There's a strong case to be made for the fact that interest rates had a sunny predisposition this week. In practical terms, that simply meant giving ...
Whether it was a magical combination of Treasury auction timing and new month trading or a legitimate shift in response to Monday's ISM Manufacturing ...
Huh? Michigan passed California in legal weed sales? The folks here in San Diego don’t seem to mind, and many on the street are doing their part to ke...
The outcome of certain economic reports will determine whether the next big move in interest rates is higher or lower. Two reports are more important...
“My granddad was responsible for 25 downed German planes in WW II. To this day, he is still known as the worst mechanic the Luftwaffe ever had.” On th...
We've been anticipating this week of data for the past 3 weeks and it has been delivering on the promise of increased motivation for the bond market. ...
The phrase "data dependent" is ingrained in the current bond market psychology for good reason. Weaker trends in economic data will reliably cause th...
ISM produces two PMIs. Both of them have a strong track record of inspiring market movement with today's service sector version being the bigger deal...
I head to San Diego today, home to an estimated 300-500,000 roaming feral cats! Cat fans are quick to point out that the word "homeowner" has the word...
Interest rates, along with the distraction of a three-day weekend, further slowed the mortgage market last week. Tho Mortgage Bankers Association (MBA...
For most lenders, you'd still see modestly lower rates on several days in mid May, but apart from that, you'd need to go all the way back to early Apr...
"Hey Rob, thank you for continuing to highlight the insurance issues we're having, like in yesterday's commentary. Insurance companies are monitoring ...
Once again, the bond market is starting the domestic session with 10yr yields several bps lower day-over-day. We can credit European bonds for that o...
Mortgage rates had a rough go of it in the 4 days following Memorial Day weekend (i.e. last week). To be fair, the tough part was limited to the first...
Time flies. It was four years ago many of us were watching the mess called “Tiger King. Summer is upon us again. “People are complaining about this be...
As far as economic data goes, there's CPI, NFP, and then there's everything else. In the "everything else" category, a small group of 3-6 report vie ...
This week got off to a late start as markets were closed on Monday for Memorial Day. Upon returning to the office, traders began pushing rates higher ...
This week's most hotly anticipated report--monthly core PCE inflation--came in 0.2% versus a median forecast of 0.3% this morning. That's welcome new...
How is it that there are only three weeks until the summer solstice? Three more weeks of the amount of daylight increasing in the Northern Hemisphere,...
If we overlook the nearly unchanged performance from last Friday, mortgage rates were on a 5 day losing streak as of yesterday afternoon with the 30yr...
Wednesday proved to be frustrating for bond market watchers and fans of low rates. Yields rose to the highest levels in several weeks without any sat...
Pending home sales fell another 7.7 percent in April according to the National Association of Realtors® (NAR). NAR’s Pending Home Sales Index (PHSI) ...
Hey, there is plenty of competition among lenders and among vendors. But, to the best of my knowledge, vendors and lenders aren’t doing this to one an...
Mortgage rates most recently bottomed out on May 15th with the average top tier conventional 30yr fixed scenario being quoted just a hair under 7.0%. ...
While US bonds were busy holding inside a narrow sideways range through the end of last week, pressure was building in the European bond market. When...
“I just saw three people jogging outside, and it inspired me to… get up and close the blinds.” Are you inspired to fly somewhere on vacation this summ...
Higher interest rates helped to wipe out three weeks of gains in mortgage application activity. The Mortgage Bankers Association (MBA) said its Market...
It was a mini rollercoaster of a day for mortgage rates with the average lender starting the day at lower levels than Friday only to end at the highes...
Last week was notable for its absence of any notable developments--an outcome we considered to be the "guilty until proven innocent" baseline and the ...
“Scientists got together to study the effects of alcohol on a person’s walk, and the result was staggering.” The news impacting human life and propert...
It was largely a dull week for financial markets in terms of scheduled data and volatility, but numerous Fed speeches helped reiterate what the market...
"Abandon all hope ye who enter here." (Dante’s words, not Disney’s.) That could be the slogan of Times Square, but for those who just spent days at th...
If there were any remaining doubts regarding the relevance of Durable Goods as a big ticket market mover, they are put to rest by the absence of a dis...
For the most part, the current week is sorely lacking in the sort of scheduled economic data and events that typically contribute to exciting movement...
Some people say, “You’re crazy to stay in residential lending in this environment, and it’s not going to improve dramatically in the near future.” No,...
It's day 6 of the increasingly famous 11-day weekend (1 normal weekend plus the 3 day Memorial Day weekend and the 5 days in between without any big t...
It was another slow day for the mortgage market and one that joins a list of several other relatively inconsequential days in the past few weeks. Thi...
The inventory of existing homes for sale increased from March to April, but the increased availability didn’t bolster sales. The National Association ...
What Jobs Report? Bring on CPI and the Fed
Bonds made it almost all week putting on a superhuman display of immunity to bad news, but Friday's jobs report was the kryptonite. Whether or not a trader ha...
