The tedium that is the 2nd half of November continues to underwhelm. Specifically, we're in a lull between CPI 2 weeks ago and Nonfarm Payrolls next w...
The trend in rates has been very linear in the 2nd half of the month and the day-to-day changes have been getting smaller and smaller. On 5 of the las...
While we await the release of the changes in the official conforming loan limits later today (many lenders and MI companies went to $750k in October, ...
Thanksgiving week is always an interesting (and frequently frustrating) time for the bond market that underlies day to day interest rate changes. Mar...
The Census Bureau released the monthly New Home Sales report today, showing a decrease from 719k in September (revised down from 759k initially report...
The mortgage industry does not move in unison, unlike some groups. (You’ll need sound.) But consistency is important. For example, Starbucks fans can ...
The end of November has been true to form with several examples of directional movement despite an absence of motivation. Last Friday was perhaps the...
"Lower volatility and more sideways momentum" have been the themes as we've moved away from last week's more consequential economic data. The underly...
Up until yesterday, we would have placed the lower boundary of the prevailing range somewhere between the 4.40% lows from last Friday and the 4.43% pi...
Thinking of purchasing a house for a disabled adult child or parent? Are you unable to qualify for a mortgage due to a disability? While this progra...
“I threw my phone from the roof, and it broke. I guess airplane mode wasn’t working.” Plenty of folks will be traveling soon. Here’s some trivia for t...
An improved (albeit slightly) mortgage interest rate environment helped push the volume of mortgage applications higher during the week ending Novembe...
The bond market that underlies mortgage rates has had several decent days in a row with trading levels in excellent territory relative to the past two...
There's a reason we haven't been mentioning this week's release of the Fed Minutes as we lament the absence of significant scheduled market movers. S...
Existing home sales achieved their lowest annual level in ten years in September, and now appear to have doubled down. The National Association of Rea...
“This commentary is only available while supplies last!” In the fall of 1621, the Pilgrims, working hard in Plymouth Colony after coming to North Amer...
Mortgage rates moved down to the lowest levels in roughly 2 months last week. To be fair, they had already hit similar levels earlier in the month af...
After last week's big CPI-driven rally, yields settled into an increasingly calm, sideways trend marked by resistance at the post-CPI lows. It would ...
When you own your own home, you don’t have to deal with unreasonable landlords. (Warning: uncensored.) And then there are those who own their own home...
The average mortgage lender was fairly close to their lowest levels of the past 2 months by yesterday afternoon and today saw almost no change. That'...
Both of the key metrics for residential construction, housing permits, and housing starts, beat analysts’ expectations in October. The U.S. Census Bur...
Our recent analytical thesis runs the risk of being all dressed up with nowhere to go between now and the first full week of December. As such, thing...
Talk can be humorous. "That lowdown scoundrel deserves to be kicked to death by a jackass, and I'm just the one to do it." (Attributed to a congressio...
After a fantastic day on Tuesday and frustrating little bounce after yesterday's Retail Sales data, mortgage rates have fully recovered back to the re...
The National Association of Homebuilders and Wells Fargo releases the results of a survey of NAHB members each month regarding the health of the homeb...
With yesterday's Retail Sales data in the rearview, the base case between now and the first week of December is for more moderate volatility in a rela...
“Every disaster movie starts with the government ignoring a scientist.” Vendors and lenders can’t ignore red ink. Here in Kansas City, one of the disc...
The story of the week for mortgage rates continues to be the substantial drop seen on Tuesday in response to the Consumer Price Index (CPI). But that ...
If you had to script out the most likely course of events after Tuesday's big post-CPI bond rally, the safest expectation would be for a token pull-ba...
Besides Janet Yellen’s In-N-Out foray, it is a rough environment out there: Hope you don’t want a Wells Fargo HELOC. Or just ask Citizens who is exiti...
Even though mortgage interest rates changed only slightly, the volume of mortgage applications moved higher for the second time in as many weeks. The ...
November 3rd's jobs report brought an outstanding week for Treasuries and mortgage rates to an outstanding conclusion. From there, the following week...
Ever since the jobs report on November 3rd, today's CPI report was in focus as the next major fundamental focal point for the bond market. As 10yr yi...
This morning I head to Kansas, greeted by the news that Southwest is raising drink fees for the holidays. Has the “Let’s circle back after the holiday...
Mortgage rates began the day at the highest levels in nearly 2 weeks. The underlying bond market had been losing ground steadily since last Thursday ...
Last week ended up being a sideways dud in terms of the bond market's willingness to do anything new after the previous week's big rally. That said, ...
Whether it is an obscure band or an eatery in San Diego, a well-known palindrome is “tacocat.” Huh? Yes, it’s the same spelled backward or forward. Yo...
Bonds Surprisingly Willing to Rally on Fed Comments
The only notable market mover for bonds was a rather basic and obvious comment by Fed's Waller. In not so many words, he said that there's a good argu...