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Mortgage rates moved lower by an almost imperceptible amount today. The improvement was enough to bring the average lender to the lowest levels since the end of August, 2018. In other words, these are the best rates in 4 months. 2 months ago, all hope seemed lost. Rates were the highest in years and there were few reasons to expect the pain to subside, short of a massive meltdown in stocks or a big picture shift in the economy. As you're likely aware, stocks indeed tanked heading into the 4th quarter. And as I've mentioned many times since, that stock weakness was largely responsible for rates' ability to reclaim lost ground. This raises serious questions for the beginning of 2019 because the economic data and other indicators aren't necessarily looking like they justify all the pain we've
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Mortgage Rate Watch
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Mortgage rates moved lower by an almost imperceptible amount today. The improvement was enough to bring the average lender to the lowest levels since the end of August, 2018. In other words, these are the best rates in 4 months. 2 months ago, all hop... (read more) |
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Housing News
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Analysts had expected to hear that pending home sales had a good run in November, perhaps even breaking its 10-month streak of year-over-year declines; Econoday went so far as to predict "A big bounce back is the forecast for November pending home sa... (read more) |
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Rob Chrisman
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“Rob, should we be staffing up for another refi boom?” It seems like most lenders are pausing during the holidays to take stock of current staffing levels before adjusting them one way or another. Or running “what if” scenario... (read more) |
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MBS Commentary
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As we discuss off and on over the years, the relationship between stocks and bonds is always complicated. At times, it seems as if bond yields and stocks prices are following each other in lock-step. That's been true of most of the big mo... (read more) |
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MBS Commentary
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Is this the "big one" or isn't it?! That's what everyone with a vested interested in the stock market would like to know about the ongoing sell-off that's been in play during the fourth quarter of 2018. The record highs at the end of Se... (read more) |
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MBS Commentary
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Bonds have had their good eye on stocks for months now. Almost any instance of exceptional bond market strength has come courtesy of exceptional weakness in the stock market. Today was--well... and exception .
Stocks and bonds both... (read more) |
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