Both the FHFA and the S&P CoreLogic Case-Shiller indices published updated home-price data this week. The takeaway remains the same: prices are rising...
The latest New Home Sales report showed little change in July, with sales holding very close to June’s pace. The seasonally-adjusted annual sales rate...
Mortgage application activity was little changed last week, with only a fractional decline in overall volume. The Mortgage Bankers Association’s weekl...
It continues to be the case that day-to-day changes in average mortgage rates are very small. Today was no exception in that regard. Nonetheless, toda...
Not that this week's economic calendar is especially robust, but Wednesday's offerings are especially light. There are no monthly economic reports on ...
I was today years old when I realized that the shovel was literally a groundbreaking invention. The best ads and marketing focus on rates and products...
Mortgage rates tend to move at least a little every day although they haven't been moving too much in the bigger picture recently. The only truly memo...
Focusing only production MBS coupons and longer-term Treasuries, the bond market is off to another slow, sideways start today with minimal change vers...
There are some “big-hitters” in the mortgage, finance, and housing world who will tell you that the Trump Administration’s plan to sell shares in Fann...
After last week's Jackson Hole speech from Fed Chair Powell, rates fell to their lowest levels since October 3rd, 2024, narrowly surpassing the recent...
Last week may have ended on a high note with bonds rallying on Powell's Jackson Hole speech, but perception was better than reality at the time. The r...
Heading into the week, Fed Chair Powell's speech at the Fed's annual Jackson Hole Symposium was only event on the calendar that held much promise for ...
Today's Jackson Hole speech gave Fed Chair Powell an opportunity to adjust his stance in light of much weaker jobs report that came out 2 days after t...
A few years back someone told me, “Two lenders merging in this environment is like two drunks outside a bar holding each other up.” That isn’t quite t...
In a world (like this one) where mortgage rates are dictated by bond market movement and where bonds take cues from certain economic reports, weeks li...
Today is the only day of the week with any economic reports that are relevant to bond market movement. The results are in, and bonds aren't thrilled. ...
After sliding back in June, existing-home sales picked up in July. The latest update, released August 21, shows a modest rebound. Sales rose 2.0% to ...
For the 11th straight business day, mortgage rates are very close to the levels from the end of the previous day. Over the past week, however, most o...
Mortgage application activity eased last week, but not in a statistically significant way. One might be inclined to note a very slight uptick in mort...
By now, we've already said quite a bit about this week's scarcity of scheduled events with the power to motivate meaningful changes in the bond market...
“I asked a German girl if Germans are afraid of numbers. She said 9!” Numbers make up the bond market, and a steeper yield curve (the difference betwe...
Mortgage rates are based on bonds and bonds, and bonds have some seasonality to them. This doesn't necessarily mean there's a reliable seasonal patte...
Builder sentiment remains deeply subdued, as the National Association of Home Builders (NAHB) and Wells Fargo’s Housing Market Index (HMI) dipped one ...
The latest Residential Construction report from the Census Bureau showed a sharp rebound in July, with overall housing starts climbing 5.2% to a 1.428...
If yesterday was marked by incidental weakness, today is shaping up to be the opposite. In fact, yields and MBS prices are right in line with Friday'...
14 fonts Apologies first! Yesterday I mistakenly wrote, “ARMs now account for nearly 50 percent of applications…” Thank you again to those who wrote,...
Mortgage rates are as high as they've been on almost any other day this month. You'd have to go back to August 1st to see anything higher. On the ot...
Summertime trading conditions tend to amplify trading motivations that might otherwise get lost in the shuffle. This morning, it's been the opening be...
As I type this, I’m at the doctor’s office, and some guy a few seats over is booing all the names being called that aren’t his. Do you boo the product...
Friday proved to be the weakest day of the week for the underlying bond market and, thus, the highest day of the week for mortgage rates. Retail sales...
“The difference between me and Superman is that he has super vision. I require supervision.” We’re halfway through the third quarter: Will your compan...
Friday morning's highlight is the Retail Sales report which came in at a respectable 0.5 vs 0.5 headline. Core retail sales (excluding autos/gas/build...
Mortgage rates hit fresh long term lows yesterday with the average top tier 30yr fixed rate at the best levels since October 3rd, 2024. There wasn't ...
There's no question that today's Producer Price Index came in surprisingly hot. Both the headline and core numbers were 0.9% vs forecasts of 0.2%. Th...
“I somehow managed to make it through high school math while only being able to remember even numbers. What are the odds?!” As the California MBA’s We...
October 3rd, 2024 continues to be the day to beat when it comes to mortgage rates hanging out at 10 month lows. Today's top tier 30yr fixed rate match...
I received this note from Dallas. “I like ‘dillos, but I don’t support giving them guns because... I would never armadillo.” Speaking of which, Texas ...
Bonds rallied overnight, largely in concert with lower EU yields. Stable inflation in Germany and lower oil prices helped. But there was also a tailwi...
Mortgage application activity surged last week as sharply lower mortgage rates boosted refinance demand and gave purchase applications a modest lift. ...
Steady Gains After Slightly Weaker Start
Bonds began the day in slightly weaker territory, but not for any particular reason (and certainly for no interesting reasons). For those who care about such things, t...