Mon, Feb 14 2022, 12:27 PM
According to the National Association of Homebuilders (NAHB), 87.5 million households, 69 percent of the nation’s total, cannot afford to buy a new m...
Mon, Feb 14 2022, 12:14 PM
Sometimes, someone unexpected comes into your life outta nowhere, makes your heart race, and changes you forever. We call those people cops. (Where di...
Mon, Feb 14 2022, 11:34 AM
Last Friday's big news involved a series of headlines suggesting imminent Russian invasion of Ukraine. This sent stocks and especially bond yields pl...
Fri, Feb 11 2022, 7:31 PM
There were 3 distinct parts to this week. The first part consisted of the entirety of the first 3 days. Rates didn't move much as the market contin...
Fri, Feb 11 2022, 4:23 PM
Massive Reversal After Russia/Ukraine Headlines
Quite the round trip today as bond yields hit the weakest le...
Fri, Feb 11 2022, 11:49 AM
Consumer Sentiment was the only report on the calendar today. Markets typically don't pay too much attention to it and today is no exception. Market...
Fri, Feb 11 2022, 11:01 AM
The sources that gather such data have all reported a steady decline in mortgage delinquencies since last summer and are all stages are now close to t...
Fri, Feb 11 2022, 11:00 AM
If you see someone buying candy, popcorn, and soda at the movies, they must be a drug dealer... There's no other explanation for that type of income! ...
Thu, Feb 10 2022, 4:10 PM
Bonds Obliterated. Why and What Next?
Today was an astonishingly bad day for the bond market relative to wh...
Thu, Feb 10 2022, 1:53 PM
For the second time this week a major report on loan performance has confirmed that homeowners are recovering rapidly from the pandemic. The Nationa...
Thu, Feb 10 2022, 12:39 PM
While recent reports from Black Knight and CoreLogic show price increases continuing at record levels, the National Association of Realtors® (NAR) rep...
Thu, Feb 10 2022, 12:22 PM
There are many different ways to track mortgage rates and several different sources quoted in the news. For decades, the most prevalently-quoted sour...
Thu, Feb 10 2022, 12:07 PM
Everyone has a story about something they said or asked that they shouldn’t have. “When are you due?” is a good one, as is asking, “When did you turn ...
Thu, Feb 10 2022, 9:45 AM
The history of financial markets is littered with modestly higher CPI numbers that failed to cause any volatility. Today is shaping up to be quite th...
Wed, Feb 9 2022, 4:28 PM
The day began with so much potential --at least in the sense that it could have served as the foundation for slightly lower mortgage rates this after...
Wed, Feb 9 2022, 4:11 PM
Strong Auction But Bonds Retreat at The Close
This morning's market summary headline mentioned the strong st...
Wed, Feb 9 2022, 1:40 PM
CoreLogic is tying the current mortgage delinquency rate, which is back to pre-pandemic levels , to growth in the nation’s income. The company says t...
Wed, Feb 9 2022, 11:44 AM
US and EU yields continue to correlate fairly well. This is a blessing and curse--sometimes both at the same time depending on the point of view. Fo...
Wed, Feb 9 2022, 9:27 AM
Today is “National Pizza Day,” a made-up day that wasn’t around when Jimmy Carter was sworn in as president 45 years ago. Back then the yield on the r...
Wed, Feb 9 2022, 8:35 AM
Mortgage application volume surged 12 percent two weeks ago but gave back a large chunk of that gain during the week ended February 4. last week. ...
Tue, Feb 8 2022, 4:42 PM
Last Friday continues to be the epicenter of the most recent push to multi-year highs for mortgage rates. The average lender jumped by roughly an e...
Tue, Feb 8 2022, 4:15 PM
More Long-Term Rate Highs, But No New Reasons
Bonds were in sell mode right from the start of the overnight ...
Tue, Feb 8 2022, 11:29 AM
How low can it go? Well, lower than ever apparently when it comes to consumers who think it's a good time to a home. The total fell 1 point to a rec...
Tue, Feb 8 2022, 9:51 AM
1.95% was a tremendously important technical ceiling in late 2019 before covid. It lay dormant for more than 2 years until the early 2022 sell-off put...
Tue, Feb 8 2022, 8:47 AM
America's national debt topped $30 trillion for the first time, according to figures from the Treasury Department on Tuesday. Why might it matter for ...
Mon, Feb 7 2022, 4:01 PM
Uneventfully Holding Near Long-Term Rate Highs
This morning's commentary centered on last Friday's dark hors...
Mon, Feb 7 2022, 1:29 PM
Black Knight did not publish a Mortgage Monitor in January, so the new issue looks at the mortgage market at the end of 2021 into the early days of 20...
Mon, Feb 7 2022, 11:18 AM
While brokers have taken note of UWM suing America’s MoneyLine for sending loans to Rocket and Fairway (remember UWM’s policy plainly stated last Marc...
Mon, Feb 7 2022, 9:53 AM
It was easy to focus on elephant in the room last week as most of the US bond market weakness came in apparent response to Friday's jobs report. But ...
Fri, Feb 4 2022, 5:01 PM
Aren't Bonds Overreacting to a Jobs Report That Wasn't Supposed to Matter?
The Fed already declared victory ...
Fri, Feb 4 2022, 1:46 PM
Goals are good. Anyone whose goals included bringing back serving alcohol on Southwest flights is happy. It is fine for the Biden Administration to hi...
Fri, Feb 4 2022, 1:31 PM
This wasn't supposed to happen. The bond market shouldn't have cared about today's jobs data. The Fed had already declared victory on jobs and mov...
Fri, Feb 4 2022, 12:29 PM
Rates have been trending higher in fits and starts since August 2020, but the mortgage market was insulated from much of the pain due to its disconn...
Thu, Feb 3 2022, 4:27 PM
What a difference a day makes. Unfortunately, it's an unpleasant difference in this case as mortgage rates went from the lowest levels in more than a...
Thu, Feb 3 2022, 4:05 PM
Weakness Reinforces Range Ahead of Jobs Report
Foreign central bank announcements pushed bond yields higher ...
Thu, Feb 3 2022, 11:37 AM
The U.S. Census Bureau says the nation’s homeownership rate was essentially unchanged through 2021. While it dipped 0.3 percentage point from the fo...
Thu, Feb 3 2022, 11:31 AM
Andy Rooney died over ten years ago. Many will say that Bill Mahr has taken his place, albeit with saltier language and a political bent. In this piec...
Thu, Feb 3 2022, 9:41 AM
The European Central Bank (ECB) and Bank of England (BOE) were both out with policy statements this morning. Only one of those--the contentious rate ...
Wed, Feb 2 2022, 4:02 PM
Bonds Uninterested in Huge ADP Miss; Another "Inside Day"
For the third day in a row now, bonds spent a dece...
Wed, Feb 2 2022, 3:36 PM
After a month like January (where rates rose very quickly), we'll take any victory we can get. In today's case, that means the celebration of rates...
Wed, Feb 2 2022, 2:20 PM
Construction spending totaled $1.599 trillion in 2021, an increase of 8.2 percent from the $1.470 trillion spent in 2020. Residential spending, both...
Wed, Feb 2 2022, 10:04 AM
For the second morning in a row, bonds have traded on both sides of unchanged. While today's swings haven't been as big as yesterday's, the lead chan...
Wed, Feb 2 2022, 9:30 AM
Here we are at Groundhog Day. A rodent predicting the weather has little tie-in with the 1993 movie of repeating the same day over and over again. Loc...
Wed, Feb 2 2022, 9:23 AM
Mortgage volume during the week ended January 28 recovered from a 7 percent decline the previous week to post the largest non-holiday related gain sin...
Tue, Feb 1 2022, 5:35 PM
Bonds Settle Sideways After Volatile Morning
The overnight session took bonds to stronger levels with 10yr y...
Tue, Feb 1 2022, 12:47 PM
January may have ended on a positive note, and the early morning hours of February may have held similar promise, but as the new trading month begins,...
Tue, Feb 1 2022, 11:49 AM
Home prices averaged year-over-year gains of 15 percent over the 12 months of 2021 compared to an average gain of 6.0 percent in 2020. CoreLogic’s H...
Tue, Feb 1 2022, 11:43 AM
Hundreds of billions of servicing are being bought & sold out there. With Freddie & Fannie servicing trading at 5:1 (mid 3’s for Ginnie servicing), gi...
Tue, Feb 1 2022, 9:58 AM
The monthly Originations Insight Report from ICE Mortgage Technology typically shows only incremental changes in loan characteristics from month to ...
Mon, Jan 31 2022, 3:57 PM
Wild Month Ends Uneventfully For Bonds
The first 3 and a half weeks of January were not great for the bond m...
