Because we created the industry's first daily mortgage rate index based on actual lender rate sheets without any subjective distortions, and because t...
At the risk of tempting fate by discussing a leveling-off of the post-Fed correction again, the overnight session saw the most compelling case yet for...
We’re all following Hurricane Helene and its impact on lives and housing stock in the news. Will Rogers famously said, “All I know is what I read in t...
Mortgage rates hit their lowest levels in more than a year and a half last Tuesday as the bond market put the finishing touches on its preparation for...
The bond market is in a bit of a lull with any excess buying demand flowing to the shorter end of the yield curve. Meanwhile, the long end has been d...
“My people skills are fine. It's my tolerance for idiots that needs work.” Fortunately, in our business we have very, very few of those, and certainly...
The Federal Reserve is far from the only game in town when it comes to exerting influence on interest rates. That's a loaded statement, of course, co...
Today I leave Illinois, with the world’s largest corn maze, and head to Nebraska, with the world’s largest ball of stamps, things that make life inter...
Monday's trading session offered some hope that the post-Fed correction was losing steam, but purely from a technical standpoint. All we really know ...
Mortgage rates rose modestly last week after hitting long term lows before the Fed announced its 0.50% rate cut. In not so many words, mortgage rates...
We closed last week with the idea of "buy the rumor, sell the news" seemingly being a good way to think about the time leading into and away from the ...
Summer has officially come and gone; the autumn equinox was yesterday. Columbus Day, Halloween, Veteran’s Day, and Thanksgiving are in the coming mont...
Credit where credit is due: the rate market did an outstanding job of getting out in front of the Fed rate cut as well as the changes to the Fed's rat...
“Someone asked me if I had plans for the fall. It took me a moment to realize they meant ‘autumn’ and not the fall of civilization.” The Autumn solsti...
Wednesday's Fed rate cut was the worst kept secret in the financial world for months, and the 50bp rate cut was increasingly suspected in the week lea...
The post-Fed overnight session was surprisingly calm. In fact, relative to the magnitude of yesterday's events and information, this is surely one of...
Today's release of Freddie Mac's Primary Mortgage Market Survey took at bad problem and made it worse. Freddie's survey methodology means that today'...
“A Native American, pirate, and Frenchman walk into a bar. The bartender says, ‘Gentlemen, hau, arrrrrrr, oui, today?’” No one has to sound out “s-u-m...
We publish daily coverage of mortgage rate movement and have done so for nearly 20 years now. It's a great place to quickly check in on rate trends a...
“Q: What does a dyslexic pirate say? A: RRRRRRA!” Humor aside, many in our industry have faced adversity, dyslexia and more, and I received this note:...
There is special providence in a 50bp Fed rate cut. If it be now, 'tis not to come (until the next Fed meeting perhaps). If it be not to come, it wi...
Mortgage rates have fallen nearly 2% from last year's peak. Much of that decrease can be viewed as the normal phenomenon of longer term rates getting...
This morning's Retail Sales headline was stronger than expected, but the sub-components (analogous to something like core CPI as opposed to headline C...
Does it give you a sense of permanency if you think about how you’re looking at the same moon as pirates did 300-400 years ago? There’s a lunar eclips...
The new week began on a relatively quiet note in terms of mortgage rate movement and the underlying bond market. There was modest volatility earlier...
So far in the new week, bonds have rallied a bit in the overnight session and sold off a bit after this morning's stronger NY Fed Manufacturing data. ...
The Pirate goes to the dermatologist and says, “Arrg, I got moles.” The dermatologist says, “Don’t worry, they’re benign.” The Pirate replies, “Arrg, ...
We've talked a lot about why the Fed rate cut will have no additional positive impact on mortgage rates next week. Everything the market can already ...
“I pay you to handle my loan and give me a good program with a competitive rate, not predict things you can’t.” At a recent event, a top originator to...
Today's only potentially relevant economic data was the 10am Consumer Sentiment data. This report comes out twice a month, once in "preliminary" form...
While it's true that there have only been 8 business days so far this month, it's also true that today is the only one of the 8 where mortgage rates h...
“Honey, what did you do today?” “Well…” People do some cockamamie stuff against all odds. What are the odds of a lender or LO retaining their client a...
Thursday brings this week's last opportunity for the market to react to moderately important economic data before next week's Fed announcement. So fa...
Mortgage rates moved lower again today despite a key inflation report coming in higher than expected. This is counterintuitive for anyone who's been ...
Heading into today's CPI data, there were valid doubts about the data's role as one of the two biggest market movers (the jobs report being the other)...
When I board an airplane, it is to go from point A to point B, like today from Denver to San Francisco. As long as it’s on time and somewhat economica...
Mortgage rates are based on trading in the bond market and bonds consistently take cues from economic data. Among the data, some reports are vastly m...
More Resilient Today, But It's Still All About Data
The bond market is still searching for its identity in the wake of last week's Fed announcement. Monday and Tuesday saw relatively big volatility in t...