Wed, Mar 19 2025, 11:40 AM
Tired of writing those pesky checks? Wait no longer: If you don’t want to send a check through the U.S. Mail, for whatever reason, there’s Deluxe Paym...
Tue, Mar 18 2025, 3:37 PM
Low Volatility Session Ahead of Fed Day
4 out of the year's 8 Fed announcements include an updated dot plot ...
Tue, Mar 18 2025, 3:07 PM
As we often discuss, mortgage lenders prefer to set their rates once per day. They only make changes when the underlying bond market makes a big enoug...
Tue, Mar 18 2025, 11:37 AM
Recall 2 weeks ago that news of the incoming German Chancellor's ambitions to massively increase debt/spending led to the end of the bond rally in the...
Tue, Mar 18 2025, 11:00 AM
The calendar pages flip. We’re in mortgage conference season again in hotels around the nation, and why not have a little fun leaving your quarters (e...
Mon, Mar 17 2025, 4:12 PM
Mixed Reaction to Retail Sales Makes For a Boring Monday
Despite coming in much weaker than expected, Retail...
Mon, Mar 17 2025, 3:50 PM
Mortgage rates are based on movement in the bond market, and the bond market is closed for most of the weekend. As such, one might assume that Monday...
Mon, Mar 17 2025, 11:57 AM
After improving modestly in the overnight session, bonds contended with the Retail Sales data at 8:30am ET. At first glance, it should have been help...
Mon, Mar 17 2025, 11:25 AM
“My friend showed me a photo of a famous meteor crater in Arizona. It's amazing how close it landed to the Visitor's Center!” Here in Tucson, the weat...
Fri, Mar 14 2025, 6:22 PM
Uneventful Friday, Even if Slightly Weaker
Friday's trading session was the most uneventful of the week. It...
Fri, Mar 14 2025, 3:38 PM
Despite some ups and downs on a small scale, mortgage rates have been sideways in the bigger picture. That's a good thing if the latest refi applicat...
Fri, Mar 14 2025, 12:05 PM
Time flies. We’re at “pi day” (3.14), two weeks until the end of the quarter, one month before our taxes are due. Tax returns for individuals are priv...
Fri, Mar 14 2025, 9:29 AM
It's been an on-again, off-again week for bonds and several of their trading motivations. Economic data has played its part at times, but not in any ...
Thu, Mar 13 2025, 4:25 PM
Stocks Save Bonds From Modest Losses
You won't always be able to count on the market dynamics we've seen ove...
Thu, Mar 13 2025, 3:38 PM
Mortgage rates hit their highest levels in just over 2 weeks yesterday and they were on track to remain unchanged today. In fact, the average lender o...
Thu, Mar 13 2025, 11:47 AM
Teddy Roosevelt thought that lawyers are trained to serve clients and not justice. An interesting discussion topic. Residential lending certainly has ...
Thu, Mar 13 2025, 10:40 AM
Seemingly overnight (i.e. over the past 30 days when it comes to markets reacting to economic data), the CPI and PPI inflation numbers that normally i...
Wed, Mar 12 2025, 4:09 PM
Why Aren't Bonds Happier About CPI?
For the 2nd month in a row, the market's reaction to a CPI/PPI report en...
Wed, Mar 12 2025, 3:18 PM
Mortgage rates have moved up over the past 2 days, ultimately hitting the highest levels since February 24th today. While that sounds somewhat unplea...
Wed, Mar 12 2025, 11:48 AM
Today's CPI came in lower than expected. That would normally help bonds rally, but they didn't seem too eager to do that. One explanation is that the ...
Tue, Mar 11 2025, 3:56 PM
Consolidation Continues Ahead of CPI
February 19th through March 3rd marked an exceptionally directional ral...
Tue, Mar 11 2025, 3:15 PM
With fiscal and geopolitical developments dominating the news cycle, it would be easy to forget that interest rates prefer to take their primary cues ...
Tue, Mar 11 2025, 12:52 PM
Bonds were initially stronger at the start of overnight trading in Asia, but began selling off at a fairly steady clip almost immediately. By the sta...
Tue, Mar 11 2025, 11:42 AM
“Buying eggs on the street and weed in the stores: the times they are changing.” Borrowers are certainly reacting to changes in rates as capital marke...
Mon, Mar 10 2025, 3:44 PM
More Help From Stocks, But More Reluctance From Bonds
Up until just after 3pm ET, the stock market was on pa...
Mon, Mar 10 2025, 3:02 PM
Conventional 30yr fixed mortgage rates hit their lowest levels in months last Tuesday morning, with the average lender right in line with levels from ...
Mon, Mar 10 2025, 11:53 AM
“Depression is merely anger without enthusiasm.” People flying around the nation have probably observed, or have heard, a change in the mood of airpor...
Mon, Mar 10 2025, 10:27 AM
Over the weekend, Trump was asked if he was expecting a recession this year. He replied that although he hates to predict such things, "there is a per...
Fri, Mar 7 2025, 4:03 PM
Bonds Give Up AM Gains After Powell Speech
Bonds made it through the jobs report in good shape with modest g...
Fri, Mar 7 2025, 2:47 PM
The average mortgage lender was briefly able to offer noticeably lower rates this morning compared to yesterday's latest levels. Credit goes to this m...
Fri, Mar 7 2025, 2:25 PM
As we noted last week, the timing of the improvements in mortgage rates meant that the previous survey of mortgage applications from the MBA was unabl...
Fri, Mar 7 2025, 11:48 AM
“If you boil a funny bone, it becomes a laughingstock. Now that's humerus.” What isn’t humer…, uh humorous, is a) most states losing an hour Sunday mo...
Fri, Mar 7 2025, 10:20 AM
Today's jobs report was a mixed bag with the most important number also being the most boring. Headline job creation came in at 151k vs 160k, which i...
Thu, Mar 6 2025, 4:07 PM
Decent Recovery as Sentiment Swoons Ahead of Jobs Report
Bonds have made it to Friday's jobs report without ...
Thu, Mar 6 2025, 3:18 PM
You may see conflicting news about mortgage rates today, depending on where you look. Weekly surveys, such as Freddie Mac's, are showing a fairly big ...
Thu, Mar 6 2025, 12:03 PM
“I recently saw a woman at Walmart with March Madness teeth... She was down to the final four.” Risk-free, prepayment-free Treasury rates have approac...
Thu, Mar 6 2025, 11:40 AM
There are a few moving pieces to the bond market narrative on Thursday. The general backdrop consists of yield curve steepening (fancy words that mea...
Wed, Mar 5 2025, 3:47 PM
2nd Straight Day of Losses. Blame Data or Stocks?
We already saw the end of the bond market's 9 day winning ...
Wed, Mar 5 2025, 3:12 PM
It's been a great couple of weeks for mortgage rates, largely mirroring the terrible couple of weeks for the stock market. A combination of downbeat e...
Wed, Mar 5 2025, 12:10 PM
Wednesday marks the return of market-moving economic data after Tuesday's lull. ADP Employment was up first and it came out much weaker than expected...
Wed, Mar 5 2025, 11:52 AM
Today involves a flight from Cancun to the West Coast. Maybe the news flow will cease for me in the six hours in the air, but the news flow impacting ...
Tue, Mar 4 2025, 4:19 PM
Winning Streak Finally Ends, But it Could Have Been Worse
Take yesterday out of the equation and today's clo...
Tue, Mar 4 2025, 3:31 PM
Although mortgage rates are based on bonds, and although bonds are constantly on the move throughout the day, mortgage lenders prefer to set the day's...
Tue, Mar 4 2025, 11:45 AM
Some argue that “March 4th” is the only date that is also a command (march forth), while others disagree and say that any date in March is also a comm...
Tue, Mar 4 2025, 11:26 AM
While much of the recent improvement in the bond market can be tied to various economic reports, there's been more than a normal amount of improvement...
Mon, Mar 3 2025, 4:03 PM
Bonds Start Week Off With a Bang
After a weaker overnight session, bonds bounced back swiftly after this mor...
Mon, Mar 3 2025, 3:31 PM
Mortgage rates faced a very small threat of a very small increase this morning. The underlying bond market was in weaker territory to start the day an...
Mon, Mar 3 2025, 12:07 PM
Bonds began the day in moderately weaker territory with most of the losses seen right at the start of the overnight session in Asia. With it being th...
Mon, Mar 3 2025, 11:43 AM
Can you believe it’s been five years since we were chuckling at, “I ran out of toilet paper and had to start using newspaper. Times are rough” and “Th...
Fri, Feb 28 2025, 4:16 PM
Bonds End The Week and The Month at Best Levels
Both MBS and Treasuries were easily at their best levels of ...
