Mortgage News Daily
- Bonds Dial Back Ahead of Big Jobs Report June 5, 2025Bonds Dial Back Ahead of Big Jobs Report It was a fairly interesting day for bonds, relative to the calendar of scheduled events. Domestic econ data was unimportant and markets traded accordingly from 8:30-8:45am. At that point, the European Central Bank announcement hit the wires and the takeaway was fairly hawkish, despite the rate cut. […]
- Mortgage Rates Little Changed, But Friday Could See a Bigger Move June 5, 2025Mortgage rates began the day perfectly in line with yesterday's latest levels for the average lender. By the afternoon, the underlying bond market had lost enough ground that a handful of lenders were forced to issue mid-day reprices thus taking the average just a bit higher. Unlike the past few days, there wasn't a highly […]
- Hedging, Reverse 2nd Lien, HELOC, Borrower Portal, Broker, 2nd Mortgage Products; Florida Insurance News June 5, 2025The last time I was in Florida I saw a bumper sticker that said, “I thought growing old would take longer.” This weekend I return to the Sunshine State (the MBAF’s Eastern Secondary is coming up), and I mention this because the state is the epicenter of HOA fee escalations, hurricane damage, and insurance woes. […]
- Bumpy Start; Data Overshadowed by Other Events June 5, 2025Bonds began the morning in rally mode, even if not in an extreme way. Gains lasted for about 20 minutes before reversing. The shift was accompanied by slightly elevated volume, indicating a genuine underlying motivation. Fortunately, there are two good candidates to choose from. Unfortunately, it's hard to assign an exact amount of blame/credit to […]
- Big Bond Rally After ADP and ISM June 4, 2025Big Bond Rally After ADP and ISM We knew the onus was on weaker economic data to justify any decent drop in rates/yields and we know the first week of any given month has a high concentration of relevant reports and that today's slate is 2nd only to NFP day. Today's heavy hitters included ADP […]
- Biggest Daily Drop For Mortgage Rates in Over a Month June 4, 2025Whether or not today's drop in rates is meaningful depends on one's perspective, but in the context of recent rate movement, it's definitely noticeable. The simplest way to think about the improvement is as follows: the average lender is now about an eighth of a percent lower in just over a week. If we want […]
- MBS Pooling, HELOC, Verification Tools; Listings Hit All-Time High; Marginal Costs to Produce a Loan June 4, 2025As the world is watching the chicks learn to fly on the eagle cam, in the human world there are more “For Sale” signs. You know that problem we’ve had with inventory for years? Although all real estate is local, perhaps the inventory issue is over: U.S. home sellers are sitting on nearly $700 billion […]
- Weaker Econ Data. Lower Yields June 4, 2025It's been a fairly simple morning so far for the bond market. Both of the morning's key economic reports came in weaker than expected. In the case of ADP employment, that's fairly straightforward and fairly substantial (37k vs 115k f'cast), even though it's always worth remembering how inconsistent the correlation with NFP (Friday's big jobs […]
- JOLTS Data Didn't Help, But it Didn't Hurt Much Either June 3, 2025JOLTS Data Didn't Help, But it Didn't Hurt Much Either Bonds were moderately stronger overnight and then weaker after the 10am JOLTS data. The data itself was mixed with Job Openings higher (bad for rates) and job quits lower (good for rates). The headline took precedence and pushed yields back into higher territory on the […]
- Uneventful Day For Mortgage Rates June 3, 2025Sometimes a Tuesday is just a Tuesday for mortgage rates. In the present week, any day is capable of generating some volatility due to one of several economic reports on the calendar. This isn't always the case, but the first week of any given month is action-packed when it comes to data. Econ data is […]