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Real Estate News |
Solid Conclusion to a Solid Week
Fri, 21 Feb 2025 22:00:17 GMT
Solid Conclusion to a Solid Week Bonds benefited from a one-two punch of economic data and stock market weakness on Friday, eventually helping 10yr yields flirt with their lowest levels since December 18th (..[read more]
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Mortgage Rates End Week at Lowest Levels Since December 18th
Fri, 21 Feb 2025 20:22:00 GMT
Back on December 18th, rates began the day fairly close to where they ended the previous day. In the afternoon, rates surged sharply higher following the Fed announcement. Even since then, the average 30yr fixed rate has operated almost exclusively a..[read more]
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Refi Apps Still Near Best Levels Since October, Despite Larger Decline This Week
Fri, 21 Feb 2025 19:59:00 GMT
Per the latest release from the Mortgage Bankers Association (MBA), both refinance and purchase indices decreased this week. In terms of the change from the previous week, it was the biggest drop so far this year, but not remotely as big as last week..[read more]
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Building Permits Staying Fairly Calm as Housing Starts Whipsaw
Fri, 21 Feb 2025 19:30:00 GMT
The Census Bureau released its New Residential Construction report this week, frequently referred to by its principal component "housing starts" (a term for the start of the first phase of new home construction). In addition to housing starts, the da..[read more]
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Builder Confidence Dropped, But Not Enough to Jump to Conclusions
Fri, 21 Feb 2025 19:01:00 GMT
The National Association of Homebuilders (NAHB) along with Wells Fargo released the monthly builder confidence index this week, and it came out much weaker than expected. With tariff and immigration news rapidly evolving, it's tempting to conclude th..[read more]
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Near Best Levels in Months After AM Econ Data
Fri, 21 Feb 2025 16:57:19 GMT
MBS are very close to their February 5th levels, which were the best since the morning of December 18th before the Fed announcement (and dot plot) caused a big sell-off. Today, it's econ data that's contributing to the third day in a row of mod..[read more]
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Verification, LO Database, Construction Appraisal Tools; Fiscal vs. Monetary Policy
Fri, 21 Feb 2025 16:53:50 GMT
While much of the nation deals with the severe cold, I received this note from a new loan officer in Oklahoma. "Rob, I overheard my secondary group talking about a 'PITA' price adjustment. I didn't want to show my ignorance. What is it?' You should a..[read more]
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Very Low Volatility After Early Morning Rally
Thu, 20 Feb 2025 21:50:04 GMT
Very Low Volatility After Early Morning Rally Bonds were sideways to slightly weaker in the overnight session, but bounced back at 7am ET. The two most notable developments at the time were weak earnings fr..[read more]
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Mortgage Rates Casually Drift Back to 2 Month Lows
Thu, 20 Feb 2025 21:00:00 GMT
It was a fairly decent day for mortgage rates with the average lender returning to the lowest levels in just over 2 months. The improvement followed early morning comments from Treasury Secretary Scott Bessent regarding the probable mix of future Tre..[read more]
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Stronger Start. Thank Walmart or Bessent?
Thu, 20 Feb 2025 17:00:35 GMT
There's an interesting little case study in this morning's market movement. Bonds had been sideway to very slightly weaker overnight, but began to rally at 7am ET. The most notable market headline available at the time was news of Walmart's dis..[read more]
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