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| Uneventfully Weaker Regardless of Durable Goods Data | ||
| 4/24/2024 3:43 PM | ||
| Uneventfully Weaker Regardless of Durable Goods Data Bonds were weaker in the overnight session on a combination of anxiety over potential sales of US Treasuries in Japan and European economic data. The domestic session brought actual selling of US Treasuries in the form of the 5yr Treasury auction, b...Read More | ||
| Mortgage Rates Pleasantly Stable Despite Some Bond Market Weakness | ||
| 4/24/2024 3:10 PM | ||
| The average mortgage lender was able to offer conventional 30yr fixed rates that were very close to yesterday"s levels despite bond market movement that suggested a bigger spike. In a vast majority of cases, if the bond market is in weaker territory compared to the previous day, rates will be higher in proportion to that weakness. In today"s...Read More | ||
| Data Mining, Servicing, Marketing Products: Check Your Noncompete Agreement; Training Next Week | ||
| 4/24/2024 10:23 AM | ||
| Sometimes you just have to “risk it for the biscuit.” Capital markets are, for the most part, a little more complicated than, say, a recipe for next level dark chocolate brownies with salted caramel. Occasionally the topic of LOs or brokers being able to lock a loan, any time, any day, comes up. The New York Stock Exchange, owned by Intercontinenta...Read More | ||
| The Other Side of Sideways | ||
| 4/24/2024 9:31 AM | ||
| The bond market has been decidedly more sideways after hitting longer-term yield highs last Tuesday. 10yr Treasuries have been a relatively narrow range since then, mostly respecting a ceiling of 4.65 and a floor of 4.57. The first two days of the week saw yields start near the ceiling and improve by the close. We"re starting near...Read More | ||
| Mortgage App Volume Declines Across the Board | ||
| 4/24/2024 7:36 AM | ||
| The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, fell back for the first time in three weeks during the week ended Aril 19 as interest rates continued to rise. The Index declined 2.7 percent on a seasonally adjusted basis from one week earlier and was 2.0 percent lower befo...Read More | ||
| Straightforward Gains After PMI Data | ||
| 4/23/2024 3:35 PM | ||
| Straightforward Gains After PMI Data Tuesday"s session was infinitely more interesting than Monday"s with the caveat being Monday was a total snooze-fest. Bond market volumes were much closer to recent averages and there was even some logical, data-driven volatility. As always, volatility c...Read More | ||
| Mortgage Rates Lowest in a Week | ||
| 4/23/2024 3:12 PM | ||
| Mortgage rates are driven by day to day changes in the bond market. Bonds are focused on the Fed and the economic data that shapes Fed decisions. Today"s data isn"t necessarily big on the Fed"s radar, but the market reacted due to its implications on other data. Specifically, the S&P Purchasing Managers Indices (PMIs) came in lower...Read More | ||
| Spring New Home Sales Prove Resilient to Higher Rates | ||
| 4/23/2024 11:47 AM | ||
| Existing home sales posted strong gains in February while sales of new homes slipped slightly. In March each category switched directions. The U.S. Census Bureau and the Department of Housing and Urban Development said newly constructed homes sold at a seasonally adjusted annual rate of 693,000 compared to 668,000 in February while the National Ass...Read More | ||
| Bonds Showing Strong Desire For Econ Data | ||
| 4/23/2024 10:56 AM | ||
| Is it any surprise to see a strong reaction to economic data when the phrase "data dependent" has come to unequivocally rule all other approaches to understanding the interest rate outlook? Yes, actually, it can sometimes still be a surprise because data dependency depends on the data being depended upon. In today"s case, we have a report tha...Read More | ||
| Data Analytics, Servicing Products; STRATMOR"s CD Workshop; Training and Webinars | ||
| 4/23/2024 10:35 AM | ||
| “The next time you dislike your life, remember it’s all about perspective. I know someone who reads 2-3 books a week, works out twice a day, has no financial worries, and has people who want to have sex with him all the time. Yet he constantly complains how much he hates prison.” Being “locked up” with a 3 percent loan on a home is misleading and i...Read More | ||
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