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Why Were 10yr Yields Only a Few bps Lower Today?
Why Were 10yr Yields Only a Few bps Lower Today? If you missed this morning's commentary, the gist is that inflation for June (via the CPI report) came in much lower than forecast (biggest "miss" in over a year). Given the market's preoccupation with inflation, this logically resulted in an immediat
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Mortgage Rates Stage Moderate Recovery From Long-Term Highs
Our daily 30yr fixed rate index hit 6.75% yesterday. This matched the high from May 19th and is the highest level since late July 29, 2025. The key contributor to the recent spike has been the uptick in fuel prices in July combined with the fact that rates never made it any lower than 6.52% over the
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CRA, Call Report, Non-QM U/W Tools; ROAD to Housing Bill Viewed; Immigration and Credit Reminder
Ever heard someone say something that was blatantly misleading? On July 16, at 2PM ET, you can race to buy one of Olive Garden’s 10,000 “Never Ending Pasta Passes.” But it does end, after 13 weeks. Yup, for $100 you can economically gain a lot of weight, since it’s in our DNA to do so. Speaking of D
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Strong Start After Sharply Lower CPI
The Consumer Price Index came in FAR below expectations with a core reading of 0.0 vs 0.2 forecasts. In unrounded terms, it was -0.17%. Headline CPI was more sharply negative than expected at -0.4 vs a -0.1 forecast. Supercore (which excludes housing) was down -0.2 which is the first negative readin
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