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Borrower Retention, AI Governance, Jumbo Products; Borrower Recapture Trends; MLO Opportunity Thoughts
Around the country, originators seem less focused on the housing bill signing ceremony postponement than on “opportunity.” There are opportunities, but not for every LO. There is the opportunity (and goal) of senior management to make their company immune from economic and world political turmoil. T
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Decent Start After PCE Comes in On-Target
The PCE price index may be a less timely report than CPI/PPI when it comes to measuring inflation in the U.S., but it's more thorough and has stronger implications for Fed policy. Traders were apparently braced for today's number to be a bit hotter. Bonds rallied moderately after core monthly PCE ca
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What's Up With Today's Big Rally? (Spoiler Alert: Quarter-End Rebalancing)
What's Up With Today's Big Rally? (Spoiler Alert: Quarter-End Rebalancing) Stocks went on a tear in Q2 with the S&P up 20% as recently at June 16th. AI-adjacent stocks were up over 50%. Bonds lost ground over the same time. That means the 60/40 stock/bond portfolio targets were thrown way out of wha
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Mortgage Rates Quickly Approaching 1-Month Lows
Rate momentum shifted noticeably on Wednesday. The underlying bond market saw heavy buying in pre-market trading--likely a result of large-scale quarter-end rebalancing among the largest money managers (i.e. adjusting balance of stocks vs bonds in investment portfolios). Excess demand for bonds = lo
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