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  • Boring Week For Bonds and Next Week Isn't Much More Promising October 11, 2024
    Boring Week and Next Week Isn't Much More Promising It's always a bit jarring to go from something like last Friday's jobs report response to a subsequent week with very little movement, but in the grand scheme of things, it may as well have been a 9 day weekend.  Actually, make that a 10 day […]
  • Mortgage Rates Side-Step Into Holiday Weekend October 11, 2024
    While this week's rates were substantially higher than most of last week's, if we remove a few flashes of volatility,  the average lender stayed very close to Monday morning's levels.  Wednesday afternoon and Thursday mid-day definitely saw multiple negative reprices, but in each case, the bond market recovered enough to limit the volatility.  Compared to […]
  • Loan Sale and Purchase Platform, HELOC, Automated Servicing Call Tools; November Events; Interview with Figure October 11, 2024
    Preparing for the next hurricane in Florida? Or Louisiana? Or Texas? Call this really smart or really humorous, it’s up to you. (And no, I don’t know how it fared.) We do, however, know how lenders and vendors are faring. Sure, headlines blared that rates were going down, but as we all know they went […]
  • No Whammies in The Data October 11, 2024
    When it comes to economic data with any real significance, today only offered two reports: PPI and Consumer Sentiment.  Neither have an especially stunning pedigree of market movement capability although both have inspired a decent amount of volatility on many occasions.  Today is not one of those occasions.  Both have come and gone.  Bonds remain […]
  • Bonds Turn Green Despite Plenty of Volatility October 10, 2024
    Bonds Turn Green Despite Plenty of Volatility It was touch and go in the mid-day hours as early stability (modest gains, even) gave way to steady selling.  Headlines from Fed's Bostic (he's not sure they'll need to cut again in Nov) caused yields to pop to the highs of the day just before the 30yr […]
  • Here's What's Really Going on With Mortgage Rates This Week October 10, 2024
    We can appreciate that the daunting task of determining what "the" actual mortgage rate may be at any given moment.  The word "the" is singled out in the previous sentence because there isn't one, perfect, singular, "going rate" for a mortgage.  There's a bell curve with most lenders near the center and a few outliers […]
  • Correspondent, Climate Products; TILA, RESPA, False Claims News; CFPB Takes Action October 10, 2024
    Hey, I like a good raccoon swarm as much as the next guy, but you couldn’t pay me to walk out there in that yard. Speaking of pay, a common question is how much how are LOs and managers paid, and STRATMOR’s blog is titled, “Lenders and Vendors Must Pay to Play.” Geographical differences have […]
  • Mixed Reaction to Mixed Data October 10, 2024
    At first glance, it looks as if the bond market will make it through Thursday morning without being too worse for the wear.  When the monthly core CPI reading flashed 0.1 higher than expected (0.3 vs 0.2), there were clearly some doubts.  Yields popped higher initially, but milliseconds later, Jobless Claims said "not so fast..." […]
  • Don't Expect Salvation From CPI October 9, 2024
    Don't Expect Salvation From CPI Bonds lost a bit of ground on Wednesday with Treasuries having a far rougher go of it than MBS, but not by much, ultimately.  If one had to guess at reasons for the MBS Outperformance on a Treasury auction week, blaming the Treasury auction cycle is the easiest solution.  In […]
  • Mortgage Rates Sideways to Higher October 9, 2024
    Today brought the release of the minutes from the most recent Fed meeting in addition to numerous Fed speeches and the scheduled auction of 10yr Treasuries.  Each of these events has at least some track record of causing volatility for interest rates, but none of them had an impact today. As for the Fed Minutes, […]