Fri, May 28 2021, 10:04 AM
When we pondered the possibility (or frankly, the likelihood) of core inflation numbers hitting 3.0%+ several months ago, there was no way to know exa...
Thu, May 27 2021, 3:37 PM
Moderate Weakness; Decent Treasury Auction
7yr Treasury auctions haven't been great for the bond market in 2...
Thu, May 27 2021, 10:52 AM
I was telling my cat Myrtle about the labor shortage in the United States, but she didn’t seem fascinated, to say the least. In fact, she gave me a lo...
Thu, May 27 2021, 9:28 AM
With so much uncertainty about economic outcomes in the coming months, and with a healthy amount of bond market weakness already seen in the first qua...
Wed, May 26 2021, 3:35 PM
Yields Find a Floor Ahead of Month-End and Long Weekend
Today's most notable feature was a paradoxical move ...
Wed, May 26 2021, 11:08 AM
Do you think that creativity is waning? Hardly. Some great products and ideas come out of the mundane. Wonder what happens to your unused hotel soap a...
Wed, May 26 2021, 9:41 AM
When yields began to rise in August 2020 (and when they continued to rise at an even fast pace in Q1), we began looking for an intermission that wou...
Tue, May 25 2021, 4:41 PM
As of last Wednesday, mortgage rates were right in line with 1-month highs . They've drifted nicely lower since then and are now at their best levels ...
Tue, May 25 2021, 4:05 PM
Surprisingly Strong Move For No Great Reason
While there were a few positive developments for bonds today, t...
Tue, May 25 2021, 11:46 AM
The superlatives are getting tired - historic, record setting - but they have to come into play again with the March home price gains. A spokesperson ...
Tue, May 25 2021, 11:28 AM
Sales of newly constructed homes gave back some of their March gains last month, declining 5.9 percent to a seasonally adjusted annual rate of 863,000...
Tue, May 25 2021, 10:24 AM
Are you ready for a real-live holiday on Monday? With millions more Americans vaccinated since the last holiday, and the end-of-May weather, it’s a sa...
Tue, May 25 2021, 9:27 AM
Richmond Fed President Tom Barkin had the mic this morning at the NC Chamber of Commerce and one of his comments does a good job of capturing the esse...
Mon, May 24 2021, 3:56 PM
Uneventful But Slightly Stronger Start
At times, and especially during the summertime months, Mondays end up...
Mon, May 24 2021, 12:47 PM
A recent policy brief from the Urban Institute (UI) suggests a radical but common-sense solution for achieving affordable housing - homeownership. UI ...
Mon, May 24 2021, 10:51 AM
May's nonfarm payrolls number (released on June 4th) is the next obvious instance of a big ticket market mover. Between now and then, there are sever...
Mon, May 24 2021, 10:48 AM
What is your, and your company’s, value proposition? Lenders must be vigilant, which means paying attention to trends, big and small. For example, on ...
Fri, May 21 2021, 4:08 PM
Stronger Data Proves No Match For The Sideways Grind
Bonds have done a good job of clearing hurdles of vario...
Fri, May 21 2021, 12:16 PM
Existing home sales posted their third monthly loss in April, falling 2.7 percent compared to sales in March. The National Association of Realtors® (N...
Fri, May 21 2021, 10:34 AM
Should we start the finish of the normal workweek with some non-mortgage stuff? There are green monkeys living near a Florida airport who are connecte...
Fri, May 21 2021, 10:28 AM
American homeowners, even some of those most affected by the pandemic, seems to be edging back from anything resembling the foreclosure avalanche of 2...
Fri, May 21 2021, 10:00 AM
Who would have ever imagined that a week where the Fed Minutes included the first notion of post-pandemic instance of "tapering" could end up being "q...
Thu, May 20 2021, 4:38 PM
Fannie Mae upwardly revised its GDP forecast for the year from 6.8 percent to 7.0 percent in its May report on economic development. The company's eco...
Thu, May 20 2021, 4:16 PM
Mortgage rates moved slightly lower today depending on the lender. Those who raised rates yesterday afternoon (most of them) were able to offer slight...
Thu, May 20 2021, 3:39 PM
Inflation Expectations And Weaker Econ Data Helping Bonds
Ever since last week's CPI data caused inflation e...
Thu, May 20 2021, 10:50 AM
There are some who firmly believe that the Hubble Telescope was sent into space to spy on us. These people are better advised to wonder what Google is...
Thu, May 20 2021, 9:49 AM
Wednesday was a bit silly in the sense that a fairly innocuous reference to tapering in the Fed Minutes was blown out of proportion by the time market...
Wed, May 19 2021, 3:51 PM
Mortgage rates began the day in line with yesterday's levels, for the most part. Things changed in the afternoon. Bonds began to deteriorate modestly ...
Wed, May 19 2021, 3:48 PM
Questionable Taper Talk Conclusions Result in Heavy Selling
The word "heavy" requires some qualification. I...
Wed, May 19 2021, 10:58 AM
Face facts: There are many differences between men and women. One of which is that when returning home from the grocery store, women typically are mor...
Wed, May 19 2021, 9:10 AM
Bonds were flat to start the overnight session, but moved higher right at the start of European trading. This has been a major theme in the past few ...
Wed, May 19 2021, 8:45 AM
Mortgage originations are still finding much of their strength in the refinance sector even during those weeks when rates increase. The Mortgage Banke...
Tue, May 18 2021, 3:27 PM
Mortgage rates were at their lowest levels in several months by the beginning of last week. They spent the next several days moving higher (especially...
Tue, May 18 2021, 3:26 PM
Low Volume/Volatility For a Second Straight Day
Although it was last Wednesday that offered the lion's share...
Tue, May 18 2021, 10:50 AM
Housing starts fell back from the annual rate of 1,733,000 units reported for March. Residential starts in April were down 9.5 percent to a seasonally...
Tue, May 18 2021, 9:26 AM
The guy I was talking to yesterday asked about my background. I gave him a detailed history of my upbringing, my education, work experience, and why I...
Tue, May 18 2021, 9:09 AM
Today's only notable economic release is helping the bond market get off to a stronger start today. New Residential Construction, came out weaker tha...
Mon, May 17 2021, 4:03 PM
Super Slow Day; Still Waiting For Breakout
Whether it's the narrow range between 1.62 and 1.68% in 10yr yiel...
Mon, May 17 2021, 11:05 AM
The National Association of Home Builders (NAHB) said new home builders are not losing faith in the market for new homes despite their growing concern...
Mon, May 17 2021, 11:00 AM
Here is a dab of trivia to start the week. There are only about 2,000 heart transplants every year in the United States. So, on average, that’s only a...
Mon, May 17 2021, 9:24 AM
Q4, 2020 was all about yields moving higher at a gradual pace. Same story for Q1, 2021, but at a much quicker pace. If Q2, 2021 has a them, it's bee...
Fri, May 14 2021, 4:32 PM
Weaker Retail Sales Casts Vote For Range-Holding
Wednesday's CPI data was akin to some passionate political ...
Fri, May 14 2021, 10:20 AM
Let me start Friday with an apology… to Alaska. (I thought I saw an eye doctor on an Alaskan island, but it turned out to be an optical Aleutian.) Jul...
Fri, May 14 2021, 9:42 AM
Wednesday's CPI data was akin to some passionate political orator making a case for the country to go to war against low rates. Yesterday's 30yr bond...
Thu, May 13 2021, 4:40 PM
That applications for mortgages to purchase newly constructed homes rose 30.8 percent in April compared to a year ago is not a particularly useful pie...
Thu, May 13 2021, 4:35 PM
It's Thursday and, thus, time once again to check in with the slew or mortgage rate headlines that typically follow the release of Freddie Mac's weekl...
Thu, May 13 2021, 3:49 PM
Supply Storm Weathered (Could Have Been Worse)
After yesterday's brisk sell-off in the bond market, today's ...
Thu, May 13 2021, 10:44 AM
People around the nation are “voting with their feet.” Illinois: Seven straight years of population declines . California: Losing population during a ...
Thu, May 13 2021, 10:10 AM
Bonds are off to a much better start today vs yesterday (it wouldn't take much, consider yesterday was the worst day in 2+ months). This morning's pr...
Wed, May 12 2021, 4:35 PM
After bottoming out at 2 month lows late last week, mortgage rates have been heading higher. At first, the move was relatively gradual, but the pace i...
