Latest news
29th May, 26
Hedging, Non-QM, FCRA Credit Reports, PreQual, Non-Agency Product News; Capital Markets
U.S. home foreclosures are accelerating: filings rose 26 percent year-over-year in Q1 2026, to roughly 119k, the highest in six years. It’s expensive to own a home! The last time they hit this level (early 2020), government relief programs and pandemic stimulus caused them to decline. As everyone in our biz knows, the increase has been driven by soaring home insurance bills, property taxes, and homeowner association fees rather than mortgage defaults alone. Meanwhile, anyone who thinks that there is a general shortage of homes should re-think that or refine their opinion. Elliot F. Eisenberg
Hedging, Non-QM, FCRA Credit Reports, PreQual, Non-Agency Product News; Capital Markets
U.S. home foreclosures are accelerating: filings rose 26 percent year-over-year in Q1 2026, to roughly 119k, the highest in six years. It’s expensive to own a home! The last time they hit this level (early 2020), government relief programs and pandemic stimulus caused them to decline. As everyone in our biz knows, the increase has been driven by soaring home insurance bills, property taxes, and homeowner association fees rather than mortgage defaults alone. Meanwhile, anyone who thinks that there is a general shortage of homes should re-think that or refine their opinion. Elliot F. Eisenberg
29th May, 26
Flat Overnight And Slow Start
Bonds were flat overnight for a change, with just a bit of 2-way volatility but no notable directional movement. Without any new or interesting war-related headlines, what else can we even discuss in May, 2026? There's some econ data in the form of the highest Chicago PMI reading since 2022. At 62.7 vs a 50.5 forecast, it absolutely obliterated expectations, but even that was worth less than 1bp of weakness in 10yr yields. Both MBS and Treasuries remain close enough to unchanged levels as we head into the 10am ET trading hour
Flat Overnight And Slow Start
Bonds were flat overnight for a change, with just a bit of 2-way volatility but no notable directional movement. Without any new or interesting war-related headlines, what else can we even discuss in May, 2026? There's some econ data in the form of the highest Chicago PMI reading since 2022. At 62.7 vs a 50.5 forecast, it absolutely obliterated expectations, but even that was worth less than 1bp of weakness in 10yr yields. Both MBS and Treasuries remain close enough to unchanged levels as we head into the 10am ET trading hour
28th May, 26
Spoiler Alert: Yes, It Was War Headlines
Spoiler Alert: Yes, It Was War Headlines Need a way to explain overnight weakness in the bond market? War headlines. Need to know why bonds rallied sharply just after 10am ET to hit the best levels in 2 weeks? Yep, more war headlines. Granted, the 8:30am econ data was not completely ignored. A slightly softer-than-expected PCE inflation number helped bonds get back to unchanged levels, but a substantial majority of the day's volume followed the 10am news that essentially suggested the peace deal was approved, pending Trump's final sign off. Later in the day, separate newswires suggested Iran
Spoiler Alert: Yes, It Was War Headlines
Spoiler Alert: Yes, It Was War Headlines Need a way to explain overnight weakness in the bond market? War headlines. Need to know why bonds rallied sharply just after 10am ET to hit the best levels in 2 weeks? Yep, more war headlines. Granted, the 8:30am econ data was not completely ignored. A slightly softer-than-expected PCE inflation number helped bonds get back to unchanged levels, but a substantial majority of the day's volume followed the 10am news that essentially suggested the peace deal was approved, pending Trump's final sign off. Later in the day, separate newswires suggested Iran
28th May, 26
Mortgage Rates Officially Hit 2 Week Lows
We were close yesterday and we officially arrived today. Mortgage rates may still be elevated compared to almost all of the past 10 months, but they're the lowest they've been since May 14th. This was accomplished with a modest drop versus yesterday's levels after another round of news on a potential U.S./Iran peace deal. This morning's inflation data also helped the underlying bond market find its footing. In terms of nuts and bolts, top tier 30yr fixed rates fell to 6.59% for the average lender, down from 6.61% yesterday and from 6.75% last Tuesday. [thirtyyearmortgagerates
Mortgage Rates Officially Hit 2 Week Lows
We were close yesterday and we officially arrived today. Mortgage rates may still be elevated compared to almost all of the past 10 months, but they're the lowest they've been since May 14th. This was accomplished with a modest drop versus yesterday's levels after another round of news on a potential U.S./Iran peace deal. This morning's inflation data also helped the underlying bond market find its footing. In terms of nuts and bolts, top tier 30yr fixed rates fell to 6.59% for the average lender, down from 6.61% yesterday and from 6.75% last Tuesday. [thirtyyearmortgagerates
28th May, 26
Hedging, Verification, CRM, AI, Automated Pricing, Fraud Detection Tools; STRATMOR on AI
What is something that small and mid-sized lenders can’t offer? Chase rolled out a program for borrowers to earn 100,000 Chase Points. (Bilt and UWM rolled out something similar a while back.) But, nearly every lender can help borrowers with the cost of a mortgage, and STRATMOR’s current blog is “Pricing That Can Help Borrowers.” In addition, in the credit world two new automated features for the FICO Score Mortgage Simulator were announced yesterday designed to help lenders move beyond manual “what-if” credit simulations and generate personalized borrower action plans more
Hedging, Verification, CRM, AI, Automated Pricing, Fraud Detection Tools; STRATMOR on AI
What is something that small and mid-sized lenders can’t offer? Chase rolled out a program for borrowers to earn 100,000 Chase Points. (Bilt and UWM rolled out something similar a while back.) But, nearly every lender can help borrowers with the cost of a mortgage, and STRATMOR’s current blog is “Pricing That Can Help Borrowers.” In addition, in the credit world two new automated features for the FICO Score Mortgage Simulator were announced yesterday designed to help lenders move beyond manual “what-if” credit simulations and generate personalized borrower action plans more
28th May, 26
Not The Supertanker Bonds Were Looking For... But We'll Take It
There's a supertanker load of data this morning with some apparently interesting results, but the market remains focused primarily on supertankers being able to transport oil. Those prospects were dealt a fresh blow overnight as both sides reported renewed attacks. Bond yields and oil prices jumped clearly in response, but not in an overly aggressive fashion. And to be fair to this morning's data, it has actually been up to the task of helping yields drop about 2bps back to unchanged levels. Primary credit would have to go to lower than expected monthly PCE prices. Even though PCE is trending
Not The Supertanker Bonds Were Looking For... But We'll Take It
There's a supertanker load of data this morning with some apparently interesting results, but the market remains focused primarily on supertankers being able to transport oil. Those prospects were dealt a fresh blow overnight as both sides reported renewed attacks. Bond yields and oil prices jumped clearly in response, but not in an overly aggressive fashion. And to be fair to this morning's data, it has actually been up to the task of helping yields drop about 2bps back to unchanged levels. Primary credit would have to go to lower than expected monthly PCE prices. Even though PCE is trending
27th May, 26
In a Shocking Twist, Bonds Relive Another Groundhog Day
In a Shocking Twist, Bonds Relive Another Groundhog Day The present week began on a stronger note thanks to news that came out on Monday regarding a U.S./Iran peace deal being within reach. This time around, it was the fact that Iran's state TV shared a draft of the framework for the memo that serves as the stop-gap peace deal while full details are negotiated. It turns out that this draft wasn't obviously different from the one referenced on Monday, but markets remain cautiously willing to react to the same repackaged news time and again as if repetition increases the chance that the
In a Shocking Twist, Bonds Relive Another Groundhog Day
In a Shocking Twist, Bonds Relive Another Groundhog Day The present week began on a stronger note thanks to news that came out on Monday regarding a U.S./Iran peace deal being within reach. This time around, it was the fact that Iran's state TV shared a draft of the framework for the memo that serves as the stop-gap peace deal while full details are negotiated. It turns out that this draft wasn't obviously different from the one referenced on Monday, but markets remain cautiously willing to react to the same repackaged news time and again as if repetition increases the chance that the
27th May, 26
Mortgage Rates Hold Lowest Level in Nearly 2 Weeks
Early in the trading session, the bond market began improving in response to more updates on a potential Iran peace deal. When bonds improve, rates fall, but the initial reaction proved short-lived. Thankfully, the reversal didn't do any new damage. This allowed the average lender to keep rates right in line with yesterday's 6.61% for a top-tier 30 year fixed. You'd have to go back to May 14th to see anything lower
Mortgage Rates Hold Lowest Level in Nearly 2 Weeks
Early in the trading session, the bond market began improving in response to more updates on a potential Iran peace deal. When bonds improve, rates fall, but the initial reaction proved short-lived. Thankfully, the reversal didn't do any new damage. This allowed the average lender to keep rates right in line with yesterday's 6.61% for a top-tier 30 year fixed. You'd have to go back to May 14th to see anything lower
27th May, 26
AI Leveraging, Lead Engagement, Servicing, Compliance Tools; Non-Agency Product News
How ‘bout this one: A firefighter went to the college graduation ceremony for a baby he helped deliver many years ago. Loan originators can be involved in many life events of their clients as well, as the months and years roll on, something that a software program can’t do. They’re also in a great position to explain the nuances of the summer home buying season to clients. They know that rates aren’t the only thing making homes unaffordable. The median home price rose from $274,900 in Q4 2019 to $414,900 in Q4 2025, according to the National Association of Realtors. That has affected
AI Leveraging, Lead Engagement, Servicing, Compliance Tools; Non-Agency Product News
How ‘bout this one: A firefighter went to the college graduation ceremony for a baby he helped deliver many years ago. Loan originators can be involved in many life events of their clients as well, as the months and years roll on, something that a software program can’t do. They’re also in a great position to explain the nuances of the summer home buying season to clients. They know that rates aren’t the only thing making homes unaffordable. The median home price rose from $274,900 in Q4 2019 to $414,900 in Q4 2025, according to the National Association of Realtors. That has affected
27th May, 26
Stronger Start on Yet Another Peace Deal Headline
It seems that we've seen slight variations on the same peace deal news for the past several days. That's probably because there is an actual peace deal that's probably near the actual finish line and that's probably why the market is actually willing to trade it. This morning's headlines were as simple as any recent example: Iran's state TV obtained a draft of the peace framework with the key inclusion being a commitment to restoring commercial traffic through Hormuz within one month. Bond yields dropped about 2bps on the news and MBS rallied about an eighth of a point--fairly tame, but
Stronger Start on Yet Another Peace Deal Headline
It seems that we've seen slight variations on the same peace deal news for the past several days. That's probably because there is an actual peace deal that's probably near the actual finish line and that's probably why the market is actually willing to trade it. This morning's headlines were as simple as any recent example: Iran's state TV obtained a draft of the peace framework with the key inclusion being a commitment to restoring commercial traffic through Hormuz within one month. Bond yields dropped about 2bps on the news and MBS rallied about an eighth of a point--fairly tame, but