Mortgage Application Demand Finally Bounces

Mortgage applications ticked higher last week, reversing recent declines as easing rates provided a modest boost to activity. The Mortgage Bankers Association (MBA) reported a 1.8% increase on a seasonally adjusted basis for the week ending April 10. Refinance activity led the gain, with the Refinan

Existing Home Sales Remain Flat in The Bigger Picture

Existing-home sales pulled back in March, reversing February’s modest gains as affordability pressures and rising mortgage rates continued to weigh on buyer activity. Sales fell 3.6% to a seasonally adjusted annual rate of 3.98 million , slipping 1.0% below year-ago levels. “March home sales remaine

Dark Matter Changes; Mfg. DPA, QC, AI, Data Decisioning Tools; A Strained Housing Market; Insurance/Climate Interview

The MBA's National Advocacy Conference in DC wrapped up this week, and any time you have a gaggle of mortgage personnel in one place, talk in the hallways inevitably turned to current market conditions. For example, servicing rights have increased in value, and MSR trading multiples are in the mid 5

Why Are Bonds Surging This Morning?

Bonds were modestly and inconsequentially stronger in the overnight session. By 8am, this brought 10yr yields just under 4.30%.  Less than an hour later, yields fell to 4.23 and MBS rose over 3/8ths of a point on a trio of headlines. The first was a detail from a proposed plan to end the war (i