Mortgage News Daily
- Underwhelming (But Friendly) Conclusion June 20, 2025Underwhelming (But Friendly) Conclusion The present week didn't manage to offer nearly as much excitement as the previous few examples, but that's not necessarily a bad thing considering yields/rates are near the lower boundary of their recent ranges. Today looked like it may have been a higher rate day at the start of the session, […]
- Housing Starts Slide in May, But Single-Family Holds Steady June 20, 2025The latest Residential Construction report from the Census Bureau showed a noticeable drop in overall housing starts in May, though single-family activity managed a small gain. Building permits also declined, continuing a trend of slight cooling in new construction momentum. As usual, the market focuses most on building permits and housing starts , with the […]
- Mortgage Applications Slip Despite Lower Rates June 20, 2025Mortgage application activity declined modestly last week despite a drop in rates, according to the Mortgage Bankers Association’s (MBA) latest survey. The Composite Index fell 2.6% on a seasonally adjusted basis for the week ending June 13, with both purchase and refinance activity posting week-over-week declines. “Even with lower average mortgage rates, applications declined over […]
- Homebuilder Sentiment Just a Bit Gloomier June 20, 2025Builder sentiment declined for the second straight month according to the National Association of Homebuilders (NAHB) and Wells Fargo's latest Housing Market Index (HMI). The headline index dropped two points to 32 in June, marking another step down toward the post-pandemic lows seen in 2023. All three components of the index moved lower: Current sales […]
- Mortgage Rates Hold Steady June 20, 2025With Thursday being a federal holiday, banks (and more importantly, the underlying market for mortgage related bonds) were closed. This means that lenders were not able to update mortgage rates. It turns out that it wouldn't have mattered either way as the average lender has barely budged from Wednesday's levels. But let's not miss an […]
- Digital HELOC, Appraisal Review Products; Background AI; Hurricane Season is Here; Rates Holding Steady June 20, 2025Happy Summer Solstice, and happy 50th birthday to the movie Jaws. Back then, for security, all we had to remember was where we hid our house key, or the combo to the lock on our school locker. Now, our dozens of logins and passwords are regularly either forgotten or stolen, the latest being 16 billion […]
- Unofficial 4 Day Weekend June 20, 2025Much like the Friday after Thanksgiving, we have to wonder what the point is of a trading session without any neighbors (there's actually some guiding principle in setting holiday closures that there should not ever be more than 2 consecutive weekday closures). Much of the market treats such Fridays as the unofficial second day of […]
- Fed Threads Needle of Apathy June 18, 2025Fed Threads Needle of Apathy Today marked one of only 4 days of the year with an updated Fed dot plot. When it came out, there was a fairly pitiful volume response relative to other dot plot days and an even more underwhelming level of volatility in the bond market. It wasn't until almost 45 […]
- Remarkable Absence of Mortgage Rate Volatility June 18, 2025It happens, but it's rare. A Fed "dot plot" day has come and gone with mortgage rates almost perfectly unchanged from the previous day. This speaks to the level of indecision not only in the market, but also among Fed members. First off, what's a "dot plot day?" The dot plot (or simply, "the dots") […]
- Here's What Changed in The New Fed Announcement June 18, 2025Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, remains low, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and […]