Mortgage News Daily

• More Help From Stocks, But More Reluctance From Bonds March 10, 2025
  More Help From Stocks, But More Reluctance From Bonds Up until just after 3pm ET, the stock market was on pace for its worst day of the recent selling spree in terms of day-over-day losses, but a rebound looks to be underway in the final hour of the NYSE session. The swan dive gave us […]
• Mortgage Rates Recover Some of Last Week's Losses March 10, 2025
  Conventional 30yr fixed mortgage rates hit their lowest levels in months last Tuesday morning, with the average lender right in line with levels from mid October or early December. After that, rates rose steadily for the next two days and leveled off on Friday. While the bounce was small enough to leave a vast majority […]
• HELOC, Processing, Compliance Tools; Rocket Buying Redfin; FHA/VA News; Recession Fears Increasing March 10, 2025
  “Depression is merely anger without enthusiasm.” People flying around the nation have probably observed, or have heard, a change in the mood of airport security screeners. It turns out that the Trump Administration outlawed unions at TSA. Change is afoot. In my recent travels around the country, it is clear that LOs have adapted their […]
• Bonds Shaking Off Last Week's Weakness as R Word Returns March 10, 2025
  Over the weekend, Trump was asked if he was expecting a recession this year. He replied that although he hates to predict such things, "there is a period of transition, because what we're doing is very big." There are a few ways to read that response, but one of the least debatable is that the […]
• Bonds Give Up AM Gains After Powell Speech March 7, 2025
  Bonds Give Up AM Gains After Powell Speech Bonds made it through the jobs report in good shape with modest gains intact heading into the PM hours. Things changed after that, with the most obvious turning point coinciding with Fed Chair Powell's speech.  If traders had been hoping to hear Powell express some concern over […]
• Mortgage Rates Back Near Yesterday's Levels After Starting Out Lower March 7, 2025
  The average mortgage lender was briefly able to offer noticeably lower rates this morning compared to yesterday's latest levels. Credit goes to this morning's jobs report for coming in a bit weaker than expected. What do jobs have to do with rates? Rates are based on bonds and bonds are heavily influenced by the state […]
• Big Bounce in Refi Demand Thanks to Lower Rates March 7, 2025
  As we noted last week, the timing of the improvements in mortgage rates meant that the previous survey of mortgage applications from the MBA was unable to capture what would likely prove to be a fairly big uptick in refinance demand.  This week's data confirmed it as the refi index jumped to the best levels […]
• Construction Appraisal, Verification, HELOC Products; Webcasts and Training; Jobs Data as Expected March 7, 2025
  “If you boil a funny bone, it becomes a laughingstock. Now that's humerus.” What isn’t humer…, uh humorous, is a) most states losing an hour Sunday morning, and b) why rates are going down. The word “stagflation” is creeping into analyst’s missives. Mortgage rates and U.S. Treasury yields have fallen amid expectations of a trade-induced […]
• Mixed Jobs Data Making For Slightly Stronger Start March 7, 2025
  Today's jobs report was a mixed bag with the most important number also being the most boring.  Headline job creation came in at 151k vs 160k, which is so close as to not even matter. As a result, bonds lost some ground in the first few minutes after the data. Other parts of the report […]
• Decent Recovery as Sentiment Swoons Ahead of Jobs Report March 6, 2025
  Decent Recovery as Sentiment Swoons Ahead of Jobs Report Bonds have made it to Friday's jobs report without a meaningful extension of the corrective sell-off that began 2 days ago. That wasn't a given in the middle of today's trading session. Lutnick's comments on tariff exemptions fueled a risk-on move (buy stocks, sell bonds) in […]