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15th December, 25
Fairly Calm Monday. Jobs Report on Deck
Fairly Calm Monday. Jobs Report on Deck Monday ended up being a forgettable December trading day with modest overnight gains eroding to roughly unchanged levels by the 3pm close. There were no catalysts worth discussing, and even if there were, they'd pale in comparison to the inbound econ data. Tuesday morning brings the first post-shutdown jobs report, albeit a week and a half later than normal. With payrolls counts not carrying as much weight as they used to, don't be surprised to see an increased focus on the unemployment rate. While some of the full-fledged reaction could be held back
Fairly Calm Monday. Jobs Report on Deck
Fairly Calm Monday. Jobs Report on Deck Monday ended up being a forgettable December trading day with modest overnight gains eroding to roughly unchanged levels by the 3pm close. There were no catalysts worth discussing, and even if there were, they'd pale in comparison to the inbound econ data. Tuesday morning brings the first post-shutdown jobs report, albeit a week and a half later than normal. With payrolls counts not carrying as much weight as they used to, don't be surprised to see an increased focus on the unemployment rate. While some of the full-fledged reaction could be held back
15th December, 25
Mortgage Rates Slightly Lower as Volatility Risks Increase
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 or headlines. But Tuesday could be a different story. At 8:30am ET, the Bureau of Labor Statistics (BLS) will release the first jobs report with data collected after the government shutdown. This report normally would have come out on December 5th, but by the time the
Mortgage Rates Slightly Lower as Volatility Risks Increase
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 or headlines. But Tuesday could be a different story. At 8:30am ET, the Bureau of Labor Statistics (BLS) will release the first jobs report with data collected after the government shutdown. This report normally would have come out on December 5th, but by the time the
15th December, 25
Hedging Auditor, Broker Survey, Non-QM, DSCR Products; Rising Insurance Costs
Lender and Broker Services, Products, and Software Home equity may have been the headline in 2025, but the real story is what comes next. With nearly $35 trillion in homeowner equity and rising consumer debt shaping borrower behavior, the opportunity is clear. The path to capturing it is not. On Wednesday, Dec. 17, at 3 p.m. Central Time, leaders from Optimal Blue and FirstClose will unpack the signals behind the surge and the quieter forces reshaping home equity performance. From secondary market shifts to automation gains and the widening gap between fast and slow operators, this session
Hedging Auditor, Broker Survey, Non-QM, DSCR Products; Rising Insurance Costs
Lender and Broker Services, Products, and Software Home equity may have been the headline in 2025, but the real story is what comes next. With nearly $35 trillion in homeowner equity and rising consumer debt shaping borrower behavior, the opportunity is clear. The path to capturing it is not. On Wednesday, Dec. 17, at 3 p.m. Central Time, leaders from Optimal Blue and FirstClose will unpack the signals behind the surge and the quieter forces reshaping home equity performance. From secondary market shifts to automation gains and the widening gap between fast and slow operators, this session
15th December, 25
Welcoming Back Timelier BLS Data
The Bureau of Labor Statistics (BLS) is responsible for the two most important economic reports to the bond market: The Employment Situation (aka jobs report or NFP) and The Consumer Price Index (CPI). This week marks the return of more timely installments of these reports with NFP on Tuesday (still not 100% timely, but only a week and a half late) and CPI on Thursday. In addition, we'll get October's retail sales data at the same time as NFP. This combo of data could easily set the tone through the 2nd week of January, for better or worse. If the data sends a unified message that's
Welcoming Back Timelier BLS Data
The Bureau of Labor Statistics (BLS) is responsible for the two most important economic reports to the bond market: The Employment Situation (aka jobs report or NFP) and The Consumer Price Index (CPI). This week marks the return of more timely installments of these reports with NFP on Tuesday (still not 100% timely, but only a week and a half late) and CPI on Thursday. In addition, we'll get October's retail sales data at the same time as NFP. This combo of data could easily set the tone through the 2nd week of January, for better or worse. If the data sends a unified message that's
12th December, 25
Anyone Who Tells You They Know What Happens Next For Rates is Lying
Friday saw mortgage rates move back up near the highest levels of the week, and thus the highest levels of the past 3 months. Thus ends another week where mortgage rates end higher despite a Fed rate cut. We've beaten this horse to death, but here are the two key reasons Fed rate cuts don't necessarily result in lower mortgage rates, in as few words as possible: Different Kinds of Rates Fed Funds Rate = loans of 24 hours or less. Mortgage rates = loans up to 30 years. Rates can have vastly different behavior when they apply to loans of vastly different time frames Vastly
Anyone Who Tells You They Know What Happens Next For Rates is Lying
Friday saw mortgage rates move back up near the highest levels of the week, and thus the highest levels of the past 3 months. Thus ends another week where mortgage rates end higher despite a Fed rate cut. We've beaten this horse to death, but here are the two key reasons Fed rate cuts don't necessarily result in lower mortgage rates, in as few words as possible: Different Kinds of Rates Fed Funds Rate = loans of 24 hours or less. Mortgage rates = loans up to 30 years. Rates can have vastly different behavior when they apply to loans of vastly different time frames Vastly
12th December, 25
Correspondent Products, STRATMOR on Borrower Psychology; Lender Tools; DSCR Appraisal Issues in Baltimore
“What happened with the DSCR appraisal issue in Baltimore earlier this year?” Good question. Baltimore is not alone: This week we have investors either pricing themselves out of, or ceasing loans from, the Philly market for certain non-owner loans.) The whole Baltimore thing seems to have quieted down, and up until recently the last news coming in October although this week along came, “Baltimore is striking fear into private lenders across the country.” “Over the past three years, businesses connected to Benjamin Eidlisz purchased more than 700 houses in Baltimore. Through a
Correspondent Products, STRATMOR on Borrower Psychology; Lender Tools; DSCR Appraisal Issues in Baltimore
“What happened with the DSCR appraisal issue in Baltimore earlier this year?” Good question. Baltimore is not alone: This week we have investors either pricing themselves out of, or ceasing loans from, the Philly market for certain non-owner loans.) The whole Baltimore thing seems to have quieted down, and up until recently the last news coming in October although this week along came, “Baltimore is striking fear into private lenders across the country.” “Over the past three years, businesses connected to Benjamin Eidlisz purchased more than 700 houses in Baltimore. Through a
12th December, 25
Choose Your Own Market Movement Adventure.
There's a noticeable divergence between long and short term bonds since the Fed announcement, and it's becoming more pronounced today. We can consider a few different reasons with the most basic being that the Fed rate cut outlook keeps shorter-term yields locked down at lower levels thus forcing the long end of the curve to absorb more of the selling impulse on selling days. As far as 2yr yields are concerned, it's not even really a selling day (they're currently DOWN microscopically). Meanwhile, 10yr yields are almost 4bps higher. We can also consider an underlying concern among
Choose Your Own Market Movement Adventure.
There's a noticeable divergence between long and short term bonds since the Fed announcement, and it's becoming more pronounced today. We can consider a few different reasons with the most basic being that the Fed rate cut outlook keeps shorter-term yields locked down at lower levels thus forcing the long end of the curve to absorb more of the selling impulse on selling days. As far as 2yr yields are concerned, it's not even really a selling day (they're currently DOWN microscopically). Meanwhile, 10yr yields are almost 4bps higher. We can also consider an underlying concern among
11th December, 25
Two-Way Trading But Not Much Day-Over-Day Movement
Two-Way Trading But Not Much Day-Over-Day Movement Bonds had a solid morning, adding moderately to yesterday's rally and taking yields well into the lowest levels since last Friday. But from just after the 9:30am NYSE open, bonds leaked slowly weaker, ultimately ending the day closer to unchanged levels. In the bigger picture, nothing interesting or significant happened, and December 16th (jobs report day) is set to be the only other obviously tradeable day of 2025. Econ Data / Events Jobless Claims 236k vs 220k f'cast Continued Claims 1838k vs 1950k f'cast Market Movement Recap 10:23 AM
Two-Way Trading But Not Much Day-Over-Day Movement
Two-Way Trading But Not Much Day-Over-Day Movement Bonds had a solid morning, adding moderately to yesterday's rally and taking yields well into the lowest levels since last Friday. But from just after the 9:30am NYSE open, bonds leaked slowly weaker, ultimately ending the day closer to unchanged levels. In the bigger picture, nothing interesting or significant happened, and December 16th (jobs report day) is set to be the only other obviously tradeable day of 2025. Econ Data / Events Jobless Claims 236k vs 220k f'cast Continued Claims 1838k vs 1950k f'cast Market Movement Recap 10:23 AM
11th December, 25
Mortgage Rates Hit Lowest Levels of The Week
As is sometimes the case on the day following a Fed day, the bond market carried a bit more momentum in the same direction as yesterday afternoon. Fortunately, the momentum was toward lower rates this time around--a nice break from the past two Fed days which resulted in several days (and weeks) of higher rates. This leaves the average lender roughly in the middle of the range over the past 3 months. These are also the lowest levels seen since last Thursday for the average lender
Mortgage Rates Hit Lowest Levels of The Week
As is sometimes the case on the day following a Fed day, the bond market carried a bit more momentum in the same direction as yesterday afternoon. Fortunately, the momentum was toward lower rates this time around--a nice break from the past two Fed days which resulted in several days (and weeks) of higher rates. This leaves the average lender roughly in the middle of the range over the past 3 months. These are also the lowest levels seen since last Thursday for the average lender
11th December, 25
Correspondent and Broker Products, LOS, Automation, FICO 10T, UAD 3.6 Tools
Lender and Broker Services, Products, and Software For some servicers, the idea of implementing workflow automation is both appealing and overwhelming. Often, knowing where to start is the most challenging part, especially when the path forward isn’t always obvious. Clarifire’s latest blog, “Three Cost-Saving Ways Servicers Are Using Workflow Automation,” explores real-world examples of how servicers are modernizing core processes with measurable results. From one-click trial modification letters to streamlined foreclosure collaboration and automated GSE exception handling, the blog
Correspondent and Broker Products, LOS, Automation, FICO 10T, UAD 3.6 Tools
Lender and Broker Services, Products, and Software For some servicers, the idea of implementing workflow automation is both appealing and overwhelming. Often, knowing where to start is the most challenging part, especially when the path forward isn’t always obvious. Clarifire’s latest blog, “Three Cost-Saving Ways Servicers Are Using Workflow Automation,” explores real-world examples of how servicers are modernizing core processes with measurable results. From one-click trial modification letters to streamlined foreclosure collaboration and automated GSE exception handling, the blog