Thu, May 28 2015, 5:39 PM
There's 'month-end' and then there's 'month-end.' In a general sense, this entire week can be referred to as month-end as far as bond markets are c...
Wed, May 27 2015, 12:05 PM
On an otherwise quiet morning, bond markets had been holding in reasonably strong territory. MBS and Treasuries began the domestic session at slightl...
Wed, May 27 2015, 10:23 AM
Mortgage applications declined overall for the
fifth straight week even though there was a slight uptick in applications for
purchase mortgages. ...
Wed, May 27 2015, 7:34 AM
While yesterday didn't mark any ground-breaking foray back into the stronger trading levels seen in mid-April, it did end up being the first time si...
Wed, May 27 2015, 6:27 PM
MBS and Treasuries ended the day near their best closing levels since the beginning of the month. It wasn't a given from the outset though, and far...
Wed, May 27 2015, 5:04 PM
Mortgage rates moved sideways-to-slightly lower in most cases today, but only after underlying bond markets fought back from morning weakness. B...
Wed, May 27 2015, 3:45 PM
"There
are three kinds of men. The one that learns by reading. The few who
learn by observation. The rest of them have to piddle on the electric
...
Wed, May 27 2015, 3:39 PM
Freddie Mac said that its
Multi-Indicator Market Index (MiMI) for March continues to indicate a weak
housing market overall but both monthly and q...
Wed, May 27 2015, 2:47 PM
Fannie Mae
has issued a slew of updates, clarifications, and extensions affecting its Selling Guide . Announcement SEL-2015-06 includes the followi...
Tue, May 26 2015, 12:28 PM
The numbers on home price trends for March from the Federal
Housing Finance Agency (FHFA) were somewhat less aggressive that those also
released o...
Tue, May 26 2015, 11:00 AM
New home sales beat most analyst expectations in April,
rising 6.8 percent to a seasonally adjusted annual rate of 517,000 units and
posting a 26....
Tue, May 26 2015, 10:43 AM
Pew Research
finds Millennials (18 to 34 years old) have now surpassed Gen X as the
largest generation in the workforce. Millennials reached 53.5m...
Tue, May 26 2015, 10:28 AM
The
pace of price increases continued virtually unchanged in March with greater year-over-year
appreciation in ten of the 20 cities tracked by S&P D...
Tue, May 26 2015, 7:34 AM
In several ways, last week was a bit of a let-down in terms of answering the big questions. Treasuries and MBS had generally been holding sideways af...
Tue, May 26 2015, 6:22 PM
US rates markets began the global trading session fairly timidly, but moving slightly lower in yield. European hours brought bigger moves as stocks t...
Tue, May 26 2015, 5:20 PM
Mortgage rates were just slightly lower in
most cases today. Last Friday, rates did a bit better than the
underlying market weakness would h...
Tue, May 26 2015, 1:25 PM
Halfway through the day and domestic bond markets are very close to levels not seen since May 8th. 10yr yields are challenging the important 2.14 in...
Fri, May 22 2015, 12:03 PM
Trading has been surprisingly reactive to data this morning with stronger CPI resulting in an obvious selling spree. Up until that point, bond market...
Fri, May 22 2015, 11:22 AM
Yes,
I know it is the Friday before a 3-day weekend, after which it is okay
to wear white shoes to formal events. (And yes, there will be a
comm...
Fri, May 22 2015, 7:34 AM
On the surface , today has a lot of things going for it. The only economic data is CPI, and it would be hard-pressed to convince anyone that inflati...
Fri, May 22 2015, 3:48 PM
Mortgage rates were unchanged on average today, though some lenders were slightly higher or lower than yesterday's latest rate sheets. This is a...
Fri, May 22 2015, 3:19 PM
Surprisingly, the story of the day turned out to be Core CPI coming in at +0.2558 vs a forecast of +0.2. This was apparently enough to send bond mar...
Fri, May 22 2015, 1:42 PM
Fannie
Mae's economists used their May economic and strategic summary to downgrade
expectations for 2015 growth but at the same time painted a slig...
Fri, May 22 2015, 1:27 PM
The National Association of Realtors® is distributing a study it commissioned from the
Swanepoel T3 Group which we expect will generate a lot of disc...
Thu, May 21 2015, 12:30 PM
April 9th. That's the last time bond markets haven't rallied on a Thursday. While some of the older examples in this trend are close calls, the la...
Thu, May 21 2015, 11:01 AM
Existing home sales in April failed both to match their
corresponding numbers in March and to live up to the consensus of analysts in
advance of thi...
Thu, May 21 2015, 10:41 AM
Hundreds
of capital markets folks have returned, bleary-eyed, to their roosts
around the country. Unfortunately, as Cantor Fitzgerald's Dave Gottf...
Thu, May 21 2015, 7:34 AM
Hi, Welcome to the show. Are you ready to play Find That Market Mover?
It's America's favorite game (or at least it's my favorite idea for a to...
Thu, May 21 2015, 5:02 PM
Purchase loans continued to increase as a
percentage of loan originations in April.
Ellie Mae's Origination Insight
Report for the month put the...
Thu, May 21 2015, 5:00 PM
Much of the volatility in late April and early May has been frustratingly opaque in terms of traditional cause and effect relationships. We were forc...
Thu, May 21 2015, 3:38 PM
Mortgage rates moved tentatively lower today. The pace was only slightly better than yesterday when it was all but undetectable. To those expec...
Wed, May 20 2015, 10:36 AM
Lots
of folks here in New York were interested in Freddie Mac bumping its
2015 residential volume estimate to $1.35 trillion*, the upcoming
ho...
Wed, May 20 2015, 9:13 AM
Mortgage application
volume continued a downward spiral during the week ended May 15. The Mortgage Bankers Association's (MBA's)
Market Composite...
Wed, May 20 2015, 7:34 AM
Much has been made of today's FOMC Minutes as some sort of defining moment in the potential long-term shift toward higher rates. Some say it's a re...
Wed, May 20 2015, 5:18 PM
Mortgage rates are ending the day very close to unchanged , following what was--by all rights--a supportive reading of the Fed's April Meeting Min...
Wed, May 20 2015, 5:17 PM
In this morning's commentary , I said that anxiety over today's FOMC Minutes was misplaced when it comes to defining moments in a potential long-te...
Wed, May 20 2015, 1:17 PM
Earlier this week Freddie Mac asked if the housing market recovery could
withstand a rate increase (the answer, with some qualification was yes). No...
Wed, May 20 2015, 1:16 PM
On the whole, it's been a quiet day for bond markets, with the assumption being that volatility will increase after the 2pm release of the FOMC Minut...
Tue, May 19 2015, 11:41 AM
There
are 1,700 capital markets folks wandering around Manhattan, and one of
the topics is that one week Janet Yellen and other Fed officials are ...
Tue, May 19 2015, 10:30 AM
Residential construction numbers soared in April after a
dismal March and both the number of residential permits issued and housing
starts easil...
Tue, May 19 2015, 7:34 AM
The Fed is yet to come this week and that could be the first good opportunity for bonds to decide on their next move from the past few days of consoli...
Tue, May 19 2015, 5:24 PM
Someone wants us to think that rates are heading abruptly higher. Well, to be fair, it's not so much about wanting anyone to think anything. It has ...
Tue, May 19 2015, 3:41 PM
Mortgage rates continued higher at an unsettling pace today, following an exceptionally strong reading on Residential Construction data. This part...
Tue, May 19 2015, 2:00 PM
That headline question is the focus of the May Economic and Housing Outlook produced by
Freddie mac's Office of the Chief Economist.
The economic...
Tue, May 19 2015, 1:22 PM
Remember the "QE-on vs QE-off" trading in 2013? In an extremely overt way, stocks and bonds rallied and sold together based on constantly evolving ...
Mon, May 18 2015, 12:54 PM
Last Monday saw an unpleasant reversal of 2 days of gains heading into the previous weekend. Now this Monday is going through some of the same motion...
Mon, May 18 2015, 12:10 PM
While they were discussing different vintages, home sellers
have a slightly more upbeat outlook on home sales then do the builders of those
homes. ...
Mon, May 18 2015, 9:40 AM
The
last seven days has involved a little travel for me: Oregon, Incline
Village in Nevada, and now Manhattan for the MBA's Secondary Marketing
...
Mon, May 18 2015, 7:34 AM
If you've been out for 3-4 weeks, welcome back. Bonds have been selling off rather abruptly and now we're hoping for a bounce. We thought we had one...
Mon, May 18 2015, 5:16 PM
After Thursday and Friday of last week mimicked the previous Thursday and Friday, it was fair to wonder if we'd get another ugly Monday today. Whil...
