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| Stronger Overnight as Europe Trades Peace | ||
| 6/16/2026 10:55 AM | ||
| European markets definitely got in on the peace deal action yesterday, but they didn"t trade it nearly as aggressively as US markets. Why bring this up? There was a fairly obvious shift toward lower oil prices and bond yields overnight, and the most obvious suspect was simply the opening bell for European markets. While obvious, it wasn"t too...Read More | ||
| AI Products; Fair Lending, Deportations, and Service Animals; AI Governance; Pennymac"s AI Path | ||
| 6/16/2026 9:55 AM | ||
| Sure, we have a Fed meeting, but the Fed doesn’t set mortgage rates. Will they all head off on vacation after this week? Perhaps. Given the increase in the “out of office” replies I am seeing, and children in airports, summer vacation is in full swing. (Apparently families will change their spending habits to accommodate the run up in fuel costs; m...Read More | ||
| Gradual Selling Leaves Bonds Only Slightly Stronger. | ||
| 6/15/2026 3:15 PM | ||
| Gradual Selling Leaves Bonds Only Slightly Stronger. With both sides signing the peace memo, the market was immediately willing to react in the overnight session, but that reaction fell short of what we might expect for an official peace deal. This is a bond market problem more than an Iran war problem. ...Read More | ||
| Mortgage Rates Hit One-Month Lows | ||
| 6/15/2026 2:51 PM | ||
| The bad news: mortgage rates didn"t fall quite as much as one might have expected following the confirmation of the Iran peace deal. The good news: rates had already begun pricing in the peace deal last Thursday and it only took a modest improvement for the average lender to match the lowest level in exactly one month. For context, today"s M...Read More | ||
| Verification, MGIC Survey, Rocket Contest, Credit Reporting Tools; Agency Program Changes | ||
| 6/15/2026 10:26 AM | ||
| This morning, I head to Honolulu for the MBA Hawai’i annual conference. The “Pineapple State” is known for banks and credit unions dominating residential lending. Robber Willie Sutton is famously quoted as saying, "I rob banks because that"s where the money is." Large, unexpected moves in money make the headlines, and Saturday’s Commentary highligh...Read More | ||
| Near Best Levels in a Month as Peace Deal Materializes | ||
| 6/15/2026 9:07 AM | ||
| Although at least one article (from BBC) suggested a peace deal had been signed on Friday, the real word appears to be that a signing is scheduled for Friday. That fact, along with comments on a "done deal" from both sides, helped bonds rally sharply in overnight trading. 10yr yields dropped roughly 6bps and have corrected gradually since then. Yie...Read More | ||
| Minimal Deal Drama, But Next Week Could be Different | ||
| 6/12/2026 2:34 PM | ||
| Minimal Deal Drama, But Next Week Could be Different Various headlines out of Iran pushed back on the notion that a preliminary peace deal was near the finish line this morning. This resulted in modest upward pressure on yields for the first several hours of the day. Then just before 11am, Iran"s foreign...Read More | ||
| Mortgage Rates Near Lowest Levels in Weeks | ||
| 6/12/2026 1:51 PM | ||
| Some national headlines are pointing out that mortgage rates are higher this week. Those are based on weekly survey data which can often be stale compared to daily rate movement. Actual average rates are now in line with last Thursday"s levels of 6.58% for top tier 30yr fixed scenarios. That"s just 0.02% higher than May 29th levels. You"d have to g...Read More | ||
| Modest Bounce in Refi Demand Despite Rate Volatility | ||
| 6/12/2026 1:45 PM | ||
| Mortgage applications bounced higher last week after the holiday-shortened period, though the increase largely reflected a normalization in activity rather than a meaningful improvement in underlying demand. The Mortgage Bankers Association (MBA) reported a 10.8% increase in total application volume on a seasonally adjusted basis for the week end...Read More | ||
| Existing-Home Sales Reach Five-Month High as Affordability Improves | ||
| 6/12/2026 1:25 PM | ||
| Existing-home sales picked up in May, rising to their highest level since December as improving affordability and steady household income gains continued to support demand. Sales increased 3.2% from April to a seasonally adjusted annual rate of 4.17 million , and were also 3.2% higher than a year ago. “More Americans are on the move,” said NA...Read More | ||
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| Warsh's Fed is likely to hold rates steady — what the leadership change could mean for your money | ||
| 6/15/2026 11:37 AM | ||
| The Federal Reserve"s June meeting, the first helmed by new Fed Chair Kevin Warsh, may impact many consumer borrowing and savings rates down the road...Read More | ||
| Jim Cramer says investors have 'lost their appetite for danger' as defensive stocks take the lead | ||
| 6/10/2026 5:23 PM | ||
| CNBC"s Jim Cramer said investors are rotating into defensive sectors, signaling a growing preference for safety over risk...Read More | ||
| Weekly mortgage demand surges nearly 11% higher, despite volatile interest rates | ||
| 6/10/2026 6:44 AM | ||
| Mortgage demand from both current homeowners and potential buyers rose sharply, even though interest rates climbed as well...Read More | ||
| Home sales surged in May to the highest level since December | ||
| 6/9/2026 10:46 AM | ||
| Home sales rebounded in May as mortgage rates dropped back a bit in April, but prices are still rising...Read More | ||
| Higher mortgage rates don't just keep buyers on the sidelines. Application denials rise too | ||
| 6/4/2026 7:15 AM | ||
| The denial rate in loan applications was 15.1% in 2024, up from 12.2% in 2021, a rise that occurred alongside surging mortgage rates, the St. Louis Fed found...Read More | ||
| Sellers are pulling homes off the market at the fastest pace since 2020 | ||
| 6/4/2026 1:50 PM | ||
| Frustrated sellers are pulling their homes off the market at an increasingly high pace, as demand weakens and bidding wars wane...Read More | ||
| GOP Sen. Tillis slams Trump intelligence pick Pulte: 'Don't think he has a prayer' | ||
| 6/3/2026 1:25 PM | ||
| Pulte is widely viewed as a Trump loyalist who has targeted the president"s political foes during his tenure leading the housing regulatory agency...Read More | ||
| Mortgage rates are easing slightly, but homebuyers are retreating | ||
| 6/3/2026 7:29 AM | ||
| Mortgage rates fell slightly last week, but neither current homeowners nor potential homebuyers were inspired. Demand for mortgages fell overall...Read More | ||
| Cassidy: Pulte not 'competent' for intelligence director role | ||
| 6/2/2026 5:03 PM | ||
| Intelligence community veterans have warned that Pulte is ill-prepared for the job and could target Trump"s foes in the role...Read More | ||
| Pulte appointment as spy chief would give a Trump attack dog access to a trove of intelligence | ||
| 6/3/2026 5:57 AM | ||
| In his role atop the housing finance agency, Bill Pulte has used his access to mortgage records to refer some top Trump opponents for prosecution...Read More | ||
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