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    • Bonds Ultimately Shrug Off Stronger Jobs Data December 2, 2022
      Bonds Ultimately Shrug Off Stronger Jobs Data Today saw a fairly impressive round trip for rates following the stronger-than-expected jobs report.  The initial reaction was clear and unsurprising.  NFP (and especially wages... recently mentioned by Powell) came out higher and rates immediately jumped.  Stocks also tanked on the news because both sides of the market […]
    • Rates Dream of Green Christmas With Help From The Fed December 2, 2022
      As far as financial markets are concerned, a green Christmas is better than anything Bing Crosby could have crooned about. Green is the color that flashes when markets are improving or when interest rates are falling. Green, for lack of a better word, is good. For mortgage rates, it's been an especially difficult year.  They've […]
    • Bonds Were Hoping For Good News, But Didn't Get It From Jobs Report December 2, 2022
      Change has been in the air since the November 10th CPI data.  That single report did more than any other event to raise hopes for a big picture shift in 2022's rate narrative.  Then 2 days ago, Fed Chair Powell confirmed the thoughts shared by other Fed speakers in the past few weeks.  Specifically, the […]
    • Corresp. DPA, Marketing, Profitability Tracking Tools; Lender and Investor News December 2, 2022
      Robert K. writes, “My Mom always said, ‘Work until your bank account looks like a phone number. Well, I did it! ‘Available balance: $911.’” Speaking of numbers, thank you to those who wrote to me correcting the GDP of Mexico here as being $1.4 trillion and not $1.4 billion. Numbers certainly tell the story with […]
    • Mortgage Rates Drop Sharply, Hitting Lowest Levels Since Mid-September December 1, 2022
      Mortgage rates had been in a holding pattern for nearly 3 weeks following the November 10th CPI inflation data.  On that single day, the average 30yr fixed rate fell by a record amount (as far as day-over-day record keeping is concerned, and we don't have daily records prior to 2009).  That took rates from the […]
    • Bonds Look Like They're Expecting Good News December 1, 2022
      Bonds Look Like They're Expecting Good News We came into the day with a disclaimer about modest losses still constituting a victory due to Wednesday afternoon's big rally.  That was only relevant for a few moments this morning as the rest of the day has been spent moving to even stronger levels.  The day's economic […]

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