Mortgage News

The folks here in Austin are sarcastically asking, “Who’s in your wallet?” Hopefully not Jennifer Garner or Samuel L. Jackson. The Consumer Financial Protection Bureau (CFPB… which always has our backs, right?), sued Capital One, N.A., and its parent holding company, Capital One Financial […]

On December 18th, one of the most striking takeaways from Fed Chair Powell’s press conference was the shift in the Fed’s focus from the labor market to inflation data. Said shift was frequently reinforced in subsequent speeches by other Fed members. Traders were left to decide how much they would […]

Broad, Negative Momentum is Masking Normal Market Movers Tuesday featured a much weaker PPI report that failed to inspire any lasting rally in the bond market. While there were a few ways to reconcile that specific turn of events by examining the internal […]

Mortgage rates officially hit the highest levels since May 2024 yesterday, even though the average was almost imperceptibly higher than last Friday’s.  We saw a similarly small move today, but in the opposite direction. In other words, the average rate moved lower by an amount that won’t even […]

The Producer Price Index (PPI) may not be nearly as much of a market mover as the Consumer Price Index (CPI), but it has proven capable of producing logical reactions in the past when it’s come in much higher or lower than expected. Today’s installment was much lower than expected–something that […]

“The older I get, the earlier it gets late.” It was early to bed last night for me, early to rise, since today we are heading to Austin, Texas for the Sales Rally at University Federal Credit Union. I am sure that a conversation topic will be the capital markets and why mortgage rates are doing […]

Bonds Calmed Down After Early Weakness This week’s relevant economic data is concentrated over the Tue-Thu time frame with Wednesday’s CPI being the most obvious headliner. Today’s session offered little by way of new information but nonetheless provided […]

Mortgage rates rose to the highest levels since May 2024 by the end of last week following a stronger reading on the jobs report. Technically, the same thing happened today, but only because rates inched just a bit higher from Friday’s latest levels.  This time around, there wasn’t any big-ticket […]

“An economics professor was walking with a student when the student looked down and said, ‘Look! A $50 bill!’ The professor explained, ‘That can’t be true. If it were a $50 bill someone would have already picked it up.’” Sometimes reality doesn’t match theory, nor does it match […]

After last Friday’s jobs report, the evaporation of Fed rate cut probability has been a common refrain.  While it’s true that there was an obvious shift in both long and short term rates, it was a drop in the bucket compared to the broader move that has transpired since early October. During […]