Today, 9:07 AM
There's a high bar for econ data to have any impact on bonds these days and that's especially true of inflation reports like this morning's PCE. Thank...
Thu, Mar 12 2026, 4:38 PM
War Protest: Bond Market Edition
There's no quicker way to classify the movement we've seen over the past 2 ...
Thu, Mar 12 2026, 3:55 PM
Mortgage rates are driven by the bond market. Although bonds only experienced moderate, steady weakness throughout the day, mortgage rates lurched hig...
Thu, Mar 12 2026, 11:30 AM
The bond market doesn't look like it can catch a break as long as war persists in Iran. If it's not oil, it's fertilizer, nat gas, military spending, ...
Thu, Mar 12 2026, 11:09 AM
Products, Services, and Software for Brokers and Lenders Home equity lending is having a moment. The challenge for many lenders? The process behind ...
Wed, Mar 11 2026, 5:10 PM
General Selling Spree Continues
It hasn't exactly been perfectly linear, but the month of March has generall...
Wed, Mar 11 2026, 4:13 PM
Mortgage rates moved higher on Wednesday despite only a modest increase in oil prices. The latter is currently a part of any conversation about intere...
Wed, Mar 11 2026, 10:12 AM
Technology is a two-edged sword. Have you ever heard of “surveillance pricing?” “Big brother” knows a lot about you. Ridesharing companies like Uber, ...
Wed, Mar 11 2026, 9:36 AM
There was a very high bar for today's CPI to cause any serious market reaction due to all the new inflationary impulses that may be created by record ...
Tue, Mar 10 2026, 4:21 PM
Afternoon Weakness in Bonds Despite Lower Oil Prices. Will CPI Matter?
Days like today are a problem for a "...
Tue, Mar 10 2026, 3:38 PM
Today's mortgage rates are lower when compared to yesterday's average prior to 4pm ET. Later in the afternoon, multiple lenders announced improvements...
Tue, Mar 10 2026, 10:48 AM
Products, Services, and Software for Brokers and Lenders What if the biggest driver of servicing costs isn’t your volume, staffing, or vendor stack…...
Tue, Mar 10 2026, 9:07 AM
One major milestone in anyone's market-watching journey is when they learn that "the close" (close of business, closing bell, etc.) means different th...
Mon, Mar 9 2026, 2:55 PM
Big Round Trip in Oil Prices and Bond Yields
There was no denying the spillover from oil price volatility to...
Mon, Mar 9 2026, 2:24 PM
Mortgage rates began the day at the highest levels in a month. The move up versus Friday was only moderate, but Friday's levels were already fairly cl...
Mon, Mar 9 2026, 11:21 AM
One of the conversation topics late last week in Deer Valley is the weather and climate, and more specifically that Salt Lake City had received virtua...
Mon, Mar 9 2026, 8:45 AM
Since the outbreak of the military operation in Iran, there have been varying levels of spillover from rising oil prices to the bond market. There hav...
Fri, Mar 6 2026, 4:39 PM
Oil Impact Ultimately Shunned in Favor of Jobs Report Implications
It was a super interesting day for the bo...
Fri, Mar 6 2026, 3:24 PM
Before this morning's jobs report was released, mortgage rates were on track to end the week at their highest levels in several weeks. This was due to...
Fri, Mar 6 2026, 3:00 PM
Mortgage application activity surged last week in response to headlines of mortgage rates stably holding multi-year lows. The Mortgage Bankers Associa...
Fri, Mar 6 2026, 10:53 AM
Officially winter ends on 3/19, as the Spring Equinox is 3/20. Most modern clocks these days auto-update when daylight savings begins/ends. So, Sunday...
Fri, Mar 6 2026, 9:29 AM
It's shaping up to be a frustrating day market watchers. Decades of experience tells us that bonds should rally fairly sharply on a day where nonfarm ...
Thu, Mar 5 2026, 3:32 PM
Dueling Narrative Leave Yields Higher Ahead of Jobs Report
In the overnight session yields followed oil pric...
Thu, Mar 5 2026, 3:02 PM
Mortgage rates bounced back up today as the underlying bond market continued the selling trend seen on 3 out of 4 days so far this week. In the overni...
Thu, Mar 5 2026, 11:19 AM
Here in Park City, at the annual mortgage ski trip, some of the banter is social, and some is focused on business. On the business side of things, one...
Thu, Mar 5 2026, 9:24 AM
The bond market has already shown an indifference to this week's econ data as a market mover (even though we expect that to change with tomorrow's job...
Wed, Mar 4 2026, 3:31 PM
Economic data is one of the few consistent sources of motivation for interest rates in the mortgage world and beyond. In general, stronger data tends ...
Wed, Mar 4 2026, 11:09 AM
Credit is certainly a topic as of late, both its process and its cost, but I received this note from an industry vet in the South. “Rob, I’m tired of ...
Wed, Mar 4 2026, 8:41 AM
After 2 days of much higher volatility at the open, bonds are roughly unchanged so far this morning and the overnight session was noticeably calmer. T...
Tue, Mar 3 2026, 4:36 PM
Bonds Erase Most of The AM Losses
The bond market was visibly pulled in two directions on Tuesday. This play...
Tue, Mar 3 2026, 3:21 PM
After spending the entirety of last week calmy holding the lowest levels in more than 3 years, mortgage rates jumped sharply higher yesterday. That sa...
Tue, Mar 3 2026, 10:57 AM
At the L1 Summit, technology is obviously a key segment of many sessions. Tech is helping larger companies in their moves in controlling the borrower ...
Tue, Mar 3 2026, 9:47 AM
Bonds sold off again overnight with 10yr yields now challenging the 4.10% technical level in early trading. MBS are down another 3/8ths, roughly. And ...
Mon, Mar 2 2026, 3:41 PM
Big Bad Day For Bonds. What's Next?
Bonds sold off early and aggressively on Monday in a move that most onlo...
Mon, Mar 2 2026, 3:19 PM
Mortgage rates began the new week with a fairly quick jump back into the low 6% range (top tier 30yr fixed rate for the average lender). With the news...
Mon, Mar 2 2026, 11:54 AM
In what seems to be the blink of an eye we’re down two months of 2026, and by most accounts they were decent for lenders and vendors. Here in Ft. Laud...
Mon, Mar 2 2026, 9:33 AM
Spoiler alert: it's not Iran. And this morning's yields are the 2nd lowest in more than 3 months behind last Friday. Last Friday was also a month-end ...
Fri, Feb 27 2026, 4:24 PM
Bonds Cap Stellar Week/Month With Strongest Close
Bonds ended the week/month at their strongest levels with ...
Fri, Feb 27 2026, 1:56 PM
At this point, it is getting a bit repetitive to bring up "the lowest rates in more than 3 years"--something that was officially the case twice this w...
Fri, Feb 27 2026, 1:27 PM
Mortgage application activity edged ever-so-slightly higher last week, with the Mortgage Bankers Association (MBA) reporting an increase of 0.4% on ...
Fri, Feb 27 2026, 1:10 PM
Home price appreciation pulled back slightly at the end of last year, according to December data from both FHFA and S&P/Cotality Case-Shiller. The rep...
Fri, Feb 27 2026, 11:17 AM
Can’t you feel the anticipation building? March 5th… Trigger leads… Don’t tell me that you’ve forgotten all about it. When a borrower applies for a mo...
Fri, Feb 27 2026, 9:29 AM
We'd already discussed the fact that PPI has fallen by the wayside as a relevant market mover for bonds despite one or two instances of relevance near...
Thu, Feb 26 2026, 4:16 PM
Knock Knock Knockin' on 10yr Floor
Sometimes, it's a shame that the 7yr Treasury isn't the most popular bond...
Thu, Feb 26 2026, 3:42 PM
Given that we have the somewhat unpopular job of reporting that today's average top-tier 30yr fixed mortgage rate is 6.00 again, rather than the 5.99 ...
Thu, Feb 26 2026, 11:46 AM
The latest example is ICE Mortgage Technology launching its new Homeowner Portal, powered by LERETA’s tax tracking data, “giving homeowners real-time ...
Thu, Feb 26 2026, 10:37 AM
This is the problem with narrow trading ranges. Yesterday, yields were safely inside a narrow range near long-term lows. Today, they're challenging th...
Wed, Feb 25 2026, 4:45 PM
In-Range PM Weakness
Viewed under a microscope, it may have seemed like today was a relatively volatile sess...
Wed, Feb 25 2026, 3:37 PM
It may not be as glamorous as being able to say mortgage rates are "in the 5s," but at 6.00%, today's MND rate index is a mere 0.01% higher than yeste...
Wed, Feb 25 2026, 12:00 PM
It is no secret that Congress and regulators have trouble keeping up with technology. But is an AI “conversation” with a borrower any different than a...
