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Financial markets in the US will be closed for President's Day on Monday. Thus, mortgage lenders will not be open, nor will they be accepting locks. Given that mortgage rates took the road less traveled in 2018 and actually moved lower, it's worth having a chat with your mortgage professional if you have a loan in process. Of course, many of you may not be reading this until after the lock window has passed for today, so let's take a look at next week's risks and opportunities . The biggest risk is the same one that's been with us all year. Simply put, rates have been trending higher in a steady but highly convicted fashion, quickly adding a half a percentage point or more to the average 30yr fixed rate quote. As we've been saying all year, it doesn't make sense to bet against that trend until
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Mortgage Rate Watch
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Financial markets in the US will be closed for President's Day on Monday. Thus, mortgage lenders will not be open, nor will they be accepting locks. Given that mortgage rates took the road less traveled in 2018 and actually moved lower, it's worth ha... (read more) |
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MBS Commentary
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Tiny pockets of gains have come and gone in the vast sea of red that's dominated 2018 so far. Each pocket has attempted to lure optimists into a "bull trap." In other words, originators want to be bullish on rates, so they're more likel... (read more) |
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Housing News
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Some people are never happy . For most of the ten years following the start of the Great Recession the experts have focused (can we say harped?) on the theme of a slow recovery. Now, after a couple of upticks in the inflation rate, Fannie Mae has hea... (read more) |
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MBS Commentary
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While they're extremely important to institutional investors and analysts, the role of trading positions in the bond market is one of the most easily overlooked factors in rate movement over shorter time horizons. "Positions" is just a fancy ... (read more) |
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Housing News
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Residential construction got off to a strong start in January, with sizable increases in both permits and housing starts and only a slight downturn in completions. The gains follow a particularly disappointing performance in construction starts in De... (read more) |
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Rob Chrisman
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Mortgage rates are greatly influenced by supply and demand. And if both the U.S. government and individuals need to borrow money, the government usually wins. Total U.S. household debt hit an all-time high of $13.15 trillion at the end of 2017 . That... (read more) |
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