Surprisingly Light Selling Given The Econ Data Today's market reaction to the big beat in NFP (162k vs 56k) certainly stretches the paradigm of most market watchers who've been in the game for more than a few years, but this has been the reality over the […]

Mortgage application activity showed some signs of life last week, with a modest increase in purchase demand helping offset another decline in refinancing as mortgage rates reached their highest level in four weeks. The Mortgage Bankers Association (MBA) reported a 0.8% increase in total […]

Mortgage rates have a long and storied past with the monthly jobs report. Officially titled "The Employment Situation," the Bureau of Labor Statistics' (BLS) jobs report has more power than any other monthly economic report to cause volatility in the rate market over the years. It may have lost […]

Make sure that your air conditioning is in good condition, as well as clients’. Loan servicers are wondering about their collateral: “Heat in the oceans releases more slowly into the atmosphere, pushing up global temperatures the following year. The powerful 2023-24 El Nino contributed to 2024 […]

The jobs count surged higher (162k vs 56k f'cast) in this morning's jobs report. While such wild divergences will have the masses crying foul, and while this is a large beat, it's not the first time that the headline job count has been this far off forecasts. This is especially understandable amid […]

Still a Resilient Day Despite Afternoon Weakness The day's most notable development, by far, was the speech from Fed Governor Waller in which he said the Fed probably didn't need to hike at the upcoming meeting (depending on data, of course). Fed Funds […]

Mortgage rates finally had a decent day on Thursday after spending the previous three days inching into the highest levels in more than a year. Part of the improvement was due to comments from Fed Governor Chris Waller who said that it wouldn't be necessary to hike rates at the next meeting unless […]

Broker and Lender Products, Software, and Services As AI becomes embedded across the mortgage lifecycle, lenders are rethinking how they use data to drive decisions and automate workflows. They aren’t looking for more reports. They want solutions that help them detect signals, whether it's a […]

There were two separate positive developments for bonds this morning. The most obvious and actionable example was series of comments from Fed's Waller in which he basically said he wasn't interested in hiking rates right now unless inflation data surprised to the downside. Fed funds futures and […]

Relatively Drama-Free Day These things happen from time to time. The bond market finally had an uneventful day... sorta. This may seem like a fairly odd claim for any day where yields hit the highest levels in well over a year but those were intraday highs, […]