Mortgage Rates Move Higher Despite Decent Inflation Reading
Tuesday, July 15, 2025
Mortgage rates are based on bonds and bonds don't like inflation. When inflation reports are higher than the market expected, rates tend to rise, all other things being equal. But today's inflation numbers were a bit lower than the median forecast. This scenario is typically mor... .. read more..
Corresp. and Wholesale, Internal Audit, Verification Products, Redlining Webi...
Tuesday, July 15, 2025
Here’s a cool password: 2 444 66666 8888888 9. (You can figure it out.) I’m no IT wizard, but some are. Do you want AI to open your emails and create drafts for you to reply to them? Fyxer does exactly that. Goldman Sachs is piloting an autonomous software engineer, Devin, from AI startup Cogniti... .. read more..
Tariffs Show Up in CPI, But Not Enough to Hurt
Tuesday, July 15, 2025
If market watchers get out their magnifying glasses, they can certainly find some evidence of tariffs impacting inflation in various goods, but those goods are such a small part of the overall CPI calculation that they didn't account for any of this month's higher inflation. Rather, it was ... .. read more..
All Eyes on CPI
Monday, July 14, 2025
All Eyes on CPI Bonds have sold off a bit so far in July, but haven't lost much more ground versus last Tuesday as of this afternoon. In other words, trading levels have been coiling for nearly a week as we've traversed a data-free calendar in anticipation of a very important CPI (Consumer ... .. read more..
Mortgage Rates Just a Hair Higher Ahead of Important Inflation Report
Monday, July 14, 2025
Today's movement in mortgage rates, in and of itself, is barely worth mentioning. The average lender remains close enough to Friday's levels but is technically just a hair higher. That fact is offset by the counterpoint that most of the past two months saw higher rates. The future is ... .. read more..
HELOC, Servicing, AI Fee Research Tools; Webinars and Training; Anti-Poaching...
Monday, July 14, 2025
In news for fans of the wholesale lending channel (more below), heading into the baseball All Star Break the Philadelphia Phillies, owned in part by Freedom Mortgage’s Stan Middleman, are leading the NL East. UWM Holdings Corp CEO Mat Ishbia and SFS Holding Corp sold a combined total of 1,200,108... .. read more..
Empty Calendar and a Sideways Start
Monday, July 14, 2025
Monday is proving to be a good candidate for a bonus summertime weekend day so far. Volumes and volatility were low overnight and trading levels are inconsequentially weaker after. There was a small amount of selling in Treasuries at 7am, but a recovery after the 9:30am NYSE open. We'r... .. read more..
Bonds Bracing For CPI Impact
Friday, July 11, 2025
Bonds Bracing For CPI Impact Stocks sold off quickly in the overnight session in response to the announcement of 35% tariffs on Canada. Bonds view such news as a double edged sword, but also drifted into weaker and weaker territory as the day progressed. Given that yields remained inside th... .. read more..
Highest Mortgage Rates of The Week, Just Barely
Friday, July 11, 2025
Yesterday, we characterized the prevailing mortgage rate momentum as "broadly sideways," and while that's still very true in the bigger picture, words like "up" and "higher" might need to be sprinkled in this week. For those with a glass-half-empty approach, today's rates are the highest of the w... .. read more..
AI Retention, Jumbo AUS, Bridge, HELOC Products; Wholesale and Investor News
Friday, July 11, 2025
Don’t forget to snag your free Slurpee today at participating 7-Elevens! Speaking of edible things, I like my Frosted Flakes, Froot Loops, and Raisin Bran. M&A is not confined to lenders: Imagine my surprise when I learned that Michigan's WK Kellogg Co. is set to be acquired by the Italian ca... .. read more..
Overnight Selling But Still in The Range
Friday, July 11, 2025
In terms of news that seems like it should be important, the biggest overnight development was the announcement of a 35% tariff on Canadian imports starting August 1st (up from the previously-slated 25%). Exemptions for USMCA goods and energy/fertilizer are probable, but TBD. And of course, it's ... .. read more..
Fed Speakers and Auction Help Bonds Hold Steady
Thursday, July 10, 2025
Fed Speakers and Auction Help Bonds Hold Steady Bonds technically lost a small amount of ground today, but it's just as fair to say that they're holding steady on the week. In fact, closing yields today were right in line with last Thursday's closing levels. This might not have been t... .. read more..
Mortgage Rates Broadly Sideways
Thursday, July 10, 2025
Most of this week's mortgage rate movement has been an aftershock following last week's jobs report. That data sent rates quickly higher and that momentum has gradually faded over the past few days. In fact, yesterday finally saw an improvement. Now today, things are minimally changed, depe... .. read more..
Hedging, Fraud Protection, QC Products; FHA, USDA Program Changes; Interview ...
Thursday, July 10, 2025
Lenders and servicers have entire sets of policies and procedures based on the Federal Emergency Management Agency (FEMA) declaring an emergency in a given area. President Trump says FEMA should be eliminated, which would definitely impact this process. Texas officials weren’t fans of FEMA until ... .. read more..
Week's Only Relevant Data is Not Bond-Friendly
Thursday, July 10, 2025
You would be hard pressed to find a week with less to offer in terms of scheduled economic data. In fact, it's not an overstatement to say that regular old weekly jobless claims data was the only relevant report of the week. Unfortunately for fans of low rates, it's not showing any signs of... .. read more..