Mon, Jan 31 2022, 3:44 PM
Mortgage rates moved higher at their fastest pace in several years at the beginning of January . Even though the volatility died down after the firs...
Mon, Jan 31 2022, 3:09 PM
ATTOM’s 2021 year-end report on the housing market found it was far from a typical year. The company noted a number of recent or all-time highs and lo...
Mon, Jan 31 2022, 11:32 AM
While the Northern East Coast digs out from snow, and Southern East Coast is on the lookout for falling iguanas in Florida, how’s this for a clever “o...
Mon, Jan 31 2022, 11:28 AM
The Gross Domestic Product (GDP) grew 6.9 percent in the fourth quarter of 2021, bringing the year’s growth to an expected 5.5 percent, the fastest s...
Mon, Jan 31 2022, 10:05 AM
Over the years the average jobs report week (typically the one with the first Friday of any given month) has a better chance than any other week to se...
Fri, Jan 28 2022, 4:52 PM
January has been a month marked by the market's adjustment to a shift in the Fed policy outlook. This began right at the outset and resulted in highe...
Fri, Jan 28 2022, 4:50 PM
How Meaningful is Post-Fed Rate Resilience?
2 days, 2 rallies following Wednesday's Fed-induced selling spre...
Fri, Jan 28 2022, 12:50 PM
Bonds lost ground steadily in the overnight session, but are turning green in early trading on Friday. Once again, the 9:30am NYSE opening bell emerg...
Fri, Jan 28 2022, 10:53 AM
Think you won’t be impacted by anti-U.S. sentiment in Russia? Think again. The Cybersecurity and Infrastructure Security Agency (CISA) issued two aler...
Thu, Jan 27 2022, 4:10 PM
What do we Make of Today's Bond Bounce?
After a big sell-off in response to yesterday's Fed announcement, bo...
Thu, Jan 27 2022, 11:14 AM
Overheard in the hallway: “My email got hacked again. That’s now the third time I’ve had to rename the cat.” But there’s a lot of other conversation a...
Thu, Jan 27 2022, 11:13 AM
CoreLogic reports it saw the incidence of mortgage fraud soar 37 percent last year. The fraud risk had declined through most of 2019 and 2020 but is ...
Thu, Jan 27 2022, 11:05 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 13.1 percent in December compared to a 12.0 pe...
Thu, Jan 27 2022, 11:01 AM
Stocks and bonds both sold off in response to yesterday's Fed events. Stocks weakened a bit more in the overnight session, but have been bouncing bac...
Thu, Jan 27 2022, 10:33 AM
Pending home sales fell for the second month in December and are finishing up the year well below their December 2020 level. The National Associatio...
Wed, Jan 26 2022, 6:04 PM
Fed policy is critically important to interest rates and January has marked a shift in the Fed policy outlook. In not so many words, the Fed sees its...
Wed, Jan 26 2022, 4:51 PM
Fed Stays Course on Policy Tightening; Calls Out MBS
As expected, the Fed announcement did nothing to alter ...
Wed, Jan 26 2022, 2:01 PM
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum ...
Wed, Jan 26 2022, 11:32 AM
New home sales finished the year less spectacularly than they started it, but the 11.9 percent month-over-month increase was the best since last Mar...
Wed, Jan 26 2022, 10:00 AM
One conversation topic not in the hallways here at the MBA’s Independent Mortgage Banker Conference in Tennessee is the death of the original voice of...
Wed, Jan 26 2022, 9:46 AM
Recent major Fed communications have had a tendency to stoke the fires of momentum in the bond market. This began in earnest in September. Not every...
Wed, Jan 26 2022, 8:33 AM
Even for a week containing a holiday, last week was a bad one. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of ...
Tue, Jan 25 2022, 3:45 PM
It's a tale as old as time for those who closely follow the day to day gyrations in the mortgage market. Bond volatility forces lenders to raise ra...
Tue, Jan 25 2022, 3:30 PM
Intraday Volatility But Mostly For Treasuries; Fed On Deck
Bonds began the day trading right in line with ye...
Tue, Jan 25 2022, 11:31 AM
Numbers are interesting things. “1” is the number of dogs, that I know of, rescued by a drone dragging a sausage and leading the dog to safety out of ...
Tue, Jan 25 2022, 11:02 AM
Annual increases in each of the three S&P CoreLogic Case-Shiller indices slowed fractionally from October to November. However, the rate of appreciati...
Tue, Jan 25 2022, 10:32 AM
Monday had the potential to challenge the notion of the pre-Fed consolidation in the bond market. If yields had managed to break below 1.70% and hold...
Mon, Jan 24 2022, 3:51 PM
The National Association of Home Builders (NAHB) says the effects of higher home prices and tight inventories appear to be weighing on home buying de...
Mon, Jan 24 2022, 3:48 PM
MBS Flip Script After Treasury Auction; Bonds Refuse to Chase Stocks
It was a fairly sloppy day of gains for...
Mon, Jan 24 2022, 12:45 PM
Freddie Mac’s first quarterly forecast for 2022 cites the need for improvement in the nation’s employment picture. Even though the December report fro...
Mon, Jan 24 2022, 11:42 AM
Anyone who’s seen 1968’s “2001: A Space Odyssey” remembers the talking computer HAL (whose name was cleverly derived from subtracting one letter from ...
Mon, Jan 24 2022, 9:57 AM
Bonds are off to stronger start for a 4th straight trading session. As such, they're following the same pattern as the rally attempt 2 weeks ago (whi...
Fri, Jan 21 2022, 8:09 PM
The bond market returned from a 3 day weekend to find yields surging higher on Tuesday. That pushed mortgage rates to fresh 2 year highs and added em...
Fri, Jan 21 2022, 3:35 PM
Another Green Day But MBS Underperform
Bonds rallied today with 10yr yields dropping more than 6bps by the 3...
Fri, Jan 21 2022, 2:18 PM
While new home sales have been performing well over the last few months, the Mortgage Bankers Association (MBA) expects a stumble in December. Its Bui...
Fri, Jan 21 2022, 2:14 PM
In its first look at December’s loan performance data, Black Knight notes that 2021 ended with the foreclosure inventory at an all-time low and the ...
Fri, Jan 21 2022, 11:26 AM
Bonds are off to an even stronger start on Friday, largely in response to a big risk-off move that rifled through markets in the last 90 minutes of tr...
Fri, Jan 21 2022, 10:57 AM
As I head to Northern California, and mourning the loss of Meatloaf, I’m thinking, “Dang. I guess that I shouldn’t have put my entire 401(k) into Pelo...
Thu, Jan 20 2022, 4:14 PM
Still Waiting on Fed Above All Else
Bonds enjoyed another day of modest improvement on Thursday. On the plu...
Thu, Jan 20 2022, 3:31 PM
Today was one of the most uneventful days in recent memory for mortgage rates. The average lender is in very similar territory compared to yesterda...
Thu, Jan 20 2022, 2:23 PM
Fannie Mae’s Economic & Strategic Research (ESR) Group writes that it expects 2022 to be a year “of transition for both the economy and the housing ma...
Thu, Jan 20 2022, 11:36 AM
Existing home sales dropped in December, snapping a three-month streak of increases. The National Association of Realtors® (NAR) said the month’s sale...
Thu, Jan 20 2022, 11:01 AM
While there’s plenty of chatter out there about the return of Better.com’s CEO to its helm, and its interesting business model how LOs are supposedly ...
Thu, Jan 20 2022, 9:55 AM
For the second day this week, bonds are off to a stronger start. The pattern is similar to last week where yields hit new long-term highs on the first...
Wed, Jan 19 2022, 4:22 PM
Mortgage rates have been having a bad 2022 so far with the average lender up to the highest levels in roughly 2 years as of yesterday. The reason? T...
Wed, Jan 19 2022, 4:06 PM
The Mortgage Bankers Association (MBA) has initiated a new monthly Loan Monitoring Survey , to replace its Weekly Forbearance and Call Volume Survey...
Wed, Jan 19 2022, 3:58 PM
Decent Day, But There's a Catch
Bonds improved today! The rally was moderate by typical standards, but it f...
Wed, Jan 19 2022, 10:53 AM
Residential construction numbers exceeded expectations again in December. Most of the gains, however, came from the multifamily sector. The U.S. Ce...
Wed, Jan 19 2022, 10:02 AM
Remember last Thursday? Bonds had done a great job of pushing back in a friendly direction after a huge week of selling kicked off the new year. Tha...
Wed, Jan 19 2022, 9:02 AM
As I head to Orlando this morning for business meetings, much of the concern is about Treasury yields, with mortgage rates tagging along, climbing to ...
