Mortgage rates tend to be updated only once per day. Lenders set rates based on trading levels in mortgage-backed securities (MBS) which are essentia...
Heard in the hallways here at the MBA’s annual convention in December. “I wonder if the MBA’s volume estimate of $2.3 trillion for 2025 includes all o...
As we've noted on many occasions in the past few years, JOLTS (the Job Openings and Labor Turnover Survey) used to be a non-event in terms of economic...
It's no mystery that mortgage rates have had a terrible October. As of last Friday, the average lender's top tier 30yr fixed rates were up to 6.90--a...
Thousands of lenders and vendors braved the gate lice to fly to Denver (the term for people who crowd around the gate at an airport, sometimes in an a...
After 2 frustrating weeks spent moving toward higher yields without any major justification from the economic data, things are about to change. From ...
Mortgage rates reached their highest level of the week on Wednesday and haven't really moved since then. Technically each subsequent day saw a micros...
Granted, we were by no means looking for big things from this morning's Durable Goods data, but somehow it still managed to underwhelm. That's not sa...
“A herd of cows broke into a Colorado weed farm. Police and animal control are on the scene, and the steaks are high.” This will be the last day in th...
Mortgage rates have risen every day since October 15th and some of the jumps have been fairly big. That followed an even bigger increase earlier in t...
Thursday morning brought the week's only arguably important economic data in the form of Jobless Claims and S&P's PMIs. Both have a decent track reco...
Were solid, rounded airplane windows considered “innovation”? Indiana’s Carol K. has the answer. There’s always innovation, in this case entertaining....
Mortgage rates have been moving two directions recently and both of them are "up." Only the pace changes. Today's pace was modest to moderate, but b...
Housing was chugging right along in early 2020, then covid happened. Housing experienced lots of unexpected volatility with the most important develo...
The Mortgage Bankers Association (MBA) keeps track of applications for purchase and refi mortgages every week. Purchase apps are slower moving, less ...
“The coast is clear,” and today I head to the Palm Beach Mortgage Professionals Expo hosted by FAMP’s Broward-Gold Coast Chapter. Legal issues will be...
For those of you who already feel like you fully understand the message in Tuesday's recap, the next few days and weeks might get a little repetitive,...
Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headl...
“An eye for an eye, Tooth for a tooth. Vote for me and I'll set you free! Rap on, brother, rap on. Well, the only person talking about loving thy brot...
Monday was frustrating for the bond market. It was a medium large sell-off that would have made more sense as a flat, forgettable Monday. The only th...
By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we've gone from being fairly close to 6% in mid-Septem...
First off, there's no great explanation for the extent to which bonds are losing ground this morning. These days happen occasionally. Sometimes an e...
Sports have a lot of fans, and heroes. With only 10 days until Halloween, what a great time of year to be a sports fanatic. You never have to leave yo...
There hasn't been much day to day movement in mortgage rates after the big jump caused by the jobs report earlier in the month. That jump ended on Mo...
While this technically signals some cooling in new construction potential, it wasn't much more of a drop than investors expected. Moreover, there has...
A while back I parked my car outside a government office building in Sacramento. "Sir, you can't park here," said a cop. "This is where our politician...
While the recent trend has been unpleasant for the bond market, at least it's logical. Apart from some uncertainty related to the election and forthc...
Mortgage rates are driven by the bond market and bonds consistently take cues from economic data. Traders have been waiting on this Thursday's econom...
Ever since last Thursday's econ data failed to cause a stir in financial markets, we knew we'd be waiting until today for big, data-driven volatility ...
Today would have been the 65th birthday of comedian Norm Macdonald. And while that may make your head shake, here’s something else that definitely wil...
Mortgage rates have been holding in a fairly narrow range since the middle of last week and today was one of the least interesting additions to the tr...
The market was hungry for data before the jobs report week and has been even hungrier since then. Unfortunately, there haven't been many compelling r...
An attorney will tell you, “Never miss a good chance to shut up.” Today I head to the Portland/Vancouver area for a few days with Banner Bank. Oregon ...
The average mortgage lender is quoting rates that are just a fraction of a hair lower today compared to last Friday. Lenders were either closed or ot...
Some things aren’t what they seem to be. What about places… what if you moved and your new home wasn’t how it originally seemed to be? There is a tren...
Bonds moved into stronger territory over the 3 day weekend in a move largely attributed to de-escalation in the Middle East and the sharp drop in oil ...
While this week's rates were substantially higher than most of last week's, if we remove a few flashes of volatility, the average lender stayed very ...
When it comes to economic data with any real significance, today only offered two reports: PPI and Consumer Sentiment. Neither have an especially stu...