AMB News

Mortgage News Daily

• Bonds Hold On to NFP-Driven Gains Despite Some Push-Back May 3, 2024
  Bonds Hold On to NFP-Driven Gains Despite Some Push-Back Whether you view it as a perfectly logical reaction to NFP coming in at 175k vs 243k or a bit too much of a rally relative to the motivation, no one could argue that bond yields were destined to drop after seeing this morning's jobs report.  […]
• Rates End Week at Lowest levels since April 9th May 3, 2024
  It was an action-packed week for the housing and mortgage market. Wednesday's Fed announcement was the highlight, but we also got several economic reports that caused rate volatility. Thankfully, it was mostly the good kind. The week got off to a slightly stronger start with Monday's only major rate news being updated borrowing estimates from […]
• Stronger Start For Bonds After Cooler Jobs Report May 3, 2024
  On most months in modern economic memory, a gain of 175k payrolls would be welcome news for the labor market.  Depending on the context, it still is.  But in today's case, it's much lower than the market expected and not a high enough number to justify the 4.6+ 10yr yields seen yesterday.  Bonds rallied instantly […]
• Fee Collection, S&D Products; Webinars and Training; Rates Ease on NFP Miss May 3, 2024
  When camping here at Yosemite National Park*, you quickly realize that there is one basic product here that has never changed: nature. Mortgage products, however, are always shifting and changing. How’s your adjustable-rate mortgage offering, and training, for LOs? The ARM share of applications last week reached nearly 8 percent. Builder business is another segment […]
• Mortgage Rates Sneak to 2 Week Lows With Important Data on Deck May 2, 2024
  The bond market--which dictates interest rates--had a generally favorable response to yesterday's update from the Federal Reserve.  While the Fed didn't cut rates, and while they're increasingly acknowledging that rate cuts are moving farther into the future, they still think data will evolve in a way that results in the next move being a cut […]
• Counterintuitive Rally And Asymmetric Risk May 2, 2024
  Counterintuitive Rally And Asymmetric Risk Bonds began the day in slightly stronger territory and managed to hold the gains after the early economic data which consisted of unfriendly readings in Challenger layoffs, Jobless Claims, and Q1 Unit Labor Costs.  All three spoke to ongoing labor market strength with the latter adding some inflationary fuel to […]