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24th July, 25
Reasonably Resilient After Data-Driven Selling
Reasonably Resilient After Data-Driven Selling This morning's Jobless Claims report was the week's most relevant economic report apart from the S&P PMI data that came out just over an hour later. As it happened, Claims garnered the only obvious response, pushing yields slightly higher in addition to the modest weakness seen in the overnight session. Bonds were able to push back in a friendlier direction at the 9:30am NYSE open--something they've done on 3 out of 4 days this week. It wasn't quite enough to turn a red day green, but with MBS ending down only 2 ticks (.06), some
Reasonably Resilient After Data-Driven Selling
Reasonably Resilient After Data-Driven Selling This morning's Jobless Claims report was the week's most relevant economic report apart from the S&P PMI data that came out just over an hour later. As it happened, Claims garnered the only obvious response, pushing yields slightly higher in addition to the modest weakness seen in the overnight session. Bonds were able to push back in a friendlier direction at the 9:30am NYSE open--something they've done on 3 out of 4 days this week. It wasn't quite enough to turn a red day green, but with MBS ending down only 2 ticks (.06), some
24th July, 25
Mortgage Rates Drift Slightly Higher Again
After falling for 5 straight days leading into Tuesday, mortgage rates have now moved slightly higher on each of the past two days. As was the case with the improvement, the bounce back has been exceedingly modest in its pace. In fact, most borrowers will be seeing the same rates today vs last week with only minor changes in upfront costs. Today was the only day of the present week with any meaningful economic data. This is relevant because rates are based on bonds and economic data is a key source of motivation for bond movement, but it depends on the data in question. For instance,
Mortgage Rates Drift Slightly Higher Again
After falling for 5 straight days leading into Tuesday, mortgage rates have now moved slightly higher on each of the past two days. As was the case with the improvement, the bounce back has been exceedingly modest in its pace. In fact, most borrowers will be seeing the same rates today vs last week with only minor changes in upfront costs. Today was the only day of the present week with any meaningful economic data. This is relevant because rates are based on bonds and economic data is a key source of motivation for bond movement, but it depends on the data in question. For instance,
24th July, 25
Hedging, Correspondent, AI Answer, Subservicing, Processing, Fee Modeling Tools; Classes, Training, and Webinars
July 24… While much of the nation swelters, if you live in Utah, it’s Pie and Beer Day. Uh, I mean, Pioneer Day. The average home in Utah now costs $517,000, a 1 percent increase from last year, per this article and very manageable. If this article (showing state-level fraud rankings) is to be believed, Utah has steered clear of a high mortgage scam ranking. Good job! For more good news, LOs are watching nationwide stats and trends for marketing purposes. Today will be another episode of The Big Picture at 3PM ET (click here to register) sponsored by Depth and featuring Nikki Bialka who
Hedging, Correspondent, AI Answer, Subservicing, Processing, Fee Modeling Tools; Classes, Training, and Webinars
July 24… While much of the nation swelters, if you live in Utah, it’s Pie and Beer Day. Uh, I mean, Pioneer Day. The average home in Utah now costs $517,000, a 1 percent increase from last year, per this article and very manageable. If this article (showing state-level fraud rankings) is to be believed, Utah has steered clear of a high mortgage scam ranking. Good job! For more good news, LOs are watching nationwide stats and trends for marketing purposes. Today will be another episode of The Big Picture at 3PM ET (click here to register) sponsored by Depth and featuring Nikki Bialka who
24th July, 25
Some Selling Before and After Jobless Claims
Jobless claims data continues to defy a majority of other labor market metrics in showing a remarkable lack of any signs of softening. In fact, the 4 week average is now at a 13 week low. While this isn't the most highly consequential econ data, it's one of this week's only actionable reports. As such, bonds are undergoing a small but negative reaction, adding to moderate overnight weakness
Some Selling Before and After Jobless Claims
Jobless claims data continues to defy a majority of other labor market metrics in showing a remarkable lack of any signs of softening. In fact, the 4 week average is now at a 13 week low. While this isn't the most highly consequential econ data, it's one of this week's only actionable reports. As such, bonds are undergoing a small but negative reaction, adding to moderate overnight weakness
23rd July, 25
Broadly Calm Despite Modest Pull-Back
Broadly Calm Despite Modest Pull-Back If anything about the present week required investigation and explanation, it was the justification for fairly decent gains right out of the gate. Today's weakness, by comparison, is more logical. Why? Broader momentum is sideways and volatility should be lower this week vs last. A bit of of a pull-back on Wednesday means bonds are doing a good job of keeping things sideways. For those determined to assign blame, we could perhaps turn to the US/Japan trade deal progress that apparently helped stocks and hurt bonds in the overnight session. At the
Broadly Calm Despite Modest Pull-Back
Broadly Calm Despite Modest Pull-Back If anything about the present week required investigation and explanation, it was the justification for fairly decent gains right out of the gate. Today's weakness, by comparison, is more logical. Why? Broader momentum is sideways and volatility should be lower this week vs last. A bit of of a pull-back on Wednesday means bonds are doing a good job of keeping things sideways. For those determined to assign blame, we could perhaps turn to the US/Japan trade deal progress that apparently helped stocks and hurt bonds in the overnight session. At the
23rd July, 25
Mortgage Rates Tick Higher, But Just Barely
It's been a pretty good run for mortgage rates since hitting their most recent highs last Tuesday. Each subsequent day saw a modest improvement. That winning streak finally ended today, but just barely. The average top tier 30yr fixed rate was only 0.01% higher compared to yesterday. For all practical purposes, that means that rates have been flat soo far this week after starting out just a bit lower than last week. There haven't been any major sources of motivation in terms of economic data. Headlines surrounding trade deals have made for some barely-noticeable reactions in the
Mortgage Rates Tick Higher, But Just Barely
It's been a pretty good run for mortgage rates since hitting their most recent highs last Tuesday. Each subsequent day saw a modest improvement. That winning streak finally ended today, but just barely. The average top tier 30yr fixed rate was only 0.01% higher compared to yesterday. For all practical purposes, that means that rates have been flat soo far this week after starting out just a bit lower than last week. There haven't been any major sources of motivation in terms of economic data. Headlines surrounding trade deals have made for some barely-noticeable reactions in the
23rd July, 25
High Prices and Rates Keep Home Sales Near Cycle Lows
Two months ago, existing home sales hit a five-month low. Last month’s report showed a minor rebound. This month’s update, released July 23, shows a return to weakness. Sales declined 2.7% in June to a seasonally adjusted annual rate of 3.93 million. That leaves activity just above the recent low and still 25% below long-term norms. Year-over-year, sales were unchanged nationally. As has been and continues to be the case, zooming out on the same chart results in an entirely different impression of the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three
High Prices and Rates Keep Home Sales Near Cycle Lows
Two months ago, existing home sales hit a five-month low. Last month’s report showed a minor rebound. This month’s update, released July 23, shows a return to weakness. Sales declined 2.7% in June to a seasonally adjusted annual rate of 3.93 million. That leaves activity just above the recent low and still 25% below long-term norms. Year-over-year, sales were unchanged nationally. As has been and continues to be the case, zooming out on the same chart results in an entirely different impression of the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three
23rd July, 25
Weaker Start After Japan Trade Deal
The analytical theme this week has been to observe the market movement and then go scrambling for justification. Such is the nature of a week without any actionable econ data. This morning's example involves yesterday evening's announcement of a trade deal with Japan which can generally be credited with boosting stocks and hurting bonds in the overnight session. There's been just a bit more selling as domestic trading ramps up for the day, but not enough to break above this week's high yields
Weaker Start After Japan Trade Deal
The analytical theme this week has been to observe the market movement and then go scrambling for justification. Such is the nature of a week without any actionable econ data. This morning's example involves yesterday evening's announcement of a trade deal with Japan which can generally be credited with boosting stocks and hurting bonds in the overnight session. There's been just a bit more selling as domestic trading ramps up for the day, but not enough to break above this week's high yields
23rd July, 25
Mortgage Apps Eke Out Small Gain Thanks to Purchase Activity
Mortgage application activity managed a modest increase last week despite slightly higher rates. The Mortgage Bankers Association’s (MBA) weekly survey showed a 0.8% rise in the seasonally adjusted Composite Index for the week ending July 18, 2025. “Mortgage rates moved higher last week, with the 30-year fixed rate edging up to 6.84 percent, the highest level in four weeks,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications finished the week higher, driven by conventional purchase loans, and continue to run ahead of last year’s pace. After
Mortgage Apps Eke Out Small Gain Thanks to Purchase Activity
Mortgage application activity managed a modest increase last week despite slightly higher rates. The Mortgage Bankers Association’s (MBA) weekly survey showed a 0.8% rise in the seasonally adjusted Composite Index for the week ending July 18, 2025. “Mortgage rates moved higher last week, with the 30-year fixed rate edging up to 6.84 percent, the highest level in four weeks,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications finished the week higher, driven by conventional purchase loans, and continue to run ahead of last year’s pace. After
23rd July, 25
CFPB Warning; Elizabeth Warren & Bill Pulte; Non-Agency News
The residential lending industry touches all facets of life, and the best LOs are not focused strictly about mortgages. I start off this Commentary with a note about… pets. Yep. Apparently, shelters are overwhelmed with animals. If you’re looking for an animal, or know someone who is, now is especially a good time to adopt. (My cat Myrtle came from “a pound”… they have more character!) LOs also are good at following non-mortgage debt since it is another way to help clients. Did you know that there is more student debt than credit card debt? Yup: $1.8 trillion versus $1.1 trillion. Of
CFPB Warning; Elizabeth Warren & Bill Pulte; Non-Agency News
The residential lending industry touches all facets of life, and the best LOs are not focused strictly about mortgages. I start off this Commentary with a note about… pets. Yep. Apparently, shelters are overwhelmed with animals. If you’re looking for an animal, or know someone who is, now is especially a good time to adopt. (My cat Myrtle came from “a pound”… they have more character!) LOs also are good at following non-mortgage debt since it is another way to help clients. Did you know that there is more student debt than credit card debt? Yup: $1.8 trillion versus $1.1 trillion. Of
Mortgage AgentAnkit ParekhLocation ScarboroughLicense M23004851- 
