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Home Prices Growing Slower, But Outright Prices Still at All-Time Highs
Home price appreciation remained subdued in April, as the latest data from both FHFA and the S&P Cotality Case-Shiller Home Price Indices continued to point to a housing market with little overall momentum. While annual price growth improved modestly from the prior month in both reports, elevated mo
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Red Night, Green Morning After Weaker Jobs Data
Bonds continued drifting gently higher in the overnight session with 10yr yields just barely edging above 4.50% before today's big jobs report (the only calendar event of note before the holiday weekend). The reaction is perfectly reasonable given the data results. The payroll count was weaker (57k
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Bonds Find Some Solace in Warsh Despite a Bit More Selling
Bonds Find Some Solace in Warsh Despite a Bit More Selling The past 2 days have been rough for the bond market--nothing catastrophic, but "brisk" in terms of unexpected selling pressure. To be fair, buying/selling pressure is never truly expected (otherwise, why wait to trade it?), and higher volat
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Mortgage Rates Jump to Highest Levels in a Week
In a real sense, today's rate update is more of an addendum to yesterday's rate update. Yesterday afternoon saw heavy, continued selling in the bond market amid a flood of trading associated with the end of the quarter. Because mortgage rates are directly based on the bond market, this resulted in m
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