Tue, May 17 2022, 11:33 AM
Bonds have had a good run recently--perhaps their best when it comes to arguing for a ceiling to cap the brutal rate spike of 2022. The week began wi...
Tue, May 17 2022, 10:40 AM
Keeping things in perspective, last Thursday the White House announced a raft of measures to alleviate the ongoing baby formula shortage, which has wo...
Mon, May 16 2022, 4:19 PM
Mortgage rates are coming off of one of their best weeks in nearly 2 years, which isn't quite as glamorous as it sounds, but still a good accomplish...
Mon, May 16 2022, 4:01 PM
Bonds Hold Decent Gains to Start New Week
After mixed trading overnight, bonds began the day in the US at re...
Mon, May 16 2022, 12:01 PM
Bonds shook off a bit of weakness in Europe to start the new week in slightly stronger territory. Gains have continued into domestic hours, which bri...
Mon, May 16 2022, 10:16 AM
Plenty of capital markets folks, senior management, and the usual cadre of vendors are here in Manhattan, doing the macarena until 2AM. Okay, just kid...
Fri, May 13 2022, 6:05 PM
Mortgage rates have moved higher at the fastest pace in decades so far in 2022, but this week proved to be a refreshing exception. To understand why,...
Fri, May 13 2022, 3:47 PM
Weaker Today, But Stronger vs Last Week. Stocks in Control
Blaming stocks for movement in the bond market (a...
Fri, May 13 2022, 11:13 AM
The relationship between stocks and bonds is much more complicated than most people assume. Conventional wisdom holds that stock prices and bond yiel...
Fri, May 13 2022, 9:28 AM
English grammar… what a hassle. Is it "lay" or "lie"? - Are you sure you're using them correctly? “Than” versus “then?” One should use “than” only wit...
Thu, May 12 2022, 4:34 PM
Multiple headlines are citing higher mortgage rates today. Even if you read past those headlines, you'd still be left with the impression that this w...
Thu, May 12 2022, 4:20 PM
Finally Time to Start Entertaining an Actual Shift?
Bonds have made several attempts to consolidate and boun...
Thu, May 12 2022, 12:48 PM
The volume of commercial and multifamily mortgage loan originations jumped 72 percent in the first quarter of 2022 compared to a year earlier. The M...
Thu, May 12 2022, 11:22 AM
For the first time in months (and longer than that if we factor out the artificial/temporary boost from the Ukraine flight to safety) bond yields are ...
Thu, May 12 2022, 8:37 AM
Jobs & transitions Lender & broker software and services Tech Survey: who’s doing what Capital markets: rates drop
Wed, May 11 2022, 3:54 PM
Bonds Bounce Back Despite Hotter Inflation Data
Feel free to call it a comeback, but don't ask why it happen...
Wed, May 11 2022, 3:20 PM
Mortgage rates almost hit a new 2 week low today. That's the first time we've been able to say that since early March when markets were still react...
Wed, May 11 2022, 10:43 AM
Both at the headline and core levels, April's Consumer Price Index (CPI) came in hotter this morning. This was a high-consequence report for bonds, a...
Wed, May 11 2022, 9:54 AM
Remember: April is National Procrastination Month! I could tell that my cat Myrtle was displeased the other morning. She’s very secretive about her fi...
Wed, May 11 2022, 9:28 AM
Mortgage application volume continued its recovery last week driven by a second strong increase in purchasing activity. The Mortgage Bankers Associati...
Tue, May 10 2022, 4:13 PM
By the middle of the day today, certain rates at many mortgage lenders were a quarter of a percent lower than they were yesterday morning. A drop of ...
Tue, May 10 2022, 3:57 PM
Another Solid Day, But It's All About Wednesday's CPI
Bonds managed to post a 2nd consecutive day of gains o...
Tue, May 10 2022, 11:13 AM
Black Knight says the steep ascent of mortgage rates, the 30-year conforming jumped 63 basis points in April, was matched by a sharp drop in rate lock...
Tue, May 10 2022, 10:00 AM
For the 3rd or 4th time (depending on your standards), yields are attempting to find a ceiling after launching abruptly higher in early March (1.67% t...
Tue, May 10 2022, 9:46 AM
Consumers opinion about the wisdom of buying a home went underwater in April 2021 and continues to sink. Fannie May says the question about whether it...
Mon, May 9 2022, 3:58 PM
2022 has been the year of volatility for mortgage rates with most of the swings resulting in successive runs to long-term highs. Every now and then...
Mon, May 9 2022, 3:49 PM
Big Bond Rally to Start The New Week
In spite of potential headwinds in the coming days (CPI data and Treasu...
Mon, May 9 2022, 11:31 AM
Depending on when you looked this morning, MBS prices may have been red or green, and the gap between any two quotes was rather large (a quarter of a ...
Mon, May 9 2022, 9:59 AM
Recently in Reno I overheard someone predict, “Forget Wikipedia. How about someone create ‘Liquorpedia’ with an encyclopedia of alcohol and drink reci...
Fri, May 6 2022, 4:58 PM
It was yet another tough week for the mortgage market with rates rising to their highest levels since 2009, but how high have they actually risen? Th...
Fri, May 6 2022, 4:54 PM
Rates Give Up After Briefly Trying to Hold Yesterday's Ceiling
There really weren't any new reasons for the ...
Fri, May 6 2022, 12:29 PM
The jobs report is traditionally the most important piece of economic data on any given month. It's even had the power to move the bond market as rec...
Fri, May 6 2022, 9:47 AM
Here’s a stream of consciousness paragraph for you. “Rob, what are you hearing about companies laying off, furloughing, right-sizing, whatever, employ...
Thu, May 5 2022, 6:49 PM
Good news continues to be in short supply for mortgage rates. In fact, even the good news has ended up being bad on many recent occasions. Today i...
Thu, May 5 2022, 4:40 PM
Big Sell Off After a Nice Rally. Blame The Fed Either Way?
Today was one of the rare breed where both stock...
Thu, May 5 2022, 1:04 PM
Solid Fed day and solid rally in response yesterday... Now today, it's not just a complete 180°, but a 180° plus more insult to injury as yields surg...
Thu, May 5 2022, 10:09 AM
Life is complicated. Take the Black Knight purchase by ICE. Some vendors are out there licking their chops at their company’s valuation while others a...
Wed, May 4 2022, 4:47 PM
Today brought the much-anticipated policy announcement from the Federal Reserve. Many people mistakenly believe that the Fed's present day decisions ...
Wed, May 4 2022, 4:30 PM
Fed Finally Sticks to Script. Bonds Like It
Fed days have seen a series of increasingly hawkish adjustments ...
Wed, May 4 2022, 2:01 PM
Indicators Although of overall economic activity edged down in the first quarter, household spending and employment business have fixed ...
Wed, May 4 2022, 10:11 AM
May the 4th be with you! Without the lisp, there are many forces tugging at lenders and vendors. Forget 2020 and 2021. Recruiters are asking LOs what ...
Wed, May 4 2022, 10:09 AM
At the risk of repeating too many words from yesterday's recap, we'll leave it at this: the Fed will hike by 50bps today. It won't be a surprise to t...
Wed, May 4 2022, 9:52 AM
The volume of mortgage application submitted during the week ended April 29 ended a seven-week slide. The Mortgage Bankers Association (MBA) said purc...
Tue, May 3 2022, 4:23 PM
Mortgage rates hit their highest levels since 2009 yesterday amid the fastest spike since the early 1980s. Today's rates were very similar on avera...
Tue, May 3 2022, 4:03 PM
Fed Day Preview: What Are They Doing and How Much Will Bonds Care?
Given all the bond market volatility seen...
Tue, May 3 2022, 2:08 PM
Total construction spending continues to roar ahead of its 2021 pace, led again in March by another double digit increase in the residential compone...
Tue, May 3 2022, 11:23 AM
10yr yields came into the day looking comfortable in the rejection of the 3% ceiling that was briefly tested yesterday and overnight. That occurred a...
Tue, May 3 2022, 10:19 AM
With the yield on the risk-free 10-year Treasury note hitting 3 percent for the first time since 2018, you deserve some cutting-edge humor. Two hats w...
Mon, May 2 2022, 4:06 PM
Rocky Start to Fed's Normalization Revelation Week
The Fed has been in full-fledged policy tightening mode i...
Mon, May 2 2022, 3:44 PM
The hits keep coming for mortgage rates in 2022. Not since the early 80s have rates risen as quickly as they have in the past 2 months (or the past 4...
