• August 18, 2023
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WRAP UPUMBS 5.5: 97.58 (-16bps)10yr yield: 4.29 Bonds clawing back some gains after hitting the worst levels of the day and triggering some reprices worse, but nothing to be excited about. The outlook remains that we will see rates move higher, and the advice remains to lock. Rate sheets likely to be similar to yesterday,

• August 18, 2023
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  Get ready for an enlightening episode that could transform your financial journey! Join Michael Harris as he explores the world of responsible money management and smart mortgage choices, from the lens of his over 37 years of experience in the industry. Whether you’re just stepping into homeownership, looking to invest, or seeking to optimize

• August 17, 2023
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WRAP UPUMBS 5.5: 97.58 (-16bps)10yr yield: 4.29 Bonds clawing back some gains after hitting the worst levels of the day and triggering some reprices worse, but nothing to be excited about. The outlook remains that we will see rates move higher, and the advice remains to lock. Rate sheets will continue to lose ground this

• August 16, 2023
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WRAP UPUMBS 5.5: 97.71 (-20bps)10yr yield: 4.26 Rates continue to levels not seen since the aughts, and there is no real reason to expect that to stop in the near future. Lots of reprices worse today as bonds lost ground through the afternoon, not to be blamed on the Fed mtg minutes (which were no

• August 15, 2023
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Rate sheets this morning should be similar to yesterday as bonds gain back lost ground from earlier this morning. Reprice risk on the day is moderate, we could see more volatility and if bonds do lose ground lenders may be quick to consider repricing worse. The outlook remains that rates are close to peaking, but

• August 14, 2023
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WRAP UPUMBS 5.5: 98.00 (-36bps)10yr yield: 4.20 Mortgage bonds improved through the afternoon, only to give back all the gains. Lenders that repriced better may reprice worse again before day’s end. Rates look likely to creep higher from here, reaching 2023 highs and maybe matching the worst rates we saw last October. They will fall

• August 14, 2023
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  Inflation is looking a lot better, but that doesn’t mean we’re truly out of the woods. While inflation rises lower than expected in July, we still need to put our best foot forward to combat this inflationary environment and its effects. Michael Harris guides you with the perfect financial GPS to help you plan

• August 11, 2023
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Rate sheets are going to be much worse today than yesterday’s AM pricing, and worse than any reprices you saw yesterday as bonds continue to tank. Reprice risk on the day today is moderate, bonds are already taking big losses, but we could see another bout of snowball selling where bad turns to worse. Bonds

• August 10, 2023
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WRAP UPUMBS 5.5: 98.50 (-58bps)10yr yield: 4.11 What should have been a quiet day got out of hand quick, with lots of lenders repricing worse (and some twice) Great example today of bond selling triggering more selling… and it wasn’t due to the CPI data, or really much else to point a finger at. Very

• August 9, 2023
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WRAP UPUMBS 5.5: 99.08 (+11bps)10yr yield: 4.01CPI data at 8:30am ET tomorrow. Markets expect higher number than June, so unless MUCH higher I don’t think way we will see too much of a negative response but there is definitely a possibility. If shelter costs and core CPI show more improvement than expected we could see