Tue, Apr 7 2015, 3:57 PM
The morning and early afternoon hours were mildly disconcerting for bond markets as recent losses extended. Even so, most of the losses were in befor...
Tue, Apr 7 2015, 3:56 PM
Mortgage rates began the day moving slightly higher , further adding to the bounce back from Friday's 2-month lows. This time around, however, th...
Mon, Apr 6 2015, 12:11 PM
The National Association of Realtors®
(NAR) recently hosted a meeting of about a dozen real estate and mortgage
industry experts to examine the curr...
Mon, Apr 6 2015, 12:06 PM
It has been a common theme from industry analysts and home
sales and construction reports for at least five years; the recovery is being
hampered, p...
Mon, Apr 6 2015, 10:19 AM
Late last week someone asked me about HUD's Equal Access Rule .
A month or so ago Bankers Advisory released a notice regarding HUD's
update to eq...
Mon, Apr 6 2015, 7:34 AM
Insanely huge beats or misses in NFP data are always interesting. They seem to have an uncanny ability to completely change the tenor of conversati...
Mon, Apr 6 2015, 4:46 PM
In terms of market movement and new developments, there's nothing to add to the mid-day update . Bond markets were under mild pressure at the outset...
Mon, Apr 6 2015, 3:55 PM
Mortgage rates have now given back the ground gained after Friday's big jobs report. To put that in perspective, rates are now modestly higher t...
Mon, Apr 6 2015, 1:10 PM
The overnight session was predictably uneventful with most of the world still out of the office for the Easter holiday. Plenty of market participants...
Fri, Apr 3 2015, 12:07 PM
Mortgage rates scored a major victory today at the expense of the labor market. Recent examples of the Employment Situation Report (the big "jobs ...
Fri, Apr 3 2015, 12:02 PM
NOTE : This is the mid-day and the 'recap' as bond markets are not only closing early (noon ET), but were effectively closed after the initial NFP rea...
Fri, Apr 3 2015, 10:34 AM
Mortgage profits declined in the fourth
quarter of 2014 compared to the previous quarter but soared when compared to the
fourth quarter of 2013. I...
Fri, Apr 3 2015, 10:18 AM
Another source is affirming that the rapid growth in home
prices that started in 2013 has continued to slow and that the deceleration is
broad base...
Fri, Apr 3 2015, 10:11 AM
Mergers and acquisitions
valued at $811.8 billion have been announced this quarter globally, up
21% compared with Q1 of 2014, according to Thomso...
Fri, Apr 3 2015, 7:34 AM
It's always a struggle to think of something to say on the morning of the jobs report before the jobs report actually comes out. It will be whatever ...
Thu, Apr 2 2015, 12:58 PM
Even as some in the industry apparently hope for a reprieve
from implementing new mortgage disclosure forms the Consumer Financial
Protection Bure...
Thu, Apr 2 2015, 12:54 PM
Yesterday's recap noted an increased risk of weakness today due to the technical bounce at 1.852. Here it is.
No, really, today is pretty much ...
Thu, Apr 2 2015, 9:36 AM
The MBA tells us that independent
mortgage banks and mortgage subsidiaries of chartered banks "average
production volume totaled $417 million per ...
Thu, Apr 2 2015, 7:28 AM
There's another day to go before NFP, but today is no slouch . Not only are trading levels currently evaluating a bounce at a long term inflection p...
Thu, Apr 2 2015, 5:12 PM
Mortgage rates bounce higher today on average. Some lenders remained close to unchanged, but they generally were the same lenders that hadn't impr...
Thu, Apr 2 2015, 4:42 PM
Bond markets sold off today, and when you see the longer term chart below, it's hard to be too upset about it. The chart not only serves to provide ...
Wed, Apr 1 2015, 10:00 AM
Residential
lenders across the land wonder at their good fortune for great
origination volumes in March, with many setting records, and they are t...
Wed, Apr 1 2015, 9:08 AM
The volume of mortgage applications increased for both refinancing and
purchasing during the week ended March 27.
It was the second consecutive wee...
Wed, Apr 1 2015, 7:34 AM
As the new quarter begins, let's pause to consider where we should be looking for bond market motivation. What has been motivating rate movements so ...
Wed, Apr 1 2015, 5:33 PM
Today went off without a hitch for bond markets. A rally in European debt overnight (strong German bond auction) helped Treasuries and MBS start th...
Wed, Apr 1 2015, 4:58 PM
Mortgage rates fell appreciably today , this time at the fastest pace of the current winning streak. In fact, it was the biggest move lower since t...
Wed, Apr 1 2015, 1:02 PM
Granted the day is not over yet, but at this point, a full-scale reversal of the morning's momentum is unlikely. As expected, with month-end out of t...
Wed, Apr 1 2015, 1:02 PM
Overall construction spending in the U.S. was essentially
unchanged from January to February and there was only slight movement in both
public and...
Tue, Mar 31 2015, 12:43 PM
After a relatively uneventful overnight session, bond markets began the day in slightly stronger territory. The shorter end of the yield curve began ...
Tue, Mar 31 2015, 10:57 AM
Amelia
Earhart was quoted as saying, "Never interrupt someone doing something
you said couldn't be done." Few thought that the refi boom could hav...
Tue, Mar 31 2015, 10:47 AM
Home
prices flattened on a month-over-month basis in January even as annual prices
continued to increase S&P Dow Jones Indices said today. The ...
Tue, Mar 31 2015, 7:34 AM
Today is the last day of the month and quarter (or the fiscal year-end for many domestic entities or the entire nation of Japan). That makes the end...
Tue, Mar 31 2015, 5:12 PM
It's rare that I'll decide to include a chart with a shorter maturity yield curve constituent in the Day Ahead. In this morning's case, that happened...
Tue, Mar 31 2015, 4:46 PM
Mortgage rates fell again today
extending a 3 day winning streak after shooting abruptly higher in the
middle of last week. That damage hasn't...
Tue, Mar 31 2015, 3:03 PM
Nationwide said on Tuesday that the overall housing market
is healthier than at any time since 2001 , the earliest point for which data is
availabl...
Mon, Mar 30 2015, 10:59 AM
Contract signings in the Midwest and South in February drove
pending home sales to their highest level in nearly two years. The National Association...
Mon, Mar 30 2015, 9:38 AM
In
like a lion, out like a lamb? Usually folks say that about March's
weather, not the economy. But economic data so far in the first quarter
ha...
Mon, Mar 30 2015, 7:34 AM
As is often the case, this week has the dual distinction of hosting 'month-end' as well as nonfarm payrolls. Until recently, the ECB was almost alw...
Mon, Mar 30 2015, 5:16 PM
For MBS, today was substantially similar to Friday, with a narrow but positive trading range and little fanfare surrounding any headline event. That'...
Mon, Mar 30 2015, 3:59 PM
Mortgage rates fell moderately
to begin the week, but haven't yet returned to recent lows. Even so,
the improvement is a relief considering ra...
Mon, Mar 30 2015, 1:14 PM
The first two days of this week stand a good chance to see the momentum driven not by the events that transpire, but by the trades that must be made b...
Fri, Mar 27 2015, 10:35 AM
I
love it when I receive an e-mail warning me, "You've had unusual and
suspicious activity on your American Express Card." I don't have an
Ameri...
Fri, Mar 27 2015, 7:34 AM
There's been a lot of talk about GDP recently, but it's important to keep in mind that most of it has to do revised GDP estimates for the first quar...
Fri, Mar 27 2015, 4:55 PM
It's that time again. Or, at least it will be next Friday. After 2 months in a row of painful NFP reactions in bond markets, the big jobs report is ...
Fri, Mar 27 2015, 4:21 PM
Mortgage rates had one of their least exciting days of the week today, moving just modestly lower from yesterday's latest levels. The trading ra...
Fri, Mar 27 2015, 2:48 PM
The old maxim that a household rents only until it can
afford to buy a home is apparently being stood on its head in a lot of housing
markets. A st...
Fri, Mar 27 2015, 1:05 PM
With the exception of only a few trades during a few minutes, Fannie 3.0 MBS prices have remained in a range of 101-28 to 101-29 this morning. That'...
Thu, Mar 26 2015, 12:28 PM
In the past five years there has been a monumental shift in
mortgage loan servicing. Bank servicing
subsidiaries, which once dominated in the mar...
Thu, Mar 26 2015, 12:13 PM
While a study released on Thursday by
RealtyTrac shows a huge discrepancy between the growth in home prices and
increasing wages, it appears that ho...
Thu, Mar 26 2015, 12:02 PM
It's been a strange week for domestic bond markets so far. Just 2 short days ago, bonds were rallying with a seeming disregard for negative cues fr...
