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Mortgage Daily News

See below for information related to mortgage, real estate and housing matters from our friends at Mortgage Daily News.

Mortgage Daily News

See below for information related to mortgage, real estate and housing matters from our friends at Mortgage Daily News.

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  • Bonds Leading Off in a Friendly Direction
    by Mortgage News Daily on March 1, 2024 at 9:56 pm

    Bonds Leading Off in a Friendly Direction With ISM Manufacturing, Friday brought the only other reasonably important economic report of the week after Thursday's PCE data, and it did not disappoint.  Well, actually, it did disappoint anyone hoping to see […]

  • Pending Home Sales Still Bouncing Along The Bottom
    by Mortgage News Daily on March 1, 2024 at 8:51 pm

    Sometimes you'll see coverage of economic data that conforms to certain template with a predictable details and word counts.  Rarely, the word count will reflect the pace of change in the underlying data series.  That's what you're dealing with here. Existing home sales have been depressed […]

  • Mortgage Rates Start Slightly Higher, but Finish...
    by Mortgage News Daily on March 1, 2024 at 8:24 pm

    The average lender was offering slightly higher rates this morning when compared to yesterdays latest levels, but things began to change after 10am ET.  That's when today's economic data caused the bond market to erase its day over day losses and ultimately rally to the best levels in more than […]

  • Surprisingly Strong Reaction to Weak ISM Data
    by Mortgage News Daily on March 1, 2024 at 5:46 pm

    We haven't talked enough about ISM Manufacturing this week because Thursday's PCE data was the first report in more than 2 weeks that mattered.  Thus, the focus was on what came first as opposed to what has a track record of moving markets.  It didn't help that ISM Manufacturing was separated […]

  • TPO, Warehouse, Appraisal Mgt., Homeowner...
    by Mortgage News Daily on March 1, 2024 at 4:09 pm

    As I watch it snow here in the Sierra, hey, if you’re going to watch one video this week, watch this 15-second classic (with sound) on how our banking system works. You’ll watch it at least twice, and let your kids figure it out. Since its all-time high of 30,456 in 1921, the bank population in […]

  • It Took a Village (Of Econ Data)
    by Mortgage News Daily on February 29, 2024 at 9:50 pm

    It Took a Village (Of Econ Data) Bonds began the day in weaker territory but rallied after the 8:30am econ data.  This wasn't exclusively a function of Core PCE hitting its forecast, but also drew strength from the higher continued claims number.  Just […]

  • Lowest Mortgage Rates This Week After Key...
    by Mortgage News Daily on February 29, 2024 at 9:05 pm

    In the bigger picture, mortgage rates would still be best described as "trending gently higher," but in the shorter term, today was a victory.  The average lender moved from quoting conventional 30yr fixed rates near 3 month highs yesterday to the lowest levels of the week today.  The disclaimer […]

  • TBA Pricing, Delegated Correspondent, Servicing...
    by Mortgage News Daily on February 29, 2024 at 4:33 pm

    Welcome to February 29; The 366th day is added to keep the calendar year synchronized with the astronomical year or seasonal year. What do astronomers know that we don’t? In general, what do “they” know that we don’t? Recall when Wells Fargo left correspondent, and other correspondent […]

  • Decent Reaction to Econ Data, and Not Just PCE
    by Mortgage News Daily on February 29, 2024 at 3:44 pm

    Today's most hotly anticipated data was undoubtedly PCE inflation for January.  In fact, this is the report that became the subject of our focus and anticipation immediately following the last CPI on Feb 13.  That said, it only deserved focus because it was the best stop-gap data option between […]

  • Small Scale Volatility But Very Sideways Overall
    by Mortgage News Daily on February 28, 2024 at 9:05 pm

    Small Scale Volatility But Very Sideways Overall There were a few instances of volatility in the bond market today with several of the larger moves lining up with larger doses of volume.  In a "data dependent" world, it's odd to consider that none of the […]

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