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| Some Selling Before and After Jobless Claims | ||
| 7/24/2025 7:47 AM | ||
| Jobless claims data continues to defy a majority of other labor market metrics in showing a remarkable lack of any signs of softening. In fact, the 4 week average is now at a 13 week low. While this isn"t the most highly consequential econ data, it"s one of this week"s only actionable reports. As such, bonds are undergoing a s...Read More | ||
| Broadly Calm Despite Modest Pull-Back | ||
| 7/23/2025 3:55 PM | ||
| Broadly Calm Despite Modest Pull-Back If anything about the present week required investigation and explanation, it was the justification for fairly decent gains right out of the gate. Today"s weakness, by comparison, is more logical. Why? Broader momentum is sideways and volatility should be lower this wee...Read More | ||
| Mortgage Rates Tick Higher, But Just Barely | ||
| 7/23/2025 2:22 PM | ||
| It"s been a pretty good run for mortgage rates since hitting their most recent highs last Tuesday. Each subsequent day saw a modest improvement. That winning streak finally ended today, but just barely. The average top tier 30yr fixed rate was only 0.01% higher compared to yesterday. For all practical purposes, that means that rates have been flat...Read More | ||
| High Prices and Rates Keep Home Sales Near Cycle Lows | ||
| 7/23/2025 10:40 AM | ||
| Two months ago, existing home sales hit a five-month low. Last month’s report showed a minor rebound. This month’s update, released July 23, shows a return to weakness. Sales declined 2.7% in June to a seasonally adjusted annual rate of 3.93 million. That leaves activity just above the recent low and still 25% below long-term norms. Year-over-year...Read More | ||
| Weaker Start After Japan Trade Deal | ||
| 7/23/2025 9:43 AM | ||
| The analytical theme this week has been to observe the market movement and then go scrambling for justification. Such is the nature of a week without any actionable econ data. This morning"s example involves yesterday evening"s announcement of a trade deal with Japan which can generally be credited with boosting stocks and hurting bonds in th...Read More | ||
| Mortgage Apps Eke Out Small Gain Thanks to Purchase Activity | ||
| 7/23/2025 8:01 AM | ||
| Mortgage application activity managed a modest increase last week despite slightly higher rates. The Mortgage Bankers Association’s (MBA) weekly survey showed a 0.8% rise in the seasonally adjusted Composite Index for the week ending July 18, 2025. “Mortgage rates moved higher last week, with the 30-year fixed rate edging up to 6.84 percent, the h...Read More | ||
| CFPB Warning; Elizabeth Warren & Bill Pulte; Non-Agency News | ||
| 7/23/2025 7:28 AM | ||
| The residential lending industry touches all facets of life, and the best LOs are not focused strictly about mortgages. I start off this Commentary with a note about… pets. Yep. Apparently, shelters are overwhelmed with animals. If you’re looking for an animal, or know someone who is, now is especially a good time to adopt. (My cat Myrtle came from...Read More | ||
| Solid AM Gains Stick Around All Day | ||
| 7/22/2025 3:16 PM | ||
| Solid AM Gains Stick Around All Day Bonds improved in the morning following comments from Bessent that gave the markets more insight to his role in defusing last week"s frenzy over the potential ouster. In short, he"s the voice of reason and the bond market likes that. Additional gains came courtesy of...Read More | ||
| Mortgage Rates Inch Down to 2-Week Lows | ||
| 7/22/2025 2:25 PM | ||
| Last week, we got a sneak preview of how the market would react to Fed Chair Powell ending his term early. In a nutshell, only the shortest-term rates would improve while most consumer rates would move higher--including mortgages. This isn"t conjecture, but rather the actual response in the bond market (bonds dictate interest rates). Thankful...Read More | ||
| Marketing, Processing, Servicing Tools; STRATMOR on Revenue Growth; FHA, EPDs, and Disasters | ||
| 7/22/2025 10:53 AM | ||
| You may not believe in climate change, but your insurance company and mortgage servicer certainly do. It is a fact that warmer air can hold more moisture, and a new peer-reviewed study published in the Journal of Catastrophe Risk and Resilience found that insured losses from hurricanes could rise 50 percent if global atmospheric warming hits the 2 ...Read More | ||