
Half-Hearted Correction Continues
Half-Hearted Correction Continues Don't call it a correction. Yields may have rallied 30bps in just over a week and apparently bounced almost perfectly at 4% (10yr), but they haven't exactly done much over the past 2 days. It's just as fair to say things are "sideways and waiting for guidance,
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Residential Construction Finds Footing in December
What goes down must come up? Definitely not always the case, but true this time for residential construction numbers. The Census Bureauβs latest report showed a rebound in December, with both housing starts and building permits moving higher after softer readings in prior months. Privately owned hou
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Higher Refi Demand Buoys Mortgage Apps as Rates Hit Lows
Mortgage application activity picked up last week with the Mortgage Bankers Association (MBA) reporting an increase of 2.8% on a seasonally adjusted basis for the week ending February 13. Refi applications were in the driver's seat, and although it was hardly a "jump", the Refinance Index did increa
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Builder Confidence Remains Subdued
Builder confidence fell for the second straight month in February according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Affordability pressures and elevated construction costs continued to hamper already gloomy sentiment. While the move was modest in o
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