Tue, Apr 25 2023, 12:34 PM
New home sales figures bounced higher again in Marc h, outperforming February sales by 9.6 percent. The U.S. Census Bureau and Department of Housing a...
Tue, Apr 25 2023, 11:17 AM
Weaker earnings from a few notable names, including First Republic Bank... Weaker economic outlooks at home and abroad... Debt ceiling trepidation......
Tue, Apr 25 2023, 9:51 AM
While here in Denver I received an email. “Rob, does what’s going on in Florida impact lenders?” I had to figure out if the author was asking about Di...
Mon, Apr 24 2023, 4:07 PM
While the news media bonfire on the recent LLPA tweak is only getting started, it's time for us to shift gears back to boring old mortgage rates (if y...
Mon, Apr 24 2023, 3:53 PM
Should Have Taken The 3-Day Weekend!
Every so often, the bond market has a Monday that does absolutely nothi...
Mon, Apr 24 2023, 1:05 PM
The bond market remains in an aggressively sideways holding pattern as traders wait for economic data and events that have enough street cred to meani...
Mon, Apr 24 2023, 9:31 AM
I head to Colorado Springs this morning, the scene of $3,000 mountain bikes in bike racks on top of $500 cars. There are roughly 380 bank branches in ...
Fri, Apr 21 2023, 5:06 PM
Seemingly overnight, the internet is awash with news regarding a "new," unfair tax on mortgage borrowers with higher credit scores. Some have gone so ...
Fri, Apr 21 2023, 5:01 PM
From Slightly Stronger to Slightly Weaker After PMI Data
The "data dependent" theme kept on rockin' all week...
Fri, Apr 21 2023, 1:06 PM
Bonds began the day in roughly unchanged territory and made some gains early. The 9:45am PMI data was the only item on the calendar and we'd consider...
Fri, Apr 21 2023, 10:17 AM
California, home of nearly 25 percent of home loans, is doing some interesting things, utility-wise. Last year came AB 205 which instructs the state’s...
Thu, Apr 20 2023, 4:54 PM
The National Association of Realtors (NAR) measures the sales of previously owned homes. These so-called Existing Home Sales account for a vast major...
Thu, Apr 20 2023, 4:36 PM
As is typical on any given Thursday, many media outlets are citing Freddie Mac's weekly rate survey. This week's installment suggests rates are highe...
Thu, Apr 20 2023, 10:44 AM
Merry 420, which coincidentally was the yield on the 2-year Treasury note early today. Data and lawsuits about data… What’s in your wallet? Or maybe I...
Thu, Apr 20 2023, 10:36 AM
The bond market is certainly in a lull in terms of highly consequential data and events. It will be almost a full two weeks before the next Fed meeti...
Wed, Apr 19 2023, 4:52 PM
Mortgage rates had been just over 7% at the beginning of March. Then the failure of Silicon Valley Bank kicked off a mini banking crisis that; when c...
Wed, Apr 19 2023, 4:43 PM
Bonds Battle Back After Threatening The Range Yet Again
If yesterday looked like a challenge to the prevaili...
Wed, Apr 19 2023, 11:54 AM
The bond market is nothing if not willing to react to economic data these days. After all, that data will add up to a very big revelation regarding t...
Wed, Apr 19 2023, 9:57 AM
“Yesterday I asked my kindergartener what she did in school, and she replied ‘nothing,’ then later I went on Instagram and her teacher had posted a pi...
Wed, Apr 19 2023, 8:41 AM
The Mortgage Bankers Association (MBA) said its Market Composite Index for the week ended April 14 was down 8.8 percent on a seasonally adjusted basis...
Tue, Apr 18 2023, 4:54 PM
Mortgage rates had a calmer day on Tuesday compared to Monday with the average lender only moving up by less than an eighth of a percent. Lenders who...
Tue, Apr 18 2023, 4:42 PM
Super Sideways After AM Volatility
It turned out to be an intensely uneventful day for the bond market after...
Tue, Apr 18 2023, 12:39 PM
Residential construction data for March didn’t come close to matching February’s performance, but the rate of housing starts held its own. The good n...
Tue, Apr 18 2023, 12:34 PM
In a week without an obvious focus or flashpoint for the bond market, it wouldn't be too surprising to see traders fall back on a range-trading strate...
Tue, Apr 18 2023, 8:48 AM
“Last week I told a joke over a Zoom meeting. It wasn’t even remotely funny.” Working remotely from home, or at least adopting a hybrid model, is some...
Mon, Apr 17 2023, 4:52 PM
After bottoming out at the lowest levels in months in the first week of April, mortgage rates have been rising fairly quickly. As of this afternoon, ...
Mon, Apr 17 2023, 4:35 PM
Frustratingly Persistent Selling Pressure in Bonds
Bonds got off to a rocky start well before the domestic s...
Mon, Apr 17 2023, 2:05 PM
The index that measures the confidence of new home builders in the market for their product inched slightly higher again in April. The National Associ...
Mon, Apr 17 2023, 12:31 PM
If you had to reduce the past few weeks of bond market movement to the most basic of explanations, you might say that the jobs report on April 7th led...
Mon, Apr 17 2023, 9:28 AM
A friend of mine who lives in her own unit in a mobile home park was telling me that her rent is about to go up by a huge amount, and said that, “That...
Fri, Apr 14 2023, 3:57 PM
Does E-Commerce Surge Help Explain Friday's Sell-Off?
The day began with a puzzler: bonds sold off abruptly ...
Fri, Apr 14 2023, 12:32 PM
Perhaps there's some recency bias in play, but we're hard pressed to remember a big, obvious bond market sell-off in response to a big miss in Retail ...
Fri, Apr 14 2023, 9:42 AM
Who is Harrison Ruffin Tyler? Answer: He is the last living grandchild of former U.S. president John Tyler, born in 1790. (Tyler was President from 18...
Thu, Apr 13 2023, 5:34 PM
There are several ways to get an idea of where mortgage rates are on any given day, but if that day is a Thursday, you're most likely to get that idea...
Thu, Apr 13 2023, 5:16 PM
Longer Term Rates Lose Ground Despite Softer Inflation
Today's initial focus was on the big drop in Producer...
Thu, Apr 13 2023, 10:19 AM
(Warning: cuteness ahead.) How does it feel to be a loan officer dealing with multiple borrowers on one loan? The study of how people borrow money, an...
Thu, Apr 13 2023, 9:26 AM
If only the bond market cared as much about producer prices as it does for consumer prices! The latter had a fine showing yesterday with CPI coming i...
Wed, Apr 12 2023, 4:25 PM
If we could only blame one thing for the huge jump in interest rates seen since early 2022, it would be inflation. That fact led to a high degree of ...
Wed, Apr 12 2023, 4:11 PM
Mixed Reactions to CPI and Fed Minutes
This morning's "as-expected" inflation data was very well received by...
Wed, Apr 12 2023, 10:44 AM
The importance of economic reports like the Consumer Price Index (CPI) cannot be overstated in the current environment. Case in point, this month's i...
Wed, Apr 12 2023, 10:29 AM
This morning I head from Seattle to Atlanta for some MBA/STRATMOR Peer Group meetings. Seattle has its share of hipsters, and sometimes one needs a tr...
Wed, Apr 12 2023, 8:23 AM
Mortgage applications increased last week for the fifth time in six weeks. The Mortgage Bankers Association (MBA) said its Market Composite Index, a m...
Tue, Apr 11 2023, 4:50 PM
Mortgage rates didn't do much today (the average lender drifted microscopically, and Wednesday's CPI data has infinitely more power to move the needle...
Tue, Apr 11 2023, 4:29 PM
All Eyes on CPI
Wednesday morning brings the most consequential economic data of the next several weeks in t...
Tue, Apr 11 2023, 12:19 PM
With the global financial market mostly firing on all cylinders after the various closures of the holiday weekend, the post-NFP defensiveness remains ...
Tue, Apr 11 2023, 10:22 AM
“The human brain is the most amazing organ in the human body. It works 24 hours a day, 365 days a year, from birth up until the moment that you buy yo...
Mon, Apr 10 2023, 4:00 PM
Unofficially Still Waiting For The Week to Begin
Bonds took today to get caught up after an unconventional h...
Mon, Apr 10 2023, 3:54 PM
Mortgage rates put in a great performance last week--especially if you stopped paying attention on Thursday. At that time, it was the best weekly dro...
Mon, Apr 10 2023, 12:34 PM
The juxtaposition of an uncharacteristically early close on Friday, an important nonfarm payrolls release, and widespread holiday closures in European...
Mon, Apr 10 2023, 11:14 AM
Fannie Mae’s monthly survey of consumers’ attitudes toward buying or selling a home and their own financial situation showed a mixture of sentiments i...
