Mon, Oct 4 2021, 10:35 AM
Residential lending is filled with technology shifts. (STRATMOR is offering up technology survey results below.) I am a luddite when it comes to that ...
Mon, Oct 4 2021, 9:57 AM
Bonds managed to consolidate by the end of last week after yields surged to the highest levels since June. They're now faced with the choice to acqui...
Fri, Oct 1 2021, 4:48 PM
The number of loans in forbearance declined by 18,000 during the week ended September 21 and by another 11,000 during the week ended September 28. The...
Fri, Oct 1 2021, 4:43 PM
Modestly Strong, Uneventful Trading Day, Version 3
Last week conditioned us for Drama. Monday and Tuesday su...
Fri, Oct 1 2021, 11:32 AM
Today is off to a relatively tame start with yields trading in the narrowest range of the week so far. It also marks the 3rd straight day of modest r...
Fri, Oct 1 2021, 10:37 AM
Although most states don’t “fall back” and change the clocks until November 7th, losing 3-4 minutes of daylight a day is now readily apparent, and it’...
Thu, Sep 30 2021, 4:11 PM
Do Today's Gains Mean The Selling Spree is Over?
After some initial weakness brought 10yr yields back in lin...
Thu, Sep 30 2021, 10:20 AM
The end of the third quarter is here already. The fate of Fat Bear Week hangs in the balance given the possible government shutdown. (Although the odd...
Thu, Sep 30 2021, 9:26 AM
In case you missed it, things have been bad for bonds since last Thursday. A combination of factors conspired to push yields higher at the fastest pac...
Wed, Sep 29 2021, 4:20 PM
After spending the past four business days moving rapidly higher, mortgage rates finally caught a break today, but it was small. In fact, the average ...
Wed, Sep 29 2021, 4:17 PM
Token Rally a Small Concession For Recent Selling Spree
After 4 straight days of heavy selling pressure, bon...
Wed, Sep 29 2021, 10:49 AM
Pending home sales rebounded in August after falling in both June and July. The National Association of Realtors® (NAR) said its Pending Home Sales In...
Wed, Sep 29 2021, 10:46 AM
Mortgage application volume edged slightly lower during the week ended September 24 , with purchase and finance applications sharing in the dip. The M...
Wed, Sep 29 2021, 10:39 AM
When bonds sell off as decisively as they have over the last 4 trading sessions, it's only a matter of time before buyers push back. The bigger the s...
Wed, Sep 29 2021, 10:37 AM
Why is breakfast in bed “luxurious” but breakfast, lunch, and dinner in bed is labeled “depression?” That’s something to consider. Today there’s so mu...
Tue, Sep 28 2021, 4:50 PM
Here's What's NOT Moving The Bond Market
Another day, another surprisingly brisk selling spree in the bond m...
Tue, Sep 28 2021, 3:53 PM
The headline requires a bit of context. The target audience would be those of us who keep tabs on every little move in mortgage rates . If you identif...
Tue, Sep 28 2021, 1:38 PM
Two important members of the real estate community issued reports related to the impact of climate change within the last week. The Mortgage Bankers A...
Tue, Sep 28 2021, 1:17 PM
The Federal Housing Finance Agency (FHFA) and all three of the S&P CoreLogic Case-Shiller price indices posted annual price gains in excess of 19 perc...
Tue, Sep 28 2021, 12:29 PM
Seen on a chalkboard outside a bar: “Beer shortage coming soon. Panic buy here!” Moving from booze to bonds, thinking that the Fed would buy $5 billio...
Tue, Sep 28 2021, 10:02 AM
Momentum, macroeconomic considerations, and Fed policy continue to dominate the bond market since last Thursday as traders are swept up in the widespr...
Mon, Sep 27 2021, 4:29 PM
Losses Continue Despite Decent 5yr Treasury Auction
Today's 5yr Treasury auction was respectable with the in...
Mon, Sep 27 2021, 3:18 PM
Mortgage rates continued somewhat higher on Monday as bond markets lost ground over the weekend, adding to the heavier losses seen on Thursday and Fri...
Mon, Sep 27 2021, 10:28 AM
I could tell that my cat Myrtle was miffed Sunday. I’m sure that she, given her position at the top of the food chain, believes that I shouldn’t be wa...
Mon, Sep 27 2021, 9:50 AM
At the end of last week, we noted the looming Treasury auction cycle at the start of this week. Due to calendar constraints, it's earlier than normal...
Fri, Sep 24 2021, 3:37 PM
Range Breakout or New Trend Channel?
It was an interesting trading session in the bond market as Treasury yi...
Fri, Sep 24 2021, 11:36 AM
Sales of newly constructed homes performed better than expected in August but remain well behind the pace set in August 2020. The U.S. Census Bureau a...
Fri, Sep 24 2021, 10:47 AM
As early as 4 months ago, we'd been eyeing late September as do or die time for the low rate environment. By early September, we had a very clear pic...
Fri, Sep 24 2021, 10:37 AM
First off, my apologies to Ernest Hemingway whose name I mistakenly wrote as “Earnest.” Thank you to those who pointed that out. Second… Okay… I see m...
Thu, Sep 23 2021, 3:54 PM
Homeowner equity grew $2.9 trillion nationwide from the second quarter of 2020 to the same quarter this year. CoreLogic's Homeowner Equity Report show...
Thu, Sep 23 2021, 3:52 PM
Delinquencies hit a new post-pandemic low in August as the national delinquency rate fell by 84,000 loans or 3.48 percent compared to July. It was 41....
Thu, Sep 23 2021, 3:49 PM
Existing home sales ended two months of gains in August, falling 2.0 percent on a seasonally adjusted basis from the previous month. The National Asso...
Thu, Sep 23 2021, 3:28 PM
Mortgage rates jumped substantially higher today as global markets reacted to yesterday's Fed announcement. But that's really just scratching the surf...
Thu, Sep 23 2021, 2:41 PM
What's Up With Today's Big Sell-Off?
It's not nearly as surprising to see bond yields breaking technical cei...
Thu, Sep 23 2021, 11:05 AM
This morning the Mortgage Bankers Association's Research Institute for Housing America (RIHA) released, The Impact of Climate Change on Housing and Ho...
Thu, Sep 23 2021, 10:03 AM
Wednesday's reaction to the Fed was essentially a non-reaction with yields ending the day very close to pre-Fed levels. Traders were more willing to ...
Wed, Sep 22 2021, 5:31 PM
Mortgage rates were surprisingly steady today as the bond market reacted to a new policy announcement from the Fed. Perhaps "reacted" is the wrong wor...
Wed, Sep 22 2021, 4:31 PM
Powell Effectively Confirms November Taper Barring NFP Catastrophe
Bonds reacted well to the initial Fed ann...
Wed, Sep 22 2021, 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, Sep 22 2021, 10:35 AM
Once a week it is Wednesday… but this one is noteworthy. An equinox is the instant of time when the plane of Earth's equator passes through the geomet...
Wed, Sep 22 2021, 10:02 AM
We've been pining for this particular Fed day for weeks, at least. In fact, as early as June 1st, we pointed out that Fed speakers seemed to suggest ...
Wed, Sep 22 2021, 8:10 AM
The Mortgage Bankers Association (MBA) estimates that there were 17 percent fewer applications for new home purchases in August than in July, but thos...
Wed, Sep 22 2021, 8:08 AM
The volume of applications for first mortgages grew by 4.9 percent on a seasonally adjusted basis during the first full week after Labor Day. The Mort...
Tue, Sep 21 2021, 3:54 PM
"Inside Day" Placeholder Ahead of Wednesday's Main Event
The AM commentary revisited and reiterated the cons...
Tue, Sep 21 2021, 2:24 PM
By the end of last week, mortgage rates moved up to match their highest levels in 2 months. After a modest recovery yesterday, today's rates are littl...
Tue, Sep 21 2021, 11:36 AM
Residential construction numbers were a surprise again in August. Permits for construction and housing starts were both higher than expected, however,...
Tue, Sep 21 2021, 11:34 AM
A cluster of stories about appraised values of homes in minority areas hit the national news earlier this summer and now Freddie Mac has released an a...
Tue, Sep 21 2021, 10:41 AM
A sign in the window reads CURED MEATS. Inside, a salami takes his first steps since the accident. A prosciutto learns to forgive. There are all kind ...
Tue, Sep 21 2021, 9:54 AM
Trading ranges and consolidation patterns can make for tedious discussion when they're well-behaved for weeks on end. We began discussing the current...
Mon, Sep 20 2021, 4:18 PM
Surprise Snowball Rally as Stocks Swoon Over Global Risks
When it comes to stocks vs bonds, pundits generall...
