Thu, Jul 19 2018, 9:18 AM
This primer (and this one, and this one) will be useful for digesting the following, if you haven't read it before.
For those paying any sort of at...
Wed, Jul 18 2018, 5:44 PM
After holding the same sideways range since June 27th, 10yr Treasury yields finally knocked on the 2.88+ ceiling for the 2nd time (the previous atte...
Wed, Jul 18 2018, 4:57 PM
Mortgage rates were flat again today, further prolonging a trend that's been in place for weeks. During that time, we've seen modest ups and downs, bu...
Wed, Jul 18 2018, 9:46 AM
Fed Chair Powell will deliver round 2 of his congressional testimony today, this time at the House FSOC (yesterday was with the Senate Banking Committ...
Tue, Jul 17 2018, 5:18 PM
Fed Chair Powell fielded questions from the Senate Banking Committee today as a part of the 2-day semi-annual congressional testimony often referred...
Tue, Jul 17 2018, 4:36 PM
Mortgage rates were generally unchanged today, prolonging an exceptionally flat trend. Over the past 3 weeks, the average mortgage seeker will not hav...
Tue, Jul 17 2018, 9:47 AM
Fed Chair Powell begins 2 days of semi annual congressional testimony today with the Senate Banking Committee at 10am. In recent years, this testimon...
Mon, Jul 16 2018, 5:52 PM
Summertime Mondays are notorious for light volume and seemingly random trading. Today was a slightly more active than normal in that regard, largely ...
Mon, Jul 16 2018, 4:11 PM
Mortgage rates fell to their lowest levels since late May as of last Friday. Today, then, would be the 2nd best day since late May. Rates edged slight...
Mon, Jul 16 2018, 9:05 AM
This is the off-season for bonds, but they still have to show up for the game every day. The coaching staff (aka the traders turning the cogs of the ...
Fri, Jul 13 2018, 4:23 PM
Before any discussion about market movement in July, we have to set the stage with some disclaimer about "slow summertime trading." That was the su...
Fri, Jul 13 2018, 2:55 PM
Mortgage rates fell by an observable amount today-- one of the few times they've done so in recent weeks. Technically, today's average lender is offer...
Fri, Jul 13 2018, 10:20 AM
I know I made a Looney Tunes reference last week, but another one is in order. For those that aren't familiar, Yosemite Sam is stranded on a desert i...
Thu, Jul 12 2018, 5:18 PM
Mortgage rates stood a very decent chance to experience the highest volatility of the week today thanks to the most important economic data of the wee...
Thu, Jul 12 2018, 4:59 PM
Welcome to summertime in the bond market, where each day is narrower than the last! The same can be said for the past 2 weeks and the past several mo...
Thu, Jul 12 2018, 2:43 PM
In a fairly rare turn of events, Fed Chair Powell gave a rather lengthy radio interview with Marketplace's Kai Ryssdal. Here's a rather lengthy trans...
Thu, Jul 12 2018, 9:51 AM
This morning's key data release is already out and it's already proven to be a dud (MBS Live members can read the update HERE). So we'll head to hi...
Wed, Jul 11 2018, 5:59 PM
Today was the most active trading day of the week--something that looked destined to be the case considering markets began gyrating right at the sta...
Wed, Jul 11 2018, 4:54 PM
Mortgage rates played the same role they've been playing for weeks by holding fairly steady today. At the average lender, if you're looking for an ave...
Wed, Jul 11 2018, 9:50 AM
The first two days of the week were largely spent lamenting the slow and inconsequential nature of summertime trading in the bonds market. At least t...
Tue, Jul 10 2018, 4:37 PM
If we look solely at the US trading hours, yesterday and today form a nearly perfect 2-day trend just slightly higher in rate. Fannie 4.0 MBS prices ...
Tue, Jul 10 2018, 3:45 PM
Mortgage rates didn't move for most lenders today. Remaining lenders were just slightly higher than yesterday, thus keeping this week's modest upward ...
Tue, Jul 10 2018, 9:14 AM
Yesterday saw the lightest Treasury volume of any full trading day so far this year. That's no great surprise in July, as this tends to be the month ...
Mon, Jul 9 2018, 5:32 PM
Bonds were moderately weaker today with Treasuries outpacing MBS in that regard. 10yr yields had fallen just over 3bps before the start of domestic...
Mon, Jul 9 2018, 4:47 PM
Mortgage rates were modestly higher today amid exceptionally quiet market conditions. In general, the bond market (which underlies mortgage rates) has...
Mon, Jul 9 2018, 9:19 AM
Last week was was a bit lacking in terms of trading days due to the holiday market closure, but it made up for that with bigger-ticket data and events...
Fri, Jul 6 2018, 7:35 PM
Bonds and mostly stocks were braced for something fairly austere heading into this morning's hard launch of new tariffs. This accounted for a clearl...
Fri, Jul 6 2018, 6:12 PM
Mortgage rates finally fell today--something that's proven elusive since roughly June 15th. Incidentally, that's when financial markets began bracing ...
Fri, Jul 6 2018, 8:12 AM
As investors have sought a safe haven from trade-related risks, bonds have benefited more than they otherwise might have and stocks have been restrain...
Thu, Jul 5 2018, 4:26 PM
Mortgage rates were sideways to slightly higher today as financial markets returned for the final 2 days of the holiday-shortened week. Trade war anxi...
Thu, Jul 5 2018, 9:27 AM
Heading into the day and a half holiday break, bonds had been consolidating in a narrower range centered on 2.85% in terms of 10yr yields. Now, as bo...
Tue, Jul 3 2018, 2:39 PM
Yesterday's headline was "strong start; weak finish." Today's is the opposite (obviously). In both cases, geopolitical issues played a role in ove...
Tue, Jul 3 2018, 1:55 PM
Mortgage rates ended the day roughly in line with yesterday's on average. That said, there's a wider-than-normal gap between lenders depending on seve...
Tue, Jul 3 2018, 9:05 AM
If bond markets had a nice month-end buying spree at the end of June, it happened on the 27th. The next two days saw moderate weakness . Yesterday'...
Mon, Jul 2 2018, 5:33 PM
Bonds started out in stronger territory today, thanks to geopolitical risks stemming from European immigration issues. When domestic traders got in f...
Mon, Jul 2 2018, 5:09 PM
Mortgage rates began the day in decent shape relative to last week. The average lender's rate/fee combo was at least as low as it had been on Friday. ...
Mon, Jul 2 2018, 10:05 AM
The 4th of July, like a handful of other bond market holidays, doesn't care what day of week the 4th falls on. That makes it one of the very times ea...
Fri, Jun 29 2018, 6:49 PM
On 2 occasions this week, bonds set closing yield lows for the month. Moreover, if we strike the craziest day from late May from the record (since It...
Fri, Jun 29 2018, 5:57 PM
Mortgage rates haven't moved for 3 straight days now. In fact, if you're not too concerned with minutia, there hasn't been any major movement in weeks...
Fri, Jun 29 2018, 9:51 AM
With each passing day this week, bonds do more to prove that the low yields achieved during the Italian panic were more than the mere byproduct of a s...
Thu, Jun 28 2018, 5:12 PM
Referring to today as "modestly" weaker is a debatable choice. On the one hand, trading levels hit the 3pm close in modestly weaker territory. No ar...
Thu, Jun 28 2018, 4:43 PM
Mortgage rates haven't been too interested in making big moves recently. Today was no exception. In fact, most lenders' rate quotes would be indiscern...
Wed, Jun 27 2018, 4:49 PM
The last time trading levels in bond markets were this strong at the close of business, it was on the most dire day of the Italian political drama--th...
Wed, Jun 27 2018, 4:01 PM
Mortgage rates finally fell today after remaining flat for the last 3 business days. There are a few possible explanations for the friendly move, but ...
Wed, Jun 27 2018, 9:35 AM
Monty Python isn't for everyone, but the old TV series is chock full of life lessons and random knowledge that really helps round out one's trivia pro...
Tue, Jun 26 2018, 5:11 PM
Bonds traded almost exactly the same range as they did yesterday. This time around, volumes were 33% lower, bringing them in line with recent lows ...
Tue, Jun 26 2018, 4:27 PM
Mortgage rates were flat for the 3rd straight day today, keeping them in a holding pattern just slightly below the highest levels in years. This has b...
Tue, Jun 26 2018, 9:56 AM
Technical analysis is an important ingredient in most market-watching recipes--at least when it comes to those who are compelled to watch markets most...
Mon, Jun 25 2018, 4:53 PM
So much for the stock lever! Though, to be fair to conventional wisdom , falling stock prices definitely did help bond yields move lower this mornin...
Mon, Jun 25 2018, 4:33 PM
Conventional wisdom holds that interest rates tend to move in the same direction as stocks. This makes logical sense from a classical investment portf...
