Mortgage rates plunged well into new all-time lows this week, which is a striking turn of events given the vastly different outlook at the end of last week. Specifically, a series of strong economic reports led to significant losses in the bond market (bond losses = higher rates) and gains in stocks. The unspoken warning was that rates had been …

Mortgage rates plunged well into new all-time lows today. This is a striking turn of events given the vastly different outlook at the end of last week. Specifically, a series of strong economic reports led to significant losses in the bond market (which implies higher rates) and gains in stocks. The unspoken warning was that rates had been too complacent …

Mortgage rates dropped quickly today. This wasn’t necessarily destined to be the case this morning, but after the Fed released its most recent policy announcement, mortgage-backed bonds improved significantly, thus allowing lenders to offer lower mortgage rates via mid-day price changes. Bonds loved what the Fed had to say because the announcement unequivocally committed to ongoing bond purchases in amounts …

Last week saw rates rise at the fastest pace in months in an apparent lift-off from an extended stint near all-time lows. Now the current week looks vastly different with bonds set to improve significantly for a 2nd straight day. Is it already time to talk about last week’s highest yields being the ceiling for now? Sure! We can TALK …

Black Knight says that only three months after the national delinquency rate hit a record low, falling 1.5 percentage point below its pre-Great Recession average in January, it skyrocketed to 6.45 percent. This is a 3.1 percent change in April alone, the largest single-month increase on record and nearly triple the previous record , a November 2008 surge. During the …

A joint release from the Consumer Financial Protection Bureau (CFPB) and the Conference of State Bank Supervisors cautions mortgage servicers about their obligations in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act. The Act includes provisions granting a right to forbearance to mortgaged homeowners impacted by the COVID-19 pandemic. Under these provisions, servicers of federally-backed mortgages including …

Mortgage rates are directly tied to the bond market. This isn’t too much of a surprise considering pretty much anything with an interest rate can be traced back to the bond market. Mortgages are especially relevant though, considering they comprise a very large dollar amount of the debt that’s bought and sold in the market every day. In order to …

Mortgage rates were decisively higher today as the bond market lost ground due to surprisingly strong economic data. Mortgage rate movement is mainly a factor of mortgage bond prices. In turn, mortgage bonds tend to move in broadly the same direction as the US Treasury market. That’s why so many people think mortgage rates are based on 10yr Treasury yields. …