RSS Mortgage News Daily

  • The 11-Day Weekend is Now Official May 24, 2024
    The 11-Day Weekend is Now Official If there was one objective hurdle to clear in order to consider the present week completely uneventful in terms of big picture rate momentum, it would have been that the 10yr Treasury yield hold inside the 4.34 - 4.50 range.  Thanks to today's friendly revision in consumer inflation expectations, the […]
  • Mortgage Rates Are Actually Higher This Week May 24, 2024
    It was largely a dull week for financial markets in terms of scheduled data and volatility, but numerous Fed speeches helped reiterate what the market thought it already knew.  Specifically, whereas there was widespread belief in several rate cuts in 2024, the market now only expects 1.  The following chart shows the market's expectations for the […]
  • Broker Products; Legal Thoughts on Dual Licensing; Agency and Investor News; Interview With Tour de France Rider May 24, 2024
    "Abandon all hope ye who enter here." (Dante’s words, not Disney’s.) That could be the slogan of Times Square, but for those who just spent days at the Secondary conference in Times Square, trying to avoid everything in Times Square, you can look forward to the same event at the same place in the same […]
  • A Great Case For Durable Goods Irrelevance May 24, 2024
    If there were any remaining doubts regarding the relevance of Durable Goods as a big ticket market mover, they are put to rest by the absence of a discernible reaction despite a very big beat. In other words, +0.7 vs -0.8 is significant, but the market movement has been nil. Granted, the negative revision to […]
  • Sleepy Bonds Rudely Roused by Surprisingly Strong Econ Data May 23, 2024
    Surprisingly Strong Surge in Services PMI Tests The Range Perhaps fate was tempted by our persistent focus on this week's absence of big ticket market movers.  Or perhaps this is simply the biggest possible reaction to one of the week's only potential market movers coming in MUCH higher than expected.  After all, the mantra has […]
  • Mortgage Rates Jump to 2-Week Highs After Hotter Economic Data May 23, 2024
    For the most part, the current week is sorely lacking in the sort of scheduled economic data and events that typically contribute to exciting movement in the interest rate world.  This morning's report on the services sector offered one of the only potential exceptions.  For those looking for at least a little excitement, the data […]
  • Hedging, TPO, ROV, Fee Collection Tools; STRATMOR on Bank Strengths; Training and Webinars May 23, 2024
    Some people say, “You’re crazy to stay in residential lending in this environment, and it’s not going to improve dramatically in the near future.” No, this is crazy. Owners of vendors and lenders who are barely eking by, or losing money quarter after quarter, aside, there is plenty of sanity remaining. Given what I heard […]
  • Super Sideways Overnight and Little-Changed After Jobless Claims May 23, 2024
    It's day 6 of the increasingly famous 11-day weekend (1 normal weekend plus the 3 day Memorial Day weekend and the 5 days in between without any big ticket market movers on the calendar).  There was no way to know for sure that this week would be as flat and uninspired as it has been, but here on […]
  • No Major Reaction to Fed Minutes May 22, 2024
    No Major Reaction to Fed Minutes Today's only event that has any precedent of inspiring rate volatility was the release of the minutes from the Fed meeting that took place 3 weeks ago.  The fact that 10yr Treasury yields held roughly inside a 1bp trading range after the release tells us everything we need to […]
  • Mortgage Rates Feeling Uninspired as The Market Waits For Bigger News May 22, 2024
    It was another slow day for the mortgage market and one that joins a list of several other relatively inconsequential days in the past few weeks.  This is a byproduct of the bond market (bonds dictate rate movement) being tuned in to only a few key economic reports and events.  When these reports actually come […]