Wed, Nov 17 2021, 10:26 AM
After its 5.8 percent jump the previous week, the Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of mortgage application vol...
Wed, Nov 17 2021, 9:40 AM
Last Wednesday brought the sharpest sell-off to the bond market in over a month. Bonds continued to weaken on the next two relevant trading days (Mon...
Tue, Nov 16 2021, 4:15 PM
MBS Outperform on Curve Steepening and Corporate Issuance
The yield curve has been almost exclusively in "fl...
Tue, Nov 16 2021, 3:34 PM
Mortgage rates continued higher again today, despite a fairly flat performance in the bond market. Specifically, the mortgage-backed securities (MBS) ...
Tue, Nov 16 2021, 11:52 AM
Broker and Lender Services and Products 163,000 pints of Guinness are wasted in facial hair each year , according to the Irish brewery, which commissi...
Tue, Nov 16 2021, 11:26 AM
The Mortgage Bankers Association (MBA) is expecting that a higher volume of new home sales occurred in October than in the previous month, even as pur...
Tue, Nov 16 2021, 11:20 AM
The National Association of Home Builders (NAHB) said builder confidence in the new home sales market increased in November for the third consecutive ...
Tue, Nov 16 2021, 9:52 AM
This morning's Retail Sales report--arguably the week's headliner--came in stronger than expected, and significantly stronger than the previous month....
Mon, Nov 15 2021, 3:44 PM
After hitting the lowest levels in over a month last Tuesday, mortgage rates have been moving higher fairly quickly each day since then. Most of the d...
Mon, Nov 15 2021, 3:44 PM
Defensive Until Further Notice
Bonds sold off early and often to begin the new week. Selling pressure rampe...
Mon, Nov 15 2021, 10:57 AM
The National Association of Realtors® (NAR), holding its annual conference in San Diego, heard from chief economist Lawrence Yun about the prospects f...
Mon, Nov 15 2021, 10:54 AM
This morning I head to Kansas for the MBAKC annual membership luncheon later this week. Home price appreciation is doing just fine in Kansas City , an...
Mon, Nov 15 2021, 9:46 AM
Bonds were unchanged on Friday after selling off aggressively on Thursday. At first glance, that could be taken as confirmation of the weakness, but ...
Fri, Nov 12 2021, 4:48 PM
Lots of Apparent Drama For an "Unchanged" Day
The morning's headline proclaimed that today was essentially a...
Fri, Nov 12 2021, 4:26 PM
Several sources for mortgage rate data are doing consumers a major disservice this week. At least two of them are claiming that the average top tier 3...
Fri, Nov 12 2021, 1:21 PM
Foreclosure filings increased in the fourth month following the July 31 expiration of the pandemic related moratorium. ATTOM says those filings were u...
Fri, Nov 12 2021, 1:20 PM
The universe of mortgage regulators issued a joint statement on Wednesday, notifying servicers that they intend to again enforce "critical protections...
Fri, Nov 12 2021, 10:56 AM
The typical federal holiday plays nicely with the bond market. Most involve a full closure on a Monday or Friday and are often preceded by a "half da...
Fri, Nov 12 2021, 10:45 AM
Forget mortgages… As snow hits the Upper Midwest and rain hits the East Coast, according to the USDA, nationwide frozen turkey inventories are 24 perc...
Wed, Nov 10 2021, 3:52 PM
The national delinquency rate has seen a massive improvement over the last year. The Mortgage Bankers Association (MBA) reports that, at the end of th...
Wed, Nov 10 2021, 3:34 PM
Mortgage rates managed to drift down to their best levels in more than a month by yesterday, but the good times ended today... abruptly ! Interest rat...
Wed, Nov 10 2021, 3:32 PM
Big Nasty Sell-Off Sends a Message About The Range
Steady selling in the morning followed by heavy selling a...
Wed, Nov 10 2021, 11:13 AM
Consumer attitudes toward both buying and selling improved in October, although the number who feel it is a good time to buy a home remains at record ...
Wed, Nov 10 2021, 11:11 AM
I recently spent some of my day receiving a COVID test, and the nurse asked me, “Have you had a sudden loss of taste?” I replied, “No, I’ve always dre...
Wed, Nov 10 2021, 9:44 AM
Refinancing rebounded during the week ended November 5, driving the volume of mortgage applications to their largest week-over-week increase since lat...
Wed, Nov 10 2021, 9:42 AM
In econo-jargon, the word "real" typically refers to "inflation-adjusted." So when we say that "real 10yr yields" hit record lows this morning, it co...
Tue, Nov 9 2021, 3:56 PM
Mortgage credit availability did little to crawl back to pre-pandemic levels last month. The Mortgage Bankers Association said its Mortgage Credit Ava...
Tue, Nov 9 2021, 3:53 PM
Black Knight says rate locks declined 5.9 percent in October on top of a 10 percent decrease in September. Purchase mortgage locks and those for cash-...
Tue, Nov 9 2021, 3:42 PM
Mortgage rates moved moderately lower for the 5th straight day, bringing them to the best levels since late September or early October, depending on t...
Tue, Nov 9 2021, 3:36 PM
Weaker Treasury Auction, But Only After a Strong Morning
In and of itself, the10yr Treasury auction (arguabl...
Tue, Nov 9 2021, 8:58 AM
Today's MBS charts initially made it seem like prices had fallen versus yesterday's latest levels. In a way, they did, but the right side of the char...
Mon, Nov 8 2021, 4:27 PM
Mortgage rates are directly based on trading levels in the bond market, so it's almost a given that rates will move in the same direction as bond yiel...
Mon, Nov 8 2021, 4:27 PM
Mixed Signals As Holiday-Shortened Week Begins
Bonds lost some ground today. 10yr yields were up roughly 4b...
Mon, Nov 8 2021, 11:28 AM
One of the original and most well-known housing market IBuyers has bit the dust. Zillow announced last week that it is discontinuing its Zillow Offers...
Mon, Nov 8 2021, 11:26 AM
Starting today I’m in Oklahoma City for the OMBA Conference . The median home price here is roughly $150,000 and housing prices are up nearly 7 percen...
Mon, Nov 8 2021, 9:18 AM
As far as most news outlets are concerned, Friday's passage of the infrastructure bill is the big news for Monday morning. At one time, the bond mark...
Fri, Nov 5 2021, 6:53 PM
This week, the Fed announced a reduction in its bond buying. In separate news, the big jobs report was much stronger than expected. Both of these even...
Fri, Nov 5 2021, 3:24 PM
Why In The World Did Bonds Rally So Much Today?
Bonds embarked on a surprisingly swift move in a surprising ...
Fri, Nov 5 2021, 11:11 AM
Following a quiet week in which only 19,000 homeowners exited forbearance, Black Knight reports that the week ended November 2nd saw 85,000 departures...
Fri, Nov 5 2021, 11:02 AM
Nothing brings women together quite like an unclear dress code. Dress codes have been all over the map during the pandemic, and as companies adjust to...
Fri, Nov 5 2021, 10:05 AM
Friday begins with a stronger-than-expected jobs report, including big positive revisions to the past few months and another drop in the unemployment ...
Thu, Nov 4 2021, 4:31 PM
The block purchases of single-family houses by institutional investors, which began during the housing and foreclosure crisis, was first credited with...
Thu, Nov 4 2021, 4:27 PM
Freddie Mac is joining Fannie Mae in including timely rent payments into the assessment of homebuyer credit. Fannie Mae's president, Hugh Frater annou...
Thu, Nov 4 2021, 4:17 PM
Mortgage rates fell today as markets decompressed following yesterday's announcement from the Federal Reserve regarding the reduction of its bond buyi...
Thu, Nov 4 2021, 4:13 PM
Why Bonds Really Rallied on Thursday
Thursday's big bond rally was not a foregone conclusion destined to fol...
Thu, Nov 4 2021, 10:58 AM
Excuse me while I rant a bit. Let’s throw some money questions your way on a Thursday. Do you have any Rice Krispies at your store? If you do, buy the...
Thu, Nov 4 2021, 9:54 AM
Today's early trading range for the bond market was anyone's guess yesterday afternoon. Sometimes overseas markets have a different reaction to US mon...
Wed, Nov 3 2021, 4:27 PM
Bonds Take Tapering Mostly In Stride
Today was the day that the Fed announced a reduction in the pace of its...
Wed, Nov 3 2021, 4:07 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, Nov 3 2021, 4:07 PM
Mortgage rates moved higher today after the Federal Reserve announced a reduction in its rate-friendly bond buying program. Actually, to be fair, rate...
