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| Abbreviated Friday Opening at Week"s Best Levels | ||
| 5/22/2026 7:59 AM | ||
| Bonds are starting the session at the best levels of the week with modest overnight gains getting a small boost from news that Pakistan"s army chief (a central figure in mediating US/Iran peace talks) is en route to Tehran. Trading ends at 2pm today instead of 5pm, as is usually the case for a Friday before a Monday federal holiday. Econ data ...Read More | ||
| Peace Deal Rumors Make For Mid-Day Reversal | ||
| 5/21/2026 3:05 PM | ||
| Peace Deal Rumors Make For Mid-Day Reversal Bonds started the day in fairly forgettable and slightly weaker fashion after overnight headlines suggested that the disposition of Iran"s nuclear material remains a sticking point. Bonds were flat at weaker levels all morning. Then, just after 1pm, a differe...Read More | ||
| Mortgage Rates Recover After Starting Higher | ||
| 5/21/2026 1:40 PM | ||
| After posting a decent recovery from 9-month highs yesterday, it looked like mortgage rates were destined to bounce back toward slightly higher levels today. In fact, when lenders released their initial rates this morning, the average 30yr fixed rate was indeed moderately higher. But shortly after 1pm ET, news broke regarding additional progress i...Read More | ||
| Hedging, Verification, Servicing, QC, Reverse Products; Road to Housing Bill Status | ||
| 5/21/2026 10:15 AM | ||
| Lots of folks were leaving the MBA’s National Secondary yesterday, and many comments and questions were heard. “Did you hear that Jerry Seinfeld is doing a show at the MBA National in October?” (True) “Ginnie Mae began ratcheting up its cybersecurity efforts in 2024. Why aren’t others?” (Good question; I’m sure they are at some level.) “Most lender...Read More | ||
| Bonds Turn Red Overnight on War Headlines | ||
| 5/21/2026 8:19 AM | ||
| Bonds spent most of the overnight session moving sideways to slightly stronger, but everything changed at 6:20am. That"s when news broke regarding a statement from Iran"s Khamenei saying that Uranium should not leave the country. Given that this is a sticking point for peace negotiations, the response in bonds/oil/etc was immediate and clear. Yield...Read More | ||
| Full Reversal And Then Some | ||
| 5/20/2026 3:19 PM | ||
| Full Reversal And Then Some Bonds more than made up from Tuesday"s rout with a massive rally on Wednesday. Unlike Tuesday"s move, which was driven by bond-market-specific selling pressure on the part of one account"s massive liquidations, Wednesday"s rally was broad-based and driven by war-related headlines...Read More | ||
| Mortgage Rates Recover All of Yesterday"s Losses | ||
| 5/20/2026 1:58 PM | ||
| Wednesday brought some much-needed relief for the mortgage market after rates surged to new 9 month highs of 6.75% yesterday. Whereas that rate spike was decoupled from the prevailing narrative of war-related headlines, today"s recovery was quite the opposite. Newswires came out shortly after 10am ET that suggested the U.S. and Iran are nearing a ...Read More | ||
| TPO Non-QM, Vendor Strategy, Cybersecurity Tools; NY Conference Talk; Fed Raise Coming? | ||
| 5/20/2026 10:43 AM | ||
| Here in New York, as over a thousand of us head to airports (hopefully avoiding manholes… tragic), the mood has been pragmatic. Not overly optimistic, not somber, just realistic. No one is arguing that the war hasn’t driven up worldwide oil prices, impacting inflation and borrower psychology, impacting lending. The Mortgage Bankers Association now ...Read More | ||
| Bleeding Subsides For Now, Headlines Helping But Bonds Remain Cautious | ||
| 5/20/2026 9:24 AM | ||
| Tuesday"s massive wave of bond-specific weakness still has the analytical community scratching its collective head. Our contacts are either saying nothing or telling us they"re just as perplexed. So far this morning, there hasn"t been any sort of repeat performance. Lower oil prices have helped bonds find their footing, but the move has ...Read More | ||
| Whales Making Waves in Treasury Futures | ||
| 5/19/2026 3:57 PM | ||
| Whales Making Waves in Treasury Futures Nerd alert: there"s no way to discuss what happened in the bond market today without getting a bit nerdy. Reason being, there was an absolute deluge of block trades in Treasury futures (over $20bln--the biggest day we can remember for outright block trades). Ther...Read More | ||
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| What the AvalonBay, Equity Residential megamerger means for the apartment industry and rents | ||
| 5/22/2026 7:55 AM | ||
| The deal will create one of the largest real estate companies in the U.S., with more than 180,000 rental apartments. ...Read More | ||
| Rising mortgage rates cause surge in demand for riskier loans | ||
| 5/20/2026 6:33 AM | ||
| Mortgage rates continued to rise last week, causing more borrowers to head to adjustable-rate loans, which are cheaper but considered riskier....Read More | ||
| House approves breakthrough housing bill in a win for investors | ||
| 5/20/2026 12:35 PM | ||
| The U.S. House approved an updated housing affordability bill after removing industry-opposed requirements on selling build-to-rent homes...Read More | ||
| Mortgage rates surge to highest level since July | ||
| 5/19/2026 3:06 PM | ||
| Mortgage rates continued to move higher Tuesday on uncertainty over the war with Iran. They are at the highest level since last July...Read More | ||
| Homebuilder sentiment improves on late spring surge in demand | ||
| 5/18/2026 10:58 AM | ||
| Builders are feeling slightly better about the housing market, as they see improved buyer traffic in a potential late spring surge....Read More | ||
| Why a small UK lender has major U.S. credit firms on edge | ||
| 5/18/2026 12:00 AM | ||
| The continuing fallout from MFS" collapse has heightened fears that problems in complex credit markets pose a broader systemic risk....Read More | ||
| Why your 'fixed' mortgage payment keeps going up | ||
| 5/17/2026 8:30 AM | ||
| Rising property taxes and surging homeowners insurance costs are pushing up the amount that homeowners must pay monthly alongside their mortgage...Read More | ||
| Mortgage rates jump to highest level since March on hotter inflation reports | ||
| 5/13/2026 1:25 PM | ||
| Mortgage rates surged to the highest level since March in reaction to two hotter-than-expected inflation reports...Read More | ||
| Mortgage rates move to highest level in 5 weeks, but homebuyers shake it off | ||
| 5/13/2026 6:33 AM | ||
| Mortgage rates continued to climb higher, but stronger homebuyer demand helped to keep mortgage applications in positive territory....Read More | ||
| New York City Mayor Zohran Mamdani's pied-à-terre property tax is moving ahead. But will it work? | ||
| 5/12/2026 3:20 PM | ||
| New York is moving ahead with a pied-à-terre property tax in its budget. Existing taxes from around the world"s major cities show the limits of the policy...Read More | ||
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