond traders were ...
Thu, Jul 30 2026, 2:52 PM
It's not at all uncommon for mortgage rates to experience microscopic movement in either direction on any given day. In fact, it's probably the most c...
Thu, Jul 30 2026, 11:56 AM
I was recently doing some bike riding in the Napa Valley and spent some time speaking with a wine maker. She told me that because of the increase in t...
Thu, Jul 30 2026, 9:40 AM
This morning could have been much worse. The bond market could have continued spiraling on fear that it is now responsible for conducting monetary pol...
Wed, Jul 29 2026, 5:47 PM
What's Up With Today's Paradoxical Fed Reaction?
Tough day for the casual observer to try to make sense of w...
Wed, Jul 29 2026, 3:53 PM
Heading into today's Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like ...
Wed, Jul 29 2026, 2:00 PM
The Federal Open Market Committee approved the following statement for release by a 12 9 – 0 3 vote: The Committee decided to maintain the ta...
Wed, Jul 29 2026, 11:23 AM
“Technology is dominated by two types of people: Those who understand what they do not manage, and those who manage what they do not understand.” Even...
Wed, Jul 29 2026, 9:49 AM
The big news over the weekend was that the U.S. and Iran paused hostilities--something that led to 2 solid days of gains in the bond market. But in th...
Tue, Jul 28 2026, 4:04 PM
Giving Peace (And Bonds?) a Chance
Granted, it may be far less promising than some of the more conclusive he...
Tue, Jul 28 2026, 11:32 AM
Does innovation in lending always means building something new? MISMO’s President Brian Vieaux challenges that familiar assumption, instead, he argues...
Tue, Jul 28 2026, 9:28 AM
Once again, bond yields dropped in the overnight session in concert with lower oil prices. Today's iteration is less swift than yesterday's, but after...
Mon, Jul 27 2026, 4:15 PM
Compared to Oil, Yields Not Quite as Willing to Drop
While the moment-to-moment correlation between bond yie...
Mon, Jul 27 2026, 2:44 PM
After bottoming out around 6.5% in late June, mortgage rates moved steadily higher this month, ultimately hitting 6.85% last Thursday--the highest lev...
Mon, Jul 27 2026, 11:45 AM
In 2025, the IMF reported that, across the globe, companies, households, and countries had amassed $251 trillion in debt. Looking toward the end of 20...
Mon, Jul 27 2026, 8:51 AM
It's a pretty simple morning for the bond market (and many other markets). While there's no formal ceasefire, both the U.S. and Iran have indicated a ...
Fri, Jul 24 2026, 3:38 PM
How Technical Do You Want to Be?
There are always multiple technical lenses through which to view market mov...
Fri, Jul 24 2026, 3:06 PM
If you're just tuning in, mortgage rates had a rough day yesterday on top of a rough week overall. The result was the highest 30yr fixed rate in over ...
Fri, Jul 24 2026, 1:17 PM
New home sales rebounded modestly in June, recovering some of the previous month's decline, though activity remained below year-ago levels as elevated...
Fri, Jul 24 2026, 1:04 PM
Mortgage application activity rebounded last week as stronger home purchase demand offset a modest decline in refinancing, even with borrowing costs c...
Fri, Jul 24 2026, 11:40 AM
Odds are, anything you buy was transported using diesel fuel, the price of which has shot up after Russia banned exports of it, impacting farmers, tra...
Fri, Jul 24 2026, 9:56 AM
It's a straightforward morning in the bond market. We're not seeing any of the sorts of "unseen hand" trading that accounted for the timing of yesterd...
Thu, Jul 23 2026, 4:55 PM
Bonds Not Keen To Catch Falling Knives
Oil lurched higher again overnight which kept generalized pressure on...
Thu, Jul 23 2026, 1:41 PM
Mortgage moved higher today, and while the jump was no larger than the one seen on Monday, both were 'above average' and both took rates in the wrong ...
