Mon, Feb 7 2022, 11:18 AM
While brokers have taken note of UWM suing America’s MoneyLine for sending loans to Rocket and Fairway (remember UWM’s policy plainly stated last Marc...
Mon, Feb 7 2022, 9:53 AM
It was easy to focus on elephant in the room last week as most of the US bond market weakness came in apparent response to Friday's jobs report. But ...
Fri, Feb 4 2022, 5:01 PM
Aren't Bonds Overreacting to a Jobs Report That Wasn't Supposed to Matter?
The Fed already declared victory ...
Fri, Feb 4 2022, 1:46 PM
Goals are good. Anyone whose goals included bringing back serving alcohol on Southwest flights is happy. It is fine for the Biden Administration to hi...
Fri, Feb 4 2022, 1:31 PM
This wasn't supposed to happen. The bond market shouldn't have cared about today's jobs data. The Fed had already declared victory on jobs and mov...
Fri, Feb 4 2022, 12:29 PM
Rates have been trending higher in fits and starts since August 2020, but the mortgage market was insulated from much of the pain due to its disconn...
Thu, Feb 3 2022, 4:27 PM
What a difference a day makes. Unfortunately, it's an unpleasant difference in this case as mortgage rates went from the lowest levels in more than a...
Thu, Feb 3 2022, 4:05 PM
Weakness Reinforces Range Ahead of Jobs Report
Foreign central bank announcements pushed bond yields higher ...
Thu, Feb 3 2022, 11:37 AM
The U.S. Census Bureau says the nation’s homeownership rate was essentially unchanged through 2021. While it dipped 0.3 percentage point from the fo...
Thu, Feb 3 2022, 11:31 AM
Andy Rooney died over ten years ago. Many will say that Bill Mahr has taken his place, albeit with saltier language and a political bent. In this piec...
Thu, Feb 3 2022, 9:41 AM
The European Central Bank (ECB) and Bank of England (BOE) were both out with policy statements this morning. Only one of those--the contentious rate ...
Wed, Feb 2 2022, 4:02 PM
Bonds Uninterested in Huge ADP Miss; Another "Inside Day"
For the third day in a row now, bonds spent a dece...
Wed, Feb 2 2022, 3:36 PM
After a month like January (where rates rose very quickly), we'll take any victory we can get. In today's case, that means the celebration of rates...
Wed, Feb 2 2022, 2:20 PM
Construction spending totaled $1.599 trillion in 2021, an increase of 8.2 percent from the $1.470 trillion spent in 2020. Residential spending, both...
Wed, Feb 2 2022, 10:04 AM
For the second morning in a row, bonds have traded on both sides of unchanged. While today's swings haven't been as big as yesterday's, the lead chan...
Wed, Feb 2 2022, 9:30 AM
Here we are at Groundhog Day. A rodent predicting the weather has little tie-in with the 1993 movie of repeating the same day over and over again. Loc...
Wed, Feb 2 2022, 9:23 AM
Mortgage volume during the week ended January 28 recovered from a 7 percent decline the previous week to post the largest non-holiday related gain sin...
Tue, Feb 1 2022, 5:35 PM
Bonds Settle Sideways After Volatile Morning
The overnight session took bonds to stronger levels with 10yr y...
Tue, Feb 1 2022, 12:47 PM
January may have ended on a positive note, and the early morning hours of February may have held similar promise, but as the new trading month begins,...
Tue, Feb 1 2022, 11:49 AM
Home prices averaged year-over-year gains of 15 percent over the 12 months of 2021 compared to an average gain of 6.0 percent in 2020. CoreLogic’s H...
Tue, Feb 1 2022, 11:43 AM
Hundreds of billions of servicing are being bought & sold out there. With Freddie & Fannie servicing trading at 5:1 (mid 3’s for Ginnie servicing), gi...
Tue, Feb 1 2022, 9:58 AM
The monthly Originations Insight Report from ICE Mortgage Technology typically shows only incremental changes in loan characteristics from month to ...
Mon, Jan 31 2022, 3:57 PM
Wild Month Ends Uneventfully For Bonds
The first 3 and a half weeks of January were not great for the bond m...
Mon, Jan 31 2022, 3:44 PM
Mortgage rates moved higher at their fastest pace in several years at the beginning of January . Even though the volatility died down after the firs...
Mon, Jan 31 2022, 3:09 PM
ATTOM’s 2021 year-end report on the housing market found it was far from a typical year. The company noted a number of recent or all-time highs and lo...
Mon, Jan 31 2022, 11:32 AM
While the Northern East Coast digs out from snow, and Southern East Coast is on the lookout for falling iguanas in Florida, how’s this for a clever “o...
Mon, Jan 31 2022, 11:28 AM
The Gross Domestic Product (GDP) grew 6.9 percent in the fourth quarter of 2021, bringing the year’s growth to an expected 5.5 percent, the fastest s...
Mon, Jan 31 2022, 10:05 AM
Over the years the average jobs report week (typically the one with the first Friday of any given month) has a better chance than any other week to se...
Fri, Jan 28 2022, 4:52 PM
January has been a month marked by the market's adjustment to a shift in the Fed policy outlook. This began right at the outset and resulted in highe...
Fri, Jan 28 2022, 4:50 PM
How Meaningful is Post-Fed Rate Resilience?
2 days, 2 rallies following Wednesday's Fed-induced selling spre...
Fri, Jan 28 2022, 12:50 PM
Bonds lost ground steadily in the overnight session, but are turning green in early trading on Friday. Once again, the 9:30am NYSE opening bell emerg...
Fri, Jan 28 2022, 10:53 AM
Think you won’t be impacted by anti-U.S. sentiment in Russia? Think again. The Cybersecurity and Infrastructure Security Agency (CISA) issued two aler...
Thu, Jan 27 2022, 4:10 PM
What do we Make of Today's Bond Bounce?
After a big sell-off in response to yesterday's Fed announcement, bo...
Thu, Jan 27 2022, 11:14 AM
Overheard in the hallway: “My email got hacked again. That’s now the third time I’ve had to rename the cat.” But there’s a lot of other conversation a...
Thu, Jan 27 2022, 11:13 AM
CoreLogic reports it saw the incidence of mortgage fraud soar 37 percent last year. The fraud risk had declined through most of 2019 and 2020 but is ...
Thu, Jan 27 2022, 11:05 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 13.1 percent in December compared to a 12.0 pe...
Thu, Jan 27 2022, 11:01 AM
Stocks and bonds both sold off in response to yesterday's Fed events. Stocks weakened a bit more in the overnight session, but have been bouncing bac...
Thu, Jan 27 2022, 10:33 AM
Pending home sales fell for the second month in December and are finishing up the year well below their December 2020 level. The National Associatio...
Wed, Jan 26 2022, 6:04 PM
Fed policy is critically important to interest rates and January has marked a shift in the Fed policy outlook. In not so many words, the Fed sees its...
Wed, Jan 26 2022, 4:51 PM
Fed Stays Course on Policy Tightening; Calls Out MBS
As expected, the Fed announcement did nothing to alter ...
Wed, Jan 26 2022, 2:01 PM
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum ...
Wed, Jan 26 2022, 11:32 AM
New home sales finished the year less spectacularly than they started it, but the 11.9 percent month-over-month increase was the best since last Mar...
Wed, Jan 26 2022, 10:00 AM
One conversation topic not in the hallways here at the MBA’s Independent Mortgage Banker Conference in Tennessee is the death of the original voice of...
Wed, Jan 26 2022, 9:46 AM
Recent major Fed communications have had a tendency to stoke the fires of momentum in the bond market. This began in earnest in September. Not every...
Wed, Jan 26 2022, 8:33 AM
Even for a week containing a holiday, last week was a bad one. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of ...
Tue, Jan 25 2022, 3:45 PM
It's a tale as old as time for those who closely follow the day to day gyrations in the mortgage market. Bond volatility forces lenders to raise ra...
Tue, Jan 25 2022, 3:30 PM
Intraday Volatility But Mostly For Treasuries; Fed On Deck
Bonds began the day trading right in line with ye...
Tue, Jan 25 2022, 11:31 AM
Numbers are interesting things. “1” is the number of dogs, that I know of, rescued by a drone dragging a sausage and leading the dog to safety out of ...
Tue, Jan 25 2022, 11:02 AM
Annual increases in each of the three S&P CoreLogic Case-Shiller indices slowed fractionally from October to November. However, the rate of appreciati...
Tue, Jan 25 2022, 10:32 AM
Monday had the potential to challenge the notion of the pre-Fed consolidation in the bond market. If yields had managed to break below 1.70% and hold...
