Mortgage rates began the new week at almost exactly the same levels seen at the end of last week. There were no major events or economic reports to c...
When I was a kid, whenever I would walk by a pay phone or newspaper vending machine, I’d check the coin change slot. Or periodically check under my Da...
It's no secret that a vast majority of bond market movement these days occurs in response to a small handful of economic reports and the Fed's quarter...
The Fed expected to be able to cut rates 3 times in 2024 as recently as March. Financial markets agreed. But the data that's come out since then has e...
It is “Take Your Child to Work Day” next Thursday which, if you work from home, is probably like a day off from school for the tyke. (I won’t be bring...
The overnight session began with a very clear flight to safety in stocks (sell) and bonds (buy) on headlines regarding increased hostilities between I...
Tuesday marked the highest mortgage rates since November, capping a mini surge that began after last week's inflation data. After a moderate improveme...
After the best day in a month and a half on Wednesday, the bond market is back to its recent habit of selling off and moving toward higher yields. It...
What loan officer hasn’t had a memorable co-signing experience? Some more so than others. Along those lines, if you head to Disneyland or Disneyworld,...
Mortgage rates moved lower today after hitting the highest levels since mid November yesterday. Some lenders were down as much as an eighth of a perc...
The bond market is getting off to a stronger start today despite an absence of any new motivations in the news or economic calendar. In fact, the cal...
“We base our business model on lots of things, but not on our ability to predict rates.” Remember when there used to be “a flight to quality” when the...
Mortgage interest rates rose for the second straight week, and so did the volume of mortgage applications. The Mortgage Bankers Association (MBA) said...
The bad times keep rolling for mortgage rates with the average conventional 30yr fixed rate back up to 7.5% according to our daily index. This is qui...
While builder confidence in the market for new residential construction improved in March, it remained flat in April and residential construction numb...
Yesterday's commentary pulled an occasionally used phrase off the shelf by referring to recent weakness as a "repricing" in the broader bond market. ...
“Congratulations to the Kardashians on their 20th season. And to me for never having watched a single minute of a single episode.” There are certainly...
In 2023, there were multiple examples of mortgage rates moving up by roughly half a percent in a relatively short amount of time (1-3 weeks). Since t...
The bond market sold off steadily and gradually overnight session despite news of escalation between Iran and Israel. Ever since the start of the war...
No one is getting any younger, not even Clint Eastwood. Time marches on, as does, apparently, the cost of mailing a letter. The post office wants to j...
Wednesday was one of the worst days in decades in terms of single-day upward movement in mortgage rates. Thursday added a bit more insult to the inju...
Bonds began the overnight session in modestly stronger territory but the gains started adding up in earnest after European markets opened for the day....
When I win the lottery, I am going to buy one of these to heat my blankets at home. Of course, that would mean that I will have to start playing the l...
Wednesday's Consumer Price Index caused a brutally fast spike in mortgage rates. It wasn't notable for taking us to exceptionally high levels (Octobe...
After a day like Wednesday (one of the top 20 weakest bond market days of the past few decades), one of the top concerns is that the following day wil...
The next time you complain about your job, just be thankful you’re not working at Cinnabon. (Excuse the language.) Did you know that tomorrow is “Take...
Mortgage rates surged at a pace seen only one other time since October 2022. The average lender moved up by 0.28%, which is functionally equivalent t...
When it comes to big ticket economic events, the average anticipatory headline tends to be a bit more dramatic than the actual outcome. It's our way ...
Remember when lenders were fretting about Amazon rolling out a major home loan program? The new acronym that the mortgage industry was about to start ...
The interest rate for conforming 30-year fixed-rate mortgages (FRM) again topped 7 percent last week, but mortgage application activity still squeezed...
Mortgage rates roughly matched their highest levels in months yesterday, but managed to turn things around today. One could argue that the broader bo...
Here in the Hill Country near Austin, Texas, there’s an active market of sellers and buyers of real estate. It is a safe bet that most use agents; aro...
The overnight session was generally a mirror image of yesterday's with 10yr yields moving several bps lower in a linear, steady trend. Unlike yesterd...
Mortgage rates moved up somewhat abruptly today as the bond market lost more ground over the weekend. Rates are driven primarily by bonds, but mortga...
Bonds began the new week with follow-through selling overseas. Losses were steady and linear in both Asia and Europe. It's tempting to chalk up some...
“A fine is a tax for doing wrong. A tax is a fine for doing well.” April 15th is in a week, the traditional date when taxes are due. Time flies. Do yo...
Data dependent... That's a phrase that is all too prevalent in financial markets and among members of the Federal Reserve. It refers to the fact that...
The jobs number came in at 303k this morning versus a median forecast of 200k. Previous month revisions added a minimal 22k to the 3 month total and ...
Boring Monday Keeps The Focus on Next Week
Monday may as well have been a 3rd weekend day as far as the bond market is concerned. While equities are preoccupied with earnings, bonds were trading at abou...