Thu, Aug 29 2019, 9:37 AM
Yesterday was one of the most boring trading sessions in recent memory. There were no meaningful market movers to discuss for the Treasury complex. ...
Thu, Aug 29 2019, 8:52 AM
Real estate agents, and lenders interested in joint ventures and “affinity programs,” are very interested in the Realogy news that the United Services...
Thu, Aug 29 2019, 8:26 AM
The theme of every sales and price report for the last several years has been the shortage of homes for sale. While new home inventories have held ste...
Wed, Aug 28 2019, 7:07 PM
Not many moving part to today's trading session... Bonds were modestly stronger overnight, mostly in order to keep some semblance of pace with bett...
Wed, Aug 28 2019, 5:49 PM
Mortgage rates moved lower today as MBS (the mortgage-backed securities that determine the value of mortgages on the secondary market) improved relati...
Wed, Aug 28 2019, 11:18 AM
Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account ....
Wed, Aug 28 2019, 9:18 AM
In the day just passed, traders focused on the yield curve--an opaque term that officially refers to the entire curve of bond yields versus bond durat...
Wed, Aug 28 2019, 8:32 AM
For readers who deny climate change is real, natural or manmade, sinking cities around the world (including Houston and New Orleans ) can be attribute...
Wed, Aug 28 2019, 8:09 AM
Mortgage rates increased last week and in response the volume of applications ratcheted down significantly. The Mortgage Bankers Association (MBA) sai...
Tue, Aug 27 2019, 6:58 PM
Bonds drifted into slightly stronger territory in the overnight session. The move was seemingly devoid of inspiration and had a very technical, mecha...
Tue, Aug 27 2019, 5:23 PM
Mortgage rates have been putting on a rather frustrating and exciting show in the month of August. On the one hand, they're at or near their lowest le...
Tue, Aug 27 2019, 10:31 AM
Both the S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reported June price data on Tuesday. Both sets of indices showed the...
Tue, Aug 27 2019, 9:05 AM
In the day just passed, bonds jumped out to an early lead in the overnight session on another incremental installment of trade war brinksmanship. Chi...
Tue, Aug 27 2019, 8:43 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 6.3 percent in July, increasing from 5.3 percent t...
Tue, Aug 27 2019, 8:11 AM
If Abraham Lincoln during the Civil War can go to the theater a hundred times, and if FDR during World War II can have a cocktail hour every night whe...
Mon, Aug 26 2019, 5:09 PM
It's a real bloodbath out there in the secondary mortgage market right now. The spread between MBS yields and Treasuries has quickly gone from surpri...
Mon, Aug 26 2019, 4:06 PM
Mortgage rates are sort of all over the place at the moment, and almost never where you'd expect. Those who haven't been following the bond market too...
Mon, Aug 26 2019, 9:15 AM
“My credit score is low but its low because I want to protect myself from identity theft. No one can take out a mortgage in my name if I can’t even ta...
Mon, Aug 26 2019, 9:06 AM
In the week just passed, the bond market set out to digest and react to the Federal Reserve only to end up finding much bigger inspiration. Wednesday...
Mon, Aug 26 2019, 8:45 AM
Increasing home prices are at the heart of a decision by the major federal regulatory agencies to raise the threshold for requiring a residential real...
Fri, Aug 23 2019, 6:09 PM
I was going to leave Tennyson out of the headline and bask in the alliterative glory of an unprecedented 5T title, but I figured you should know there...
Fri, Aug 23 2019, 5:33 PM
Mortgage rates were noticeably higher through yesterday afternoon as the bond market had generally been bouncing back from the more extreme levels ach...
Fri, Aug 23 2019, 1:16 PM
With the huge Millennial generation finally buying houses, the National Association of Home Builders has taken a deep dive into their various preferen...
Fri, Aug 23 2019, 10:56 AM
The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes fell 12.8 percent in July to a season...
Fri, Aug 23 2019, 9:14 AM
In the day just passed, bond markets weakened in the overnight session and then held mostly steady during the domestic hours. The most notable attemp...
Fri, Aug 23 2019, 9:01 AM
Japan's government bonds could soon join Germany's in having negative yields on all maturities. Japanese debt has gone negative out to 15 years, and b...
Thu, Aug 22 2019, 4:18 PM
Today's most prominent trade was the reaction to the 9:45am Markit PMI data. Several of the metrics were at their weakest levels since 2009. The com...
Thu, Aug 22 2019, 3:57 PM
Mortgage rates managed to hold relatively steady today after moving higher at their fastest pace in over a week yesterday. Incidentally, they also hit...
Thu, Aug 22 2019, 2:42 PM
Sources are telling Bloomberg that a report on the White House's plan to release Fannie Mae and Freddie Mac (the GSEs) from their 11-year long conserv...
Thu, Aug 22 2019, 9:01 AM
Thank you to everyone who wrote yesterday correcting me that Hawai’i’s 1959 statehood is 60 years old and not 50. I know it’s not the case, but someti...
Thu, Aug 22 2019, 8:52 AM
In the day just passed, bonds digested and reacted to the minutes from the latest Fed meeting (from late July). Given that the Fed cut rates at that ...
Thu, Aug 22 2019, 8:41 AM
There was a dramatic drop in the average note rate for loans originated in July and the refi share of those originations rose significantly. The July ...
Thu, Aug 22 2019, 8:13 AM
Black Knight said on Thursday that the national delinquency rate fell back by 7.27 percent in July , erasing last month's increase that was caused in ...
Wed, Aug 21 2019, 5:33 PM
Today brought the (not very) much-anticipated FOMC Minutes--a more detailed account of the conversation that transpired at the end of July when the Fe...
Wed, Aug 21 2019, 4:58 PM
Mortgage rates moved higher today, and it had nothing to do with any of the day's events or news headlines. Quite simply put, the bond market (which d...
Wed, Aug 21 2019, 11:19 AM
Existing home sales returned to an upward track in July after dipping 1.7 percent in June. The National Association of Realtors® (NAR) said pre-owned ...
Wed, Aug 21 2019, 10:14 AM
In the day just passed, a modest uptrend in yields was "defeated" from a technical standpoint. Yields broke below a trend-line marking "higher lows" ...
Wed, Aug 21 2019, 8:43 AM
Congratulations to Hawaii which became a state fifty years ago today. We’ve had plenty of economic cycles, small and large, in fifty years, although i...
Wed, Aug 21 2019, 8:16 AM
Residential construction has been famously slow for several years and some new analysis of Census data by the National Association of Home Builders (N...
Wed, Aug 21 2019, 8:11 AM
The volume of mortgage applications continued to be shored up by refinancing during the week ended August 16, but overall activity was down. The Mortg...
Tue, Aug 20 2019, 5:41 PM
Bonds were breathing easy by the time the domestic session got underway. Before that, they kicked off the overnight session in lower yield territory....
Tue, Aug 20 2019, 5:13 PM
Mortgage rates held steady today, for the most part. If there was a leaning, it was toward slightly lower rates, but not by a wide enough margin to be...
Tue, Aug 20 2019, 2:30 PM
Monday's edition of the Federal Register featured a proposed rule that, depending on your viewpoint, would amend the Department of Housing and Urban D...
Tue, Aug 20 2019, 8:59 AM
In the day just passed, we considered a rather melodramatic question ("is it over?"), which refers to the general strength in the bond market seen in ...
Tue, Aug 20 2019, 8:45 AM
Why is a 43% DTI, a line many view as “drawn in the sand,” so critical to the ability of a borrower to repay a loan? What about reserves or utility bi...
Mon, Aug 19 2019, 5:59 PM
There haven't been many market moving headlines over the past 2 days with the exception of Germany removing the veil of secrecy from its fiscal stim...
Mon, Aug 19 2019, 4:52 PM
Mortgage rates mostly held steady today , despite a move higher in broader interest rate indicators like the 10yr Treasury yield. Treasuries and mortg...
Mon, Aug 19 2019, 12:09 PM
Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The compa...
Mon, Aug 19 2019, 9:24 AM
In the week just passed, bonds rallied to new long-term low yields before bouncing on Friday. Hong Kong protests over the weekend kicked things off o...
Mon, Aug 19 2019, 9:10 AM
Builders can’t complain too much about material prices anymore. Building materials prices rose only 0.7% in July, and are down overall year-over-year....
