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Slightly Weaker, But Much Stronger on The Week
Slightly Weaker, But Much Stronger on The Week Friday was calm and sideways in the bigger picture. Sure, a 4+ bp increase in 10yr yields and an MBS decline of just over an eighth of a point might sound somewhat unpleasant on the average day, but considering we saw 4 times as much movement in the oth
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Modest Uptick in Rates But Still Near 1-Month Lows
Yesterday was an exciting day for rates with the lowest levels since September 23rd and a fairly brisk decline versus the previous day. Today? Fairly boring by comparison. Rates were technically a hair higher, which isn't too surprising given the prevailing motivations in the tech sector. Yesterday
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Mortgage Applications Aren't Ready to Rebound Just Yet
Mortgage applications continued to decline even as mortgage rates finally moved lower. The Mortgage Bankers Association (MBA) reported a 5.3% drop in total application volume for the week ending October 16, despite the first weekly decline in mortgage rates in more than two months. The average 30-ye
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Building Permits Hold Steady Despite Slide in Housing Starts
Residential construction failed to find even footing in September, with housing starts declining and single-family building permits pulling back, while total permits held nearly steady and completions edged higher. This week's Census Bureau data highlights weakness in new construction, particularly
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