Mortgage News

by Mortgage News Daily on August 8, 2022 at 8:13 pm

Bonds Remain Resilient Despite Supply-Related Headwinds Supply and Demand 101 tells us that higher supply means lower prices, all other things being equal.  The same is true for the bond market.  Supply is fairly predictable at times, but some sectors wax […]

by Mortgage News Daily on August 8, 2022 at 7:45 pm

It will be a few weeks before we get the next installment of the bellwether home price indices (Case Shiller and FHFA), but today’s Mortgage Monitor from Black Knight has an earlier look at June’s results.   Much like FHFA and Case Shiller, Black Knight’s data for May had shown year-over-year […]

by Mortgage News Daily on August 8, 2022 at 2:21 pm

How much would you pay for a company responsible for a funny video? How ‘bout $1.7 billion bones? Amazon, catching the eye of the FTC, has made an offer to acquire Roomba maker iRobot for $1.7bn. (Speaking of household goods, I occasionally am asked by LOs or employers about closing or referral […]

by Mortgage News Daily on August 8, 2022 at 1:41 pm

Although Friday’s post-payrolls sell-off was unpleasant for the bond market in the context of a single trading day, it was arguably a resilient showing considering the strength of the data and the shift in Fed rate hike expectations earlier in the week. After all, Fed Funds Futures for mid-2023 […]

by Mortgage News Daily on August 5, 2022 at 10:55 pm

The big monthly jobs report from the Labor Department (officially “The Employment Situation) is one of the most reliable sources of volatility for interest rates.  While this was much easier to observe before the pandemic, key economic reports have been getting more and more attention as the […]

by Mortgage News Daily on August 5, 2022 at 7:57 pm

Strong Data Redefining The Rate Outlook Between Wednesday’s ISM Services data and Friday’s jobs report, the market was faced with two compelling “yeah buts” to what has generally been a symphony of economic bearishness over the past few weeks.  Whereas […]

by Mortgage News Daily on August 5, 2022 at 5:29 pm

This morning’s jobs report showed payroll creation at 528k for July compared to a median forecast of 250k and a previous reading of 398k.  Perhaps equally as damaging to the bond market, wages came in at 0.5 vs 0.3 f’cast and were revised up another 0.1 last month.  Potent arguments against […]

by Mortgage News Daily on August 5, 2022 at 2:48 pm

Please answer the short questionnaire at the end of the Commentary. Okay, just kidding. I have grown to really dislike a survey request after I stay at a hotel, fly somewhere, or fill up at the gas station. But for brokers who wouldn’t mind providing a little input, a fintech company that I know […]

by Mortgage News Daily on August 4, 2022 at 8:31 pm

Refreshingly Resilient Ahead of Jobs Report Bonds began the day with a slight boost from Europe’s reaction to the Bank of England announcement (emphasis on “slight”).  Gains faded heading into the 9:30am NYSE open, but bounce back in short order.  Both […]

by Mortgage News Daily on August 4, 2022 at 4:26 pm

This morning’s announcement from the Bank of England (BOE) led to a bond rally that helped 10yr yields hit 2.656% and MBS gain more than an eighth of a point in early trading.  They’ve since moderated a bit and will spend the rest of the day getting into position for tomorrow’s jobs report.  […]