Mortgage News Daily
- Just as Underwhelming as Expected May 7, 2025Just as Underwhelming as Expected No sense in trying to manufacture excitement out of something boring. Even before Fed speakers went into the customary blackout period 12 days ago, it was already abundantly clear that they were all on the same page--a page of uncertainty in an uncertain chapter of an uncertain book. Nothing had changed […]
- Mortgage Rates Lower After Fed Announcement, But Not Because of It May 7, 2025There's nothing like a Fed announcement day to get almost every media outlet to run headlines that attempt to tie the day's market movement to the Fed's rate decision. The problem in today's case is that there wasn't even anything remotely resembling a decision, nor did anyone expect there to be. Markets were effectively betting […]
- Here's What Changed in The New Fed Announcement May 7, 2025Recent Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation […]
- DPA, AI, Processing, Verification Tools; STRATMOR Tech Survey; Interview on Fraud Threats May 7, 2025Most good loan originators are keenly aware of demographics in their area. Aren’t you tired of talking about a lack of inventory and builders’ supply lagging demand? Builders report that the number of unsold homes is the highest since 2009, and in Sunbelt MSAs, new homes are facing a lot of competition from existing homes […]
- Not Expecting Fireworks From The Fed May 7, 2025Wednesday begins with bonds battling back from modest overnight weakness (now moving into modestly stronger territory), but not for any particular reason. End of year Fed Funds Rate expectations have been almost perfectly flat so far this week after falling a quarter point in the last week of April, and then jumping more than a […]
- 10yr Auction to The Rescue May 6, 202510yr Auction to The Rescue Today's 10yr Treasury auction was the only relevant calendar event in terms of potential market movement and it lived up to its billing. Unlike the set-up to many auctions, there was no meaningful weakness in bonds ahead of the 1pm cut-off. The results themselves were decidedly strong and the immediacy […]
- Mortgage Rates Improve Slightly After Starting Out Flat May 6, 2025Mortgage rates were unchanged for the average lender this morning, thanks to a modest improvement in the bond market overnight. Rates were on course to remain mostly flat until the afternoon's scheduled 10yr Treasury auction. The market's reaction to the auction allowed many lenders to revise mortgage rates slightly lower. Mortgage rates are based on […]
- STRATMOR's Tech Survey Results; Commercial Appraisal, Non-QM Investor, Compliance Tools May 6, 2025This is the month of the MBA’s National Secondary in Manhattan. For some trivia, the nickname "The Big Apple" originated in the 1920s in reference to the prizes (or "big apples") rewarded at the many racing courses in and around New York City. However, it wasn't officially adopted as the city's nickname until 1971 as […]
- 2-Way Trading, Slightly Weaker Start May 6, 2025Bonds have been on both sides of unchanged so far today. The overnight session began with slightly higher yields followed by a gradual rally. By 9am ET, bonds were modestly stronger on the day. Some traders are focusing on German political developments with early indications that expected Chancellor Merz didn't have the votes to win […]
- Selling Spree Continues, But Gently May 5, 2025Selling Spree Continues, But Gently Bonds were focused on this morning's ISM Services Index with some traders waiting to see more evidence of economic fallout from tariff-related uncertainty. Instead, the index moved slightly higher and was rather uneventful by the time all sub-components were considered. Not enough fuel there for bond bulls, so the bears […]