Bonds found a bid along with stocks yesterday afternoon after Trump announced a “framework of a deal” on Greenland. Markets were much less interested in U.S. access and more concerned with pausing the more immediate market-related implications (new tariffs and changes in foreign demand for Treasuries). This notion was reinforced this morning as there was […]
No Reaction to Early Data, But Slightly Weaker Overnight Read More »
Markets held more sideways overnight as traders awaited further geopolitical developments today surrounding Greenland. Both stocks and bonds lost ground yesterday on the threat of additional tariffs (and counter-tariffs) as well as decreased participation in the US bond market from foreign wealth funds. When bonds lose ground, rates move higher. Bond market improvement was tentative
Mortgage Rates Sideways to Slightly Lower Read More »
Uneventful And Slightly Stronger Mon, Dec 29 2025, 4:26 PM Uneventful And Slightly Stronger Although volumes picked up a bit versus Friday, no one would confuse the late December bond market from exhibiting any unexpected signs of life. A stronger open in Europe made for a modest improvement overnight and almost all
Uneventful And Slightly Stronger Read More »
Slightly Weaker. No, It’s Not Japan There was a fair amount of momentum among financial news sources regarding the potential significance of last night’s Bank of Japan (BOJ) announcement to the U.S. bond market. While it was clearly relevant for Japan, it’s hard to make the case that it had any impact on
Slightly Weaker. No, It’s Not Japan Read More »
Seasonally adjusted mortgage application activity declined 3.8% last week, according to MBA’s Weekly Mortgage Applications Survey for the week ending December 12. Unadjusted applications fell 5% from the prior week, reflecting a typical seasonal slowdown as the year draws to a close. The Refinance Index slipped 4% from the previous week but remains 86% higher
Mortgage Apps Still Strong vs Last Year, But Down Slightly Last Week Read More »
Slightly More Focus Than Normal on Thursday’s CPI Wed, Dec 17 2025, 4:17 PM Slightly More Focus Than Normal on Thursday’s CPI Wednesday ended up being an uneventful trading day with bonds mostly sideways and well within the recent trading range. This isn’t hard to believe given the absence of any relevant
Slightly More Focus Than Normal on Thursday’s CPI Read More »
There was a decent chance that rates would have made a fairly big move today in response to the release of November’s jobs report. This is the most important economic data as far as rates are concerned and today’s was the first full release since before the government shutdown. In general, weaker employment data promotes
Mortgage Rates Only Slightly Lower, But Volatility Risks Remain Read More »
Mortgage rates were just slightly lower to start the new week. This leaves the average lender’s top tier 30yr fixed rate almost dead center in the narrow range that’s been intact since early September. The absence of any significant movement on Monday is a logical outcome given the absence of any major economic data releases
Mortgage Rates Slightly Lower as Volatility Risks Increase Read More »
Unlike Monday, which saw a fairly brisk move toward higher rates, Tuesday barely budged. Additionally, the budging occurred in a friendly direction with the average lender offering rates that were just a hair lower than yesterday’s. Starting tomorrow morning, this week’s potential volatility will be higher. Each day brings several economic reports with the power
Mortgage Rates Move Slightly Lower Read More »
Wednesday was far less eventful than the first two days of the week as far as mortgage rates were concerned. The average lender raised rates just a hair, but apart from yesterday, these are the lowest levels in a month and very close to the lowest levels in more than 3 years. Bond markets and
Mortgage Rates Slightly Higher, But Remain Near Long-Term Lows Read More »