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Home Prices Keep Climbing, Just Not Everywhere
Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. The gains remain relatively modest by historical standards, and while nominal prices are still moving higher natio
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Mortgage Rates End Higher Despite Promising Start
Mortgage rates rose 0.04% today to an index value of 7.57% for a top-tier 30yr fixed scenario for the average lender today. That uptick in and of itself isn't especially large, but it's a bit counterintuitive on a day where the hotly anticipated jobs report came in much weaker than expected. The jo
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LOS, Database, Equity, Retention Tools; UAD 3.6 Thoughts; Home Prices vs. Inflation; Weak Jobs Data
“A clear conscience is usually the sign of a bad memory.” How’s your memory of rates, and what you did when they moved higher? 30-year mortgage rates were about at this level, briefly, exactly three years ago, but before that we weren’t here since the late 1990’s when they were at these levels for a
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Why Bonds Aren't More Excited About The Jobs Report
MBS are up more than 3/8ths and the 10yr is down almost 6bps at the lowest levels in a week after the job count came in at 29k vs 90k f'cast. That's the good news. But if it seems like the rally should be bigger for such a hotly anticipated report, there's a reason. First off, we need to remember th
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