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    • Rates Are Actually Lower Than Last Week (Despite Moving Higher Today) August 11, 2022
      When it comes to mortgage rates, Thursdays frequently lend themselves to a discussion about fact versus fiction (or "delayed fact" as it may be) in news headlines.  Reasons for this are laid out in detail here.  For those who don't click links, here's the short version: many reporters rely on Freddie Mac's weekly rate survey […]
    • Making Sense of Today's Seemingly Senseless Selling August 11, 2022
      Making Sense of Today's Seemingly Senseless Selling Let's refresh our memories regarding 2022's bond trading: a sharp acceleration in inflation concerns led to a big shift from the Fed and heavy selling in the bond market and aggressive flattening of the yield curve.  Now we're tasked with making sense of more heavy selling in the […]
    • More Tame Inflation; More Bond Losses August 11, 2022
      Up is down, old is new, green is red, etc.  Here we are with a second straight day with inflation data coming in significantly lower than forecast and the second straight day with bonds paradoxically weakening.  Today's version is a bit different.  Yesterday began with a decent, logical head start into positive territory.  Yields were […]
    • Recruiting, Cap. Mkts., DPA, Lead Conversion, Broker Products; Jumbo, Non-Agency, Non-QM News August 11, 2022
      We began 2022 thinking that this might be the “Year of Non-QM.” The product certainly has its advantages for some borrowers, and lenders & investors. And then First Guaranty and Sprout vanished, and the herd of lenders was spooked, began talking about March of 2020 when some investors backed away from the market, and everyone […]
    • Rates Started Lower, But Rose Unexpectedly This Afternoon August 10, 2022
      First thing's first: we deal in extremely granular terms when it comes to mortgage rate movement here.  If you're just looking for an idea of how today's rates are versus yesterday's, they're lower.  The headline is a reference to intraday reprices--the practice of changing rates for better or worse during the business day in response […]
    • How In The World Did Bonds Lose Ground After a Big Drop in Inflation? August 10, 2022
      How In The World Did Bonds Lose Ground After a Big Drop in Inflation? This morning's hotly anticipated CPI data came in well below forecast--a turn of events that should have produced a nice little rally in the bond market.  Bonds did indeed rally initially, but began backtracking almost immediately (MBS managed to hold on […]

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