Wed, Oct 1 2025, 11:09 AM
Come on… you don’t believe politics and mortgages are separate? Look at politicized government housing agencies: whoever is running HUD, whether it is...
Wed, Oct 1 2025, 8:32 AM
Bonds were already a hair stronger coming into the ADP data, but the results (-32k vs 50k forecast and previous month revised to -3k from 54k) have pr...
Tue, Sep 30 2025, 4:12 PM
Gains Erased by Month/Quarter-End Trading
If it's the last day of a month and especially if it's also the la...
Tue, Sep 30 2025, 3:08 PM
Mortgage rates were just barely lower this morning versus yesterday's latest levels, but most borrowers won't see any major difference from any of the...
Tue, Sep 30 2025, 11:46 AM
“Why do millennials think the government saved their lives? Because they are indebted to it forever.” Here in Colorado, the United States federal gove...
Tue, Sep 30 2025, 11:25 AM
No new news on the probably government shutdown, but betting markets show increased odds, for whatever that's worth. The only reason to watch or care ...
Mon, Sep 29 2025, 5:08 PM
Waiting on Details as Bonds Reinforce The Range
It was a forgettable trading day, but at least slightly stro...
Mon, Sep 29 2025, 3:55 PM
It was an uneventful day for the bond market (and, thus, interest rates) as investors wait for clarity on this week's potential government shutdown. I...
Mon, Sep 29 2025, 11:51 AM
Here in Colorado, banking, credit unions, and independent mortgage banks are a solid part of the economic fabric. LOs here and everywhere are scrambli...
Mon, Sep 29 2025, 10:00 AM
Under normal circumstance, we look forward to the first Friday of any given month as the day that the jobs report takes a swing at sending the stronge...
Fri, Sep 26 2025, 3:54 PM
Last week was a wild one for mortgage rates with the lowest levels in nearly a year on Monday and an abrupt spike after Wednesday's Fed announcement. ...
Fri, Sep 26 2025, 3:01 PM
Existing-home sales held roughly steady in August after tepid uptick in July. That NAR reported a seasonally adjusted annual rate of 4.0 million , do...
Fri, Sep 26 2025, 2:33 PM
New home sales surged in August, breaking a two-year stretch of range-bound activity. The Census Bureau and HUD reported a seasonally adjusted annual ...
Fri, Sep 26 2025, 2:12 PM
Mortgage application activity technically hit another long-term high last week, but that's only because it was riding the coattails of the previous we...
Fri, Sep 26 2025, 11:48 AM
Call them wretched or call them splendid, in Japan, robots and service bots run some restaurants and are indeed taking the place of humans, who have n...
Fri, Sep 26 2025, 10:36 AM
PCE may be the most relevant inflation report when it comes to assessing progress toward the Fed's 2% target, but it is not the most relevant report t...
Thu, Sep 25 2025, 3:54 PM
Reasonably Resilient After AM Losses
In another straightforward trading session, bonds responded logically t...
Thu, Sep 25 2025, 2:47 PM
Thursday was the first day of the week with any meaningful economic reports. This is important to mortgage rates because economic data influences the ...
Thu, Sep 25 2025, 11:45 AM
“I just won $10 in the lottery! The 7-11 clerk wanted to sell me a $10 lottery ticket in Atlanta. I said no.” Hopefully most people realize that a lot...
Thu, Sep 25 2025, 10:54 AM
It's been a fairly straightforward morning so far with economic data coming out much stronger than expected. While the reports in question are not in...
Wed, Sep 24 2025, 4:06 PM
Weaker Thanks to 2 Kinds of "Supply"
At its core, the bond market is like any other financial market, and se...
Wed, Sep 24 2025, 3:41 PM
Over time, mortgage rate movement lines up almost perfectly with movement in the underlying bond market, but there can be day to day discrepancies dep...
Wed, Sep 24 2025, 11:52 AM
“Yesterday I was devastated to learn that the 2025 Psychic Prediction Convention was cancelled due to unforeseen circumstances.” Yesterday, while the ...
Wed, Sep 24 2025, 11:33 AM
It would be an overstatement to say that this week's econ calendar has been "active," but yesterday at least had unscripted comments from Fed Chair Po...
Tue, Sep 23 2025, 4:15 PM
Modestly Stronger After No Whammies From Powell
Last week's press conference with Fed Chair Powell could be ...
Tue, Sep 23 2025, 3:19 PM
Mortgage rates are based on bonds and bonds take their most important cues from big ticket economic reports. But such reports have been in short suppl...
Tue, Sep 23 2025, 11:47 AM
At recent conferences I’ve attended, including here in Atlanta at the Loan Vision Innovation Conference, talk of federal government partisanship, post...
Tue, Sep 23 2025, 11:03 AM
Fed Chair Powell speaks today at a chamber of commerce luncheon in Providence. While the venue may not possess the gravitas of last week's press confe...
Mon, Sep 22 2025, 3:12 PM
After hitting the lowest levels in nearly a year (and nearly the lowest levels in 3 years) last Tuesday, rates lurched higher following Wednesday's Fe...
Mon, Sep 22 2025, 3:47 PM
Slow Burn With Little to Blame
Bonds started out sideways and lost a minimal amount of ground very gradually...
Mon, Sep 22 2025, 11:11 AM
Although the present week brings the release of PCE inflation for August, and although PCE is the most relevant inflation data when it comes to assess...
Fri, Sep 19 2025, 3:35 PM
Officially, our daily mortgage rate index is a hair lower today than it was yesterday. Your mileage may vary depending on the lender in question. Reas...
Fri, Sep 19 2025, 1:49 PM
Builder confidence levels continued kicking a sad little can down the same long and lonesome road. The September National Association of Home Builders...
Fri, Sep 19 2025, 1:30 PM
The Census Bureau’s latest Residential Construction report showed a mixed picture for August, highlighted by a sharp drop in building permits. Total h...
Fri, Sep 19 2025, 12:50 PM
What a difference a week makes for mortgage application demand. As we noted last week, mortgage rates were already trending lower than those captured ...
Fri, Sep 19 2025, 11:44 AM
In China, red symbolizes prosperity, protection, and welcoming energy, and so is a popular front door color for occupants, especially when facing sout...
Fri, Sep 19 2025, 3:31 PM
Uneventfully Sideways At Modestly Weaker Levels
Friday ended up being the least interesting day of the week ...
Fri, Sep 19 2025, 11:23 AM
In your defense, perhaps you're not too bothered or concerned about the market/rate movement since Fed day. But if you are, here's some perspective. W...
Thu, Sep 18 2025, 3:40 PM
It's day two of mortgage rates surging higher--now back to the highest levels in 2 weeks (the day before the September 5th jobs report). The juxtaposi...
Thu, Sep 18 2025, 4:36 PM
Will September Deja Vu Continue?
Rates rallied hard into last September 2024's Fed rate cut and then bounced...
Thu, Sep 18 2025, 11:48 AM
JPMorgan Chase, Citigroup, Wells Fargo and Bank of America, PNC Bank, N.A. and others announced a decrease in its prime lending rate to 7.25 percent, ...
Thu, Sep 18 2025, 9:28 AM
This morning's economic reports (jobless claims and Philly Fed) are not notoriously big market movers, but many analysts gave ample credit to Claims f...
Wed, Sep 17 2025, 4:44 PM
Powell Press Conference Trumps The Dots, Sparking Moderate Sell-Off
Of today's Fed events (rate announcement...
Wed, Sep 17 2025, 3:53 PM
Several things happen on Fed Day--especially on the 4 out of 8 examples with updated rate forecasts from Fed members. The official announcement of a ...
Wed, Sep 17 2025, 2:00 PM
Although swings in net exports continue to affect the data, recent Recent indicators suggest that growth of economic activity moderated in the first...
Wed, Sep 17 2025, 11:41 AM
Today I find myself in Vancouver, WA, splendid in the autumn, to meet with various mortgage folks and especially the Banner Bank mortgage crew, coveri...
Wed, Sep 17 2025, 10:51 AM
The Fed rate announcement is at 2pm ET. A single 25bp rate cut is fully priced in to the bond market and that cut will not be responsible for any vola...
Tue, Sep 16 2025, 4:03 PM
Big Shift Toward 5.0 Coupons Continues
Mortgage rates have lurched rapidly lower in September as 5.0 UMBS ha...
Tue, Sep 16 2025, 3:18 PM
Mortgage rates dropped sharply lower today relative to the amount of movement in the underlying bond market with the average lender right in line with...
Tue, Sep 16 2025, 11:49 AM
My cat Myrtle was always up for a battle with a lizard in the yard. On a larger scale, the ancient Chinese philosopher Sun Tzu said, “Every battle is ...
