Some Volatility Surrounding Headlines, But Not Much Change Bonds began the day roughly flat before losing ground modestly into the 9am hour as markets mis-read headlines regarding new peace proposals submitted by Iran. But just before 10am, similar headlines resurfaced including the claim that Iran's new proposal made concessions regarding Iran's nuclear aspirations. This accounted for […]
Low volatility was the most obvious theme for mortgage rates last week. From April 14th through last Friday, the range for a top-tier 30yr fixed rate remained in an ultra-narrow range of 6.29-6.33%. That trend persisted on Monday of this week, but things changed abruptly after that. Tuesday and Wednesday saw moderately big increases that […]
The use of down payment assistance has risen sharply over the past year and a half, especially among FHA borrowers. Participation has jumped from 7.5 percent at the start of 2025 to over 21 percent recently, near the highest levels in years, as high home prices and borrowing costs push more buyers to seek help. […]
Bonds were almost perfectly flat during the overnight session along with oil and stock futures. Morning trading ushered in more volatility as the war-related headlines began to heat up. The most significant developments involve reports of a new peace proposal from Iran--one that potentially offers more concessions on nuclear aspirations. News is thin so far, […]
Bonds Recover With Oil, But Not Completely Ever since bottoming out together on the morning of April 17th, bond yields and oil prices have been moving higher together. The early overnight trading hours may have witnessed a bit of a "blow-off top" (fancy words that basically mean markets reversed course simply because they'd gone too […]
Mortgage rates spiked on Wednesday (yesterday) after reports suggested a prolonged blockade of the Strait of Hormuz. As has been the case for most of the past 2 months, interest rate movement was clearly correlated with oil prices. Now today, both are moving back in the other direction though not for reasons that are as […]
Residential construction activity moved in opposite directions in March, as housing starts posted a strong rebound while building permits fell sharply from the previous month’s elevated pace. The latest Census Bureau report suggests builders accelerated new projects even as future pipeline activity softened. Privately owned housing starts rose 10.8% to a seasonally adjusted annual rate […]