Mortgage News Daily
- Ratio of Weakness to Confirmed Explanations is Off The Charts October 21, 2024Ratio of Weakness to Confirmed Explanations is Off The Charts Every year there are a few days where bonds move as if obviously inspired in spite of a distinct absence of obvious inspiration. Monday was one of those days. Sure, there are a few "best guesses" making the rounds, but all of them are fairly […]
- Rates Jump Quickly to Highest Levels Since July October 21, 2024By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we've gone from being fairly close to 6% in mid-September to being nearly as close to 7% today when it comes to top tier 30yr fixed scenarios for the average lender. Today's jump was particularly quick and […]
- Bonds Have a (Bad) Case of The Mondays October 21, 2024First off, there's no great explanation for the extent to which bonds are losing ground this morning. These days happen occasionally. Sometimes an elusive market mover becomes clearer later in the day. Other times, we're forced to rely on our best guesses. With that in mind, here's a quick catalog of usual suspects at times […]
- Broker Education, Reverse Mortgage, Credit Report, Warehouse Products; Disaster News October 21, 2024Sports have a lot of fans, and heroes. With only 10 days until Halloween, what a great time of year to be a sports fanatic. You never have to leave your den, or local sports bar, when football, baseball, basketball, and hockey are all on TV, and if you look around you can find golf […]
- Waiting Game Returns With Straightforward, Sleepy Friday October 18, 2024Waiting Game Returns With Straightforward, Sleepy Friday Bonds were technically a hair weaker in the overnight session, but even if they never improved from those levels, yields still would have been inside the prevailing range (4.0 to 4.12 in terms of the 10yr). As it stands, they did improve a bit, ultimately hitting 4.063 at […]
- Mortgage Rates Mostly Steady This Week After Uneventful Friday October 18, 2024There hasn't been much day to day movement in mortgage rates after the big jump caused by the jobs report earlier in the month. That jump ended on Monday the 7th and the average 30yr fixed rate hasn't moved more than 0.06% since then. For context, we wouldn't consider a short term move to be […]
- Mixed Signals in New Home Construction Data October 18, 2024While this technically signals some cooling in new construction potential, it wasn't much more of a drop than investors expected. Moreover, there has been a gradual cooling trend intact for more than 2 years. That's not as ominous as it sounds considering construction activity is still higher than it was in mid-2019. Housing starts, which […]
- Digital LOS, Marketing Automation, Realtor Strategy Tools; FHA and VA News; Partner Opportunity October 18, 2024A while back I parked my car outside a government office building in Sacramento. "Sir, you can't park here," said a cop. "This is where our politicians work." "Don't worry, I've locked it." Here at the Banner Bank sales conference in Vancouver, someone suggested that if it weren’t for the presidential election (don’t expect to […]
- In The Absence of Data, No Need For More Selling October 18, 2024While the recent trend has been unpleasant for the bond market, at least it's logical. Apart from some uncertainty related to the election and forthcoming Fed meeting, data drives all (to be fair, data drives the Fed as well). Thursday brought the week's biggest supply of data with all the big reports being stronger than […]
- Fairly Big Sell-Off, But Last Week's Range is Intact October 17, 2024Fairly Big Sell-Off, But Last Week's Range is Intact Bonds dealt with a trifecta of unfriendly economic data today with slightly stronger Retail Sales leading the charge. Jobless claims and Philly Fed certainly didn't help. In the desert of data that exists between each month's jobs reports, only a handful of days stand out as […]