Minimal Deal Drama, But Next Week Could be Different Various headlines out of Iran pushed back on the notion that a preliminary peace deal was near the finish line this morning. This resulted in modest upward pressure on yields for the first several […]

Some national headlines are pointing out that mortgage rates are higher this week. Those are based on weekly survey data which can often be stale compared to daily rate movement. Actual average rates are now in line with last Thursday's levels of 6.58% for top tier 30yr fixed scenarios. That's just […]

Mortgage applications bounced higher last week after the holiday-shortened period, though the increase largely reflected a normalization in activity rather than a meaningful improvement in underlying demand. The Mortgage Bankers Association (MBA) reported a 10.8% increase in total application […]

Existing-home sales picked up in May, rising to their highest level since December as improving affordability and steady household income gains continued to support demand. Sales increased 3.2% from April to a seasonally adjusted annual rate of 4.17 million , and were also 3.2% higher than a […]

Every time I use my credit card at the supermarket it can impact my credit score which were invented in 1958. What might be the credit score of the United States with its $1.78 trillion deficit in 2025? Gas stations and supermarkets are two daily places where we see inflation. Trader Joes, with its […]

Bonds were sideways at first in the overnight session. Then they improved moderately after newswires from Iran's Mehr news agency detailing some specifics of the peace deal, including the U.S. withdrawing forces from the area. Bonds then began selling as various push-back headlines popped up. Deal […]

Big Rally After More Forceful Peace Deal Announcement This morning's commentary noted Trump comments regarding planned air strikes for today. Bonds reacted, but maintained some skepticism. That proved to be a good instinct. At roughly 1:30pm, Trump said the […]

Mortgage rates began the day in uneventful fashion with the average lender right in line with yesterday's latest levels. Things might have gotten off to a slightly better start, but higher inflation in this morning's econ data and discouraging war-related headlines put upward pressure on bond […]

Broker and Lender Products, Software, and Services On the PGA Tour, the player who enters Sunday’s final round in first place only goes on to win about one-third of the time. Getting close and finishing the job are two different things. Optimal Blue's May Market Advantage report found a similar […]

Bonds were reasonably stronger in the overnight session with 10yr yields down roughly 4bps from 4.56 to 4.52. About 8 minutes before the PPI data came out, a series of Trump comments on the Iran war sent oil prices and bond yields higher (new strikes and intent to take Kharg Island). PPI added to […]