Mortgage rates moved higher for the 6th day in a row on Tuesday and to the highest levels since January, 2025. The average top-tier 30yr fixed rate is up to 7.22% and the most prevalently-quoted top-tier rate is 7.25%. Over the past 6 days, the average is up 0.33%, which is is the most abrupt […]
Today we’re in Dallas for the Loan Vision Innovation Conference 2026, and LV recently rolled out its AI accounting software Luna. The CEOs, CFOs, and Controllers here are focused on measuring, analyzing, and interpreting data, including volume. MCT's September Indices Report reflects a total lock volume decline month over month in August, with purchase and […]
With no meaningful econ data on tap today and no high stakes events, bonds are left to watch news headlines and attend to last-minute positioning goals before tomorrow's Fed announcement. There's a bit more of a disconnect between oil prices and bond yields than normal today. Earlier in the overnight session, yields actually led the […]
Decent Mid-Day Recovery But No Change to Bigger Picture Monday wasn't too different from last Friday in that the bond market began the day with AM volatility that gave way to minimally changed yields by the close. The order was reversed, however, with the weaker trading in the AM and rally back to unchanged levels […]
On average, the top-tier 30yr fixed mortgage rate moved up to another new long-term high today of 7.17%. You'd have to go back to January, 2025 to see anything higher. That said, there's more variability than normal today depending on the lender. Bonds (which dictate rates) were at their weakest levels of the day right […]
Yes, the college game was amazing Saturday night here in Austin, but there’s also IMN’s HELOCs & Second Liens event. The markets know that it is a hot topic. Do “the markets” care about a $40 trillion U.S. deficit? Yes. Does any politician seem able to curb spending, or be elected to do it? Not […]
Selling continues to be the path of least resistance for the bond market. Open interest data from Treasury futures suggests Friday's "short-covering" assessment may not be the only story. Reason being: open interest moved HIGHER (it would be much easier to conclude short-covering drove the move if open interest was lower). The counterpoint is that […]