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MBS RECAP: Might as Well Hit This Weekend With Some Hope
Blog 1 day ago
MBS RECAP: Might as Well Hit This Weekend With Some Hope

By today, it became clear that bonds were fully locked into a sideways consolidation in a range defined by the highs seen on Wed/Thu and the lows...

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Best Day of a Rotten Week For Mortgage Rates
Blog 1 day ago
Best Day of a Rotten Week For Mortgage Rates

Mortgage rates actually fell today, on average--something they haven't been able to say all week, or indeed at nearly any time during the past 4...

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MBS Day Ahead: Pain and Belief Radiating Across The Rate Spectrum
Blog 1 day ago
MBS Day Ahead: Pain and Belief Radiating Across The Rate Spectrum

More often than not, when I use the word 'believe' (or belief), it's in some vague and positive context.  For instance, something like 'bond buyers...

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MBS RECAP: Not a Win, But At Least It's Not a Loss
Blog 2 days ago
MBS RECAP: Not a Win, But At Least It's Not a Loss

After a series of demoralizing losses, it feels like some small victory for bonds to simply remain sideways today.  That wasn't necessarily a given...

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Mortgage Rates Trying to Stop The Bleeding
Blog 2 days ago
Mortgage Rates Trying to Stop The Bleeding

Mortgage rates were mostly able to hold steady today, although they technically moved just a bit higher and that technically leaves them at the...

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Existing Home Sales Level Out After Long Decline
Blog 2 days ago
Existing Home Sales Level Out After Long Decline

It was a disappointment, but at least it wasn't a loss. Existing home sales, which were expected to increase in August after four straight months...

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Vendor Mgt. and POS Products; Upcoming Events; Ask a Lender's Sunset?
Blog 2 days ago
Vendor Mgt. and POS Products; Upcoming Events; Ask a Lender's Sunset?

This Saturday is the autumn equinox – season-wise, we know what is on the way. “Rob, we, like everyone else, are watching the approaching winter,...

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MBS Day Ahead: Long-Term Trend is a Cheap Trick. Here's The Reality For Rates
Blog 2 days ago
MBS Day Ahead: Long-Term Trend is a Cheap Trick. Here's The Reality For Rates

One of the themes we often revisit in times of trouble is the long-term bull market in bonds.  This traces back to the 80's and provides a...

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August Loan Closing Rate Highest of Year
Blog 2 days ago
August Loan Closing Rate Highest of Year

The share of loans originated for refinancing rose in August for the first time this year.  Ellie Mae's Origination Insight Report shows that...

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MBS RECAP: Is It Over?
Blog 3 days ago
MBS RECAP: Is It Over?

The titular question could be taken two ways. Is the selling pressure in bonds over? Is the 'low rate environment' that's been in effect since mid...

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Mortgage Rates Knocking on 5% Ceiling
Blog 3 days ago
Mortgage Rates Knocking on 5% Ceiling

Mortgage rates are in bad shape.  At some point in the past 3 days (depends on the lender), top tier 30yr fixed rate offerings hit their highest...

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Home Starts Improve, but There's a Catch
Blog 3 days ago
Home Starts Improve, but There's a Catch

Both permits and starts were expected to pick up in August, at least holding on to their slight gains in July.  Housing starts did deliver, posting...

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LO Jobs and Resources; Direct Streaming Treasury Trading; What's Moving Rates?
Blog 3 days ago
LO Jobs and Resources; Direct Streaming Treasury Trading; What's Moving Rates?

I received this question from a well-known lender in Texas. “Rob, our company views loan processors as the unsung heroes of lending. We’re...

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Mortgage Apps Gaining Ground Despite Higher Rates
Blog 3 days ago
Mortgage Apps Gaining Ground Despite Higher Rates

Labor Day typically marks the end of summer and the resumption of business as usual.  Hopefully it also marked the beginning of a turnaround for...

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MBS RECAP: Bonds Tank as 2018 Fears Become Real Again
Blog 4 days ago
MBS RECAP: Bonds Tank as 2018 Fears Become Real Again

Remember early 2018 when the fear was compounded by this list of bad actors? increased Treasury issuance to pay for the revenue shortfall in the...

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Mortgage Rates Officially Highest in at Least 5 Years
Blog 4 days ago
Mortgage Rates Officially Highest in at Least 5 Years

Mortgage rates edged up to 4-year highs with yesterday's bond market losses and things went from bad to worse today.  Bond markets (which underlie...

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House-Hungry Millenials Help Keep Builder Confidence Solid
Blog 4 days ago
House-Hungry Millenials Help Keep Builder Confidence Solid

Builder confidence in the market for newly-built single-family homes stabilized a bit in September. The National Association of Home Builders (NAHB...

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MBS Day Ahead: Bonds Adrift on an Angry Sea of Red
Blog 4 days ago
MBS Day Ahead: Bonds Adrift on an Angry Sea of Red

Not to be confused with the Red Sea, which is an actual place, the sea of red in the title is merely a reference to general bias toward weakness in...

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MBS RECAP: Bonds Battle Back After Hitting Long-Term High Yields
Blog 5 days ago
MBS RECAP: Bonds Battle Back After Hitting Long-Term High Yields

10yr yields briefly hit their highest levels since May 23rd this morning after one large trade started a snowball sell-off in Treasuries.  Before...

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Mortgage Rates Match 7-Year Highs
Blog 5 days ago
Mortgage Rates Match 7-Year Highs

Mortgage rates may have had a fairly bad day last Friday, but today was worse.  Today officially saw the average lender back at rates not seen...

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Fannie Thinks Economic Expansion Just Peaked
Blog 5 days ago
Fannie Thinks Economic Expansion Just Peaked

robust growth in the economy in the second quarter may be the final peak of this expansion according to Fannie Mae's Economic Development Report...

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Downpayments Hit Record Levels
Blog 5 days ago
Downpayments Hit Record Levels

There were quite a few recent milestones, high and low, noted in the Quarter 2 Residential Property Loan Origination Report from ATTOM Data...

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MBS Week Ahead: Lighter Data This Week as Markets Position for Fed Next Week
Blog 5 days ago
MBS Week Ahead: Lighter Data This Week as Markets Position for Fed Next Week

September continues to be an unfriendly month for bonds, marked by an unfriendly trend that has carried yields almost exclusively higher.  Some of...

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MBS RECAP: September Trend is Not Your Friend
Blog 1 week ago
MBS RECAP: September Trend is Not Your Friend

August was nice.  September is mean... at least if you're a bond. Investors wanted you in August when it was still unclear whether or not Turkey...

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Mortgage Rates Jump to 4-Month Highs
Blog 1 week ago
Mortgage Rates Jump to 4-Month Highs

Mortgage rates had a bad day.  Even after a weaker reading on Retail Sales (something that normally helps), the bond market lost ground. ...

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Lower Priced Homes Driving New Home Sales
Blog 1 week ago
Lower Priced Homes Driving New Home Sales

While applications for financing new home purchases declined in August, the Mortgage Bankers Association (MBA) is predicting a bump in the month's...

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Trailing Doc, Tax, and Reverse Products; Vendor News; New Lender Programs
Blog 1 week ago
Trailing Doc, Tax, and Reverse Products; Vendor News; New Lender Programs

“Rob, the number of vendors at mortgage conferences seems to be growing. Any idea how many vendors (vs. lenders) there are?” I had no idea but...

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MBS Day Ahead: How Did We End Up In This Mess?
Blog 1 week ago
MBS Day Ahead: How Did We End Up In This Mess?

The question posed in the title is just a bit too big for us to cover in this humble 'day ahead' post, but we can touch on a few key points.  I...

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MBS RECAP: Bonds Refuse to Rally Big After CPI's Big Miss
Blog 1 week ago
MBS RECAP: Bonds Refuse to Rally Big After CPI's Big Miss

Bond markets were clearly interested in today's Consumer Price Index (CPI) data.  It generated a larger single minute of volume than the minute...

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Mortgage Rates Slightly Lower
Blog 1 week ago
Mortgage Rates Slightly Lower

Mortgage rates fell modestly today, following a weaker-than-expected report on inflation.  The Consumer Price Index (CPI) measures the change in...

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