Mon, Oct 28 2019, 5:32 PM
Mortgage rates increased again today as lenders continued to get caught up with 2 days of bond market weakness. When bonds are weaker, prices are movi...
Mon, Oct 28 2019, 9:52 AM
Last Friday's morning commentary wasn't necessarily fun to read for fans of low rates, but it was important to digest for those that want to be prepar...
Fri, Oct 25 2019, 4:56 PM
Let's face it. It makes sense for the average bond trader to be more indecisive than normal right now. A no-deal Brexit was avoided this week (bad f...
Fri, Oct 25 2019, 3:44 PM
Mortgage rates moved lower for 3 days in a row as of yesterday afternoon. But that trend was likely to reverse based on the timing of yesterday's mark...
Fri, Oct 25 2019, 11:17 AM
In about 2 weeks, the big bond rally of 2019 will officially be 1 year old (because it actually began in the 2nd week of November). This has been a u...
Thu, Oct 24 2019, 4:17 PM
At a few points in the past 2 days, it looked as if bonds were finally ready to move back toward lower yields after 2 weeks spent moving fairly quickl...
Thu, Oct 24 2019, 3:43 PM
Mortgage rates dropped at a modest pace for the 3rd straight day on Thursday. This brings them back in line with levels seen at the end of last week. ...
Thu, Oct 24 2019, 8:31 AM
Yesterday was fairly uneventful as global markets generally cooled off after 2 big days of Brexit-related volatility at the beginning of the week. Fo...
Wed, Oct 23 2019, 5:04 PM
Mortgage rates moved a bit lower yesterday after hitting the highest levels in more than a month the day before. They kept the positive trend going to...
Wed, Oct 23 2019, 9:38 AM
Yesterday saw bonds respond almost exclusively to Brexit-related headlines (read THIS RECAP for a synopsis of the day's events and Brexit's impact on ...
Tue, Oct 22 2019, 5:42 PM
First things first: all of the volatility we're about to discuss has been occurring inside a fairly narrow range in the slightly bigger picture. More...
Tue, Oct 22 2019, 4:38 PM
Mortgage rates recovered just a bit today after hitting the highest levels in more than a month yesterday. The inspiration for much of the recent upwa...
Tue, Oct 22 2019, 9:32 AM
Yesterday saw an extension of the recent selling trend in bonds with yields hitting the highest levels in more than a month. One might argue that yes...
Mon, Oct 21 2019, 7:28 PM
Mortgage rates may have managed to remain mostly flat last week, but they did so near their highest levels in several weeks. After moving up at a mode...
Mon, Oct 21 2019, 9:09 AM
Last week saw the US bond market fight off an intermittent barrage of weakness as global markets geared up for the weekend's big Brexit vote. By Fri...
Fri, Oct 18 2019, 6:04 PM
Today was a throw-away day for the bond market. Yields matched their narrowest trading range of the week and ended the day at their most 'unchanged' ...
Fri, Oct 18 2019, 6:03 PM
Mortgage rates were flat today. In fact, they were very close to being flat on the week for that matter! This is a reflection of the bond markets curr...
Fri, Oct 18 2019, 9:03 AM
Yesterday brought the highest yields in a month as Brexit-related optimism swelled early in the overnight session. At issue: British PM Johnson and E...
Thu, Oct 17 2019, 4:24 PM
The bond market has a lot on its mind right now. 2019 is proving to be very different from other episodes of big, protracted rate trends. In most pa...
Thu, Oct 17 2019, 3:40 PM
Mortgage rates didn't do much today, but risks are increasing that movement will be more brisk in the coming business days. Blame European politics--s...
Thu, Oct 17 2019, 9:34 AM
Yesterday saw a swath of Brexit headlines spark unavoidable bond market weakness just as a weaker reading in the important Retail Sales report suggest...
Wed, Oct 16 2019, 6:31 PM
There was a bit of a giveaway in this morning's commentary, titled "Brexit Headlines vs Retail Sales." Indeed, it's "Brexit headlines" that answer th...
Wed, Oct 16 2019, 6:01 PM
Mortgage rates improved modestly today, depending on the lender. Some lenders moved rates higher yesterday due to deterioration in the bond market. Ot...
Wed, Oct 16 2019, 8:45 AM
Yesterday saw bonds undo a decent amount of overnight progress to end at the highest yields in nearly a month. 10yr Treasuries broke above the 1.75% ...
Tue, Oct 15 2019, 4:59 PM
There were two key parts to today's market movement. The first was the general push back against Friday's bond market weakness courtesy of less upbea...
Tue, Oct 15 2019, 4:32 PM
Mortgage rates ended higher for the 4th straight business day on Tuesday, but that wasn't necessarily destined to be the case this morning. After last...
Tue, Oct 15 2019, 10:05 AM
Last week brought a bit of a bumpy ride for bond markets with trade-related news accounting for most of the drama. Things were more uneventful on the...
Fri, Oct 11 2019, 6:11 PM
With the exception of the wee hours yesterday morning, the past 2 days have been all about the trade deal. Markets knew Trump and the Chinese vice pr...
Fri, Oct 11 2019, 5:27 PM
Mortgage rates moved higher from Wednesday through the end of the week. Thursday and Friday were especially abrupt as financial markets hurried to get...
Fri, Oct 11 2019, 9:00 AM
Yesterday brought an abrupt confirmation of a bounce in bonds. For 10yr Treasury yields, the scene of the bounce was 1.51% earlier in the week. Mult...
Thu, Oct 10 2019, 6:09 PM
Mortgage rates were sharply higher today as the underlying bond market faced heavy selling pressure for a variety of reasons. When investors are more ...
Thu, Oct 10 2019, 6:09 PM
Heading into this week, we looked to today as the biggest potential source of volatility owing to the release of the Consumer Price Index (CPI) and th...
Thu, Oct 10 2019, 9:15 AM
Yesterday brought moderate weakness for the bond market. Justifying it doesn't have to be any more complicated than technical resistance combined wit...
Wed, Oct 9 2019, 5:36 PM
The same old pattern played out today where MBS weren't able to keep solid pace with Treasury movement. This is one of those "for better or worse" ki...
Wed, Oct 9 2019, 4:52 PM
Mortgage rates moved modestly higher today, but remain very close to the lowest levels in nearly a month. The underlying bond market (which dictates r...
Wed, Oct 9 2019, 9:28 AM
In the day just passed, bonds initially tried to erase the weakness seen in Monday's session. They were largely successful in the morning hours, but ...
Tue, Oct 8 2019, 5:26 PM
Bonds were stronger to start the domestic session after European bonds led a rally late in the overnight hours. Trading was flat during the domestic ...
Tue, Oct 8 2019, 4:48 PM
Mortgage rates were slightly lower today despite some volatility in the underlying bond market. Rates have generally been moving lower recently, but t...
Tue, Oct 8 2019, 8:32 AM
In the day just passed, the bond market sold off in rather underwhelming fashion. There was no overt source of pessimism and the pace of movement lac...
Mon, Oct 7 2019, 5:51 PM
Bonds sold off today, but not excessively, and almost not at all if MBS had anything to say about it. Even Treasuries were fairly close to 'unchanged...
Mon, Oct 7 2019, 5:30 PM
Mortgage rates moved lower every week for the past 3 weeks. They covered a respectable amount of ground during that time and ultimately erased most of...
Mon, Oct 7 2019, 9:24 AM
In the week just passed, the bond market rallied strongly. Weaker economic data--especially the two ISM reports--led the way, ensuring the middle 3 d...
Fri, Oct 4 2019, 4:24 PM
The bureau of labor statistics called and mailed about 60k households a little less than a month ago to ask them about their jobs. Only 3.5% of the w...
Fri, Oct 4 2019, 3:26 PM
Mortgage rates fell nicely this week with modest to moderate gains throughout. As I noted yesterday, this runs counter to the week's average mortgage ...
Fri, Oct 4 2019, 8:29 AM
In the day just passed, the bond market rallied impressively following an exceptionally weak ISM services report. That was the 2nd of the two ISM pur...
Thu, Oct 3 2019, 5:25 PM
Today's ISM services data (technically "non-manufacturing") was one of the week's two biggest reports apart from tomorrow's jobs data. Like it's manu...
Thu, Oct 3 2019, 4:07 PM
Mortgage rates are much lower today compared to last Thursday, or any other day last week. Despite that fact, major news outlets--even those dedicated...
Thu, Oct 3 2019, 9:21 AM
In the day just passed, bonds extended a faster-paced rally that began on Tuesday following the ISM Manufacturing data. It wouldn't be fair to say ...
Wed, Oct 2 2019, 5:23 PM
The bond market had another solid day today, although that wasn't necessarily destined to be the case from the start. Yields were slightly higher in ...
Wed, Oct 2 2019, 4:49 PM
Mortgage rates are historically quite low and they managed to continue lower today . This is in addition to a steady string of improvements that began...
