Sunday night crude oil futures traded as low as 89.41 after closing on Friday at 96.60. They are back around 92.75 now but was still enough of a break from last week that treasuries opened this morning with bullish gaps. Processing Content At the low yields on Friday, they were all trading in the gaps […]
Treasuries flash bullish signals after oil selloff Read More »
It’s been a day full of news about a possible peace deal with Iran, which would be great news for housing. However, even though mortgage rates have risen due to the conflict lasting longer than anyone initially thought, housing demand has held up, and housing inventory is now on the verge of going negative year
Housing demand stays firm, pushing inventory close to negative YOY Read More »
Today the Fed hawks killed the doves. On the day Kevin Warsh is sworn in as Fed Chairman, he has lost one of the few doves left on the Fed board: Governor Christopher Waller, whom I would have wanted as Fed chairman. Today, Waller gave a speech about how policy risk has changed and to
New Fed Chair Warsh loses dove as Waller turns hawkish Read More »
Mortgage rates enter the Memorial Day weekend at levels not seen since last Labor Day with the bond market in a tizzy this past week. Processing Content News over inflation and the Iran conflict influenced investors and as a result, the 10-year Treasury reached its highest point in 52 weeks. For the week of May
Mortgage rates surge to 9-month high amid market turmoil Read More »
US mortgage rates increased last week to an almost two-month high, weighing on home purchase activity. Processing Content The contract rate on a 30-year mortgage rose 10 basis points to 6.56% in the week ended May 15, according to Mortgage Bankers Association data released Wednesday, just shy of the 6.57% reading at the end of
Mortgage rates rose last week to an almost two-month high Read More »
It’s been a volatile spring when it comes to mortgage demand for new homes. Processing Content Applications for loans on newly built homes in April fell on both a monthly and annual basis, the Mortgage Bankers Association reported Tuesday. Lingering economic uncertainty and higher rates reversed a large uptick in such demand in March, and
Mortgage demand for new homes dives in latest swing Read More »
From left: Michael Lau, Bayview Asset Management; Michael Patterson, Freedom Mortgage; and Jay Plum, Fifth Third Bank Inflation is creating lending hurdles related to consumer spending and rates this year, as could another move the Fed’s eyeing; but lenders will have some coping mechanisms, industry leaders said Tuesday. Processing Content One thing to watch out
How top mortgage execs are contending with 2026’s challenges Read More »
Without the presidential order mandating the government-sponsored enterprises purchase securitized loans, it is possible mortgage rates could even be higher. Processing Content The economists at Bank of America Securities are still expecting the next move out of the Federal Reserve to be a reduction in short-term rates, but they have delayed the timing. This is
Without GSEs’ bond buying, mortgage rates may be even higher Read More »
Mortgage rates and the 10-year yield both hit yearly highs after the Friday massacre in the bond market, as we didn’t get any positive news on ending the conflict in Iran. Even with all that, our weekly pending home sales data is still positive year over year, for now. The weekly mortgage purchase application data
Mortgage rates are at yearly highs, but housing demand is still positive Read More »
Loan officers are shifting their playbooks to keep deals alive as mortgage rates climb north of 6.6%. Originators are encouraging borrowers to ask for more seller credits, recalibrate their home search criteria and rush to close deals as quickly as possible. Rates for 30-year fixed mortgages reached 6.62% on Friday afternoon, up 5 basis points
How loan officers are saving deals as mortgage rates cross 6.6% Read More »