- /
Not Quite The Rally You'd Expect, But a Rally Nonetheless
Not Quite The Rally You'd Expect, But a Rally Nonetheless Today's vitals might be a bit confusing at first glance. Payrolls came in at -23k versus forecasts of 80k. At most moments in history, that would be worth a substantial rally. Today it was only worth 3bps in the 10yr and a quarter point in MB
Read More
Another Modest Drop in Mortgage Apps, But Next Week Should Bounce
Mortgage application activity declined for a second consecutive week as higher borrowing costs continued to weigh on both purchase and refinance demand. The Mortgage Bankers Association (MBA) reported a 2.9% decrease in total application volume on a seasonally adjusted basis for the week ending July
Read More
Cap Mkts Education, Mortgage Ops Support, QC, Flood Cert Tools; Weak Jobs Data
As many of us prepare to head to So Cal for the California MBA’s Western Secondary (800 or so registered), artificial intelligence continues to be the buzz. I recently received this question: “Rob, does it seem to you that we’re now at the same inflection point with AI as when everyone was afraid th
Read More
Much Stronger Start After Negative NFP Print, But...
Nonfarm payrolls (NFP) FELL 23k versus an 80k forecast. Last month was revised down as well. From a traditional market-watching perspective, this is pure rally fuel. Indeed, bonds are rallying sharply so far. Let's hope it sticks. Why wouldn't it? As labor force dynamics have shifted, it doesn't ta
Read More
Categories
Recent Posts
Social Feed
View More