Fri, Apr 5 2019, 9:05 AM
Some New Yorkers like to think that they’re at the Center of the Universe. But, though larger Java, in terms of islands, in Indonesia, is home to 135 ...
Fri, Apr 5 2019, 8:20 AM
Yesterday's bond market volume was as low as it's been since Monday, March 18th. Then, like now, bonds were on the approach to a big potential market...
Thu, Apr 4 2019, 5:27 PM
Bonds were very modestly stronger today, although the more important takeaway is that they effectively held in line with the highest yields of the pas...
Thu, Apr 4 2019, 4:21 PM
Mortgage rates barely budged today after hitting the highest levels in more than a week yesterday. In general, the bond market (which dictates rate mo...
Thu, Apr 4 2019, 10:34 AM
Borrowers had a bit of an easier time getting a loan in March, especially those looking for Jumbo products. The Mortgage Bankers Association's (MBA's)...
Thu, Apr 4 2019, 10:04 AM
We've talked a lot about 2.55% in 10yr yields as an important floor for most of Q1 2019. It was broken after the Fed's March 20th announcement. For ...
Thu, Apr 4 2019, 8:56 AM
NASA has taken another step to make interplanetary living a reality, naming the top three finalists for its ongoing 3D-Printed Habitat Challenge . I a...
Wed, Apr 3 2019, 4:34 PM
The title of yesterday's recap was "Don't Call It a Comeback," and today's weakness is why. Well, to be fair, since I'm always the first to tell you ...
Wed, Apr 3 2019, 3:56 PM
Mortgage rates resumed a week-long move higher today, bringing them to the highest levels since March 19th or 20th, depending on the lender. Between n...
Wed, Apr 3 2019, 10:01 AM
With 10yr yields beginning the day well over 2.50% and with 2.55% being the line in the sand marking the breakout from the sideways range at the begin...
Wed, Apr 3 2019, 8:45 AM
Anyone traveling near San Francisco may have seen “The Flintstones House” perched on a hill next to the freeway. Neighbors don’t like it. But I guess ...
Wed, Apr 3 2019, 8:10 AM
Borrowers have apparently been paying attention. The 22-basis point drop in mortgage rates per Freddie Mac, the largest one-week decline in more than ...
Tue, Apr 2 2019, 5:08 PM
Bonds made some gains today, much to the relief of anyone who didn't really care to see rates explode higher after hitting long-term lows last week. ...
Tue, Apr 2 2019, 4:46 PM
Mortgage rates spiked quickly yesterday, moving up to the highest levels in more than a week and adding an eighth of a percentage point (.125%) to Fri...
Tue, Apr 2 2019, 2:50 PM
CoreLogic says its Home Price Index (HPI) for February reflected an increase of 0.7 percent from January to February and that home prices nationwide w...
Tue, Apr 2 2019, 11:25 AM
Last fall the Urban Institute (UI) published a paper asking, "What, if anything, should replace the QM Patch?" Now Laurie Goodman, UI's Vice President...
Tue, Apr 2 2019, 10:40 AM
It's no mystery at this point that the US bond market has exited its steep, directional, and super friendly move to long-term lows over the past few d...
Tue, Apr 2 2019, 9:05 AM
“Probability tells you that a toddler has a 50-50 chance of putting their shoes on the correct feet. Parenting tells you otherwise.” Merging or acquir...
Mon, Apr 1 2019, 5:45 PM
First thing's first, there's not much about a 10bp gain in 10yr yields and nearly a half a point of MBS weakness that would be considered "mini," but...
Mon, Apr 1 2019, 4:53 PM
Mortgage rates spiked quickly today, capping a 3-day run leading back up from the lowest levels in more than a year. Today's move was by far the bigge...
Mon, Apr 1 2019, 11:25 AM
Total construction spending rose in February however the increase was almost totally in the publicly funded sector. The Census Bureau said total spend...
Mon, Apr 1 2019, 9:41 AM
In terms of directional movement, things have been great for bond markets since early November 2018. Much of that greatness, however, felt more like ...
Mon, Apr 1 2019, 9:09 AM
(Yes, here is today’s actual commentary.) It is well known among loan officers that real estate agents don’t know their client’s credit situation befo...
Mon, Apr 1 2019, 8:28 AM
There are two strong headlines in Black Knight's new Mortgage Monitor . One is that the pool of homeowners for whom a refinance makes sense increased ...
Fri, Mar 29 2019, 3:54 PM
Bonds began the day in weaker territory, threatening to confirm a 2 day move that ends March's impressive run. Weakness remained intact all day but b...
Fri, Mar 29 2019, 3:18 PM
Mortgage rates were higher again today, making this the first confirmed bounce since beginning their stellar run last week. To be clear, rates have be...
Fri, Mar 29 2019, 12:59 PM
With the third set of new home sales data in 21 days it seems the Census Bureau has caught up from the partial government shutdown. Whether because of...
Fri, Mar 29 2019, 10:36 AM
While the notion that "all good things come to an end" is the subject of philosophical debate, it's a safe bet that all awesome bond rallies will even...
Fri, Mar 29 2019, 9:16 AM
Wells Fargo’s continuing saga continues with the resignation of its CEO Tim Sloan over opening accounts without customer’s permission. “Fortunately” t...
Fri, Mar 29 2019, 8:20 AM
As the Senate Banking Committee wound up its second day of hearings on Chairman Mike Crapo's (R-ID) outline for housing finance reform the White House...
Thu, Mar 28 2019, 6:01 PM
It's very easy to fall into the trap of allowing gains or losses to dictate one's market sentiment on any given day. For instance, am I more likely to...
Thu, Mar 28 2019, 4:25 PM
Mortgage rates moved higher by a measurable amount today--the first time they've done such a thing in nearly a month! Even after the modest increase, ...
Thu, Mar 28 2019, 12:00 PM
Facebook, which has been accused recently of everything short of disappearing Jimmy Hoffa, is in more hot water. The U.S. Department of Housing and Ur...
Thu, Mar 28 2019, 11:06 AM
Pending home sales fell again in February. The National Association of Realtors® said its Pending Home Sales Index (PHSI) declined by 1.0 percent comp...
Thu, Mar 28 2019, 9:40 AM
It's no secret that bonds have rallied impressively in March. The bigger and faster a rally is, the more we may worry about the risk of a bounce. To...
Thu, Mar 28 2019, 9:02 AM
Be careful with your advertising! HUD announced today that it is charging Facebook with violating the Fair Housing Act by encouraging, enabling, and c...
Thu, Mar 28 2019, 8:37 AM
Does the entire housing market need fixing? Senator Mike Crapo thinks so, and he has a gargantuan reform proposal on the table to prove it (covered he...
Wed, Mar 27 2019, 5:36 PM
The notion of contrarian indicators is pretty interesting when it comes to the bond market, at least when it comes to investor sentiment. I take pa...
Wed, Mar 27 2019, 4:29 PM
Mortgage rates moved lower for the 6th straight day , bringing them very close to the best levels since late 2017. Perhaps more impressive (or telling...
Wed, Mar 27 2019, 12:08 PM
The balance sheet turned red again for mortgage lenders who reported financial data for the fourth quarter to the Mortgage Bankers Association (MBS). ...
Wed, Mar 27 2019, 11:06 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 3.0 percent in February, growing from 1.2 percent ...
Wed, Mar 27 2019, 9:57 AM
"Science" may not be exactly the right term, but let's look at the recent bond market gains under an objective microscope. In so doing, we will see t...
Wed, Mar 27 2019, 9:42 AM
Despite finding programs to fit their borrowers being the emphasis for lenders, pricing and margins are a constant discussion topic. For lenders the d...
Wed, Mar 27 2019, 8:06 AM
The Mortgage Bankers Association (MBA) credited a strong start to the spring buying season for a big gain in mortgage applications during the week end...
Tue, Mar 26 2019, 5:51 PM
All things being equal, today was a fine day for the bond market. Sure, 10yr yields ended the day 2bps higher than yesterday's latest levels, but in ...
Tue, Mar 26 2019, 4:26 PM
Mortgage rates took the day to do just a little bit more of what they've been doing in fairly grand fashion for the past week: MOVE LOWER! When the go...
Tue, Mar 26 2019, 2:43 PM
FHA is reversing an earlier decision to remove the rule requiring manual underwriting for mortgages with credit scores below 620 and a ratio of debt t...
Tue, Mar 26 2019, 11:12 AM
The S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency's (FHFA's) Housing Price Index paints two different pictures of the hous...
Tue, Mar 26 2019, 10:10 AM
Residential construction numbers continued to see-saw in February. Housing starts were particularly disappointing after their stellar performance in J...
Tue, Mar 26 2019, 10:09 AM
Quite a few talking heads and analysts referred to last Wednesday's post-Fed rally as 'overdone.' They pointed to Thursday's moderate weakness as evi...
