At Least It Didn't Get Much Worse After The Initial Rout If you had to find something reassuring to say about the bond market today, it would be that there wasn't much selling after 9am ET. Unfortunately, there was a whole lot of selling in the prior 30 […]

Over the past three months, mortgage rate movement has been driven primarily by developments in the Iran war. It's not that war, itself, is a consideration, but rather the implications for fuel prices and inflation. Bonds care deeply about inflation and interest rates are based directly on bonds. […]

Mortgage applications eased again last week even as borrowing costs moved lower, suggesting that modest rate relief was not enough to bring borrowers back in force. The Mortgage Bankers Association (MBA) reported a 2.5% decrease in total application volume on a seasonally adjusted basis for the […]

Today we’re going to learn about the facts of life. Trivia-loving basketball facts’ fans know that this is the first time the NY Knicks have led in the finals since the night of OJ’s White Bronco car chase. Homeowner’s insurance has become the “you can’t avoid it and you can’t afford […]

Buzz has been growing around the labor market for the past several months, but today's jobs report went the extra mile to make it official. The job market is officially re-accelerating. Actually, the better claim would be that the jobs market is simply attempting to level off after a very long […]

Modest Gains Maintained After Intraday Slippage Slippage is a bit less severe than leakage. Neither of them will turn a green day red, but they both erode morning gains. Today's gains primarily followed a pre-market comment from Trump who said the US was in […]

After hitting long-term highs on May 19th, mortgage rates dropped somewhat quickly by May 26th. Ever since then, they've been moving back and forth in a very narrow range. Today's movement happened to be the good kind with the average lender cutting top-tier 30yr fixed rates by 0.03%. As always, […]

Lender and Broker Products, Software, and Services There’s been plenty of chatter lately about lenders trying to rebuild realtor referral pipelines. One company may have found a different angle. Inside Real Estate (yes, the company that bought BoomTown) has quietly launched a new lead solution […]

The following newswire hit about an hour before the open: TRUMP: US IN THE MIDDLE OF FINAL NEGOTIATIONS TO END IRAN WAR.  Bond yields and oil prices had already fallen modestly up to that point, but more than doubled the overnight rally after that. Yields are thus starting the day roughly 4bps […]

Minimal Change After Overnight Volatility War headlines struck back in the overnight session. Specifically, Iran struck back against various U.S. and allied sites, allegedly in response to U.S. strikes on Iranian sites. Peace prospects take an obvious hit […]