In your defense, perhaps you’re not too bothered or concerned about the market/rate movement since Fed day. But if you are, here’s some perspective. With the exception of the past 2 weeks, 10yr yields are the lowest since April and mortgage rates are the lowest since October. Both are lower than they were the day […]
It's Not as Bad as it Seems Read More »
What a difference a week makes for mortgage application demand. As we noted last week, mortgage rates were already trending lower than those captured in the weekly survey numbers from MBA and Freddie Mac. The expectation was that refinance activity would be surging in this week’s data. That turns out to have been an understatement.
Biggest Jump in Mortgage Applications Since 2021 Read More »
The Census Bureau’s latest Residential Construction report showed a mixed picture for August, highlighted by a sharp drop in building permits. Total housing starts (the groundbreaking phase of construction) fell 2.3% to a 1.398 million annual rate, led by a 3.4% decline in single-family starts to 906k. Multifamily activity eased 1.5% to 464k but continues
Big Drop in Building Permits, But Construction Pace is Still Fairly Steady Read More »
Builder confidence levels continued kicking a sad little can down the same long and lonesome road. The September National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) held flat at 32, extending the streak to 17 consecutive months below the key 50 mark that separates expansion from contraction. While the overall index isn’t
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Uneventfully Sideways At Modestly Weaker Levels Fri, Sep 19 2025, 7:31 PM Uneventfully Sideways At Modestly Weaker Levels Friday ended up being the least interesting day of the week although it did manage to offer some hope that the post-Fed selling spree has found a limit. Bonds were just a bit weaker
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Officially, our daily mortgage rate index is a hair lower today than it was yesterday. Your mileage may vary depending on the lender in question. Reason being: some lenders offered mid-day improvements yesterday, but not enough to impact our index. Those same lenders are generally a hair higher today, but again, the average lender is
Mortgage Rates Finally Level Off After 2-Day Rout Read More »
If you’ve just agreed to sell your property, here’s how long you might have to wait before the money actually appears in your account. Property sales are the biggest transaction of most people’s lives. That inevitably means there’s a bit more to it than just handing over the keys in exchange for a suitcase full
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This morning’s economic reports (jobless claims and Philly Fed) are not notoriously big market movers, but many analysts gave ample credit to Claims for driving last Thursday morning’s rally. Now today, claims are right back in line with the same low levels from 2 weeks ago. Continued Claims are also much lower than expected, including
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Will September Deja Vu Continue? Thu, Sep 18 2025, 8:36 PM Will September Deja Vu Continue? Rates rallied hard into last September 2024’s Fed rate cut and then bounced relentlessly higher. With average rates up about a quarter point since Tuesday, the parallels are certainly there. But Last year’s spike didn’t happen so
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If You’re One of Those People Asking How Much Lower Your Mortgage Rate Quote is After Fed Day, This is Required Reading It’s day two of mortgage rates surging higher–now back to the highest levels in 2 weeks (the day before the September 5th jobs report). The juxtaposition of yesterday’s Fed rate cut