Mortgage News Daily

• Mortgage Rates Have Been Much Calmer, But They're Still High November 20, 2024
  Remember October and the first part of November--not because of the election, but rather because of the relentless rise in mortgage rates?  Would you rather forget?  You're not alone.  It was the fastest rate spike since 2022, and it was made all the more memorable because it put an end to the first real uptick […]
• Mortgage Applications Technically Improve November 20, 2024
  First thing's first, mortgage applications increased last week, both for purchases and refinances! It was the first improvement for refi demand since mid September, when rates were well into their lowest levels in more than 2 years.  Top tier conventional 30yr fixed rates were being quoted at around 6% at the time, but moved rapidly […]
• Customer Service, Cybersecurity, Repurchase, LLPA Protection Tools; Politicians vs Policy on Mortgage Rates November 20, 2024
  “I thought swimming with dolphins was expensive until I went swimming with sharks. It cost me an arm and a leg.” Through the wonders of modern air travel, I find myself in St. Louis for the MBA of St. Louis event. Here in St. Louis, lending costs, rates, and regulations are on the minds of […]
• Geopolitical Headlines Behind Small But Noticeable Reactions November 20, 2024
  There has been plenty of news over the past 48 hours regarding the U.S. greenlighting Ukraine to use long range missiles to attack Russia.  Yesterday's examples resulted in relatively modest overnight gains for the bond market. Today's example is a developing story. It involves Ukraine firing multiple UK-supplied missiles into Russia. Headlines to that effect […]
• Bonds Give Back Most of The Overnight Gains November 19, 2024
  Bonds Give Back Most of The Overnight Gains Stocks and bonds had a logical response to the threat of global nuclear war overnight, but even at the height of that trade, the gains weren't too big for Treasuries/MBS.  Starting at 9am ET, bonds began giving back the overnight gains and that process continued in a […]
• Mortgage Rates Only Modestly Lower Despite Seemingly Big News November 19, 2024
  Ask your favorite curmudgeonly old market watcher and they'll be happy to explain what "always" happens in financial markets when there's breaking news regarding large scale geopolitical risk.  It would be a surprise if you didn't hear a phrase like "flight to safety," the most common shorthand reference to selling stocks and buying bonds. Why […]
• Two Ways to Look at Residential Construction Slowdown November 19, 2024
  The most common interval for scheduled economic data is "monthly."  That means that things like inflation, sentiment, job counts, unemployment, retail sales, and many other economic metrics are updated and released every month, even when nothing very interesting is happening. On that note, there are several regularly scheduled housing related reports.  This month's installment of […]
• Jumbo, Non-QM, Milestone, HMDA Review Tools; Disasters and GSE Loans; Interview with Cross Country's Matt Weaver November 19, 2024
  “What do giraffes and zoning regulations have in common? They both don't exist in Texas.” I am not heading there for a while, but instead head to St. Louis this morning for the MBA of St. Louis event. I received this note from a veteran broker. “Someone please remind government officials, bank management, and industry […]
• Threat of Global Nuclear War Barely Worth a Bond Rally November 19, 2024
  Tuesday brings a classic example of a seemingly significant geopolitical headline resulting in a completely underwhelming bond market reaction.  When it comes to such matters, we must ask "who thought it seemed significant?"  Quite a few people, most likely, but not as many bond traders. One big issue is that global nuclear posturing is all posturing until […]
• Still Waiting For an End to Unfriendly Trend November 18, 2024
  Still Waiting For an End to Unfriendly Trend It was an uneventful Monday for the bond market.  Economic data was limited to the NAHB Housing Market Index (builder confidence)--a report that hasn't been a market mover since the financial crisis.  And none of the news headlines had an obvious impact on trading levels. Yields started […]