The refinance share of originations in November remained at 53 percent for the third month even though the average interest rate on 30-year fixed-rate mortgages increased 14 basis points over that period. ICE Mortgage Technology’s...
While rates continue higher, from South Carolina comes, “I just got 30 minutes of cardio trying to pick up an ice cube off the kitchen floor.” Plenty of folks on the East Coast are dealing with other kinds of ice (we all know how 2...
In the past 2 weeks, press coverage of the Federal Reserve's policy outlook has ramped up significantly. The Fed is now expected to start hiking rates in March and to hike more than previously expected in 2022. If you think that gives...
Friday's Sell-Off Makes Rest Of The Week Look Like a Trap Over the past 2 days, we've pondered the fate of this week's sideways-to-slightly-stronger trend in the bond market. Would it be the start of a correction that took yields...
Friday is not shaping up to be a great day for the mortgage bond market. Our benchmark guidance giver of choice (10yr yield) is in the midst of a potential technical bounce at 1.70% after breaking into the 1.69's after hours...
ATTOM says that foreclosure activity in the year just ended was at the lowest level since the company began tracking it in 2005. Foreclosure filings, including default notices, scheduled auctions, and bank repossessions or completed...
It’s Friday, things have slowed down a little bit, and I appreciate you taking a break from Wordle to check out today’s Commentary. Here’s a riddle: What’s bad when it is down, just right when it’s a little, and bad when it is too much?...
Just Enough of a Rally to Keep Things Interesting Coming into the day, we were pondering the fate of this week's friendly little correction. Rates had done a good job of pushing back against last week's spike, but was that destined...
In almost every case, a day of bond market improvement results in rates moving lower. That makes sense considering mortgage rates are based primarily on bonds. But there are days when the correlation breaks down. Today...
2022 is already off to an “interesting” start. Going directly to the borrower , normally the role of brokers, lenders, MI companies, and other mortgage education sources, Fannie Mae announced that it has launched HomeView™, the company’s...
Whether we refer to it as a correction or consolidation, bonds have enjoyed a few days of moderate gains after selling off abruptly last week. Today's trading will go a long way toward solidifying the definition of this move. ...
Mixed Signals in Data, Events, and The Market Reaction. The hotly anticipated CPI data came in roughly in line with expectations. Bonds and stocks both rallied initially but then asked themselves why they would rally considering...
Interest rates are typically determined by bond market. Mortgage rates, for instance, are directly tied to mortgage-specific bonds know as mortgage-backed securities (MBS). MBS tend to move a lot like US Treasuries despite...
Most people are paid wages… will raises keep up with an annualized inflation rate of 7 percent? Others may receive a large payout from the sale of their company. Want to sell your mortgage vendor company to a VC firm, or receive private...
Yesterday's resilient trading day strengthened the case for a corrective (or consolidative ?) bounce after last week's big yield spike. Traders (and especially non-trading market pundits) put a lot of stock in this morning's CPI...
There was a small uptick in purchase mortgage activity during the first week of 2022. Refinancing held its own despite significant increases in interest rates. The Mortgage Bankers Association (MBA) said its Market Composite Index, a...
2022 has gotten off to a bad start for the bond market and consequently, mortgage rates. The pace has been on the aggressive side with the average lender seeing an increase of more than a quarter of a point in a week and 3/8ths of...
Is it Time To Get Excited About a Bounce? As per the recent norm, bonds were fairly flat overnight and began selling off in domestic trading. The losses were fairly minimal, but MBS underperformance was annoying. Traders were...
Mortgage credit loosened a bit last month but the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) which measures credit access remains well below pre-pandemic levels which often topped 180. MBA says the...
The National Association of Home Builders (NAHB) says that, after a few months of moderating lumber prices following the a rapid runup in early spring, those prices are soaring again . In a recent post on its NOW blog, the association...
The S&P 500 edged lower after hitting a record intraday high on Tuesday, as a four-day rally lost steam in thin trading and investors eyed Omicron-driven travel disruptions and store closures....( read more ) Forward this article via...
Today, in the CalculatedRisk Real Estate Newsletter: Case-Shiller National Index up 19.1% Year-over-year in October Excerpt: Both the Case-Shiller House Price Index (HPI) and the Federal Housing Finance Agency (FHFA) HPI for October were...
The S&P 500 was on track to open at all-time highs on Tuesday, building on a record-setting rally amid thin trading volumes, with investors unshaken by Omicron-driven travel disruptions and store closures....( read more ) Forward...
S&P/Case-Shiller released the monthly Home Price Indices for October ("October" is a 3-month average of August, September and October prices). This release includes prices for 20 individual cities, two composite indices (for 10...
U.S. Treasury yields are slgihtly higher Tuesday after the long holiday weekend as investors assessed the omicron threat....( read more ) Forward this article via email: Send a copy of this story to someone you know that may...
Today, in the Real Estate Newsletter: Question #10 for 2022: Will inventory increase as the pandemic subsides, or will inventory decrease further in 2022? Brief excerpt: Earlier I posted some questions on my blog for next year: Ten...