The news on mortgage rates has been frustratingly mixed recently, depending on the source. This is a factor of the various time frames and methodologies employed by different purveyors of rate data. If you're reading this, however, none...
As is the case for the monthly data on New Home Sales from the Census Bureau, the National Association of Realtors (NAR) Existing Home Sales report does not make for exciting news these days. It's not that the news is tragic or alarming...
The Census Bureau released March New Home Sales data this week, and it was near the best levels seen since early 2022. Before you get too excited about that, a caveat is in order. Simply put, when it comes to housing market...
What if your client called the CFPB about a servicing issue, or any issue, and no one answered? Things are changing, but for a thorough write up on the current situation, check out Debra Gaveglio & Donna Schmidt’s “Harmonizing...
Today's only scheduled economic report is Consumer Sentiment. Nonetheless, we would classify today as being "data free" because this is simply the final reading of the preliminary release 2 weeks ago. It's the preliminary release...
Solid Bond Rally For Debatable Reasons Bonds improved moderately well overnight and added to those gains steadily during the domestic session. Ask 10 traders why and you might not get 10 different answers, but it would be at least...
Mortgage rates continue the slow, bumpy process of healing from the rapid rise seen 2 weeks ago. Last week was a solid victory in that sense with rates moving steadily and meaningfully lower without any major rebounds. The present week...
What's "normal" for the bond market? That depends how far back you want to look. Starting in late February, we had about a month of mostly sideways movement in a relatively narrow range as we waited for clarity on new fiscal...
“I hate it when I see an old person and then realize we went to high school together.” Nothing lasts forever, not top lenders or even computer companies. We may reach the point where only old people remember Tandem Computers, Commodore...
So you want to buy a house but already own. These are your options. Many current homeowners would like to sell their home and trade up or down but aren’t sure how in this competitive Real Estate market. If you’re not feeling stuck...
Bonds Lose Almost All The Gains After Inflation Warnings in The Data Bonds started out sharply stronger today after Trump walked back previous comments on Fed Chair Powell. Headlines regarding lower tariffs for China also helped, but...
Mortgage rates are an extension of the financial market, so it's no surprise that they've been more volatile than normal over the past few weeks as markets react to fiscal headlines. The latest dust-up involved Trump's criticism of Fed...
“I won a million dollars and donated a quarter of it to charity! I now have $999999.75 left.” Money can be funny… or not. In the past, a “flight to quality” or “flight to safety” didn’t involve feckless investors searching for a place to...
Two factors had been contributing more than others to drive bond yields higher as of yesterday. The broader, ongoing factor is/was the tariff/trade stand-off with China. Whether approached through the lens of inflation or decreased...
Broadly Sideways Despite Intraday Volatility Shorter term bonds lost ground today while longer term bonds and MBS managed a modest victory. While this isn't really a victory considering the mixed performance, it was better than a...
In not so many words, last week's thesis was that "no news was good news" for mortgage rates. Specifically, an absence of major, unexpected developments on the topic of tariffs and trade helped the underlying bond market retrace...
“My boss pulled up in his brand-new BMW today and I couldn’t help but admire it. “Nice car,” I said as he got out. “Well,” he said, noticing my admiring looks, “Work hard, put the hours in, and I’ll have an even better one next year.” A...
If there was an overriding theme last week, it was that the absence of new tariff drama helped the bond market recover some of the previous week's weakness. While it wasn't exactly tariff drama, yesterday's "Trump vs Powell" headlines...
Unfortunate Market Movement For Unfortunate Reasons Global financial markets partook in a slow motion train wreck on Monday as investors shunned USD-denominated assets and the dollar itself in response to Trump's vocal criticism of Fed...
Last week was a hopeful one for interest rates. The average top tier 30yr fixed mortgage rate fell more than 0.20% from the previous week's highs as underlying markets took some solace in the absence of major trade war escalations....
In the 1980s I fell off my bike and hurt my knee. I'm telling you this now because we didn't have social media then. It doesn’t take social media to know that the S&P 500 is down 10 percent for the year, but fortunately “the stock...
Heading into last week, we expected to be waiting until after the holiday weekend to get a better sense of the prevailing tone in financial markets. If the week of April 7-11 represent tariff-driven panic, last week offered some hope...
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...
The S&P 500 index hit a record high on Monday, as strong U.S. retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks....( read more ) Forward this article via...
Today, in the CalculatedRisk Real Estate Newsletter: Final Look at Local Housing Markets in November Excerpt: This update adds Charlotte, Columbus, Miami, New York, and Phoenix. ... Here is a summary of active listings for these housing...
Tracking existing home inventory is very important in 2022 . Inventory usually declines sharply over the holidays - so we will likely see new record lows next week . Click on graph for larger image in graph gallery. This inventory graph...
Today, in the Real Estate Newsletter: Lawler: More on Investor Purchases of Residential Homes: Pretium Brief excerpt: "In a report last month, I wrote about how data from Redfin and CoreLogic indicated that there had been a surge in...
Here is a review of the Ten Economic Questions for 2021 Below are my ten questions for 2022. These are just questions; I'll follow up with some thoughts on each of these questions . The purpose of these questions is to provide...
Treasury yields fell on Monday, 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 want to read it.
The number of Americans filing new claims for unemployment benefits held below pre-pandemic levels last week as the labor market tightens, while consumer spending increased solidly, putting the economy on track for a strong finish to...
Today, in the Real Estate Newsletter: New Home Sales: Record 110 thousand homes have not been started Brief excerpt: Sales, year to date in 2021, are 6.5% below sales in 2020, and new home sales in 2021 will finish solidly below sales in...
NAR expects the demand for commercial real estate to strengthen in 2022 given the strong underlying demand fundamentals in the core property markets....( read more ) Forward this article via email: Send a copy of this story...
UK Finance has hired Lord Macpherson of Earl’s Court as a director. Macpherson will lead on private banking in his new role. He joins 19 other representatives on the UK Finance board, covering the retail, SME, wholesale and consumer...