Mon, Sep 16 2019, 5:26 PM
Today's key development was over-the-weekend news of drone strikes on Saudi oil assets. Iran is getting the blame, but Trump says he's not in a rush ...
Mon, Sep 16 2019, 4:48 PM
Mortgage rates closed out their worst week since 2016 on Friday as the bond market underwent a classic correction after its best month since 2011. The...
Mon, Sep 16 2019, 9:55 AM
In the week just passed, the bond market sold off at the fastest pace since the June 2013 taper tantrum. That's a relatively impressive feat at first...
Mon, Sep 16 2019, 9:05 AM
Music fans are saddened by the recent news of the deaths of Eddie Money and the Cars’ Rick Ocasek. In our industry, the news late last week that Black...
Fri, Sep 13 2019, 3:17 PM
Mortgage rates were already having their worst week since 2016 as of yesterday afternoon. Rather than help to heal some of the damage, today's bond ma...
Fri, Sep 13 2019, 10:08 AM
The California Building Industry Association (CBIA) is calling the Trump Administration tariffs the "perfect storm" for the state's already troubled h...
Fri, Sep 13 2019, 8:49 AM
Any month that starts on a Sunday contains a Friday the 13th. The superstitious sufferers of “triskaidekaphobia” try to avoid bad luck by keeping away...
Fri, Sep 13 2019, 8:36 AM
In the day just passed, bonds got our hopes up early with an initially positive reaction to the ECB announcement. We were even in the green for most ...
Thu, Sep 12 2019, 6:18 PM
10yr yields hit 1.80% today. Using the power of the MBS Live search feature, I compiled the following list to put 1.80% in context:
"I'd be looking...
Thu, Sep 12 2019, 5:21 PM
Mortgage rates didn't have a great day today, moving even higher from what were already the worst levels in a month as of yesterday afternoon. In and ...
Thu, Sep 12 2019, 11:35 AM
The Mortgage Bankers Association (MBA) says its Mortgage Credit Availability Index (MCAI) suffered its largest decline in eight months in August. The ...
Thu, Sep 12 2019, 9:25 AM
In the day just passed, the recent bond market selling-spree showed its first serious signs of leveling off since it began one week ago. This wasn't ...
Thu, Sep 12 2019, 9:02 AM
I apologize in advance for the length of today’s commentary, but there’s a lot going on! Ask any economist if rent control works, and they’ll say, “No...
Thu, Sep 12 2019, 8:18 AM
Mortgage application fraud declined in the second quarter of this year. CoreLogic's report on the incidence says that one out of every 123 mortgage ap...
Wed, Sep 11 2019, 5:30 PM
Bond traders took a break from their newfound hobby of the past 5 business days: relentlessly selling bonds . Maybe they want to branch out and try ...
Wed, Sep 11 2019, 5:04 PM
Mortgage rates were roughly unchanged today for the average lender as underlying bond markets finally calmed down. Over the past few days, bond yields...
Wed, Sep 11 2019, 10:35 AM
Mortgage lenders reflected a lot of optimism about their business prospects in the third quarter Mortgage Lender Sentiment Survey conducted by Fannie ...
Wed, Sep 11 2019, 9:50 AM
In the day just passed, bonds kicked into higher gear with respect to the correction that began to materialize last Thursday. If you feel like you mi...
Wed, Sep 11 2019, 8:51 AM
Is our housing system a dumpster fire ?” (I don’t think so; we have hundreds of thousands helping millions every year although F&F would be better off...
Wed, Sep 11 2019, 8:15 AM
Although the week ended September 7 was shortened by the Labor Day holiday, mortgage application volume managed an increase. It was the first week-ove...
Tue, Sep 10 2019, 6:14 PM
Bonds continued to sell-off again today--this time slightly more aggressively than yesterday. Yes, the current spike in yields/rates is frustrating, ...
Tue, Sep 10 2019, 5:38 PM
Mortgage rates and the broader bond market are both in the midst of a correction after hitting the best levels in more than 3 years last week. This is...
Tue, Sep 10 2019, 11:36 AM
While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eigh...
Tue, Sep 10 2019, 9:16 AM
In the day just passed, bonds began the week with a resolute sell-off that broke through an important overhead ceiling in 10yr yields (1.62). Weaknes...
Tue, Sep 10 2019, 8:42 AM
The gap between the haves and have-nots continues to widen. Though the wealth of U.S. households has eclipsed $100 trillion, the wealthy have primaril...
Tue, Sep 10 2019, 8:18 AM
Funny what several dozen downticks in interest rates will do consumers' perceptions of the mortgage market. Fannie Mae said today that its Home Purcha...
Mon, Sep 9 2019, 6:26 PM
Bonds were weaker overnight, weaker during the AM hours, and just for good measure, weaker again in the afternoon. When the dust cleared, 10yr yields...
Mon, Sep 9 2019, 5:25 PM
Mortgage rates moved higher today at the fastest pace in several months today. The underlying bond market (which dictates rates) was merely hinting at...
Mon, Sep 9 2019, 9:38 AM
Low interest rates continue to expand the pool of refinancible mortgages and bolster mortgage prepayment rates according to Black Knight's Mortgage Mo...
Mon, Sep 9 2019, 9:13 AM
Bonds are starting out in weaker territory this morning, mostly due to European trading hours. An improving US/China trade dialogue has been the defa...
Mon, Sep 9 2019, 8:44 AM
The United States is filled with historical and geographic trivia. Reno, Nevada, is farther west than San Diego, California. Johnson City, Tennessee i...
Fri, Sep 6 2019, 5:37 PM
To be sure, there was at least some amount of trepidation ahead of today's jobs report. The past 2 trading days made a clear case for it with stronge...
Fri, Sep 6 2019, 4:58 PM
Mortgage rates held steady today, which is a victory in light of yesterday's big jump higher. Part of that jump was due to fear that today's jobs repo...
Fri, Sep 6 2019, 11:45 AM
The title is a bit misleading. 2.5% coupons are nothing new--especially if we're talking about 15yr MBS. Even in 30yr MBS, 2.5s were being traded as...
Fri, Sep 6 2019, 11:24 AM
The Treasury Department released the Trump Administration's long-awaited plan for reforming the nation's housing finance system on Thursday. Treasury ...
Fri, Sep 6 2019, 9:08 AM
Yesterday the industry reacted to the topic of housing finance reform. HUD presented its plan for FHA . But, like Farrah Fawcett passing away on the s...
Thu, Sep 5 2019, 4:36 PM
It's only fitting to throw in a vacation-themed reference on Labor Day week. Unfortunately, only the metaphor is lighthearted. It's underlying messa...
Thu, Sep 5 2019, 3:50 PM
Mortgage rates walked back a decent chunk of their recent improvements today. This claim runs counter to almost any other coverage you'll see, but I'm...
Thu, Sep 5 2019, 11:24 AM
Fewer prospective homeowners are making the move from thinking about buying to actively shopping than a year ago, according to a new study by the Nati...
Thu, Sep 5 2019, 10:58 AM
A new study by the Mortgage Bankers Association (MBA) looks at lending and servicing of home equity lines of credit (HELOCs) and closed-end home equit...
Thu, Sep 5 2019, 10:00 AM
In the day just passed, the bond market endured a bit of selling pressure courtesy of various overseas developments and an onslaught of corporate bond...
Thu, Sep 5 2019, 9:16 AM
Construction spending inched up by 0.1 percent in July, to a seasonally adjusted annual rate of $1.289 trillion compared to $1.288 trillion in June. T...
Thu, Sep 5 2019, 9:05 AM
Do you know what is picking up steam out there? Credit unions are on a “bank buying spree.” The numbers aren’t huge, but these not-for-profit financia...
Wed, Sep 4 2019, 8:23 PM
The past several days have been very good to the mortgage market. The secondary side of the market had been waiting for spreads to be able to tighten...
Wed, Sep 4 2019, 6:09 PM
Mortgage rates are on a tear . In the bigger picture, 2019 has been the best year in more than a decade. Only 2002 was arguably on the same level in t...
Wed, Sep 4 2019, 9:15 AM
In the day just passed, bonds rallied to start the overnight session, largely following Brexit-related trading in Europe. Yields rose moderately head...
Wed, Sep 4 2019, 9:04 AM
Would you transfer a quarter million smackers if your boss told you to? Let’s just remind every lender, and every bank: you have the money and others ...
Wed, Sep 4 2019, 8:31 AM
The Urban Institute (UI) says the recent surge of investor purchases of single-family homes is raising related policy issues. In blog post examining t...
Wed, Sep 4 2019, 8:09 AM
Mortgage application volume declined for the third consecutive week during the period ended August 30. The Mortgage Bankers Association said its Marke...
Tue, Sep 3 2019, 5:31 PM
Today had potential to be one of those days where overnight give way to a frustrating sell-off that intensifies throughout the day. In fact, that wo...
