Unfortunately, we don't have a great way to measure all of the past precedents, but it's safe to say that the this was one of the least volatile weeks...
While the future can't ever be known, this week's base case was for lower volatility, and a general sideways drift heading into the long weekend and b...
Here’s a tip of the day for anyone manning a conference booth: instead of a pen, or mouse pad, how about a locally made treat? Hats off to Aimee, Bobb...
There are probably only a few 4-day streaks with effectively no movement in mortgage rates, and this is one of them. After falling to 6.91% last Frid...
There are no significant economic data on tap today. The only notable event is the 7yr Treasury auction (the last of the week) and it's a bit of a st...
Could anything be better than Krispy Kreme coming to McDonalds! Yes! The new HMDA data is here! (More of a more serious note below.) Whether donuts or...
The Mortgage Bankers Association said its Market Composite Index moved lower last week, apparently indifferent to a slight improvement in mortgage int...
After moving back under 7% last week (conventional, 30yr fixed, top tier scenario), mortgage rates have been increasingly unlikely to move. Today was...
Sales of newly constructed homes were virtually unchanged in February. The 662,000 seasonally adjusted annual units recorded in during the month was d...
Welcome to day 4 of our unofficial 9 day weekend with limited data and volatility ahead of an actual 3.5 day weekend. Is data truly limited if we hav...
As conjecture swirls about the economic impact of the collapse of the bridge in Baltimore, did you ever notice that when you put the two words "The" a...
Mortgage rates enjoyed a decently strong week last week, with the average top tier conventional 30yr fixed rate moving down to 6.91% by Friday from 7....
Monday marks the start of a holiday-shortened week (early close on Thursday and fully closed on Friday) and the beginning of a week that will conclude...
Here in Louisville, KY, at the TMC event, this one is making the rounds. “What does a real estate agent’s wife say if she can’t sleep? ‘Honey, tell me...
As the broader market continued rubbing its eyes in disbelief over the Fed's exceptionally calm attitude on inflation, bonds continued to improve toda...
Rather than easing back from the January level as expected, existing home sales shot significantly higher in February, The National Association of Rea...
In the current regime of bond market movement, traders have been running from one side of the field to the other in an attempt to get in on the action...
I saw a sign recently: “Psychic Fair Cancelled Due to Unforeseen Circumstances.” No one can see into the future, or can read minds, and communication ...
It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality. To be fair, it's not that Freddie i...
The global trading community digested yesterday's Fed events in a relatively constructive way overnight. Combined with lackluster manufacturing PMIs ...
“90 percent of bald people still own a comb; they just can't part with it.” Many companies that retained servicing in 2020 and 2021, complete with low...
The rate market was intently focused on today's announcement from the Federal Reserve. While many news headlines emphasize the Fed "holding rates ste...
Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have moderated since early last year but remain remai...
The Fed finds itself in an increasingly uncomfortable situation where the market has witnessed several successive months of inflation data that refuse...
Anyone wonder what happens after someone steps away from mortgage banking? Well, after exiting Ellie Mae/ICE, Jonathan Corr finds himself involved in ...
After rising a cumulative 17 percentage points over the prior two weeks, mortgage application volume slowed slightly last week. The Mortgage Bankers A...
Mortgage rates were roughly unchanged on Tuesday, capping a short but meaningful losing streak over the past 6 business days. During that time, the av...
While there are several ways in which the trading environment of the past few years is more exciting than normal, it comes with one notable caveat: on...
Builder confidence rose for the fourth straight month and residential construction stats may now be trying to catch up. Both construction permits and ...
One never knows what one will learn at a mortgage event, like yesterday learning from Lender Toolkit’s Alex K. that Collinsville, Illinois has the lar...
Rates marched higher to the highest levels in March today, but most lenders are only microscopically worse off than Friday afternoon. In the slightly...
Lenders are refinancing borrowers who took out intermediate ARMs 3, 5, or 7 years ago and whose rates have gone up. Some here in Las Vegas, walking ar...
Ceilings, floors, pivot points, etc. Technical levels don't predict the future, but they can provide context for trends. In some cases, they can ser...
Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2...
Just once, I want a username and password prompt to say, “Close enough.” Speaking of technology, this weekend Robbie and I head to Las Vegas for the I...
This morning's line-up of econ data is certainly not the most relevant to the bond market, but the NY Fed Manufacturing index has registered an impact...
Even though Tuesday's consumer-oriented inflation report (CPI) had the biggest potential to cause drama for rates, it was today's wholesale inflation ...
Apart from Tuesday (CPI day), today is this week's next biggest deal in terms of scheduled economic data. The trifecta included Jobless Claims, PPI, ...
Fun with numbers: Did you know that, at age 22, Billie Eilish has won twice as many Oscars (2) than 80-year-old Martin Scorsese (1)? (And yes, Samuel ...
Some Month-End Volatility Late in The Day
Yields were near 2 week lows 2 hours before the final trades of the day, but rose several bps after that. The initial gains were driven mainly be economic data ...