Thu, Jan 28 2021, 3:52 PM
Why Are We Losing Ground Today and What's The Implication?
Due to its timing and size, today's bond market w...
Thu, Jan 28 2021, 11:08 AM
New homes sales managed a small increase in December following three months of losses including a substantial downturn in November. The U.S. Census Bu...
Thu, Jan 28 2021, 10:33 AM
The stock price of American Airlines back to February 2020 levels. Investors seem to be “buying hope.” In Mortgage Land, though I am beginning to hear...
Thu, Jan 28 2021, 8:31 AM
Bonds have rallied or held steady every day this week and the net effect is a visit to the 1.0% psychological floor for 10yr yields. Psychology aside...
Wed, Jan 27 2021, 4:59 PM
Very Tame Reaction to The Fed Despite Bond-Friendly Message
Bonds took a bit of a lead-off heading into toda...
Wed, Jan 27 2021, 2:02 PM
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum ...
Wed, Jan 27 2021, 9:42 AM
With 10yr yields breaking the 1.075% technical floor on Monday, the bond market added evidence to the case for a move back to 1.0%. Today's early gai...
Wed, Jan 27 2021, 9:21 AM
The Acting Secretary of the Department of Housing and Urban Development (HUD) has announced an extension of the deadline for borrowers with FHA mortga...
Wed, Jan 27 2021, 9:18 AM
Just a couple more weeks until my uncle sends me a text asking if I’ve seen these funny photos of Bernie Sanders , of which there are no shortage. The...
Tue, Jan 26 2021, 4:03 PM
It probably wasn't on your COVID Bingo card, but the National Association of Home Builders (NAHB) is finding more and more evidence that the pandemic ...
Tue, Jan 26 2021, 4:03 PM
Mortgage rates were mixed to slightly higher today, depending on the lender. "Higher" is a relative term, in this case as the average loan seeker is u...
Tue, Jan 26 2021, 3:58 PM
MBS Outperform Treasuries Thank to Light Supply at Fed Buying Operation
Treasuries didn't gain any new groun...
Tue, Jan 26 2021, 12:12 PM
The annual increases in U.S. home prices is nearing dizzying levels. The November data from the Federal Housing Finance Agency (FHFA) crossed into dou...
Tue, Jan 26 2021, 9:55 AM
While the Biden Administration waits for the Trump staff to tell them the Wi-Fi password in the White House, the government continues to occupy our th...
Tue, Jan 26 2021, 9:44 AM
10yr yields broke below 1.075% yesterday--a level that had proven tough to break despite multiple attempts in the past 2 weeks. The move followed sev...
Mon, Jan 25 2021, 4:24 PM
What's a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but th...
Mon, Jan 25 2021, 4:17 PM
Strong Move in Treasuries But MBS Underperform (Significantly)
While much of the world of finance and instit...
Mon, Jan 25 2021, 11:44 AM
The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology's (formerly Ellie Mae's) ...
Mon, Jan 25 2021, 10:35 AM
There’s always “stuff” going on in residential lending, right? Capital markets folks have noticed that the big banks are re-entering buying jumbo loan...
Mon, Jan 25 2021, 9:31 AM
Another week, another chance to see if bonds will continue to avoid confrontation with the boundaries of the recent range. 1.075% emerged as the floo...
Fri, Jan 22 2021, 4:24 PM
Calm Week Ends on an Even Calmer Note
It's rare to see non-holidays Fridays in January be quite as underwhel...
Fri, Jan 22 2021, 4:23 PM
While it wasn't quite the biggest surprise of 2020, the strength of the housing market was one of the best. The just-released numbers for December kee...
Fri, Jan 22 2021, 1:09 PM
Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains ,...
Fri, Jan 22 2021, 1:00 PM
Optimism is running high in Fannie Mae's first Economic and Housing Outlook of the year. The company's Economic and Strategic Research (ESR) team says...
Fri, Jan 22 2021, 11:37 AM
Mortgage performance understandably deteriorated over the course of 2020. Black Knight, in its "first look" at December data, noted that the year ende...
Fri, Jan 22 2021, 9:59 AM
This week Joe Exotic did not receive a presidential pardon, nor did mortgage rates move much versus last week, but there are still over 16 million ref...
Fri, Jan 22 2021, 9:25 AM
The nature of the pandemic has made for some very mechanical and orderly market movement. The best example of this in the bond market is the "trend...
Thu, Jan 21 2021, 3:36 PM
Mortgage rates made more progress today, but only after some drama in the morning. The bond market started the day in weaker territory and many mortga...
Thu, Jan 21 2021, 3:32 PM
Bonds Push Back Against AM Weakness, But Risks Remain
Yields were breaking higher as the domestic session be...
Thu, Jan 21 2021, 10:28 AM
Residential construction finished out 2020 much more strongly than analysts had expected. The U.S. Census Bureau and Department of Housing and Urban D...
Thu, Jan 21 2021, 9:56 AM
The GA senate election shift is old news. It did the damage it was always likely to do, but bonds had a good show of support by the end of the follow...
Wed, Jan 20 2021, 4:25 PM
Mortgage rates are off to a decent start this week with the average lender offering slightly better terms compared to last Friday. The progress actual...
Wed, Jan 20 2021, 3:08 PM
The Department of Housing and Urban Development (HUD) announced on Tuesday that it has extended eligibility for FHA mortgages to individuals who are c...
Wed, Jan 20 2021, 11:45 AM
After setting three successive record highs, most recently a 90 level in November , the pandemic and rising construction costs are taking a toll on th...
Wed, Jan 20 2021, 9:50 AM
Does inauguration day matter for the bond market? Not as such, no. To be sure, the changing of the guard in D.C. is indeed a big deal for the bond...
Wed, Jan 20 2021, 9:49 AM
In his Saturday Morning Cup of Joe , Jeremy Potter quipped, “The word ‘homeowners’ has the word ‘meow’ in it. Good luck unseeing that from now on.” Pl...
Wed, Jan 20 2021, 9:15 AM
The Mortgage Bankers Association (MBA) estimates that applications for the purchase of newly built homes rose only 0.2 percent from November to Decemb...
Wed, Jan 20 2021, 9:14 AM
Late last week the Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) agreed to amend the Preferred Stock Purcha...
Wed, Jan 20 2021, 8:37 AM
The volume of mortgage applications fell back slightly last week. The Mortgage Bankers Association (MBA) said its Market Composite Index was down 1.9 ...
Tue, Jan 19 2021, 3:51 PM
Uneventful Start This Week; Next Move Remains Debatable
Bonds began the day in weaker territory but rallied ...
Tue, Jan 19 2021, 11:05 AM
President-elect Joe Biden has announced his picks for two important financial regulatory positions. The chairmanship of the Consumer Financial Protect...
Tue, Jan 19 2021, 11:03 AM
Sometimes running a mortgage compliance department can seem like this short clip Indiana’s Carol K. sent along. Yet there is value in compliance, and ...
Tue, Jan 19 2021, 9:39 AM
Last week's bond trading served the role of establishing a ceiling for yields after their biggest spike in nearly a year (and the case could be made t...
Fri, Jan 15 2021, 4:42 PM
Big Victory This Week (In Response To Last Week's Big Loss)
Relative to the spectrum of possibilities, endin...
Fri, Jan 15 2021, 10:34 AM
A decline in the number of forborne loans in those portfolios serviced for banks and private label securities (PLS) accounted for most of the modest d...
Fri, Jan 15 2021, 10:19 AM
Freddie Mac's first quarter 2021 economic forecast is unusually short, and, unlike recent forecasts from either of the GSEs, has relatively few revisi...
Fri, Jan 15 2021, 10:17 AM
Fannie Mae said that the standardization of servicing standards that followed the 2008 housing crisis appears to have helped the industry manage the r...
Fri, Jan 15 2021, 10:02 AM
As Flagstar’s Marcus L. points out, “1999 doesn't sound like that long ago until you realize that people with a birth year starting with ‘2’ are start...
Fri, Jan 15 2021, 9:27 AM
After the GA senate elections, the bond market immediately knew it needed to prepare for additional stimulus, even if moderate democratic voices might...
Thu, Jan 14 2021, 4:03 PM
Bonds Playing it Extra Safe Ahead of Biden's Stimulus Details
As we discussed yesterday, the strong mid-week...
