Wed, Aug 12 2020, 9:55 AM
There is a ton of uncertainty about rates and the economy in the bigger picture. That uncertainty jives with a broad sideways trend in an all-time lo...
Wed, Aug 12 2020, 9:05 AM
Dating in college is a matter of many things. I mention this because I wondered what colleges were recommending about COVID, and the University of Geo...
Wed, Aug 12 2020, 8:52 AM
Refinancing rebooted again last week, driving overall mortgage applications volume higher after two weeks of dwindling volume. The Mortgage Bankers As...
Tue, Aug 11 2020, 5:10 PM
With most lenders still easily able to quote a 30yr fixed under 3% , mortgage rates are very low in outright terms. But relative to the recent trend a...
Tue, Aug 11 2020, 4:23 PM
Bond Market Breakout is Here (The Bad One)
For days--and especially since last Friday--we've been increasing...
Tue, Aug 11 2020, 11:22 AM
COVID-19 continued to impact mortgage performance in May. CoreLogic said the number of loans in each stage of delinquency, with the exception of those...
Tue, Aug 11 2020, 10:12 AM
For days--and especially since last Friday--we've been increasingly worried that the 2-month bond rally was running out of steam and at risk of a reve...
Tue, Aug 11 2020, 9:40 AM
Me: “I want to travel.” Bank account: “Where? To work?” Think of people in their 20s and 30s. They’ve grown up with 9/11, the Financial Crisis, and no...
Mon, Aug 10 2020, 4:17 PM
New research by dv01, a loan data agent (LDA) providing securitization reporting and analytics on consumer unsecured, mortgage, small business, and st...
Mon, Aug 10 2020, 4:13 PM
Treasuries Looking Nervous, But MBS Outperform
Treasury yields are attempting to move up and over the techni...
Mon, Aug 10 2020, 9:22 AM
August began with bonds pushing several positive boundaries. 10yr yields had just broken a technical floor at .57//58 and 2.0 UMBS were enjoying a su...
Mon, Aug 10 2020, 9:08 AM
“Paranoia is out of control: This morning, while reviewing this commentary, I sneezed in front of my laptop and the anti-virus software started a scan...
Fri, Aug 7 2020, 3:01 PM
More Defensive After Jobs Report, But Not Necessarily Because of it
The jobs report was hard-pressed to live...
Fri, Aug 7 2020, 2:38 PM
Fannie Mae's Home Purchase Sentiment Index (HPSI) faltered a bit in July as it tried to recover from its 29.5-point aggregate plunge in March and Apri...
Fri, Aug 7 2020, 9:12 AM
Let me get this straight. It’ll take a year or two for a cure for a virus that can be killed with hand sanitizer, soap, and hot water? COVID is drivin...
Fri, Aug 7 2020, 8:30 AM
There was a significant decline in the number of active COVID-19 related forbearance plans over the past week, but that decrease did not necessarily m...
Fri, Aug 7 2020, 8:29 AM
No other piece of scheduled monthly economic data has a better track record of influencing the bond market than nonfarm payrolls. There are stretches...
Thu, Aug 6 2020, 5:05 PM
There are quite a few more new stories than normal about mortgage rates today. Most of them are wrong. This one is not, and it's pretty easy to see wh...
Thu, Aug 6 2020, 4:49 PM
Bonds Generally Consolidating Ahead of Jobs Report
MBS were higher today, but for the week as a whole, they'...
Thu, Aug 6 2020, 11:43 AM
Foreign buyers cut back their investment in U.S. residential properties over the 12 months that ended in March. It was the second year-over-year decli...
Thu, Aug 6 2020, 10:07 AM
Yesterday's bond market weakness prompted a conversation about the limits of the current rally. It went a little something like this (<----that's a l...
Thu, Aug 6 2020, 9:21 AM
Originators and lenders are having a great summer from income and profitability perspectives. The thick margins are making managers look like champs, ...
Wed, Aug 5 2020, 5:18 PM
Mortgage rates cooled off today, rising for the first time since July 27th for the average lender. Between now and then we've seen a string of what ha...
Wed, Aug 5 2020, 4:07 PM
Is The Rally Meeting Resistance or Just Consolidation?
With modest overnight weakness and a small negative r...
Wed, Aug 5 2020, 9:58 AM
Home prices increased in June at the fastest pace in more than seven years. CoreLogic said its Home Price Index (HPI) rose 1.0 percent from May, the l...
Wed, Aug 5 2020, 9:31 AM
With modest overnight weakness and a small negative reaction to this morning's headlines (ADP and Treasury issuance), bonds may be encountering some m...
Wed, Aug 5 2020, 9:23 AM
Since eating inside a restaurant is problematic, now’s the perfect time to eat better at home, get fit, and stay healthy. Never mind: Who are we tryin...
Wed, Aug 5 2020, 8:20 AM
Mortgage application volume declined during the week ended July 31 even as mortgage interest rates reached another all-time low. The Mortgage Bankers ...
Tue, Aug 4 2020, 4:51 PM
Mortgage rates are on a tear, with the average lender easily hitting new all-time lows today. How low is that? At this point it's safe to say that any...
Tue, Aug 4 2020, 4:11 PM
Bonds Continue Pushing The Record Pace, But MBS Are Lagging
Yesterday we asked what would come next for bond...
Tue, Aug 4 2020, 10:11 AM
Sure, you’re making bank now, but are you planning for next year? Is your company doing anything to “team up”? Many lenders, vendors, and real estate ...
Tue, Aug 4 2020, 9:49 AM
While there's no way to know how the day will wrap up for the MBS market, we know how it's starting out. We also know how 4 of the past 5 days have s...
Mon, Aug 3 2020, 4:31 PM
Construction spending held firm in June, inching down fractionally from the May level and increasing a bit compared to June 2019. The U.S. Census Bure...
Mon, Aug 3 2020, 4:31 PM
Bonds Defend New Territory
Now that bonds have broken through previous resistance levels (.58 in 10yr yields...
Mon, Aug 3 2020, 11:56 AM
In the second quarter of 2020, 11 percent of American adults were planning on purchasing a home over the next 12 months, and of those, almost half wer...
Mon, Aug 3 2020, 11:52 AM
The last report from Freddie Mac put its 30-year fixed rate mortgage (FRM) at 2.99 percent, up 1 basis point from the all-time low. Black Knight, in i...
Mon, Aug 3 2020, 10:40 AM
The National Home Builders Association (NHBA) has been saying since the COVID-19 virus first began to ravage the economy, that it might be housing tha...
Mon, Aug 3 2020, 9:23 AM
Now that bonds have broken through previous resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next? Rather than look for fast-...
Mon, Aug 3 2020, 8:57 AM
Remember a month ago, heading into the July 4th weekend, a resurgence of Covid-19 cases (which many officials attributed to large Memorial Day gatheri...
Fri, Jul 31 2020, 5:09 PM
Mortgage rates have fallen more aggressively than ever and they've been remarkably willing to set record after record. So is there any reason you shou...
Fri, Jul 31 2020, 5:04 PM
All-Time Levels All Around. Here's How To Play It
Another day, another opportunity for MBS prices to hit re...
Fri, Jul 31 2020, 10:20 AM
As of Wednesday, there were 4.102 million mortgages in forbearance plans. This is 7.7 percent of the 53 million loans in servicer portfolios. Black Kn...
Fri, Jul 31 2020, 8:50 AM
There's no doubt you'll see excellent mortgage rates when this morning's rate sheets come out. Many lenders will be at or below their previous all-ti...
Fri, Jul 31 2020, 8:48 AM
Whether it is Northern Virginia or Lake Tahoe , we’re running out of houses. The pandemic has caused a buyer feeding frenzy away from apartments and c...
Thu, Jul 30 2020, 5:34 PM
The performance of mortgage loan servicers is lacking in the eyes of many of their customers, even this early in the pandemic driven recession. J.D. P...
Thu, Jul 30 2020, 5:32 PM
Both government supported enterprises (GSE) reported increased profits in the second quarter of 2020 compared to Q1. Fannie Mae said its net comprehen...
Thu, Jul 30 2020, 3:55 PM
Bonds Break The Range, But Mortgage Rates Are Dragging Their Feet
The simple version of the story: mortgage ...
Thu, Jul 30 2020, 9:42 AM
Lenders are “tonning it,” as indicated by Fannie Mae’s net income of $2.5 billion for the second quarter of 2020, compared with net income of $461 mil...
Thu, Jul 30 2020, 8:21 AM
Cases are made all the time. Some of them are surefire victories from the start. Others lack the evidence required for a compelling conclusion. The...
Wed, Jul 29 2020, 4:34 PM
Mortgage rates improved nicely overnight. The average lender's morning rates were very close to the lowest levels ever . This was a distinct possibili...
