Wed, May 12 2021, 4:20 PM
Inflation Data Throws Down Gauntlet. Markets Panic
It's easy enough to imagine or even expect that near-term...
Wed, May 12 2021, 10:51 AM
After last Friday's weaker jobs report, bonds rallied at first, but then bounced into weaker territory in just a few hours. That failure meant bond y...
Wed, May 12 2021, 10:41 AM
Is Better.com worth $7.7 billion , as indicated by the SPAC deal announced yesterday? I guess things are worth the price at which a willing buyer and ...
Wed, May 12 2021, 10:35 AM
Mortgage application volume rose for the first time since mid-April last week. The Mortgage Bankers Association (MBA) said its Market Composite Index,...
Wed, May 12 2021, 8:07 AM
Metro area home prices rose sharply in the first quarter of 2021 and virtually every part of the country was impacted. The National Association of Rea...
Wed, May 12 2021, 8:05 AM
Access to mortgage financing improved in April, driven by a large gain in the availability of both conforming and jumbo mortgages. The Mortgage Banker...
Tue, May 11 2021, 4:02 PM
Bonds Still Struggling. 10yr Staging For a Bigger Move?
After holding ground admirably overnight despite the...
Tue, May 11 2021, 3:47 PM
Mortgage rates had enjoyed a solid little run for almost all of April and again in the first week of May. By last Thursday, they were at their lowest ...
Tue, May 11 2021, 10:42 AM
Mortgage delinquency rates ticked up slightly in February, the first increase since August 2020 . CoreLogic said the national delinquency rate at the ...
Tue, May 11 2021, 10:40 AM
The real estate and lending industries operate in a world filled with laws, lawsuits, and regulators. (The latest example is REX’s suit against Zillow...
Tue, May 11 2021, 10:08 AM
Bonds lost ground moderately yesterday and blame was most easily assigned to the broad notion of "supply." More specifically, a record-setting round ...
Mon, May 10 2021, 4:02 PM
Heavy Issuance Weighs on Bonds
We knew bonds would be skittish about Treasury auctions this week, but the de...
Mon, May 10 2021, 11:34 AM
Fannie Mae has conducted the National Housing Survey every month since 2011. Among its most prominent questions are those relating to home buying and ...
Mon, May 10 2021, 11:28 AM
The Mortgage Bankers Association (MBA) reports that the percentage of non-current mortgages dropped by 35 basis points (bps) in the first quarter of 2...
Mon, May 10 2021, 10:09 AM
Here at the MBAG event in Northern Florida some of the topics of conversation is the economy, the inability to predict interest rates, families, and l...
Mon, May 10 2021, 9:44 AM
The week gets off to a slow start without any significant data on tap for Monday or Tuesday. The Treasury auction cycle becomes more relevant on Wedn...
Fri, May 7 2021, 3:44 PM
Bonds Fail to Capitalize on Super Weak Jobs Report
Nonfarm Payrolls came in at 266k compared to a median for...
Fri, May 7 2021, 11:37 AM
In a recent post on the National Association of Home Builder's (NAHB's) Eye on Housing blog, chief economist Paul Emrath said rising softwood lumber p...
Fri, May 7 2021, 10:15 AM
There was a sharp decline in the number of loans in forbearance during the week ended May 4. Black Knight says this has come to be the norm during the...
Fri, May 7 2021, 10:11 AM
It’s Friday, so how ‘bout some non-mortgage supply and demand stuff? Let me start with an apology to Willie Mays’ family (who may or may not read this...
Thu, May 6 2021, 4:06 PM
Mortgage rates moved lower today, bringing the average lender to the best levels since late February. Despite the milestone, the day-over-day movement...
Thu, May 6 2021, 3:50 PM
Lock/Float Considerations Ahead of Jobs Report
Bonds made it through Thursday without any notable volatility...
Thu, May 6 2021, 10:47 AM
Fannie Mae and Freddie Mac (the GSEs) have provided details for their streamlined refinance programs that were originally announced by the Federal Hou...
Thu, May 6 2021, 10:44 AM
Another home price index shows double digit annual price increases, this time for March, and the CoreLogic HPI also has the highest month-over-month g...
Thu, May 6 2021, 10:44 AM
While the market is digesting the implications Rocket’s earnings (the shares are down in pre-market trading), remember when, in March 2020, it was as ...
Thu, May 6 2021, 10:13 AM
Thursday kicked off with several potential bond market threats. Asian markets fired up again after a week of holidays. The influx of volume could ea...
Wed, May 5 2021, 3:42 PM
Mortgage rates were mixed today, depending on the lender. On average, rates were unchanged and remained very close to their lowest levels in nearly 2 ...
Wed, May 5 2021, 3:35 PM
MBS Near 2-Month Highs After Tame Econ Data
Coming into this week, Friday's jobs report was our best chance ...
Wed, May 5 2021, 10:52 AM
The Consumer Financial Protection Bureau (CFPB) says the overall mortgage related complaints it has received recently are at their highest level in th...
Wed, May 5 2021, 10:15 AM
Today celebrates Mexico’s victory over France in the Battle of Puebla on May 5, 1862. It was a relatively minor battle (and the French reclaimed Puebl...
Wed, May 5 2021, 8:50 AM
The bond market isn't tasked with underwriting any new long-term Treasury supply today, but it will have to digest the most recent refunding announcem...
Wed, May 5 2021, 8:16 AM
Mortgage application volume lost ground again last week, although the decline was small and refinancing volume pulled out a sliver of a gain. The Mort...
Tue, May 4 2021, 4:56 PM
The GSEs Fannie Mae and Freddie Mac have been given orders to develop so-called living wills. Such wills are credible resolution plans that outline ho...
Tue, May 4 2021, 4:54 PM
Nationwide spending on construction edged up fractionally in March, but the big story was the annual gain in residential construction spending, especi...
Tue, May 4 2021, 4:38 PM
Last week fired warning shots across the bow of April's mortgage rate rally. New month, new momentum? No, not just yet. In fact, we haven't seen much ...
Tue, May 4 2021, 4:01 PM
Earnings Season in Full Swing as Bonds Hold Range
Have you heard the one about Ferrari moving the bond marke...
Tue, May 4 2021, 10:30 AM
Most other countries construct homes out of concrete, stone, steel, or brick, but here in the good ol’ USA we use wood. A renewable resource, right? I...
Tue, May 4 2021, 9:04 AM
Have you heard the one about Ferrari moving the bond market? Well, now you have. In an apparent mystery move before the start of the domestic sessio...
Mon, May 3 2021, 4:01 PM
Logical Reaction to Data Sets Stage For Interesting Week
The week began with bond markets reacting to weaker...
Mon, May 3 2021, 12:42 PM
Black Knight's "first look" at March loan performance data explored the somewhat traditional dip in delinquencies each March due to calendar events li...
Mon, May 3 2021, 12:18 PM
Both Fannie Mae and Freddie Mac reported improved income during the first quarter of 2021. Fannie Mae said its net income increased from $4.57 billion...
Mon, May 3 2021, 10:18 AM
Who is Guramrit Hanspal? Every servicer and lender hope good ol’ Gur doesn’t start giving lessons in how to avoid making mortgage payments , which he ...
Mon, May 3 2021, 9:50 AM
One of the most notable themes of the past year is the relative unwillingness on the part of the bond market to make a big fuss over individual econom...
Fri, Apr 30 2021, 6:08 PM
Uneventful Month-End Friday. Next Week Could Be Different
Bonds recovered modestly but respectably after st...
Fri, Apr 30 2021, 10:55 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.2 percent in March compared to a 17.7 percent g...
Fri, Apr 30 2021, 10:53 AM
The number of loans in forbearance rose over the past week, driven by increases in those held in bank portfolios and private label securities (PLS). B...
Fri, Apr 30 2021, 10:19 AM
How are we 1/3 done with 2021 already? Few are sitting on their hands as the months roll on. Exxon had its first profitable quarter since 2019. Fannie...
Fri, Apr 30 2021, 10:02 AM
Bonds are starting the day in decent shape with 10yr yields just slightly lower than yesterday's latest levels. The bigger story is MBS outperformanc...
Thu, Apr 29 2021, 4:19 PM
Mortgage rates were mixed today, depending on the lender. Virtually every lender began the day with slightly higher rates, but most offered mid-day im...
Thu, Apr 29 2021, 3:59 PM
Awesome Bounce Back But Still a Cautionary Tale
Bonds started the day quite a bit weaker after several piece...
