Mon, Feb 9 2015, 12:56 PM
The most interesting news overnight was the reaffirmation from Greek leaders that the country is done with austerity, no matter the cost. At this poi...
Mon, Feb 9 2015, 10:59 AM
Next Monday is a Federal Holiday. When I was a kid we had
both Lincoln's and Washington's birthdays off, and it serves as a
reminder that we got g...
Mon, Feb 9 2015, 7:34 AM
In many ways, the current tussle between Greece and its creditors is reminiscent of past iterations. There's some bluffing, posturing, lying, feigned...
Mon, Feb 9 2015, 7:16 PM
After Friday's aggressive sell-off, bond markets managed only a modest bounce back before acquiescing to even weaker levels by the close. There wer...
Mon, Feb 9 2015, 5:16 PM
Mortgage rates , fresh off a rather ugly Friday last week, continued to struggle today. The morning hours were mostly OK. Some lenders were in...
Mon, Feb 9 2015, 3:08 PM
Fannie Mae said today that its monthly National Housing
Survey (NHS) portrayed increasing optimism as both employment and overall
economic figures...
Fri, Feb 6 2015, 11:00 AM
"Rob, do you know where I can find a list of
the largest credit unions?" Yes I do: credit union ranking .
Credit unions in the United States serv...
Fri, Feb 6 2015, 7:05 AM
Oh man... I'm about to say some crazy stuff . If I could go back in time one year and tell myself "hey, past self, in a year you're going to write a...
Fri, Feb 6 2015, 6:13 PM
In a real sense, today's bond market weakness was nothing more than a continuation of February's existing trend on steroids. Multiple asset classes h...
Fri, Feb 6 2015, 4:56 PM
Mortgage rates shot higher at their fastest pace in nearly a year today following this morning's employment data. This also leaves rates at thei...
Fri, Feb 6 2015, 2:16 PM
The National Association of Home Builders ( NAHB ) said today
that nationwide metropolitan area markets are improving at a constant pace and are
n...
Fri, Feb 6 2015, 2:07 PM
This morning's MUCH -stronger than expected NFP hit bond markets while they were already on the back foot in terms of the February trend. It followe...
Fri, Feb 6 2015, 2:02 PM
As
might be expected, as the number of foreclosures has dwindled , so has the number
of so-called zombies . However RealtyTrac
said on Friday th...
Thu, Feb 5 2015, 10:55 AM
In
the last few weeks I have had the opportunity to visit Florida, Oregon,
Colorado, Southern California (its own state), Arizona, Texas, and
Fl...
Thu, Feb 5 2015, 7:32 AM
If you're just getting caught up, here's the long and the short of yesterday's news from the ECB in relation to Greece-inspired Euro-drama.
The re...
Thu, Feb 5 2015, 5:57 PM
Last night, Treasuries attempted to play it safe ahead of the European session by rallying sharply on news they figured would have a big positive effe...
Thu, Feb 5 2015, 4:57 PM
Mortgage rates held their ground today even as trading levels in bond markets suggested a move higher. This has to do with the heads-up I offere...
Thu, Feb 5 2015, 2:43 PM
New initiatives aimed at increasing access to credit and making it more
affordable began to pay off in January according to Mike Fratantoni, the
Mor...
Thu, Feb 5 2015, 2:41 PM
Even though his predecessor as head of the Federal Housing
Finance Agency (FHFA) was adamant in his refusal to consider it, Melvin L. Watt
seems r...
Wed, Feb 4 2015, 9:43 AM
Appraisers, and pet lovers, will find this house dedicated to felines
of interest. Personally, I view it as somewhat quirky. Maybe not so
quirky...
Wed, Feb 4 2015, 8:59 AM
Mortgage activity showed no signs of settling down from its rather wild
and wooly behavio r since the first of the year. Data from the Mortgage Ban...
Wed, Feb 4 2015, 7:37 AM
For the first time in the history of the Day Ahead, I'm referencing an oil inventory report as a solid potential market mover. This is significant,...
Wed, Feb 4 2015, 4:58 PM
Mortgage rates were steady to slightly higher today, depending where you looked and at what time of day. The morning hours brought additional pa...
Wed, Feb 4 2015, 4:39 PM
Unlike yesterday, which had a decent start and crappy conclusion, today's trading session began with bond markets at their weakest levels in more than...
Wed, Feb 4 2015, 1:38 PM
To make a long story short, bond markets have been correcting from their recent rally ever since Greece began correcting from their recent rout . ...
Tue, Feb 3 2015, 12:51 PM
10yr yields are up just more than 7bps to 1.75%. That's bad in the sense that 1.70 is an inflection point that would have been nice to hold, but s...
Tue, Feb 3 2015, 10:20 AM
What's
ahead of us this month? Valentine's Day, that's what. "The Hallmark
Holiday" is quickly approaching and hopefully you have bought your love...
Tue, Feb 3 2015, 10:03 AM
The uninterrupted streak
of annual nationwide price increases was extended to 34 months in December
CoreLogic said today. The company's Home
P...
Tue, Feb 3 2015, 7:33 AM
First thing's first. Let's make a quick distinction between bond market components. When we talk about "incredible momentum," it has nothing to do...
Tue, Feb 3 2015, 5:11 PM
Bond markets began the day by putting in a repeat performance of yesterday's overnight and early morning hours. Both days say a 3-4 bp drift higher ...
Tue, Feb 3 2015, 4:33 PM
Mortgage rates picked up the pace of weakness today, moving higher at their quickest pace of the year. That's the bad news. The good news is th...
Mon, Feb 2 2015, 12:48 PM
December expenditures for construction posted a small gain
in December, rising a scant 0.4 percent over November figures. The Census Bureau said tod...
Mon, Feb 2 2015, 12:33 PM
Overnight and early domestic trading were unkind to bond markets. Global PMI data was generally in line with expectations or slightly stronger. Tr...
Mon, Feb 2 2015, 10:18 AM
The economy is filled with surprises , and people warning us about them
- and us not listening. Every time we fill up our gas tanks we are
remi...
Mon, Feb 2 2015, 7:23 AM
Another week, another chance for markets to express their feelings about European QE, Greek theater, and 'global growth concerns.' So far, these thin...
Mon, Feb 2 2015, 5:08 PM
At one point, today looked like it could be nearly as anticlimactic for bond markets as 2nd goal for the--well... never mind. Nothing is that antic...
Mon, Feb 2 2015, 4:26 PM
Mortgage rates were just slightly higher today, but generally did a good job of holding on to recent gains. For perspective, last Friday was the...
Mon, Feb 2 2015, 3:09 PM
Rising home prices have been a boon to many homeowners but may
not bode as well for those who are facing foreclosure. Black Knight Financial Service...
Fri, Jan 30 2015, 10:48 AM
The
U.S. Census Bureau has published some facts featuring the metro areas
represented by the two teams playing in Super Bowl XLIX (the New England...
Fri, Jan 30 2015, 7:32 AM
The last trading day of the month for bond markets is more interesting than average in its own right. Money managers are busy making sure their hol...
Fri, Jan 30 2015, 5:29 PM
Nothing has materially changed from the Mid-Day recap, so for the nuts and bolts of today's rally, that would be the best place to get caught up:
...
Fri, Jan 30 2015, 3:51 PM
Mortgage rates moved lower today at their fastest pace since January 14th. Rates sheets moved well past recent lows and back to levels not seen ...
Fri, Jan 30 2015, 3:32 PM
When Federal Housing Finance Agency Director Melvin L. Watts
testified before the House Financial Services Committee early this week he said
that FH...
Fri, Jan 30 2015, 3:27 PM
As it said it would, the Consumer Financial Protection
Bureau (CFPB) has taken steps to assist small lenders , particularly those in
rural areas, c...
Fri, Jan 30 2015, 3:26 PM
The topic of income inequality is, as they
say, trending, and this has moved CoreLogic to look at the nature of incomes and
homeowners. In a rece...
Fri, Jan 30 2015, 1:13 PM
The overnight session was orderly and positive for Treasuries. Yields continued mechanically grinding lower from yesterday's bounce at 1.785 (10yr Tr...
Thu, Jan 29 2015, 12:46 PM
While there have been several economic events in the overnight and domestic sessions that seemingly imparted some momentum, bond markets are better de...
Thu, Jan 29 2015, 10:54 AM
The rate at which contracts were signed to purchase homes was down slightly
in December the National Association of Realtors® (NAR) said today. Ev...
Thu, Jan 29 2015, 10:45 AM
"Rob, I just heard of a major lender offering an internal incentive for originating FHA streamline refinances .
The bonus is 100 bps on top of thei...
Thu, Jan 29 2015, 7:32 AM
So much of 2014 was spent building up to the notion of ECB QE and so much of the first 2 weeks of 2015 was dedicated to fully pricing it in that bon...
