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Big Market Reaction but Mortgages Outperform
7/3/2025 2:25 PM
Big Market Reaction but Mortgages Outperform Today"s jobs report would have been bad for rates if it was even in line with expectations.  After it came out stronger than expected (especially in terms of the unemployment rate at 4.1 vs 4.3 f"cast), it was off to the races for bond sellers.  The sho...Read More
 
Mortgage Rates Rose Less Than Expected After Employment Data
7/3/2025 1:56 PM
Today brought the hotly anticipated jobs report.  This is the "official" job count and unemployment rate data for the U.S. and no other report has as much consistent power to cause volatility in the rate market.  Today"s was particularly important because a perpetually decent labor market is the main justification for the Fed to wait and ...Read More
 
HELOC Products; Bank Builder JV; Customer Service and Compliance; Employment Data
7/3/2025 10:48 AM
Tomorrow is the 4th of July, the only time of the year Americans say the day and month in the correct order. We find ourselves in the traditional “dog days of summer” which refer to the hottest and most uncomfortable days typically occurring from July 3 to August 11 in the Northern Hemisphere. Did someone say “dog”? Thank you to David I. who sent a...Read More
 
Refis Pick Up Steam as Rate Relief Returns
7/3/2025 9:41 AM
Mortgage application activity moved higher last week as rates declined to the lowest levels since April, according to the Mortgage Bankers Association’s (MBA) latest survey. The Composite Index rose 2.7% on a seasonally adjusted basis for the week ending June 27. Results were not adjusted for holidays this time around, but the previous week had inc...Read More
 
Jobs Report Comes in Stronger. Bonds React Logically
7/3/2025 9:23 AM
Apart from the fact that this morning"s jobs report contrasted starkly from the slew of anecdotal evidence suggesting a weaker labor market in June, the morning has proceeded almost exactly as expected. We assumed that even an on-target result was worth a bit of bond market weakness given the apparent "lead-off" induced by preceding data. The moder...Read More
 
Bonds Circle The Wagons Ahead of High Risk NFP
7/2/2025 2:43 PM
Bonds Circle The Wagons Ahead of High Risk NFP The consensus for tomorrow"s NFP (nonfarm payrolls, the principal component of the big jobs report) is 110k--not much of a downgrade from last month"s 139k.  The bond market has recently been trading as if it expects to see an even lower number--a fact tha...Read More
 
Rates Finally Rise Ahead of Jobs Report
7/2/2025 1:53 PM
Mortgage rates have generally been falling since May 21st and have done nothing but move lower for more than 2 weeks.  That winning streak finally came to an end today with the average lender moving up 0.06% for a top tier 30yr fixed quote. While that"s a moderately big jump for a single day, if we remove the past 4 days from the equation, to...Read More
 
Processing, Lead-Gen Tools; HELOCs, 2nds, Non-Agency Products; Maryland"s DSCR Controversy
7/2/2025 10:51 AM
“Pro Tip: Here’s a friendly 4th of July reminder that absolutely no one is going to watch the videos of the fireworks you record on your phone.” You can bet anyone flying some place is watching the flight delays due to staffing and weather. You can bet that people are watching home price appreciation, especially in terms of home equity, HELOCs, and...Read More
 
Bonds Think About Rallying on ADP Data, But Already Getting Cold Feet
7/2/2025 8:54 AM
ADP employment was this morning"s key economic report and it came out sharply weaker than expected (-33k vs 95k f"cast). There are many past examples of a "miss" of this size prompting a swift rally on the bond market.  Although that looked like it could have been in the works in the first few minutes, bonds have since reversed course and move...Read More
 
Traders Buy The Dip After AM Data
7/1/2025 3:06 PM
Traders Buy The Dip After AM Data After a bit of overnight strength and an early morning pull-back, bonds were right in line with yesterday afternoon"s levels ahead of the 10am data.  JOLTS (job openings) pushed yields back to yesterday"s highs--perhaps with some help from the Senate"s passage of the s...Read More




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Homeowner’s insurance premiums vary widely from state to state, but they are all going up
7/2/2025 12:55 PM
Homeowner’s insurance premiums are going up as increasingly severe storms and other disasters, combined with rising housing costs, are pushing rates higher...Read More
 
Mortgage refinance demand surges, as interest rates drop further
7/2/2025 7:07 AM
Mortgage rates continued to fall, causing more homeowners to apply to refinance at those lower rates. Homebuyers, however, were less impacted by lower rates...Read More
 
Climate threat to U.S. infrastructure is accelerating. Here's what's most at risk
7/1/2025 11:24 AM
Climate risk to U.S. infrastructure is rising, and government cuts to climate science are only accelerating that risk....Read More
 
An Energy Star inside U.S. homes is under attack from Trump, with the cost to homeowners uncertain
7/1/2025 10:40 AM
Donald Trump has railed against modern dishwashers, washing machines, light bulbs, showerheads and toilets. He"s turned his ire into a presidential edict...Read More
 
​Here's how the luxury real estate market is splitting up
6/27/2025 6:00 AM
​Here"s how the luxury real estate market is splitting u...Read More
 
FEMA is not a 'replacement for insurance coverage,' risk management expert says. Here's why
6/26/2025 4:30 AM
FEMA provides aid after natural disasters, but it’s not meant to replace your home insurance plan, especially as the agency is facing major changes...Read More
 
Trump administration moves to count crypto as a federal mortgage asset
6/25/2025 4:05 PM
The Trump administration is ordering Fannie Mae and Freddie Mac to formally consider cryptocurrency as an asset in single-family mortgage loan risk assessments...Read More
 
Primary win by pro-rent freeze Mamdani knocks shares of Flagstar bank on NYC market exposure
6/25/2025 3:10 PM
A rent freeze could lower the value of Flagstar"s multi-family housing loans, though the extent of the potential impact is unclear....Read More
 
Sales of new homes tanked in May, pushing supply up to a 3-year high
6/25/2025 12:01 PM
New home sales dropped much more than expected, as high prices, high mortgage rates and weak consumer confidence ate into demand....Read More
 
Mortgage rates and demand are stuck in a holding pattern
6/25/2025 8:14 AM
Economic uncertainty at home and military conflicts overseas are still having little impact on bond markets, and consequently mortgage rates are stuck...Read More




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