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  • Mortgage Rates Start Lower, But Finish Higher
    by Mortgage News Daily on December 5, 2022 at 9:08 pm

    Mortgage rates ended last week very close to their lowest levels in more than 2 months after Fed Chair Powell essentially confirmed next week’s rate hike would be smaller than the last.  This wasn’t necessarily new news based on speeches from many other members of the Fed, but markets were more […]

  • Black Knight Home Price Data at Odds With Recent FHFA Move
    by Mortgage News Daily on December 5, 2022 at 8:46 pm

    Black Knight released its Mortgage Monitor report today–always a treasure trove of robust housing/mortgage-related data.  Of particular interest this time around is the ongoing price declines seen in Black Knight’s Home Price Index (HPI)–especially as they relate to the recent FHFA HPI data that […]

  • Weaker Start on Data and Fed Anxiety
    by Mortgage News Daily on December 5, 2022 at 8:22 pm

    Weaker Start on Data and Fed Anxiety Bonds got off to a weaker start in the new week on a variety of factors.  Over the weekend, a few Fed pundits shared more hawkish outlooks, including the WSJ, which pointed out that a 50bp Fed hike could be offset by […]

  • Countdown to CPI Continues
    by Mortgage News Daily on December 5, 2022 at 4:21 pm

    The importance of the Consumer Price Index (CPI) cannot be overstated for most of 2022.  That’s doubly true in November and December.  The Nov 10th iteration rocked the market (in a good way).  The Dec 13th iteration has the power to confirm or refute November’s takeaway, and it’s now only 8 […]

  • Fulfillment, Social Media Compliance, Jumbo Products; Conforming Conventional Changes
    by Mortgage News Daily on December 5, 2022 at 2:21 pm

    “Hey Chet, since you’re the new guy here with the park U.S. Geological Survey in Hawai’i, you’re going to be the one placing the live cam on the volcano for our YouTube feed. Splendid! We’ll be behind you all the way.” (Apply to mortgage banking however you see fit.) Scooting back to […]

  • Bonds Ultimately Shrug Off Stronger Jobs Data
    by Mortgage News Daily on December 2, 2022 at 9:12 pm

    Bonds Ultimately Shrug Off Stronger Jobs Data Today saw a fairly impressive round trip for rates following the stronger-than-expected jobs report.  The initial reaction was clear and unsurprising.  NFP (and especially wages… recently mentioned by […]

  • Rates Dream of Green Christmas With Help From The Fed
    by Mortgage News Daily on December 2, 2022 at 8:48 pm

    As far as financial markets are concerned, a green Christmas is better than anything Bing Crosby could have crooned about. Green is the color that flashes when markets are improving or when interest rates are falling. Green, for lack of a better word, is good. For mortgage rates, it’s been an […]

  • Bonds Were Hoping For Good News, But Didn’t Get It From Jobs Report
    by Mortgage News Daily on December 2, 2022 at 5:30 pm

    Change has been in the air since the November 10th CPI data.  That single report did more than any other event to raise hopes for a big picture shift in 2022’s rate narrative.  Then 2 days ago, Fed Chair Powell confirmed the thoughts shared by other Fed speakers in the past few weeks.  […]

  • Corresp. DPA, Marketing, Profitability Tracking Tools; Lender and Investor News
    by Mortgage News Daily on December 2, 2022 at 3:13 pm

    Robert K. writes, “My Mom always said, ‘Work until your bank account looks like a phone number. Well, I did it! ‘Available balance: $911.’” Speaking of numbers, thank you to those who wrote to me correcting the GDP of Mexico here as being $1.4 trillion and not $1.4 billion. Numbers […]

  • Mortgage Rates Drop Sharply, Hitting Lowest Levels Since Mid-September
    by Mortgage News Daily on December 1, 2022 at 9:05 pm

    Mortgage rates had been in a holding pattern for nearly 3 weeks following the November 10th CPI inflation data.  On that single day, the average 30yr fixed rate fell by a record amount (as far as day-over-day record keeping is concerned, and we don’t have daily records prior to 2009).  That took […]