Thu, Jan 7 2021, 11:49 AM
While COVID-19 has wreaked havoc on most of the economy last year, Wells Fargo's Securities Economic Group says many of the responses to the pandemic ...
Thu, Jan 7 2021, 11:05 AM
Some will say that the world’s most anticipated palindrome is “1-20-21”. Others will say that Inauguration Day spells the end of personal freedom in t...
Thu, Jan 7 2021, 9:38 AM
10yr yields were at the bottom edge of a months-long uptrend heading into the Georgia senate election. One result would have helped them break out to...
Wed, Jan 6 2021, 5:33 PM
Mortgage rates went to bed last night knowing they were at risk of a volatile day today. Georgia's senate race has been in focus for 2 months now beca...
Wed, Jan 6 2021, 4:49 PM
Crazy Day For Bonds. Is The Worst Over?
For 2 straight months, and especially over the past few weeks, we'v...
Wed, Jan 6 2021, 10:58 AM
Would you rather loan $200,000 to a Danish buntmager (furrier) or the United States Government? Well, while the industry is digesting the news that Gu...
Wed, Jan 6 2021, 9:49 AM
The Mortgage Bankers Association (MBA) resumed reporting on mortgage applications today after a two-week holiday hiatus. Information on mortgage volum...
Wed, Jan 6 2021, 9:35 AM
For 2 straight months, and especially over the past few weeks, we've been calling out the Georgia senate election as the biggest ticket market mover f...
Tue, Jan 5 2021, 3:53 PM
Mortgage rates got off to a slow start yesterday. It was hard to object considering that left the average lender in line with record lows. But today w...
Tue, Jan 5 2021, 3:53 PM
Tomorrow Could Be a Very Big Day For Bonds
Bonds experienced a bit of weakness today, but 10yr yields bounce...
Tue, Jan 5 2021, 11:06 AM
Home prices rose another 1.1 percent in November according to the CoreLogic report on its Home Price Index. The year-over-year gain was 8.2 percent , ...
Tue, Jan 5 2021, 10:54 AM
2021: Fifty years since the release of Led Zeppelin 4 (think Stairway to Heaven). In 1971 there were 208 million people living in the United States. N...
Tue, Jan 5 2021, 9:13 AM
Forget the economy. Forget covid. Forget Fed policy. Those things will all be back to move the bond market fairly soon, but first, there will be an...
Mon, Jan 4 2021, 4:30 PM
Mortgage rates are off to a slow start in the new year, and that's a good thing. An absence of movement means the average lender continues offering ra...
Mon, Jan 4 2021, 4:17 PM
Markets Back in Action, Hurrying Up and Waiting
Bonds were back in action today although you'd hardly know i...
Mon, Jan 4 2021, 11:36 AM
Total spending on construction projects in the U.S. rose 0.9 percent in November compared to October. The U.S. Census Bureau estimated that the season...
Mon, Jan 4 2021, 11:18 AM
The number of loans in COVID-19 forbearance plans last week rose for the third consecutive week during the period ended December 29. Black Knight said...
Mon, Jan 4 2021, 11:08 AM
Here we are on the first business day of 2021, the year of the movie Mad Max 2. (It is so much easier saying “2020” than “2021,” right?) Last year, as...
Mon, Jan 4 2021, 9:14 AM
The presidential election happened 2 months ago and since then, bonds really haven't moved other than in response to the Pfizer vaccine news on Nov 9t...
Thu, Dec 31 2020, 1:55 PM
Token Gains, Light Volume, Early Close
Bond market focus remains on the Georgia senate run-off election day ...
Thu, Dec 31 2020, 11:03 AM
I still don’t know what I’m wearing to the living room on New Year’s Eve. Heck, I may not even go. Wouldn’t it be nice to be on a cruise? Ever heard o...
Thu, Dec 31 2020, 9:24 AM
With Europe and Japan out on holiday, bonds had the lightest overnight session of the year today, and domestic hours won't be much better apart from a...
Wed, Dec 30 2020, 2:43 PM
Bonds Sticking to Year-End Script
Bonds did a perfect job sticking to their year-end script today. It reads...
Wed, Dec 30 2020, 11:28 AM
Pending home sales slid for the third straight month in November and the 2.6 percent decline was the largest of the three. The National Association of...
Wed, Dec 30 2020, 10:35 AM
Loan originators in our business see potential borrowers whose monthly mortgage payments would be less than their rent payments but don’t qualify for ...
Wed, Dec 30 2020, 8:57 AM
Election years always bring increased uncertainty to financial markets--some more than others. This is definitely one of those years--not because of ...
Tue, Dec 29 2020, 3:52 PM
Bonds on Cruise Control Unless Senate Approves Stimulus Upgrade
Barring an unexpected vote (and passage) of ...
Tue, Dec 29 2020, 3:50 PM
For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments c...
Tue, Dec 29 2020, 10:12 AM
With the passing of Pierre Cardin this morning, does it mean that bottle of cologne (circa 1978) I have in the attic became a collector’s item? The ph...
Tue, Dec 29 2020, 10:00 AM
The headline for the October S&P CoreLogic Case-Shiller home price report is yet another month of escalating gains. The National Home Price Index whic...
Tue, Dec 29 2020, 9:39 AM
With Trump signing the covid relief and government funding bill last week, the bond market had seemingly moved past its downside risks as they related...
Mon, Dec 28 2020, 4:00 PM
Uneventful Day Despite Covid Relief Bill
The big news at the end of last week was Trump's decision to veto t...
Mon, Dec 28 2020, 11:54 AM
As studies go, ATTOM Data Solutions Grocery Store Wars analysis is kind of silly. But at this point in this year, kind of silly is sort of welcome. Ke...
Mon, Dec 28 2020, 11:50 AM
The number of forbearance plans increased again during the six-day period (shortened because of the holiday) ended December 21 and again Black Knight ...
Mon, Dec 28 2020, 11:12 AM
Congress and the press have been talking about a second stimulus plan since the summer. The bill signed by President Trump last night keeps the U.S. G...
Mon, Dec 28 2020, 8:50 AM
The big news at the end of last week was Trump's decision to veto the defense bill (which, in turn, meant a veto of the broader stimulus/spending bill...
Thu, Dec 24 2020, 12:51 PM
Bonds Wearing Holiday Clothes Despite Trump Veto and Brexit
Along with the Friday after Thanksgiving, Christ...
Thu, Dec 24 2020, 11:18 AM
The Federal Housing Finance Agency (FHFA) has released a notice of proposed rulemaking that would require Fannie Mae and Freddie Mac (the GSEs) to dev...
Thu, Dec 24 2020, 9:58 AM
Bonds will close early today (2pm ET) and will be fully closed tomorrow. Along with the Friday after Thanksgiving, this is typically the lightest tra...
Thu, Dec 24 2020, 8:51 AM
New Homes Sales tumbled over 11 percent in November. Does that mean no one wants new homes, they’re over-priced, or there aren’t any to buy? One has t...
Wed, Dec 23 2020, 4:07 PM
Brexit Behind Selling Spree, But Bonds Defend The Ceiling
While headlines regarding the potential veto of th...
Wed, Dec 23 2020, 12:11 PM
The rate of home price increases accelerated again in October from their already heightened pace. The Federal Housing Finance Agency (FHFA) said its H...
Wed, Dec 23 2020, 12:11 PM
New home sales essentially fell of a cliff in November. The U.S. Census Bureau and the Department of Housing and Urban Development said on Wednesday t...
Wed, Dec 23 2020, 10:17 AM
My cat Myrtle (Myrtlus Domesticus) doesn’t have much in the way of material possessions. Need to get rid of unwanted junk during the holidays? Put it ...
Wed, Dec 23 2020, 9:43 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 29.5 percent in November compared to a 25.7 percen...
Wed, Dec 23 2020, 8:36 AM
In its last report of 2020, the Mortgage Bankers Association (MBA) said refinancing represented nearly three-quarters of application activity during t...
Wed, Dec 23 2020, 8:30 AM
Today's econ calendar is quite a bit bigger than normal. It's also bigger than it would be if this was just any old week with a full 5 trading days. ...
Tue, Dec 22 2020, 6:54 PM
Mortgage rates hit another all-time low on Friday for most lenders. Other lenders had slightly lower rates yesterday morning. Since then however, almo...
Tue, Dec 22 2020, 3:38 PM
Volatility is Possible, But It Wasn't Possible Today
Bonds have decidedly engaged in a stereotypical year-en...
Tue, Dec 22 2020, 11:26 AM
Existing home sales finally took a breather in November, breaking a five month stretch of gains, often substantial ones. The National Association of R...
