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Mortgage rates continued moving higher today as Fridays unfortunate series of events seems to have motivated a big bounce. What events are those? Namely, we're talking about several important economic reports including the big jobs report and the most closely-watched manufacturing report from ISM. These were joined by two other supporting actors (Consumer Sentiment and Factory Orders) to round out an entire morning of data that came in much stronger than expected. But wait... why is strong economic data a bad thing?! A fair question! After all, don't we like a strong economy? If by "we," you mean the average person on the street, then yes! If, on the other hand, you mean mortgage rates (or simply those who would prefer to see mortgage rates fall), then no... a stronger economy is the enemy
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Mortgage Rate Watch
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Mortgage rates continued moving higher today as Fridays unfortunate series of events seems to have motivated a big bounce. What events are those? Namely, we're talking about several important economic reports including the big jobs report and the mos... (read more) |
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Housing News
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Although they covered the topic in last month's Mortgage Monitor , further declines in interest rates have prompted Black Knight to take another look at the impact on the refinance pool. The previous edition reported that the 30-basis point drop in t... (read more) |
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Rob Chrisman
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“All mushrooms are edible. Some are only edible once.” I am positive there are families in the U.S. that only buy or sell a house once in their life, and if that house sells above or below the asking price depends on a) how accurate the a... (read more) |
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Housing News
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It's widely known that homeownership rates are historically low and that they peaked at 69 percent in 2005. They began dropping a year or two later and had lost about 4 percentage points by 2014. They did not stabilize until 2016. The 2005-2014 drop ... (read more) |
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MBS Commentary
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Last week's key events were the Fed announcement on Wednesday and the jobs report on Friday (with other econ data playing a strong supporting role). The Fed helped bonds. They were much friendlier than expected, but critically, they justi... (read more) |
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MBS Commentary
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Chinese markets were closed overnight for New Year. This slowed trade somewhat. Coupled with a lack of significant economic data this morning, it also put more emphasis on the events from the previous trading day. In this ... (read more) |
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