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Mortgage rates fell again today after the jobs report showed slower payroll growth in July and persistently flat wage growth. On average, this is the most important piece of economic data for interest rates over the years as it speaks both to economic strength and implied inflation (because higher wages are thought to beget higher inflation). Growth and inflation are two of the most basic building blocks for interest rates. The higher they are, the higher rates would go, unless there was some special circumstance such as the Fed's bond buying regime during the initial recovery from the Great Recession. The bottom line is that today's jobs data didn't do anything to suggest growth or inflation was any higher than anyone thought heading into today. As such, bonds were able to improve a bit and
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Mortgage Rate Watch
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Mortgage rates fell again today after the jobs report showed slower payroll growth in July and persistently flat wage growth. On average, this is the most important piece of economic data for interest rates over the years as it speaks both to economi... (read more) |
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Housing News
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CoreLogic is noting a subtle change in rent growth for single-family houses. Its Single-Family Rental Index (SFRI) has logged a steady increase in those rents since 2010, peaking in February 2016 at a 4.2 percent annual gain. Since then rents have st... (read more) |
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Rob Chrisman
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I don’t think Brookstone, which declared bankruptcy yesterday, ever sold them, but is the “Tiny House” movement getting big? If you’re near Colorado Springs this weekend, there’s a festival celebrating them. One step awa... (read more) |
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Housing News
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A recent research paper from the Urban Institute (UI) looks at the benefits provided by real denial rates (RDR) over the traditional measure of credit availability, the observed mortgage denial rate (ODR). The authors, Laurie Goodman and Bing Bai fro... (read more) |
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MBS Commentary
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Today brings the sometimes super important nonfarm payrolls data. On average, no other piece of economic data has had as much of an impact on bonds over the years, but it's been hit and miss in recent years. That has a lot do with the fac... (read more) |
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MBS Commentary
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Right at 9:30am this morning, both stocks and bond yields began moving higher . A modest overnight rally in Treasuries quickly came under fire and for a moment, we were effectively 'unchanged' on the day. But bonds found their footing fr... (read more) |
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