Latest news
12th March, 26
Mortgage Rates Spike to 2026 Highs
Mortgage rates are driven by the bond market. Although bonds only experienced moderate, steady weakness throughout the day, mortgage rates lurched higher by an amount typically seen when the market is reacting to big, breaking news. But there wasn't any of that sort of news on tap today--just downbeat updates that reinforced a longer timeline for geopolitical disruptions. The bigger issue for mortgage rates is that they often experience heightened volatility when they pass through the 6.25% level. Due to the underlying structure of the mortgage market, 6.25% is sort of a dead zone. If
Mortgage Rates Spike to 2026 Highs
Mortgage rates are driven by the bond market. Although bonds only experienced moderate, steady weakness throughout the day, mortgage rates lurched higher by an amount typically seen when the market is reacting to big, breaking news. But there wasn't any of that sort of news on tap today--just downbeat updates that reinforced a longer timeline for geopolitical disruptions. The bigger issue for mortgage rates is that they often experience heightened volatility when they pass through the 6.25% level. Due to the underlying structure of the mortgage market, 6.25% is sort of a dead zone. If
12th March, 26
Bonds Remain On The Run
The bond market doesn't look like it can catch a break as long as war persists in Iran. If it's not oil, it's fertilizer, nat gas, military spending, or a host of other inflationary knock-on effects that bode ill for the fixed income sector. Yes, the implied economic fallout would help offset the inflationary impulses, but not enough for rates to make downward progress just yet. Bonds will need to get past the point of pricing in another big inflation reckoning for that to happen. Until then, downward progress will be tough to sustain. This morning's headlines (which involve more reports of
Bonds Remain On The Run
The bond market doesn't look like it can catch a break as long as war persists in Iran. If it's not oil, it's fertilizer, nat gas, military spending, or a host of other inflationary knock-on effects that bode ill for the fixed income sector. Yes, the implied economic fallout would help offset the inflationary impulses, but not enough for rates to make downward progress just yet. Bonds will need to get past the point of pricing in another big inflation reckoning for that to happen. Until then, downward progress will be tough to sustain. This morning's headlines (which involve more reports of
12th March, 26
AI Roadmap, UAD 3.6, Repurchase Tools; False Claims Act Rumors; STRATMOR's Subservicing Survey
Products, Services, and Software for Brokers and Lenders Home equity lending is having a moment. The challenge for many lenders? The process behind it still looks like 2015: manual workflows, vendor emails, and too much operational juggling. FirstClose is hosting a 30-minute webinar on March 19 at 1 PM CT that examines how lenders are modernizing home equity operations to move faster without adding complexity. The session will include a walkthrough of the FirstClose platform and Intelligent Order Management Automation, showing how lenders can streamline vendor ordering, reduce manual
AI Roadmap, UAD 3.6, Repurchase Tools; False Claims Act Rumors; STRATMOR's Subservicing Survey
Products, Services, and Software for Brokers and Lenders Home equity lending is having a moment. The challenge for many lenders? The process behind it still looks like 2015: manual workflows, vendor emails, and too much operational juggling. FirstClose is hosting a 30-minute webinar on March 19 at 1 PM CT that examines how lenders are modernizing home equity operations to move faster without adding complexity. The session will include a walkthrough of the FirstClose platform and Intelligent Order Management Automation, showing how lenders can streamline vendor ordering, reduce manual
11th March, 26
General Selling Spree Continues
General Selling Spree Continues It hasn't exactly been perfectly linear, but the month of March has generally been a one-way trade for the bond market. In less than 2 weeks, 10yr yields are up from 3.95 to 4.22+ without any provocation from econ data. Today was another example as CPI came in right in line with forecasts. Despite that apparently decent news, yields rose steadily throughout the morning, and we can't really blame oil prices today (even if higher energy costs are assumed to be very much on the bond market's mind). Newswires the war costing $11bln last week also don't help,
General Selling Spree Continues
General Selling Spree Continues It hasn't exactly been perfectly linear, but the month of March has generally been a one-way trade for the bond market. In less than 2 weeks, 10yr yields are up from 3.95 to 4.22+ without any provocation from econ data. Today was another example as CPI came in right in line with forecasts. Despite that apparently decent news, yields rose steadily throughout the morning, and we can't really blame oil prices today (even if higher energy costs are assumed to be very much on the bond market's mind). Newswires the war costing $11bln last week also don't help,
11th March, 26
Highest Rates in More Than a Month
Mortgage rates moved higher on Wednesday despite only a modest increase in oil prices. The latter is currently a part of any conversation about interest rates as higher energy costs have fueled inflation expectations. Higher inflation begets higher rates, all else equal. But rates take other cues, or course. One key consideration is that of "supply." In other words, how many new dollars of debt are being issued--not just by the U.S. government, but across the entire bond market. At present, government issuance is high and only expected to get higher. Even though congressional approval is
Highest Rates in More Than a Month
Mortgage rates moved higher on Wednesday despite only a modest increase in oil prices. The latter is currently a part of any conversation about interest rates as higher energy costs have fueled inflation expectations. Higher inflation begets higher rates, all else equal. But rates take other cues, or course. One key consideration is that of "supply." In other words, how many new dollars of debt are being issued--not just by the U.S. government, but across the entire bond market. At present, government issuance is high and only expected to get higher. Even though congressional approval is
11th March, 26
Fraud Guard, Capital Markets Data, QC, POS Products; PHH and OptiFunder News; Non-Agency
Technology is a two-edged sword. Have you ever heard of “surveillance pricing?” “Big brother” knows a lot about you. Ridesharing companies like Uber, for instance, can charge users more when they have lower battery life on their phone. “Democrats in Pennsylvania have introduced a bill that would stop retailers from changing the price of essential goods and services in a given 24 hour period.” I’d like to know what “essential” means. When computers and data go awry, look out. And when you combine that with regulators and the U.S. Government, problems can be all-consuming. “
Fraud Guard, Capital Markets Data, QC, POS Products; PHH and OptiFunder News; Non-Agency
Technology is a two-edged sword. Have you ever heard of “surveillance pricing?” “Big brother” knows a lot about you. Ridesharing companies like Uber, for instance, can charge users more when they have lower battery life on their phone. “Democrats in Pennsylvania have introduced a bill that would stop retailers from changing the price of essential goods and services in a given 24 hour period.” I’d like to know what “essential” means. When computers and data go awry, look out. And when you combine that with regulators and the U.S. Government, problems can be all-consuming. “
11th March, 26
Overnight Weakness, Limited CPI Impact, MBS Outperformance
There was a very high bar for today's CPI to cause any serious market reaction due to all the new inflationary impulses that may be created by record volatility in energy markets that hasn't yet made it into the official data. In other words, CPI is a time capsule for a bygone era and the market is already trading the implications on future inflation reports to the best of its ability using oil prices as a proxy. Before the data, 10yr yields were a few bps higher overnight and haven't moved since the data. MBS are unchanged to a hair stronger after accounting for "the roll." Rather than
Overnight Weakness, Limited CPI Impact, MBS Outperformance
There was a very high bar for today's CPI to cause any serious market reaction due to all the new inflationary impulses that may be created by record volatility in energy markets that hasn't yet made it into the official data. In other words, CPI is a time capsule for a bygone era and the market is already trading the implications on future inflation reports to the best of its ability using oil prices as a proxy. Before the data, 10yr yields were a few bps higher overnight and haven't moved since the data. MBS are unchanged to a hair stronger after accounting for "the roll." Rather than
10th March, 26
Afternoon Weakness in Bonds Despite Lower Oil Prices. Will CPI Matter?
Afternoon Weakness in Bonds Despite Lower Oil Prices. Will CPI Matter? Days like today are a problem for a "set it and forget it" mentality when it comes to energy prices and the bond market. On many occasions since the beginning of last week, the correlation between oil prices and bond yields has been plain to see. Additionally, oil price volatility has been the only way to explain much of the movement in bonds. Now this afternoon, bond yields broke higher despite no clear cues from oil. We are left to lean on things like a weak 3yr Treasury auction and general supply pressures surrounding a
Afternoon Weakness in Bonds Despite Lower Oil Prices. Will CPI Matter?
Afternoon Weakness in Bonds Despite Lower Oil Prices. Will CPI Matter? Days like today are a problem for a "set it and forget it" mentality when it comes to energy prices and the bond market. On many occasions since the beginning of last week, the correlation between oil prices and bond yields has been plain to see. Additionally, oil price volatility has been the only way to explain much of the movement in bonds. Now this afternoon, bond yields broke higher despite no clear cues from oil. We are left to lean on things like a weak 3yr Treasury auction and general supply pressures surrounding a
10th March, 26
Mortgage Rates Sideways to Slightly Lower
Today's mortgage rates are lower when compared to yesterday's average prior to 4pm ET. Later in the afternoon, multiple lenders announced improvements as the bond market rallied in response to geopolitical headlines. If we use those later, lower rates as a baseline, today's average is roughly unchanged. There were no major economic reports today--not that bonds have been too keen on reacting to econ data anyway. War-related headlines remain the biggest risk for potential volatility despite historically significant econ data on tap in the coming days.
Mortgage Rates Sideways to Slightly Lower
Today's mortgage rates are lower when compared to yesterday's average prior to 4pm ET. Later in the afternoon, multiple lenders announced improvements as the bond market rallied in response to geopolitical headlines. If we use those later, lower rates as a baseline, today's average is roughly unchanged. There were no major economic reports today--not that bonds have been too keen on reacting to econ data anyway. War-related headlines remain the biggest risk for potential volatility despite historically significant econ data on tap in the coming days.
10th March, 26
BBYS, Trigger Lead, Document Generation, AI Rollout Tools; Pennymac's Spector on Strategy
Products, Services, and Software for Brokers and Lenders What if the biggest driver of servicing costs isn’t your volume, staffing, or vendor stack… but the gaps between them? Clarifire’s new blog, “What’s Really Driving Cost Per Loan in Servicing?” explores a hidden operational challenge many servicing leaders face: systems that are technically connected but operationally fragmented. Every time work moves between systems, teams, or departments, delays and exceptions creep in, and those small gaps scale quickly across thousands of loans. Late-2025 data shows the cost to service non
BBYS, Trigger Lead, Document Generation, AI Rollout Tools; Pennymac's Spector on Strategy
Products, Services, and Software for Brokers and Lenders What if the biggest driver of servicing costs isn’t your volume, staffing, or vendor stack… but the gaps between them? Clarifire’s new blog, “What’s Really Driving Cost Per Loan in Servicing?” explores a hidden operational challenge many servicing leaders face: systems that are technically connected but operationally fragmented. Every time work moves between systems, teams, or departments, delays and exceptions creep in, and those small gaps scale quickly across thousands of loans. Late-2025 data shows the cost to service non