Tue, Nov 24 2020, 10:59 AM
Remember when you drove to work every day? For non-mortgage kicks, here’s a site where you can take a virtual drive through dozens of cities around th...
Tue, Nov 24 2020, 10:02 AM
With very little by way of significant data or events as far as financial markets are concerned, today's most interesting revelation will be FHFA's an...
Mon, Nov 23 2020, 5:01 PM
Everything is relative when it comes to following day-to-day movements in mortgage rates . Yes, they're technically higher than they were on Friday af...
Mon, Nov 23 2020, 4:34 PM
Bond Market Weakness Introduce Risk of In-Range Bounce
Bonds were weaker overnight following European econom...
Mon, Nov 23 2020, 1:39 PM
A recent survey by Lending Tree found that nearly half of Americans are thinking about moving in the not-to-distant future and it appears that the COV...
Mon, Nov 23 2020, 10:18 AM
Any time there's at least a moderate amount of movement in the overnight session, a consensus typically emerges as to the key driver of said movement....
Mon, Nov 23 2020, 10:07 AM
Black Knight, in its "first look" at the month's loan data, says that mortgage delinquencies improved for the fifth consecutive month in October. The ...
Mon, Nov 23 2020, 10:02 AM
Sunday morning I was trying to explain to my cat Myrtle how the total cost of rescuing a stranded Matt Damon in all of his films (think Saving Private...
Fri, Nov 20 2020, 3:43 PM
Bonds Are Boring Today, So Let's Talk About 1.5 UMBS
Treasuries did little to react to a smattering of poten...
Fri, Nov 20 2020, 12:07 PM
The forbearance plan rolls expanded slightly over the past week, reversing two weeks of falling numbers. Black Knight said the total of loans in appro...
Fri, Nov 20 2020, 11:18 AM
There are no significant events on the economic calendar today, and it is the last full trading day of the last full trading week before the winter ho...
Fri, Nov 20 2020, 10:10 AM
Many years ago I was hanging out with George Clooney and made the mistake of telling him, “Look, you’ll never amount to much as an actor. You’d be muc...
Thu, Nov 19 2020, 5:27 PM
Ellie Mae said the interest rate across all closed loans dropped below 3 percent for the first time in the nine years the company has been tracking th...
Thu, Nov 19 2020, 5:24 PM
The Federal Housing Finance Agency (FHFA) has reached another milestone as it tries to resolve the 12-year conservatorship of the GSEs. On Wednesday i...
Thu, Nov 19 2020, 4:40 PM
August 4th, 2020 was the best day ever for mortgage rates . That's when we hit the lowest all-time lows we've ever seen, and none of the most prevalen...
Thu, Nov 19 2020, 4:24 PM
Tame Trading Day Leaves Outlook Intact
The bond market has been in a bullish consolidation pattern since las...
Thu, Nov 19 2020, 11:10 AM
The hot home sales market continued unabated in October. The National Association of Realtors® (NAR) reports that existing home sales grew for the fif...
Thu, Nov 19 2020, 9:24 AM
The bond market has entered a period of consolidation after the recent run up toward 1.0% in 10yr yields. Whether we're looking at the market action ...
Thu, Nov 19 2020, 9:01 AM
“Life is like a helicopter. I don’t know how to operate a helicopter.” Remember how exciting it was when the technology of spellcheck came along? (Peo...
Wed, Nov 18 2020, 5:22 PM
Mortgage rates were little-changed yesterday--a fact that was ultimately at odds with underlying market movement by the end of the day. What does that...
Wed, Nov 18 2020, 4:57 PM
Yields Give Up Early Lead But Remain Near 2-Week Lows
Today ended up being about as big of a roller coaster ...
Wed, Nov 18 2020, 3:18 PM
Freddie Mac has published research examining the characteristics of borrowers who took advantage of the availability of forbearance plans in the early...
Wed, Nov 18 2020, 3:16 PM
Residential construction data for October was mixed. The U.S. Census Bureau and Department of Housing and Urban Development reported that the rate of ...
Wed, Nov 18 2020, 10:33 AM
Bonds are making a case for a bigger picture bounce with 10yr yields turning a corner just before hitting the epic psychological barrier of 1.0%. Mor...
Wed, Nov 18 2020, 9:13 AM
If you had 20 million close friends, and each one owed $500k on their house, the total would be $10 trillion of mortgage debt. Coincidentally, that is...
Wed, Nov 18 2020, 9:06 AM
The Mortgage Bankers Association's (MBA's) November 2020 economic forecast ups the ante from its rosy October version. Its revisions are due to the st...
Wed, Nov 18 2020, 9:03 AM
Despite a healthy upward bump in purchase applications, overall mortgage volume declined last week. The Mortgage Bankers Association (MBA) said its Ma...
Tue, Nov 17 2020, 4:20 PM
Mortgage rates were little-changed today, with the average lender only microscopically better than yesterday. That means few loan seekers will notice ...
Tue, Nov 17 2020, 4:04 PM
Rates Running Out of Things to be Afraid Of?
Bonds improved today--mostly during the overnight trading sessi...
Tue, Nov 17 2020, 11:54 AM
For the third straight month the level of builder confidence in the new home market set a record high . The National Association of Home Builders (NAH...
Tue, Nov 17 2020, 10:58 AM
Predictions? Show me one person, a year ago, who forecast what has happened (so far) this year! (I went to see a psychic the other day. I knocked on t...
Tue, Nov 17 2020, 10:06 AM
In spite of yesterday's Moderna vaccine news, 10yr yields managed to end the day nearly unchanged. More impressively, they're heading into the curren...
Mon, Nov 16 2020, 3:56 PM
Last week, trial results from Pfizer's covid vaccine sent shockwaves through financial markets. Stock prices and bond yields both moved decisively hig...
Mon, Nov 16 2020, 3:36 PM
Bond Market Indecision After More Vaccine News
Another Monday, another early morning announcement of stagger...
Mon, Nov 16 2020, 10:20 AM
On back to back Monday mornings at 6:45am, both of the frontrunner covid vaccine trials have announced surprisingly strong late stage results (Pfizer ...
Mon, Nov 16 2020, 9:12 AM
Here’s a good one. “I’m giving up drinking until Christmas. Sorry, wrong punctuation. I’m giving up. Drinking until Christmas.” Did you know that 1/20...
Fri, Nov 13 2020, 5:15 PM
Treasuries Reluctant to Add to Rally, But MBS Outperform.
It was a ho-hum day for bonds. Movement was minim...
Fri, Nov 13 2020, 11:13 AM
The National Association of Realtors® (NAR) said on Thursday that home prices have continued to grow in each of the 181 areas it tracks for its quarte...
Fri, Nov 13 2020, 10:55 AM
The holiday-shortened bond trading week began poorly with vaccine news causing a massive yield spike. Tuesday didn't do too much to allay fears, but ...
Fri, Nov 13 2020, 10:46 AM
The number of COVID-19 related forbearances plans headed downhill at an increasing pace over the last few week although there is no guarantee the impr...
Fri, Nov 13 2020, 10:43 AM
Mortgage applications , especially for home purchases, pulled back from the previous week's level. The Mortgage Bankers Association (MBA) said its Mar...
Fri, Nov 13 2020, 10:11 AM
Welcome to the first Friday the 13th of 2020 since March. What an eight months! Cindy E. writes, “The longer I stay at home, the more homeless I look....
Thu, Nov 12 2020, 4:24 PM
Earlier in the month, mortgage rates rose somewhat abruptly as lenders got in a defensive position ahead of the election. They'd learned in 2016 just ...
Thu, Nov 12 2020, 4:23 PM
Strong Move in Bonds Helps Balance The Outlook
After a month of almost exclusive weakness, extreme volatilit...
Thu, Nov 12 2020, 11:08 AM
Tried and true has won out over shiny and new, at least when it comes to GSE credit scoring. And at least for the moment. The Federal Housing Finance ...
Thu, Nov 12 2020, 10:59 AM
There was apparently a certain profile of home buyers before the pandemic struck and a different one after it began. The National Association of Realt...
Thu, Nov 12 2020, 10:52 AM
Are the election results under control? Thank you to Hawai’i’s Joe G. who sent along this site where the odds of who the next president will be are po...
Thu, Nov 12 2020, 9:54 AM
Following Monday's vaccine-inspired bond rout, we're seeing markets take the middle path. Stocks corrected to pre-vaccine levels later that same day ...
Tue, Nov 10 2020, 5:01 PM
Bonds Refuse to Answer The Big Questions Heading Into Mid-Week Holiday
After days like Monday (in which the ...
Tue, Nov 10 2020, 2:37 PM
Mortgage rate movement had been very calm relatively resilient compared to the broader bond market. In other words, mortgages have been doing better t...
