Wed, Jun 1 2022, 9:56 AM
Even though mortgage interest rates moved lower again last week, application activity continued to decline. The Mortgage Bankers Association (MBA) sai...
Wed, Jun 1 2022, 9:45 AM
10yr yields weren't able to break convincingly below 2.72% after multiple attempts in the previous week. Friday's final attempt was definitively crus...
Tue, May 31 2022, 4:52 PM
As of last Friday, mortgage rates had enjoyed 3 of their best weeks in a long time. Sure, there were caveats that argued against celebrating the gain...
Tue, May 31 2022, 4:31 PM
Big Losses For Bonds After 3 Weeks of Gains
The last 3 weeks of May were like an oasis in what has otherwise...
Tue, May 31 2022, 11:51 AM
10yr yields bounced at or near 2.72% for 4 straight days heading into the end of last week. Now this morning, they're sharply higher and already abov...
Tue, May 31 2022, 11:09 AM
Yes, it’s already Tuesday. Are we at the top of the market? A pair of Goldman Sachs-backed ventures gobbled up an entire rental home community in Flor...
Fri, May 27 2022, 4:30 PM
The housing market has been keeping its head down, keeping calm, and carrying on in the face of the biggest rate spike since the 1980s. The ability t...
Fri, May 27 2022, 4:20 PM
"Little-Changed" Friday, Both For Bonds and Inflation
Today begins with the much-anticipated PCE inflation d...
Fri, May 27 2022, 12:12 PM
Today begins with the much-anticipated PCE inflation data coming in right in line with expectations. The result: a bond market that was already mostl...
Fri, May 27 2022, 11:07 AM
What guy hasn’t wanted to usher a gal through to a club like Ray Liotta did, masterfully filmed without cutting away? Unfortunately, breaking the spel...
Thu, May 26 2022, 5:21 PM
Rate Ceiling Considerations Ahead of Inflation Data
Rates/bonds were under pressure ahead of today's 7yr Tre...
Thu, May 26 2022, 10:43 AM
The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) in April represents a sixth consecutive monthly decline. The Inde...
Thu, May 26 2022, 10:36 AM
Yesterday I visited Sacramento to speak to an audience of real estate agents and originators in a joint MGIC/Golden 1 Credit Union event. The mood was...
Wed, May 25 2022, 5:48 PM
Bonds Holding Gains Despite Bounce in Stocks; Fed Minutes Uneventful
Today's Fed Minutes proved to be every ...
Wed, May 25 2022, 5:46 PM
Mortgage rates fell again today, bringing them even deeper into their best levels in over a month, but caveats abound. First off. They're still quit...
Wed, May 25 2022, 4:08 PM
Today's weekly mortgage application survey from the Mortgage Bankers Association (MBA) was fairly unsurprising in that applications declined, but at a...
Wed, May 25 2022, 10:47 AM
All the stories that could be told, and so many that have yet to happen. And now 19 that never will be. It is very hard to go about one’s day, whether...
Wed, May 25 2022, 10:02 AM
In the run up to the most recent Fed announcement, the 50bp rate hike was a foregone conclusion. There was some uncertainty about how the Fed would a...
Tue, May 24 2022, 4:59 PM
Mortgage rates have generally been moving lower for more than 2 weeks now. Today's gains were enough to bring them to their best levels in just over ...
Tue, May 24 2022, 4:23 PM
Rate Rally Returns With Help From Housing Data
How about a good, old-fashioned market reaction to weaker eco...
Tue, May 24 2022, 1:43 PM
The housing market has been keeping its head down, keeping calm, and carrying on in the face of the biggest rate spike since the 1980s. The ability t...
Tue, May 24 2022, 11:31 AM
Another day, another headline with the word "stocks." Yesterday it was a stock market recovery pulling bond yields higher. Today it's renewed weakne...
Tue, May 24 2022, 10:53 AM
The last pay phone was removed from New York City yesterday. (Heck, growing up I financed my baseball card purchases by looking for loose change in th...
Mon, May 23 2022, 4:37 PM
Stock Lever Cuts Both Ways as Yields Bounce Higher
While the gains seen in the bond market over the past 2 w...
Mon, May 23 2022, 4:34 PM
Mortgage rates are coming off their best 2 weeks in quite some time--a feat that sounds more impressive than it is by the time we consider the precurs...
Mon, May 23 2022, 12:11 PM
By last Friday, not only had the bond market seen a 2-week improvement for the first time all year, but the ground covered during those 2 weeks was bi...
Mon, May 23 2022, 10:52 AM
I recently opened my slang dictionary to the page that defined the origin of, “Different ways to skin a cat” and left it near my cat Myrtle’s water bo...
Fri, May 20 2022, 11:44 AM
The entire week has been dominated by a close correlation between stock prices and bonds yields. This has been especially noticeable after 9:30am ET ...
Thu, May 19 2022, 5:01 PM
A brutally fast spike to the highest rates in more than a decade comes with some decent consolation prizes. Over the past 2 weeks, it has allowed the...
Thu, May 19 2022, 4:48 PM
How Low Can Stocks Go? (Bonds Want to Know)
Bonds improved overnight and again after this morning's Philly ...
Thu, May 19 2022, 11:13 AM
“One minute you're young and having fun. The next, you're turning down the car stereo to see better.” Gone are the days when all loan officers wanted ...
Thu, May 19 2022, 9:26 AM
Remember when the Fed began to abruptly revise its policy tightening pace at the start of the year and both stocks and bonds began to sell off? That'...
Wed, May 18 2022, 4:37 PM
There has been a lot of volatility in the bond market recently. Because bonds drive interest rate changes, that's meant plenty of volatility in the m...
Wed, May 18 2022, 4:27 PM
What Does Today's Rally Mean For The Bigger Picture?
Bonds began the day in flat to slightly weaker territor...
Wed, May 18 2022, 3:07 PM
The regular monthly release of the New Residential Construction report from the Census Bureau is typically fairly dry. To be fair, this month's updat...
Wed, May 18 2022, 11:54 AM
One side effect of following the market very closely during times of heightened volatility is that the short term developments on any given day run a ...
Wed, May 18 2022, 9:21 AM
As the MBA’s Secondary Marketing Conference wraps up in Manhattan, and the 1,200 or so registered head home and face post-conference life, Rob B. asks...
Wed, May 18 2022, 9:13 AM
Mortgage application activity, which had been on the rebound this month, suffered its largest loss since mid-February during the week ended May 13. A...
Tue, May 17 2022, 4:10 PM
Mortgage rates moved higher today at the fastest pace in 2 weeks. Part of the reason the size of the jump was the fact that rates have done quite wel...
Tue, May 17 2022, 3:56 PM
Another Head Fake Comes and Goes With Help From Data and Powell
As of yesterday, bond yields looked like tha...
Tue, May 17 2022, 3:17 PM
Homebuilder confidence may still be higher than almost any time before the pandemic, but it's now lower than any time since. The post-pandemic lows a...
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...
