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| Treasury Auction Blamed as Bond Vigilantes" Smoking Gun | ||
| 5/21/2025 3:34 PM | ||
| Treasury Auction Blamed as Bond Vigilantes" Smoking Gun Vigilante justice! Taking matters into one"s own hands! It"s a sensational concept when applied to the bond market, but the term hasn"t really done us many favors over the years. It happened to work for a headline today because the te...Read More | ||
| Mortgage Rates Move Up to 3 Month Highs | ||
| 5/21/2025 2:43 PM | ||
| Two days ago, mortgage rates began the day at 7.04% before mid-day improvements brought the average back down to 6.99%. Today started out in a similar vein with the average lender at 7.05%, but the mid-day movement only made things worse. In terms of catalyst events, the bond market (and stock market, for that matter) swooned after a schedul...Read More | ||
| Non-QM, Post-Closing, POS, Warehouse Products; Vendor Marketplace; FHA, VA, and Ginnie news | ||
| 5/21/2025 10:50 AM | ||
| As nearly a thousand capital markets staff, managers, and vendors head home from Manhattan, united in trying to help borrowers, in a reflection of the times, it’s interesting how divisive the times are given the phone call this week between Vladimir Putin and Donald Trump. Fox News noted, “Trump Confident Putin Wants Peace” versus nearly every othe...Read More | ||
| Nothing For Bonds to Trade But Fiscal Disillusionment | ||
| 5/21/2025 9:50 AM | ||
| We"re now into the 3rd day of a week that"s conspicuously lacking in relevant econ data. In addition, the looming holiday weekend hinders participation and increases potential volatility. That means an extra level of impact for whatever bonds can find to move the needle. So far, all they"ve been finding is a feeling of disillusionment with the...Read More | ||
| Ultimately Sort of Flat if You Use Your Imagination | ||
| 5/20/2025 4:01 PM | ||
| Ultimately Sort of Flat if You Use Your Imagination Here"s a quick and easy method for imagining that bonds were flat today. Step one, go back to yesterday and use 3pm as a closing time (not a crazy request considering that"s the traditional end-of-day marking time for Treasuries). Then do the same for...Read More | ||
| Mortgage Rates Hold Steady Near Recent Highs | ||
| 5/20/2025 3:32 PM | ||
| Mortgage rates ultimately managed to hold steady on Tuesday despite some underlying market volatility. Rates change day to day (and sometimes intraday) based on movement in the bond market, and there"s been plenty of that. Yesterday"s market movement was good for rates after starting out near the worst levels since February. This allowed most lend...Read More | ||
| Automation Pilot; MBA Pooling, Marketing, Cyber Insurance, Processing Tools; MBA Open Door Auction | ||
| 5/20/2025 10:41 AM | ||
| A mullah, a rabbi, and a priest walk into a bar here in New York. The bartender says, “What is this, some kind of joke?” What isn’t a joke is people’s pay, and trends in mortgage compensation, and this month’s STRATMOR’s piece is titled, “Compensation is Still Lender’s Largest Expense.” What also isn’t a joke is likely, or at least possible, furthe...Read More | ||
| Budget Battle Hitting Bonds Amid Empty Calendar | ||
| 5/20/2025 9:11 AM | ||
| It"s a holiday-shortened week with a relatively empty economic calendar, thus forcing the bond market to find its movement cues elsewhere. To some small extent, corporate bond issuance has had an impact behind the scenes. It was lower than expected yesterday, which may have helped, and is picking back up today, which may be hurting. But the bigger ...Read More | ||
| (Un)Surprising Reversal After Initial Weakness | ||
| 5/19/2025 2:51 PM | ||
| (Un)Surprising Reversal After Initial Weakness The sharp overnight losses in stocks and bonds were consistent with a market that didn"t have time to process the sort of knee-jerk reaction one would expect from headlines like Moody"s US credit rating downgrade. Most of the rest of the domestic session was co...Read More | ||
| Mortgage Rates Briefly Over 7% Before Mid-Day Improvement | ||
| 5/19/2025 2:05 PM | ||
| Mortgage rates jumped sharply over the weekend as financial markets reacted to Moody"s credit rating downgrade of the U.S. News of the downgrade broke with only minutes left in Friday"s market/business day, so most of the response played out when global markets opened again late last night. The initial reaction involved stock prices moving l...Read More | ||