Mortgage News

by Mortgage News Daily on May 20, 2022 at 3:44 pm

The entire week has been dominated by a close correlation between stock prices and bonds yields.  This has been especially noticeable after 9:30am ET on any given day (the NYSE opening bell, when more liquidity and volume hit the market), but even outside those hours, there’s been enough […]

by Mortgage News Daily on May 19, 2022 at 9:01 pm

A brutally fast spike to the highest rates in more than a decade comes with some decent consolation prizes.  Over the past 2 weeks, it has allowed the mortgage market to log several impressively strong days.  To be sure, the rates we’re looking at today are still terrible compared to the first […]

by Mortgage News Daily on May 19, 2022 at 8:48 pm

How Low Can Stocks Go? (Bonds Want to Know) Bonds improved overnight and again after this morning’s Philly Fed data (a dark horse market mover to be sure).  10yr yields hit their lowest levels in 3 weeks, and at one point were almost 40bps below the […]

by Mortgage News Daily on May 19, 2022 at 3:13 pm

“One minute you’re young and having fun. The next, you’re turning down the car stereo to see better.” Gone are the days when all loan officers wanted to see from their company was decent pricing on FHA, VA, Fannie, and Freddie programs, and fast processing. Now, in an effort to do the harder […]

by Mortgage News Daily on May 19, 2022 at 1:26 pm

Remember when the Fed began to abruptly revise its policy tightening pace at the start of the year and both stocks and bonds began to sell off?  That’s the logical play for markets when the Fed ratchets up its tightening pace, but by the end of March, stocks were able to bounce enough to allay […]

by Mortgage News Daily on May 18, 2022 at 8:37 pm

There has been a lot of volatility in the bond market recently.  Because bonds drive interest rate changes, that’s meant plenty of volatility in the mortgage market as well.  The month of May has been less universally awful compared to March and April, one of the worse 2-month stretches in the […]

by Mortgage News Daily on May 18, 2022 at 8:27 pm

What Does Today’s Rally Mean For The Bigger Picture? Bonds began the day in flat to slightly weaker territory, but that didn’t last long.  A gigantic wave of selling in equities markets grew to tsunami-like proportions as the day progressed.  Unlike many […]

by Mortgage News Daily on May 18, 2022 at 7:07 pm

The regular monthly release of the New Residential Construction report from the Census Bureau is typically fairly dry.  To be fair, this month’s update is no exception outside the housing nerd community.  But even amid the seemingly soporific data, we can find some interesting themes. First off, […]

by Mortgage News Daily on May 18, 2022 at 3:54 pm

One side effect of following the market very closely during times of heightened volatility is that the short term developments on any given day run a high risk of contradicting the developments of the previous day.  This is one reason that we have a longer term baseline, both for the trend in […]

by Mortgage News Daily on May 18, 2022 at 1:21 pm

As the MBA’s Secondary Marketing Conference wraps up in Manhattan, and the 1,200 or so registered head home and face post-conference life, Rob B. asks, “What was the mood of the attendees: Denial, anger, bargaining, depression, or acceptance?” The talk in the hallways revolved around […]