Tue, May 8 2018, 5:30 PM
2.95% in 10yr Treasury yields had become a bit of a battleground last week. Even in the week prior, there were two big bounces there (3 if you coun...
Tue, May 8 2018, 4:40 PM
Mortgage rates are still technically in a sideways holding pattern, but today's move took them slightly higher inside their recent range. The average ...
Tue, May 8 2018, 4:32 PM
The Mortgage Credit Availability Index (MCAI), a measure developed by the Mortgage Bankers Association (MBA), was unchanged in April at 177.9. The Ind...
Tue, May 8 2018, 10:54 AM
Home owners who have needed help from someone in the trades in the recent past will probably agree with a report from the National Association of Home...
Tue, May 8 2018, 9:16 AM
Yesterday's recap labeled the trading day as an official 3rd day of the weekend due to an absence of volume or volatility. The underlying culprit (ap...
Tue, May 8 2018, 9:09 AM
Air travel is an interesting thing, and very safe by most metrics. Did you know that there are between 440,000 and 660,000 people in the air over the ...
Mon, May 7 2018, 4:36 PM
This happens from time to time on Mondays. Either due to a holiday overseas or some other distraction, a data-free Monday ends up being a complete du...
Mon, May 7 2018, 4:14 PM
Mortgage rates have been exceptionally sideways for nearly 2 weeks now--this after hitting the highest levels in more than 4 years on April 25th. As a...
Mon, May 7 2018, 11:59 AM
The month of March nearly always sees a significant decline in the national delinquency rate. The average March decrease during this century has been ...
Mon, May 7 2018, 9:33 AM
Longer-term rates have been in a bit of a holding pattern after deciding not to smash through the highest levels in more than 4 years at the end of Ap...
Mon, May 7 2018, 9:13 AM
Nearly every residential lender is selectively scaling back, or rumored to be scaling back, for a multitude of reasons. Suddenly a company cutting a L...
Fri, May 4 2018, 7:02 PM
After the week's biggest dose of intraday volatility this morning, rates ended up almost perfectly unchanged. Charts suggest an uncommonly high amo...
Fri, May 4 2018, 6:38 PM
Mortgage rates were sideways today, on average, but only after the dust settled on some morning volatility. The big jobs report was released at 8:30am...
Fri, May 4 2018, 9:46 AM
With modest gains intact this morning (even after NFP), we're finally in a position to say that all hope may not officially be lost for bonds. That w...
Fri, May 4 2018, 9:35 AM
May the 4 th be with you! The force is with the US Treasury Department as it prepares to take steps to cover a rapidly growing deficit. The government...
Thu, May 3 2018, 4:38 PM
With the 2.95% level in 10yr yields being the most important pivot point for bonds at the moment, drifting sideways to close out the day around 2.94...
Thu, May 3 2018, 3:46 PM
Consumers are increasingly tuning in to the topic of rising home prices in their communities. The National Association of Home Builders (NAHB) said pr...
Thu, May 3 2018, 3:25 PM
Mortgage rates bounced back today--that is, they bounced back DOWN after rising slightly yesterday. The improvement came courtesy of strength in Europ...
Thu, May 3 2018, 1:08 PM
Both government sponsored enterprises (GSEs) reported strong earnings in the first quarter of 2018. In separate announcements this week Freddie Mac sa...
Thu, May 3 2018, 9:10 AM
Moody’s addresses what every LO knows – the next area of “opportunity” in the mortgage market: next area of “opportunity” in the mortgage market : cas...
Thu, May 3 2018, 8:54 AM
There has been at least some amount of correlation between stocks and bond yields in 2018 inasmuch as the major lows for stocks in Feb and April coi...
Wed, May 2 2018, 4:27 PM
We'll give Friday a pass because it was technically still part of the 2-day correction leading back from the 4-year highs in the 10yr Treasury yield s...
Wed, May 2 2018, 3:58 PM
Mortgage rates were flat to slightly higher today, depending on the lender. The average lender was quoting the same rates as yesterday, but with sligh...
Wed, May 2 2018, 2:02 PM
Information received since the Federal Open Market Committee met in January March indicates that the labor market has continued to strengthen and t...
Wed, May 2 2018, 12:27 PM
Affordable housing isn't just a problem in high cost places like New York City and San Francisco according to a new study by the Urban Institute (UI) ...
Wed, May 2 2018, 9:22 AM
The volume of both purchase and refinancing applications moved lower last week , The Mortgage Bankers Association (MBA) said its Market Composite Inde...
Wed, May 2 2018, 9:15 AM
Greetings from the American Mortgage Conference in Pinehurst, NC! Fun with numbers: A penny is about 1/16 of an inch, or 192 per foot. A mile is 5,280...
Wed, May 2 2018, 9:09 AM
There's a fair amount on the calendar today from an objective standpoint. The 3 headliners are ADP Employment, the Treasury refunding announcement an...
Tue, May 1 2018, 5:10 PM
The Day Ahead discussed the year's previous closing high of 2.95% in 10yr yields. It hadn't come into play too terribly much until the past 3 session...
Tue, May 1 2018, 3:28 PM
Mortgage rates moved higher on average today, although a few lenders were better characterized as "unchanged." In either case, if you're shopping for ...
Tue, May 1 2018, 1:02 PM
The construction spending report for March was a bit of a jolt , especially given the reason for the unexpected decline . Some significant softness in...
Tue, May 1 2018, 11:16 AM
Treasury Secretary Steven Mnuchin told Fox Business News on Monday, that changing the current status of Freddie Mac and Fannie Mae is something that h...
Tue, May 1 2018, 9:16 AM
May Day – how are we 1/3 of the way through 2018 already?! Folks are gearing up for this month’s MBA National Secondary conference in Manhattan. (Jung...
Tue, May 1 2018, 9:13 AM
2.95% was the closing high for 10yr yields back in late February. While we saw 10s move as low as 2.935 yesterday, that seemed to be a product of mon...
Mon, Apr 30 2018, 4:36 PM
April was a bummer of a month for the bond market. Actually, it was decent through the 11th, but it got ugly quickly after that--especially during th...
Mon, Apr 30 2018, 3:48 PM
Mortgage rates didn't move much today , which keeps them right in line with last week's lowest levels. That sounds pretty good! Unfortunately, any tim...
Mon, Apr 30 2018, 10:34 AM
It wasn't much of a gain , even missing analysts' predictions, but given the recent performance of the Pending Home Sales Index (PHSI), any positive c...
Mon, Apr 30 2018, 9:42 AM
This week brings several top tier economic reports as well as a Fed announcement. Combine that with today's month-end trading process, it makes for a...
Mon, Apr 30 2018, 9:11 AM
Demographics will tell you that it makes more sense organizing populations by how they live – rather than where they live – is a much more precise way...
Fri, Apr 27 2018, 6:53 PM
Bonds managed to scratch out a 2nd day of "recovery" leading back from the highest yields in more than 4 years seen on Wednesday. If you don't want t...
Fri, Apr 27 2018, 6:21 PM
Mortgage rates moved lower again today , bringing them back in line with Monday's levels for the average lender. That said, rate sheets have been very...
Fri, Apr 27 2018, 11:10 AM
The Consumer Financial Protection Bureau (CFPB) has announced a technical change to its October 2015 "Know Before You Owe" mortgage disclosure rule. T...
Fri, Apr 27 2018, 11:07 AM
The rate of homeownership as well as the national vacancy rates were statistically unchanged in the first quarter of this year, and prices, especially...
Fri, Apr 27 2018, 9:19 AM
The abrupt sell-off that began on 4/18 has been a bit frustrating from an analytical standpoint due to an absence of clearly-delineated motivations. ...
Fri, Apr 27 2018, 9:15 AM
Huh? Nearly half of borrowers don’t rate shop? Freddie Mac tells us that this is indeed the case (although every LO and broker I know would disagree)....
Thu, Apr 26 2018, 5:00 PM
In yesterday's recap, I mentioned that we were likely to see a token bounce on one of the next 3 days, but that it didn't necessarily guarantee furt...
Thu, Apr 26 2018, 4:18 PM
Mortgage rates caught a break today , as underlying bond markets made it back into Tuesday's territory. Refreshingly, lenders were willing to set rate...
Thu, Apr 26 2018, 12:32 PM
Not sure whether to call it cooperation, a coincidence or a non-musical "call and response," but a proposal unveiled by Ben Carson, Secretary of Housi...
Thu, Apr 26 2018, 10:07 AM
Today is shaping up to be the first push back against the current selling trend. By current, I mean the sharper, shorter trend of the past 7 days a...
Thu, Apr 26 2018, 9:13 AM
I'm a capital markets guy, so, by some people’s definition, don’t know much about numbers. But I know that .250 (a quarter point) on a $100,000 loan i...
