Fed Week Uncertainty Makes For Logical Consolidation Bonds rallied sharply just over a month ago following a downbeat jobs report and other data.  They then consolidated ahead of the early September data before rallying just a bit more.  The present week […]

We've talked a lot about why the Fed rate cut will have no additional positive impact on mortgage rates next week.  Everything the market can already reasonably foresee about what the Fed might do is already reflected in today's mortgage rates. In other words, much of the sharp mortgage rate […]

“I pay you to handle my loan and give me a good program with a competitive rate, not predict things you can’t.” At a recent event, a top originator told me that a borrower stated that. I continue to see LOs of all types (bank, credit union, IMB, broker, DTC, whatever) keep an eye on mortgage […]

Today's only potentially relevant economic data was the 10am Consumer Sentiment data.  This report comes out twice a month, once in "preliminary" form earlier in the month and then in "final" form 2 weeks later.  The first release is typically the only shot for a noticeable market reaction as the […]

Modest Resistance, But No Big Bad Correction Unless Friday's Consumer Sentiment data manages to surprise in some completely unprecedented way, bonds have made it through the week of economic reports and Treasury auctions without looking any worse for the […]

While it's true that there have only been 8 business days so far this month, it's also true that today is the only one of the 8 where mortgage rates haven't been lower than the previous day for the average lender.  That's the bad news. The good news is that today's increase was modest.  In fact, […]

“Honey, what did you do today?” “Well…” People do some cockamamie stuff against all odds. What are the odds of a lender or LO retaining their client after the loan has been brokered out or the servicing’s been sold? UWM released KEEP, “an industry-leading technology that utilizes AI […]

Thursday brings this week's last opportunity for the market to react to moderately important economic data before next week's Fed announcement.  So far, it looks like fireworks are not on the menu.  Heavy lifting was left to only two reports: Jobless Claims and PPI.  Neither are true top tier […]

Does Today's Inflation Data Change Anything? Bonds initially sold off following the higher-than-expected core CPI reading this morning.  Shelter inflation spiked back to troubling territory as well--something that was perhaps an even bigger problem for […]

Mortgage rates moved lower again today despite a key inflation report coming in higher than expected.  This is counterintuitive for anyone who's been following rate movement closely over the past few years.   During that time, inflation reports have had a strong, direct connection to mortgage […]