Mortgage News Daily:
Even Crazier Than Last Week: Rates Briefly Topped 7% For 1st Time in 20 Years
9/30/2022 7:48 PM
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Month-End Selling Keeps Rates Range-Bound
9/30/2022 3:25 PM
Month-End Selling Keeps Rates Range-Bound You"ve perhaps heard of month-end bond buying?  How about month-end selling?  We had some of the former earlier in the session with a reversal toward weaker levels at the 3pm CME close.  PCE inflation data wasn"t traded this morning.  Early cues ...Read More
PCE Faced a High Bar to Move Markets Today. It Didn"t Clear It
9/30/2022 11:04 AM
Today"s calendar may have contained what the Fed refers to as its preferred inflation metric (Core PCE price index), but it was never likely to be a big market mover due to the market"s established pattern of trading inflation surprises immediately after the CPI data (which comes out 2 weeks earlier).  As such, it"s no surprise to see no react...Read More
AE, LO Jobs; Dashboard, Processing, CRM, DPA Products; Freddie and Fannie Updates
9/30/2022 9:41 AM
If you’ve ever had to hire people, did you sort your applications into three piles: Mad, Hopeless, or Possible? For his Antarctic expeditions, Ernest Shackleton did, and thank you to Fairway Independent’s Guy Schwartz for sending along this article on recruiting. (At least click on the link to look at photos of when men were men, not like we are no...Read More
Crazy Volatility Continues as Rates Head Back Up
9/29/2022 4:31 PM
"The following information is deemed reliable only through September 29th, 2022.  After that, rates could be as much as .25-.50% higher or lower. " Every daily rate update needs to come with that sort of disclaimer these days.  We"ve been seeing some of the biggest day-to-day changes (and intraday changes) since our daily record keeping ...Read More
Data Dependent Reality Keeps Bonds in Check
9/29/2022 3:26 PM
Data Dependent Reality Keeps Bonds in Check Wednesday"s emergency bond buying announcement from the BOE served to cap the death spiral that had been underway in bond yields, but not as an impetus for a sustained push in the other direction.  In other words, it only really made a suggestion about the ce...Read More
Cap. Mkts., CRM, Appraisal Bias, Pre-Qual Products; October Events and Webinars; S&D Loan Pricing Where?
9/29/2022 9:45 AM
Water is a powerful force: just check out this time lapse storm surge video from Ft. Meyers in Florida. Turning to metaphors, Sun Tzu said, “If you wait by the river long enough, the bodies of your enemies will float by.” Some investors and lenders may have adopted that phrase. We’re staring at the autumn and winter, and its ugly out there. Cutting...Read More
Bumpy Road Back to Lower Rates
9/29/2022 8:51 AM
Wednesday"s rally offered hope after the BOE stepped in with emergency bond buying.  The overnight session that followed painted a slightly less hopeful picture.  Yields were flat to slightly higher in Asia, but then sharply higher after record inflation readings in Germany"s biggest region.  The UK continues to double down on the fi...Read More
Huge Reversal For Mortgage Rates. No Promises of Sustainability
9/28/2022 4:33 PM
If you"re just getting caught up, mortgage rates broke above 7% yesterday for the first time since 2002.  Read our coverage to learn more about why rate quotes are all over the board: Yes, Mortgage Rates Are Now Over 7%, But It"s Complicated. Today was an entirely different day.  In fact, rates dropped not only back below yesterday"s lev...Read More
Is Wednesday"s Rally Enough to Turn The Tide?
9/28/2022 3:57 PM
Is Wednesday"s Rally Enough to Turn The Tide? 10yr yields began the day with overnight levels easily over 4.00%.  It wasn"t until the 6am emergency bond buying announcement from the Bank of England (BOE) that yields began to plummet.  While US 10s didn"t quite enjoy the 50bp rally seen in British ...Read More

Today's Rates

Mtg Loan Rate APR
30-yr Fixed 6.7% 6.76%
15-yr Fixed 5.96% 6.16%
1-yr Adj 5.3% 1.2%
* national averages
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