Unlike Monday, which saw a fairly brisk move toward higher rates, Tuesday barely budged. Additionally, the budging occurred in a friendly direction wi...
The early days of a new trading month and the positioning ahead of next week's Fed announcement have resulted in clear curve trading biases. In Engli...
I don’t know about you, but a hot shower or bath always sounds good. Tech wizards, however, have created a human washing machine. I’ll pass. At this p...
Mortgage rates are based on bonds and the bond market is prone to erratic behavior on major holiday weeks. One of the more common patterns is for the ...
A buddy from Kentucky wrote to me, saying, “Statistics show that the average person has sex 89 times per year. Looks like I'm in for a pretty wild Dec...
Bonds are sharply weaker to begin the new week and the new month. This is the first (and probably best) clue as to the nature of this morning's market...
As is most often the case, the Friday after Thanksgiving added nothing interesting to mortgage rate momentum. The average lender's top tier 30yr fixe...
When did our business start with the catchy slogans? Stay alive in ’25? Stay in the mix in ’26. It’ll be heaven in ’27. How about, “Try to earn a litt...
Wednesday was far less eventful than the first two days of the week as far as mortgage rates were concerned. The average lender raised rates just a ha...
The new phone books are here, the new phone books are here! Oh, wait a minute. The new conventional conforming loan limits are here! The new conventio...
Bonds were just slightly weaker overnight but are losing more ground in early trading. The culprit: both of this morning's 8:30am ET economic release...
Mortgage rates moved nicely lower on Tuesday with the average lender very close to the 2025 lows seen in late October. These levels are effectively ri...
Both the FHFA and the S&P/Cotality Case-Shiller home-price indices released new data this week. The message remains consistent: home prices are still ...
Want better affordability? Lower house prices certainly helps, and this article states that more than half of homes in the United States have fallen i...
ADP's weekly employment report showed another contraction at -13.5k, but unlike last week, no one seems to care. We also got the delayed release of Re...
Thanksgiving weeks can be weird for mortgage rates. This has to do with the fact that rates are dictated by the bond market and the bond market depend...
“Remember to bring up politics at Thanksgiving to save some money on Christmas presents.” “What do tornadoes and Tennessee divorces have in common? So...
It's a data-free Monday on a holiday-shortened week and there aren't any high-impact headlines or massive stock swings to spark any serious bond marke...
Recent stock market losses have gotten a lot attention in the news recently. While there's no reliable correlation between stocks and interest rates, ...
Existing-home sales posted another modest gain in October, rising 1.2% to a seasonally adjusted annual rate of 4.10 million , according to the Nation...
Mortgage applications moved lower last week as rates continued drifting higher for a third straight week. MBA’s Weekly Applications Survey for the wee...
Builder confidence levels are still kicking the same sad little can down the road, just with slightly more enthusiasm. The November National Associati...
“Six cows were smoking joints and playing poker. That's right: The steaks were pretty high.” The steaks, uh, stakes, are high when changes to our hous...
It was a pretty straightforward overnight session with a very high degree of correlation between bond yields and stock prices. The final leg of the ra...
Yesterday, we discussed the fact that mortgage rates were heading into Thursday with a disadvantage (for most lenders, anyway). This had to do with th...
“Here we are, a week away from Thanksgiving, and I’m in Kansas City. My family told me to stop telling Thanksgiving jokes, but I said I couldn’t quit ...
It's shaping up to be a "no whammies" sort of morning for the bond market. There's no denying that the jobs report was a highly tradeable event. The ...
It was a complicated day for mortgage rates. Officially, at the time of this article, the average top tier 30yr fixed rate is a hair lower than it wa...
As I type these words, I am sitting in front of one of Chuck Berry’s early residences in St. Louis. STL has a good musical reputation, a fine mortgage...
Correlation between stocks and bonds is hit and miss depending on other factors. Before the age of more aggressive Fed intervention, it was more commo...
With economic data being the most consistent source of motivation for rates, the market has been eager for it to return with the reopening of the gove...
Supposedly commercial air travel is back to normal, good for anyone coming in for the Mortgage Bankers Association of St. Louis event tomorrow and Thu...
We've seen a clumsy, confused return of various economic reports this morning (several reports were no previously announced with rescheduled release d...
The bond market (which dictates rates) was roughly unchanged over the weekend. As such, it's no surprise to see mortgage rates right in line with Frid...
Today’s trivia: Missouri and Tennessee are tied for bordering the most states: eight. This week I head to Missouri, the jumping off point for thousand...
The jobs report (for September) will be released on Thursday. It is the first major econ data to re-appear after the shutdown. Notably, that's because...
Mortgage rates were only modestly higher on Friday, but because of the narrow prevailing range and previous increases this week, that brings us right ...
Mortgage applications posted a modest increase last week, even as rates ticked slightly higher. According to MBA’s Weekly Applications Survey for the ...
Steady Gains Throughout The Day
Bonds began the day in modestly weaker territory although MBS were fairly quick to get back to 'unchanged' while 10yr Treasuries couldn't duplicate that feat until the afternoo...