The average lender's top tier 30yr fixed rate fell to the lowest level since April 2023 last week. That's down more than 1.25% over the past 5 months....
Despite heavy volume and volatility, Friday's trading session managed to conclude in roughly sideways territory. The new week is starting off on a ca...
Forget ATR. What about ATN? The Ability to Nap. Here in Denver, at The Mortgage Collaborative event, napping is not on the agenda… Every lender out th...
Mortgage rates have a long and storied history of making big moves on the day that the big monthly jobs report comes out. In that regard, today was f...
“The credit card company called me to report suspicious activity... I asked what kind of suspicious activity, and they said someone made a payment.” “...
At first glance, this morning's jobs report suggested a modest but clearly-defined increase in the likelihood of a 50bp rate cut from the Fed in 2 wee...
Wouldn't it be nice if you could know what was going to happen with mortgage rates before it actually happened? Since the dawn of time in financial m...
Thursday morning had the highest concentration of economic reports so far this week with ADP, Challenger, Claims, and two flavors of Services PMI data...
“If you were born in September, it's pretty safe to assume that your parents started their new year with a bang.” Are originators getting a “bang for ...
Mortgage rates moved lower for the 2nd straight day on Wednesday with the average lender right in line with their lowest levels since August 5th. In ...
Market movement continues suggesting increased focus on labor-related economic data. This morning's JOLTS (job openings and labor turnover survey) is...
I don’t know what, exactly, separates irony, satire, or paradox. Whatever category this falls into, it’s a classic tale of biblical proportions. (Othe...
Interest rates continued their slow decline last week while application volume is inching up almost as slowly. The Mortgage Bankers Association (MBA) ...
You never know what you're going to get on the days surrounding a 3 day weekend for financial markets, and that's doubly true when it corresponds with...
It was the third of September, a day I’ll always remember… Will September 18th be remembered as the day that the Federal Reserve lowers fed funds for ...
Remember last Friday? It was sort of "weird" due to enigmatic selling pressure in the bond market. Yields stretched up to the highest levels in more ...
Day to day movement has been subdued in mortgage rates recently, and now the week over week movement is just as uneventful. Friday's average top tier...
(In honor of labor, there is no Commentary tomorrow; Tuesday will be the next one. But in honor of August 31 being National Bacon Day, we celebrate wi...
This morning's PCE inflation data was in line with expectations calling for a core monthly reading of 0.2%. In fact, the unrounded number was 0.16+ w...
It continues to be the case that mortgage rates are moving in a very narrow range with minimal changes from day to day. For instance, in the past week...
Home sale numbers continue to retreat and in July the National Association of Realtors’® (NAR) Pending Home Sales Index (PHSI) fell to its lowest lev...
“Why do psychics have to ask you for your name?” The future is always murky, at best, even to those who tell us that they can predict things. Fannie M...
There was a solid decade between 2010 and 2020 where weekly Jobless Claims data was completely inconsequential. The labor market had taken the hit fr...
On Wednesday, the average mortgage lender was quoting top tier, conventional 30yr fixed rates at the 2nd lowest level in more than a year. That's cou...
It would have been hard for the present week to be any more of a boring, sideways grind than the previous week, but so far, so boring! Why do we say ...
How dedicated are you to mortgages? This dedicated? I hope not. Owners and CEOs of smaller companies are certainly dedicated to our business, but are ...
The mortgage market seemed to be in a wait-and-see mode last week as the Federal Reserve signaled a might, maybe, we are thinking about it, approach...
It was another generally uneventful day for the bond markets and, consequently, for the mortgage rates that take cues from bond market movement. Whil...
Two major home price indices show home price appreciation is still running well above historical norms. However, increases in the S&P CoreLogic Case-S...
Why can’t lending be simple… like “The Revolutionary Haircutting System You've Come to Love!” They even have the forethought to take the summer off. V...
Bonds are under a bit of pressure this morning with a modest extension of weakness that began in European trading hours. While this morning's selling...
Mortgage rate movement is tied to activity in the bond market and like many things in the world of finance, the bond market depends on participation f...
A pair of scissors is not trivial. Did you read the story on how thirty-six flights were cancelled, and 201 delayed, at a Japanese airport after a pai...
The Durable Goods report is a somewhat inconsistent report in terms of its ability to influence the bond market. There are definitely examples of big...
Every year, the Federal Reserve (aka "the Fed") gathers in Jackson Hole, WY with a bevy of other central bankers and academics to discuss and comment ...
“There's a fine line between a numerator and a denominator. Only a fraction of people will find this funny.” Our business is a business of numbers. My...
It's been a slow, uneventful week so far in terms of scheduled events. Even though we certainly saw some elevated volume and volatility over the past...
After moving lower for 4 straight days to hit the 3rd lowest levels in more than a year, mortgage rates bounced just a bit higher today. This was the...
Holding Last Week's Gains as Bonds Wait For Actionable Info
Monday was an anticlimactic session relative to the average day offered up last week. Friday was especially important as the market's anxiety ...