Mortgage rates were having a pretty decent day at first. The bond market was only slightly weaker overnight (implies some upward pressure on rates), ...
The Mortgage Bankers Association is out with the latest survey of mortgage applications and refinance activity led the charge this week. In fact, pur...
Today's headline and core CPI readings were both perfectly in line with forecasts. After the data came out, bonds rallied and Fed Funds Futures moved...
“I love Christmas lights! They remind me of the people who voted for (insert name of politician). They all hang together, half of them don’t work, and...
Between November 18th and December 6th, the average top tier 30yr fixed mortgage rate moved down from 7.08 to 6.68. A 0.40% drop is rather significan...
“To the paranoid people who check behind shower curtains for murderers: if you find one, what's your plan?” What’s the Fed’s plan? The Federal Reserve...
Yesterday's closing commentary also noted "inconsequential weakness," and there's not really a better way to refer to this morning's modest losses. O...
Mortgage rates ended last week with an impressive drop to the lowest levels in more than a month and a half. Today's rates ended up being the 2nd low...
“Wi-Fi outages are the new snow days!” Without the internet or cable, would we return to relying on newspapers, radios, and network channels for news?...
Up until last Friday, 10yr yields closed at 4.17% for 5 days in a row. While that's technically "resistance," we're not complaining considering that's...
As of last week, rates were showing some signs of resilience, but they had to wait for the true test from this week's jobs report. Spoiler alert: they...
“Today’s three-year-olds can switch on laptops and open their favorite apps. When I was three, I ate mud.” Times change. Remember when homeowner’s ins...
We all know that today's jobs report is the most important economic data on an given month. We also know that a higher payroll count tends to be bad f...
It's been a remarkably calm week for mortgage rates, and a fairly decent one relative to several recent examples. The average top tier 30yr fixed rat...
Don’t steal packages off of porches… you never know what will be inside them… A very low-tech attempt at dissuading thieves. On the flip side, what do...
Mortgage lenders generally try to avoid setting rates more than once per day, but they will make changes if the underlying bond market is moving enoug...
Bonds drifted steadily higher in yield during the overnight session with most of the weakness seen after European markets opened. The net effect was r...
My cat Myrtle never had to worry too much about things like… money. Elon Musk, however, can’t seem to catch a break and his $56 billion (yes, with a “...
The bond market is the primary driver of mortgage rate movement and normally, "weakness" equates to higher rates. Bonds are slightly weaker today com...
Tis the season to have some fun, right? How about we start with this interesting musical duo? While the CFPB’s proposal addressing the selling of data...
Of all of the motivations in all the markets, this one had to walk into ours. Or perhaps it rolled in on tank tracks. Just over an hour ago, South K...
Mortgage rates remain elevated relative to the levels seen in September and early October, but they've definitely moved down a bit from their recent h...
I recall Zillow doing a study on the color of the front door impacting sales price. What does $22.5 million get you in Charleston, SC, especially if t...
It can be a bit tricky to understand the roll of various forms of positioning when it comes to otherwise inexplicable movement in the bond market. It...
“I was late to my cannibal family's Thanksgiving dinner. I got the cold shoulder.” LOs are experts on family life and demographics. The share of bot...
The Mortgage Bankers Association (MBA) released its weekly application survey results on Wednesday. The highlight was a 12.43% increase in purchase a...
The interest rate market continues the healing process after taking heavy damage in October. During the course of that month, the average top tier co...
“Rob, my borrowers would be really happy with rates below 7 percent. When will we get there?” A wise economist with the MBA once told me, “If you’re g...
Although this morning contained the week's most active slate of economic data, it has completely failed to inspire even the most modest of responses i...
Although there was a busier calendar of economic data today, mortgage rates are little changed after dropping at the fastest pace in several weeks to ...
“If there's anyone out there who has no family and is planning to stay home alone this Thanksgiving, please let me know. I need to borrow some chairs....
Monday brought a rare event for the bond market in the recent context as yields fell throughout the day and never really thought about bouncing. It wa...
Even on a good day, the Census Bureau's New Residential Sales report has a notoriously wide margin of error. But today's 12.8% margin of error isn't ...
There are two key, big picture home price indices in the U.S. They come out every month, but with a 2 month lag. That means we're getting September'...
Last Monday, mortgage rates were near the highest levels in more than 3 months. A week later, and the average lender is right in line with the lowest...
“Pro tip” to start the week: Be sure to bring up politics at your family's Thanksgiving dinner. You'll save a lot of money on Christmas gifts. A tip t...
Of all of Trump's political appointees, Treasury Secretary is the most consequential for the bond market ("Treasury" is right in the title, after all!...
Why Bonds Sold Off After a Decent AM Rally
It was a day for "explanations" in the bond market with the morning rally needing to be explained in the context of CPI data that came in right on the screws and a s...