Tue, Jan 24 2017, 11:15 AM
Existing home sales finished out 2016 with a generally expected decline. Still, the National Association of Realtors® (NAR) said today that 2016 overa...
Tue, Jan 24 2017, 9:43 AM
Depository banks know that, per the AARP, more than 67% of US assets are controlled by individuals age 50+, with this group representing more than 67%...
Tue, Jan 24 2017, 9:10 AM
Today's only significant economic data hits at 10am ET with Existing Home Sales (5.52 mln forecast vs 5.61 mln previously). Given the bigger decline ...
Tue, Jan 24 2017, 5:17 PM
Bond markets began the day in weaker territory following overnight weakness in European bond markets. In addition, bond buyers generally got their ...
Tue, Jan 24 2017, 3:56 PM
Mortgage rates have been volatile recently, with 3 out of the past 5 business days seeing much-bigger-than-average moves. After improving nicely yeste...
Mon, Jan 23 2017, 11:18 AM
The only loan performance metric reported by Black Knight Financial Service's December and thus year-end "first look" that rose in 2016 was the prepay...
Mon, Jan 23 2017, 9:31 AM
Our thoughts and prayers go out to the families of those that lost their lives in storms in the South and East. On the other coast, Los Angeles has re...
Mon, Jan 23 2017, 8:52 AM
Beginning on the business week before an FOMC Announcement, Fed speakers are "highly discouraged" (forbidden, basically) from making public speeches o...
Mon, Jan 23 2017, 6:55 PM
Mt. St. Helens was the most destructive volcano in US history. Mt. St. Yellen has almost nothing to do with it apart from the fact that the bond m...
Mon, Jan 23 2017, 5:21 PM
Mortgage rates fell somewhat significantly today, fully offsetting last week's rise. Specifically, today's average rates are back in line with those s...
Fri, Jan 20 2017, 10:31 AM
How many people find fault seemingly every day with the FHA, Fannie Mae, and Freddie Mac programs or structure? Plenty – see below – they can’t seem t...
Fri, Jan 20 2017, 9:24 AM
10yr yields hit 2.5112 overnight. That's close enough to the important 2.52% pivot point to suggest an expansion of what we consider the current rang...
Fri, Jan 20 2017, 5:28 PM
To be fair to today's presidential inauguration, it was never destined to be an exceptionally big market mover. Traders nonetheless had to prepare to...
Fri, Jan 20 2017, 4:40 PM
Mortgage rates rose slightly today, on average, but performances varied by lender and depending on the time of day. Rates were higher across the board...
Fri, Jan 20 2017, 3:02 PM
As was being widely rumored yesterday, the newly installed Trump Administration has indefinitely suspended a scheduled reduction in the annual premium...
Fri, Jan 20 2017, 2:59 PM
How will the economic philosophy that was altered by the last election actually evolve into policy? The is the question raised by Fannie Mae's Economi...
Fri, Jan 20 2017, 2:53 PM
Ellie Mae said its Origination Insight Report for December reflects the first effects of rising interest rates . Loans for refinancing slipped from 47...
Fri, Jan 20 2017, 2:50 PM
While it trails well behind credit history and debt-to-income levels, collateral problems are consistently the third most frequent cause of loan denia...
Thu, Jan 19 2017, 12:19 PM
Secretary of Housing and Urban Development (HUD) nominee Ben Carson said at his confirmation hearing, "Certainly, if confirmed, I am going to work wit...
Thu, Jan 19 2017, 10:04 AM
Housing starts continued their see-saw pattern in December, rising 11.3 percent from November when they had fallen significantly after a sensational O...
Thu, Jan 19 2017, 9:25 AM
How has housing changed in the last 100 years? It’s easy to see when a “vertical flight” is put together, and Trulia posted current listings that were...
Thu, Jan 19 2017, 8:34 AM
When it comes to defining the recent range, there are several candidates for the upper and lower boundaries. When 10yr yields were under 2.40%, that ...
Thu, Jan 19 2017, 5:22 PM
Pain continued for bond markets today as 10yr yields broke above the upper range boundaries that had been intact since the beginning of the year. Ad...
Thu, Jan 19 2017, 3:57 PM
Freddie Mac's weekly mortgage rate survey came out this morning showing the lowest rates in 3 weeks (don't get excited). This happens due to the surve...
Wed, Jan 18 2017, 10:39 AM
The Housing Market Index (HMI) backed down a bit from its post-election surge in January, dropping 2 points to a composite reading of 67. The National...
Wed, Jan 18 2017, 9:07 AM
The mortgage world is full of acronyms. Some refer to Finance of America as “FOAM,” for example. There are new ones every year, making it hard for old...
Wed, Jan 18 2017, 8:29 AM
Although yields were able to close at the lowest levels in more than a month yesterday, bonds continued to trade in the same intraday range (roughly...
Wed, Jan 18 2017, 8:19 AM
Mortgage applications rose on a seasonally adjusted annual basis during the week ended January 13. The Mortgage Bankers Association said its Market Co...
Wed, Jan 18 2017, 5:20 PM
After flirting with a break of the lower end of 2017's sideways range yesterday, bond traders clearly decided " now's not the time. " There's preciou...
Wed, Jan 18 2017, 4:42 PM
Mortgage rates moved sharply higher today , more than erasing yesterday's improvement. In fact, in one fell swoop, rates essentially moved from the bo...
Tue, Jan 17 2017, 12:51 PM
Debt finances additional consumption. That could be the summary of a speech given on Tuesday to the National Retail Federation's annual convention by ...
Tue, Jan 17 2017, 9:17 AM
Well, we have 24 business days until our next Federal holiday (President’s Day on February 20). Sigh. Much worse is this very, very sad, troubling sta...
Tue, Jan 17 2017, 8:46 AM
January continues playing host to the same level of stock/bond correlation that we typically see at the end and beginning of any given year. Beyond c...
Tue, Jan 17 2017, 5:48 PM
In some regards, bonds had their best day of the year today. The outright gains weren't quite as big as Jan 5th or 9th, but closing yields were the...
Tue, Jan 17 2017, 4:53 PM
Mortgage rates moved lower today , generally recovering the losses seen last Friday. This brings many lenders back in line with the lowest levels sinc...
Fri, Jan 13 2017, 11:33 AM
The surprise reduction in FHA annual premiums announced last week by the current Secretary of Housing and Urban Development (HUD) may not survive long...
Fri, Jan 13 2017, 9:05 AM
The average person in the residential lending sector would be hard pressed to say what Julian Castro, the current Secretary of HUD, does , or what rol...
Fri, Jan 13 2017, 8:26 AM
Bond markets are beginning the day slightly stronger ahead of the week's only significant economic data. The 8:30am time slot brings Retail Sales (...
Fri, Jan 13 2017, 4:54 PM
Granted, we might wake up next Tuesday (markets are closed Monday) to find that bonds are quickly breaking out of the recent range. But as for this...
Fri, Jan 13 2017, 3:44 PM
Mortgage rates moved higher today , even after many lenders offered mid-day improvements in the afternoon. Bond markets (which underlie rate movement)...
Thu, Jan 12 2017, 9:40 AM
It ain't over 'til it's over, and that seems to be increasingly true of contacted home sales. Trulia reported on Wednesday that, "Deals to sell homes ...
Thu, Jan 12 2017, 9:32 AM
New home sales are projected to fall in December relative to November, not an unexpected pattern as the year-end holidays approach. The Mortgage Banke...
Thu, Jan 12 2017, 9:29 AM
Ever wondered how much Ben Carson is worth, where he puts his money, and how much money he earns? Here you go . His hearing is today for the HUD spot....
Thu, Jan 12 2017, 8:28 AM
As the new year continues, a common new year's theme is in full effect: the stock/bond correlation. Stocks and bonds frequently move together over ...
Thu, Jan 12 2017, 6:27 PM
In glancing at various trader/analyst/strategist emails, I see perhaps a greater diversity of opinions about today than of any other recent trading da...
Thu, Jan 12 2017, 5:33 PM
Mortgage rates were mixed today , depending on the lender. Discrepancies between lenders have been higher than normal over the last 24 hours for sever...
Wed, Jan 11 2017, 9:24 AM
While rumors swirl about the topic for the phone call with Stearns Lending’s correspondent-wide staff today (let’s hope its good news), Richard Cordra...
Wed, Jan 11 2017, 8:45 AM
To a significantly greater degree than yesterday's 3yr Treasury auction, today's 10yr auction will have the power to confirm a trend we were beginni...
Wed, Jan 11 2017, 8:22 AM
Mortgage applications continue to decompress from the two-week holiday moratorium as well as from the usual holiday business interruptions, so it is h...
Wed, Jan 11 2017, 5:09 PM
Today was one of the more complex trading days we've had recently. Three things were certainly in play and 2 of them were interdependent.
1. Stock...
