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Up until roughly 7am ET, it was a rough night for the bond market. 10yr yields had been selling off steadily throughout, hitting 4.443% by 6:45am. Then at 7:04am, newswires indicated "talks" between the US and Iran, and a 5 day ceasefire of sorts. Yields and oil plunged instantly. Stocks rallied. […]

Global Bond Market in Reprice Mode Around here, "reprice" typically refers to mid-day rate changes from mortgage lenders, but infrequently, a big picture repricing occurs in the bond market. That's what's going on in March and especially over the last 2.5 […]

After hitting 5.99% as recently as February 27th, top tier 30yr fixed mortgage rates are back over 6.5% for the average lender today--the highest they've been since September 3rd, 2025.  The entire month of March has been painful for many corners of the financial market and mortgage rates are not […]

New home sales took a notable step back in January, reversing much of the prior month’s strength and highlighting the volatility that often defines this data series. The Census Bureau reported a seasonally adjusted annual rate of 587,000 , down sharply from December’s 712,000 and 11.3% lower […]

NOTE: the rates discussed in this article are from MBA's weekly survey and pertain to last week.  This week's rates have already moved significantly higher according to our daily data. Mortgage application activity fell sharply last week as rising rates weighed on demand. The Mortgage Bankers […]

Builder confidence ticked slightly higher in March according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), though sentiment remains subdued as affordability concerns continue to weigh on the single-family market. The headline index rose one point to […]

In the space of 2 days, central banks have completely stolen the spotlight from energy prices, but they have relied on energy prices to do so. More simply put, markets had been following oil prices until this week's central bank announcements. At that point, central banks cited energy prices as a […]

Volatile Day Thanks to Central Banks And, Eventually Oil Bonds took a break from their lock-step tango with oil prices for most of today's session instead focusing on European Central Bank (ECB) policy news. Key considerations included a sharply higher […]

Mortgage rates hit 7-month highs last Friday, but recovered fairly nicely on the first two days of the present week. The past 2 days have been a bit rough, unfortunately. Over that time, the average top-tier 30yr fixed rate rose 0.14% to 6.43%--just a bit higher than last Friday's 6.41%. Whereas […]