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Real Estate News
Time to Hurry Up and Wait Again
Fri, 12 Apr 2024 21:04:01 GMT

Time to Hurry Up and Wait Again Friday ended up being reasonably pleasant, but mostly uneventful.  Gains were in place from the overnight session on a combination of European economic data and central banker..[read more]

Mortgage Rates Move Lower After 2-Day Rout, But Underwhelmingly So
Fri, 12 Apr 2024 20:54:00 GMT

Wednesday was one of the worst days in decades in terms of single-day upward movement in mortgage rates.  Thursday added a bit more insult to the injury.  The resulting levels were the highest since November 2023.  We should be thankfu..[read more]

Home Equity Processing, Del and Non-Del, TPO, Rate Reset Products; Government Program Updates
Fri, 12 Apr 2024 15:24:49 GMT

When I win the lottery, I am going to buy one of these to heat my blankets at home. Of course, that would mean that I will have to start playing the lottery, so until then I'll just have to rely on my cat Myrtle to prep things. Just because you own a..[read more]

Much Stronger Start With Bonds Following Gains in Europe
Fri, 12 Apr 2024 14:22:01 GMT

Bonds began the overnight session in modestly stronger territory but the gains started adding up in earnest after European markets opened for the day.  A slew of respectable inflation readings and another survey on inflation trajectory helped ju..[read more]

About as Uneventful as it Could Have Been
Thu, 11 Apr 2024 20:39:06 GMT

About as Uneventful as it Could Have Been Any time we have a huge day of movement, regardless of the reason, the odds of bigger movement increase for the following days.  Today was especially tense because t..[read more]

Mortgage Rates Are Actually The Highest Since Mid November
Thu, 11 Apr 2024 20:14:00 GMT

Wednesday's Consumer Price Index caused a brutally fast spike in mortgage rates.  It wasn't notable for taking us to exceptionally high levels (October 2023 was much higher), but it was one of the biggest single-day jumps.  Either way, it e..[read more]

Mixed Start, Modest Weakness, But No Major Follow-Through
Thu, 11 Apr 2024 16:10:10 GMT

After a day like Wednesday (one of the top 20 weakest bond market days of the past few decades), one of the top concerns is that the following day will see follow-through selling.  Indeed, there are many examples of such days catalyzing a new tr..[read more]

Hedging, Fee Collection, VOIE, Valuation, Analytics Tools; Webinars and Training Through Next Week
Thu, 11 Apr 2024 15:35:30 GMT

The next time you complain about your job, just be thankful you're not working at Cinnabon. (Excuse the language.) Did you know that tomorrow is "Take your underwriter to work day'? Okay, I just made that up. If life could be so simple and everything..[read more]

Basically The Worst Day For Mortgage Rates Since October 2022
Wed, 10 Apr 2024 20:23:00 GMT

Mortgage rates surged at a pace seen only one other time since October 2022.  The average lender moved up by 0.28%, which is functionally equivalent to the 0.29% seen after the February 2nd jobs report.  In fact, today was arguably worse be..[read more]

A Really Bad Day For The Bond Market
Wed, 10 Apr 2024 20:16:58 GMT

A Really Bad Day For The Bond Market To reiterate the point made in today's morning commentary, there was a mismatch between the size of the beat in the core inflation data (0.4 vs 0.3) and the size of the move i..[read more]

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