Mortgage News Daily Mortgage News Daily

  • Does The Fed Still Matter?
    by Mortgage News Daily on November 6, 2024 at 10:29 pm

    Does The Fed Still Matter? Bonds sold off overnight as the reality of Trump’s victory became apparent.  Traders more or less nailed the trading levels right out of the gate.  This didn’t leave much room for volatility during domestic hours (10yr yields […]

  • Please Forget Everything You Think You Know About Fed Rate Cuts
    by Mortgage News Daily on November 6, 2024 at 8:03 pm

    Mortgage rates spent the entire month of October moving higher at a fairly quick pace.  Some of that had to do with stronger economic data, but at least as much had to do with the bond market adjusting to election probabilities.  As we’ve been advising in recent weeks, the consensus was that a […]

  • Mortgage Demand Regressing Amid Rapid Rate Spike
    by Mortgage News Daily on November 6, 2024 at 7:36 pm

    In today’s weekly mortgage application survey from the MBA, the average 30yr fixed mortgage rate only rose from 6.73 to 6.81%.  Meanwhile, daily average rates are already back over 7%.  Any way you slice it, rates have been rising quickly and the fallout is completely unsurprising when it comes […]

  • Verification, AI, Servicing Tools; LO Hiring Risk Mitigation; The Election, Rates, and Regulation; Apps Plummet
    by Mortgage News Daily on November 6, 2024 at 4:24 pm

    I went to a Vikings game with a friend and decided I wanted a drink. I wanted the big soda pop, but when I saw the price, I decided… A Minnesota will do. Here in Minneapolis, one topic of conversation is the speed at which regulators seem to be acting, thinking things will change in January. […]

  • Huge Post-Election Sell-Off, The Calmest Result Imaginable
    by Mortgage News Daily on November 6, 2024 at 2:45 pm

    Heading into the election, we knew the bond market was losing ground in concert with improving odds of a Trump victory and red sweep.  After being surprised in 2016, markets were determined to bake in as much of the expected outcome as possible. The seemingly massive overnight sell-off in bonds […]

  • Bonds Brace For Election Results
    by Mortgage News Daily on November 5, 2024 at 9:54 pm

    Bonds Brace For Election Results It was an interesting round trip for the bond market today as overnight weakness gave way to even higher yields after the ISM Services PMI.  ISM was legitimately stronger than expected, and other than the direction of the […]

  • Mortgage Rates Start Higher, But Fall in Afternoon
    by Mortgage News Daily on November 5, 2024 at 9:00 pm

    More often than not, mortgage lenders only set rates once a day. Their decisions are based on trading levels in the underlying bond market.  Even though bonds are constantly moving, it doesn’t make sense for lenders to make a change unless a certain threshold of market movement is surpassed.  The […]

  • Customer Intelligence, LOS, AVM, Hedging Tools; CU, DOJ, and Redlining; Freddie and Fannie Changes
    by Mortgage News Daily on November 5, 2024 at 4:46 pm

    I think that I read somewhere that there’s an election today (in addition to the Boeing strike ending). Certainly, the sun will come up tomorrow, and people will still want to own a home. For me, this morning involves a flight to Minneapolis for the Fusion 24 Event. Mortgage technology will […]

  • Bonds Still Willing to React to Econ Data
    by Mortgage News Daily on November 5, 2024 at 4:08 pm

    Last week could easily have left us with the impression that the bond market’s love affair with economic data was put on hold until after the election.  One could even claim that Friday’s jobs report was ultimately ignored in favor of “something else” that drove weakness after the initial gains.  […]

  • Election Remains Dominant Source of Volatility
    by Mortgage News Daily on November 4, 2024 at 9:13 pm

    Election Remains Dominant Source of Volatility While the average day of the past few weeks has involved election odds pushing yields higher, today was quite the opposite.  There’s some debate as to whether it was polling or betting market odds that got the […]