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Determining when to buy a home is a personal decision with many variables. Some may try to pinpoint the "perfect time" and end up waiting themselves out of the market, while prices and interest rates rise. Read More

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Mortgage Market Ridiculously Good or Just Ridiculous?

Posted To: Mortgage Rate Watch

It should no longer come as a surprise that the pandemic continues to create never-before-seen circumstances in all corners of society. Here in the housing and mortgage markets, one of the first major manifestations of the crisis was a quick move to incredibly low rates. With record after record being set in close succession, the mortgage environment has been ridiculously good for most homeowners. For others, it's just been ridiculous. Record low rates make a lot of sense given the economic outlook. In general, economic weakness coincides with lower rates, and there's been plenty of that to go around. On the other hand , much of the economic weakness is assumed to be temporary . How much is anyone's guess, but until we see where those chips fall, both sides of the market (stocks and bonds)...(read more)

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MBS RECAP: Big Scary Reversal in Bonds (Spoiler Alert: It Wasn't That Scary)

Posted To: MBS Commentary

Big Scary Reversal in Bonds (Spoiler Alert: It Wasn't That Scary) Just as bonds were settling into a nice new trend toward lower yields, today comes along with the biggest intraday reversal in weeks. But even if the weakness was twice as big, bonds would still be in a great place and we still wouldn't be seeing a major cause for concern. That will change some day, but it didn't change today. Econ Data / Events 11:30-11:50 AM (ET) - Fed 30yr UMBS Buying Core Annual Wholesale Inflation (PPI) 0.1 vs 0.4 f'cast , 0.3 prev Market Movement Recap 08:16 AM Stocks and bond yields both slumped overnight. Once again, bonds continued to improve even as stocks bounced. 10yr yields down 3+ bps at .582 (range floor), and UMBS 2.0 opening up 3 ticks (.09) at 103-03 (103.09). 12:09 PM MBS remaining...(read more)

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