Latest news
25th March, 26
Noticeably Lighter Volatility. Why?
Noticeably Lighter Volatility. Why? Wednesday offered a welcome break from the pervasive volatility seen since the start of the Iran war. It was among the narrowest trading ranges of any single day in March, especially during domestic trading hours. This is somewhat surprising considering the preponderance of contradictory newswires and headlines concerning the state of the Iran war (i.e. ceasefire vs more strikes and negotiations vs no communication). If Iran is refuting U.S. claims regarding de-escalation, why would bonds be calmly in stronger territory? Simply put: U.S. claims regarding de-
Noticeably Lighter Volatility. Why?
Noticeably Lighter Volatility. Why? Wednesday offered a welcome break from the pervasive volatility seen since the start of the Iran war. It was among the narrowest trading ranges of any single day in March, especially during domestic trading hours. This is somewhat surprising considering the preponderance of contradictory newswires and headlines concerning the state of the Iran war (i.e. ceasefire vs more strikes and negotiations vs no communication). If Iran is refuting U.S. claims regarding de-escalation, why would bonds be calmly in stronger territory? Simply put: U.S. claims regarding de-
25th March, 26
Rates Ease Despite Conflicting Iran War Headlines
The past 24 hours have seen multiple news stories with seemingly contradictory updates regarding the state of the Iran war. There's a ceasefire. There's no ceasefire. There's negotiation. There's no negotiation, etc. As far as the rate market is concerned, the most important development has been the general appearance of a shift toward diplomacy and resolution on the U.S. side. This has been enough for oil prices to preserve a majority of the drop seen at the start of the week. Bond yields (which correlate with mortgage rates) have been doing even better than oil prices today. The net
Rates Ease Despite Conflicting Iran War Headlines
The past 24 hours have seen multiple news stories with seemingly contradictory updates regarding the state of the Iran war. There's a ceasefire. There's no ceasefire. There's negotiation. There's no negotiation, etc. As far as the rate market is concerned, the most important development has been the general appearance of a shift toward diplomacy and resolution on the U.S. side. This has been enough for oil prices to preserve a majority of the drop seen at the start of the week. Bond yields (which correlate with mortgage rates) have been doing even better than oil prices today. The net
25th March, 26
Non-QM, Data Source, MI Checklist, Pipeline Valuation Class Tools; Farewell PHH Name
Products, Services, and Software for Brokers and Lenders A restaurant can seem like the picture of efficiency…until the kitchen falls behind. Guests are seated, orders are taken, and everything appears to move seamlessly. But when what happens up front is not fully connected to what is happening behind the scenes, delays build quickly, and the experience starts to suffer. Home equity lending is no different. Demand may be strong, but when workflows, systems and fulfillment processes are not aligned, speed slips and opportunities stall. On March 31 at 2 PM ET, join FirstClose for a webinar on
Non-QM, Data Source, MI Checklist, Pipeline Valuation Class Tools; Farewell PHH Name
Products, Services, and Software for Brokers and Lenders A restaurant can seem like the picture of efficiency…until the kitchen falls behind. Guests are seated, orders are taken, and everything appears to move seamlessly. But when what happens up front is not fully connected to what is happening behind the scenes, delays build quickly, and the experience starts to suffer. Home equity lending is no different. Demand may be strong, but when workflows, systems and fulfillment processes are not aligned, speed slips and opportunities stall. On March 31 at 2 PM ET, join FirstClose for a webinar on
25th March, 26
Bonds Showing Some Optimism About Turning Point in The War
There have been various comments from U.S. officials about ending the war for several weeks (i.e. on March 9th, Trump said the war could be over soon). Yesterday's developments (Trump comments on the war being "won" and the 30-day ceasefire news from Israel) are being taken more seriously by markets or at least seriously enough to get trading levels back to where they were after Monday morning's ceasefire/talks news. Oddly enough, oil prices and bond yields are holding onto the gains despite Iran refuting negotiation claims and launching another wave of air strikes
Bonds Showing Some Optimism About Turning Point in The War
There have been various comments from U.S. officials about ending the war for several weeks (i.e. on March 9th, Trump said the war could be over soon). Yesterday's developments (Trump comments on the war being "won" and the 30-day ceasefire news from Israel) are being taken more seriously by markets or at least seriously enough to get trading levels back to where they were after Monday morning's ceasefire/talks news. Oddly enough, oil prices and bond yields are holding onto the gains despite Iran refuting negotiation claims and launching another wave of air strikes
24th March, 26
Juxtaposition of Escalation and De-escalation Keeping Bonds Volatile
Juxtaposition of Escalation and De-escalation Keeping Bonds Volatile Tuesday was notable for financial markets' attempts to trade the Iran war due to the conspicuous juxtaposition of newswires that spoke to opposing developments. Around 1pm ET, troop deployment news sent yields to the highs of the day. A little over an hour later, the newswires gave the impression that the war was almost over--so much so that bonds were willing to retrace most of the 1pm losses. Nonetheless, yields were already elevated by 1pm, which means it was a weaker trading session overall. Material developments in the
Juxtaposition of Escalation and De-escalation Keeping Bonds Volatile
Juxtaposition of Escalation and De-escalation Keeping Bonds Volatile Tuesday was notable for financial markets' attempts to trade the Iran war due to the conspicuous juxtaposition of newswires that spoke to opposing developments. Around 1pm ET, troop deployment news sent yields to the highs of the day. A little over an hour later, the newswires gave the impression that the war was almost over--so much so that bonds were willing to retrace most of the 1pm losses. Nonetheless, yields were already elevated by 1pm, which means it was a weaker trading session overall. Material developments in the
24th March, 26
Highest Mortgage Rates Since August 2025
March 2026 continues to be an unpleasant month for mortgage rates--a fact almost exclusively due to the Iran war. Even if the war were to end today, there's been sufficient disruption to infrastructure and a big enough initial spike in energy prices to create what economists refer to as "second round effects." In simpler terms, this means that inflation expectations and interest rates will not immediately return to February's levels simply because the war is over. That's a premature conversation today when headlines regarding U.S. troop deployment caused rates to jump at 1pm ET. Many mortgage
Highest Mortgage Rates Since August 2025
March 2026 continues to be an unpleasant month for mortgage rates--a fact almost exclusively due to the Iran war. Even if the war were to end today, there's been sufficient disruption to infrastructure and a big enough initial spike in energy prices to create what economists refer to as "second round effects." In simpler terms, this means that inflation expectations and interest rates will not immediately return to February's levels simply because the war is over. That's a premature conversation today when headlines regarding U.S. troop deployment caused rates to jump at 1pm ET. Many mortgage
24th March, 26
ENote, AI, Servicing, Data Tools; Trigger Lead Adjustments; FICO Investigation; Home Price Appreciation is Complicated
Sometimes life comes down to a coin toss. Here in Virginia Beach, at the Southern Trust Mortgage Sales Summit, a conversation topic is originators not leaving their business to chance. Pricing practices are rarely left to chance, and Senator Josh Hawley (R-Mo.) sent a letter to the CEO of Fair Isaac Corporation (FICO), to inform the company of his investigation into FICO’s pricing practices in the mortgage credit scoring market. Public policy is not left to chance either, and tomorrow’s guest on Mortgage Matters at 2PM ET, presented by Lenders One, is Nicole Booth, the Head of Public
ENote, AI, Servicing, Data Tools; Trigger Lead Adjustments; FICO Investigation; Home Price Appreciation is Complicated
Sometimes life comes down to a coin toss. Here in Virginia Beach, at the Southern Trust Mortgage Sales Summit, a conversation topic is originators not leaving their business to chance. Pricing practices are rarely left to chance, and Senator Josh Hawley (R-Mo.) sent a letter to the CEO of Fair Isaac Corporation (FICO), to inform the company of his investigation into FICO’s pricing practices in the mortgage credit scoring market. Public policy is not left to chance either, and tomorrow’s guest on Mortgage Matters at 2PM ET, presented by Lenders One, is Nicole Booth, the Head of Public
24th March, 26
Victory For Cynics as Ceasefire Rebound is Already Over
Even though there were doubts about their scope and impact, yesterday morning's headlines introduced the prospect of some sort of ceasefire in the Iran war. Markets traded accordingly, including the "doubts" part (i.e. there was an initial rebound yesterday and an additional rebound this morning). 10yr yields have now fully erased yesterday morning's gains even though oil prices remain quite a bit lower
Victory For Cynics as Ceasefire Rebound is Already Over
Even though there were doubts about their scope and impact, yesterday morning's headlines introduced the prospect of some sort of ceasefire in the Iran war. Markets traded accordingly, including the "doubts" part (i.e. there was an initial rebound yesterday and an additional rebound this morning). 10yr yields have now fully erased yesterday morning's gains even though oil prices remain quite a bit lower
23rd March, 26
Decent Gains Amid De-Escalation Headlines
Decent Gains Amid De-Escalation Headlines Don't worry about what actually happened, who actually spoke to whom, and the details of the conversations that may or may not have happened. Today's simplest fact is that the President said things that can be filed under the heading of "de-escalation" of the Iran war and markets were obviously and immediately willing to respond. It's the response that's encouraging-regardless of the details. By no means does this constitute the big shift we're waiting for, but it at least suggests such a shift will be possible when the war is truly over.
Decent Gains Amid De-Escalation Headlines
Decent Gains Amid De-Escalation Headlines Don't worry about what actually happened, who actually spoke to whom, and the details of the conversations that may or may not have happened. Today's simplest fact is that the President said things that can be filed under the heading of "de-escalation" of the Iran war and markets were obviously and immediately willing to respond. It's the response that's encouraging-regardless of the details. By no means does this constitute the big shift we're waiting for, but it at least suggests such a shift will be possible when the war is truly over.
23rd March, 26
Mortgage Rates Move Modestly Lower Amid Market Volatility
Mortgage rates are dictated by bonds and bonds had a volatile day. During overnight trading hours, bonds suggested we should brace for the impact of even higher rates. Things changed just after 7am ET following headlines that suggested progress on the Iran war. Although volatility continued in the ensuing hours, bonds ultimately settled in stronger territory (which is good for rates). After ending last week above 6.5% for the first time since early September, the average top-tier 30yr fixed rate fell back to 6.49% today. While it's a step in the right direction, it would take a
Mortgage Rates Move Modestly Lower Amid Market Volatility
Mortgage rates are dictated by bonds and bonds had a volatile day. During overnight trading hours, bonds suggested we should brace for the impact of even higher rates. Things changed just after 7am ET following headlines that suggested progress on the Iran war. Although volatility continued in the ensuing hours, bonds ultimately settled in stronger territory (which is good for rates). After ending last week above 6.5% for the first time since early September, the average top-tier 30yr fixed rate fell back to 6.49% today. While it's a step in the right direction, it would take a