Mortgage News Daily
- Bonds Doing What Bonds Do October 28, 2024Bonds Doing What Bonds Do Another week, another chance for bonds to do the only thing it seems like they know how to do recently: sell off. It actually didn't look like a foregone conclusion this morning. Bonds were only slightly weaker overnight and managed to move into positive territory in the first hour and a […]
- Mortgage Rates Back to 7% October 28, 2024It's no mystery that mortgage rates have had a terrible October. As of last Friday, the average lender's top tier 30yr fixed rates were up to 6.90--an increase of more than 0.625% this month. Today's 0.10% increase brings the rate index up to 7.0% exactly which is the highest we've seen since July 10th. The […]
- Lead Recapture, Non-QM, Servicing, Commercial Tools; MBA's Future Leaders Program Opens; LO Jobs October 28, 2024Thousands of lenders and vendors braved the gate lice to fly to Denver (the term for people who crowd around the gate at an airport, sometimes in an attempt to board early). Critics of Denver will tell you that it is “Kansas with a view of the mountains.” Heard in the hallways here in Denver… […]
- Here Comes The Data (Starting Tomorrow) October 28, 2024After 2 frustrating weeks spent moving toward higher yields without any major justification from the economic data, things are about to change. From here on out, the move toward higher yields will be justified by the data. The other option is that yields could actually recover a bit if the data comes in weaker than […]
- Stronger Start, Weaker Finish October 25, 2024Stronger Start, Weaker Finish Bonds had a fine morning with overnight gains bringing yields in line with the lowest levels of the past few days within the first 2 hours of domestic trading. From the 9:30am NYSE open on, bonds began moving in the other direction. There were no individual, new catalysts for the weakness, […]
- Mortgage Rates Effectively Unchanged Yet Again October 25, 2024Mortgage rates reached their highest level of the week on Wednesday and haven't really moved since then. Technically each subsequent day saw a microscopic reduction in the average top tier 30yr fixed rate, but the average borrower would likely be seeing the same quote all three days. This flat trajectory contrasts sharply with the first […]
- Ginnie Investor, HELOC, Broker, Correspondent, Climate Education Products; New Home Sales Numbers October 25, 2024“A herd of cows broke into a Colorado weed farm. Police and animal control are on the scene, and the steaks are high.” This will be the last day in the office for thousands of people heading to Denver this weekend for the MBA’s Annual Convention and Expo. Printers are churning out schedules, neckties are […]
- Another Flat Start After Uninspiring Data October 25, 2024Granted, we were by no means looking for big things from this morning's Durable Goods data, but somehow it still managed to underwhelm. That's not saying much for Durable Goods considering the core category (which excludes defense spending and aircraft) rose much faster than expected. If this was a report that mattered, bonds would have […]
- Better Balance, Finally October 24, 2024Better Balance, Finally In the context of the first 3 days of the week, bonds pulled off a miracle today. Most of the yield curve managed to remain in positive territory despite both of this morning's key economic reports coming in stronger than expected. Markets were definitely willing to trade that data as both reports […]
- Mortgage Rates Finally Win One, Albeit a Small One October 24, 2024Mortgage rates have risen every day since October 15th and some of the jumps have been fairly big. That followed an even bigger increase earlier in the month with the whole ordeal accounting for a 0.72% increase in 30yr fixed rates since October 1st. Today's trading session offered a break from the recent trend with […]