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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
Rate sheets this morning likely to be a bit worse than yesterday, and loans are facing a decision of whether to lock or float ahead of tomorrow’s jobs data. Reprice risk today is low, not much to worry about. The outlook today is much brighter than a week ago, with the door open to see
READ MOREWRAP UPUMBS 6.0: 100.11 (-8bps)10yr yield: 4.12 Bonds losing steam in the late afternoon, could see some late day lender reprices worse. Never a bad idea to consider locking risk averse and near term, unless planning on floating into Friday’s jobs data to see what that brings. I’m no clairvoyant, all I can tell you
READ MOREMBS OVERVIEW Taking it to the House: The June FHFA Housing Price Index showed a MOM increase of 0.3% versus estimates of 0.2%. The June Case Shiller Metro City YOY Index dropped by -1.2% versus estimates of -1.3%. Jobs, Jobs, Jobs: The July Job Openings and Labor Turnover Survey (JOLTS) showed 8.827M unfilled jobs versus
READ MOREWRAP UPUMBS 6.0: 99.73 (+16bps)10yr yield: 4.21If repriced better today, consider taking it, otherwise todays gains give some protection to floating into tomorrow. Again, there is little reason to believe that rates will fall much from here, but any improvement we do see will come from weak labor data and could start with tomorrows JOLTS
READ MOREIn this episode, Michael Harris talks about why a home equity line of credit with a higher number could be better than your first mortgage with a lower number. He discusses ITIN loans, DSCR loans, and interest rates. Michael also delves into interest rate versus interest volume, why having mortgages equates to having debts,
READ MORERate sheets will come out reflecting whatever take the market has on Fed Chair Jerome Powell’s speech from Jackson Hole today at 10:05am ET. The initial start to the day sees mortgage bonds a bit on the weaker side, and if pricing came out right now it would be slightly worse than yesterday. However, there
READ MORERate sheets likely to give back some of yesterday’s gains, which didn’t quite match up to the gains in bonds to begin with. What I mean is that mortgage bonds improved to levels last seen 8/14, when rates were .375 to .25% better. However, most rate sheets improved about .125%, some a little more. That’s
READ MOREWRAP UPUMBS 6.0: 99.61 (+52bps)10yr yield: 4.19 Bonds rallied early and peaked as pricing came out around 10am ET, holding the gains all day but not improving further. Tomorrow could bring more improvement to rate sheets, but it is far from guaranteed. Is it worth floating into tomorrow to try for more? Depends on what
READ MOREWRAP UPUMBS 6.0: 99.05 (-3bps)10yr yield: 4.33 Bonds improved a bit through the day, and a handful of lenders improved pricing from this morning. However, this is far from anything to get overly excited about, as most rate sheets are still trending worse… just at a slower pace. Advice remains to lock all loans, even
READ MOREWRAP UPUMBS 6.0: 99.08 (-34bps)10yr yield: 4.34 When the bleeding stops, rates will hold these higher levels, not move lower again. Until that happens, we will continue to see rates move higher as markets adjust to this “new normal” of a strong economy and labor market with declining inflation. Consumer credit is driving the economy,
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