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Shutdown is Over. Don"t Get Excited

11/13/2025 7:06 AM

First off, the market expected a shutdown resolution by mid November and especially since this past weekend.  That"s the reason today"s news means essentially nothing in terms of being a surprise headline.  On the data front, today is also meaningless in the short term. It"s not as if the backlog of econ data will suddenly be released. Th...Read More

Bonds Look Past 10yr Auction to Maintain Focus on Jobs

11/12/2025 3:10 PM

Bonds Look Past 10yr Auction to Maintain Focus on Jobs While there were no big ticket economic reports on today"s calendar, bonds came into the session with a tailwind from yesterday"s weekly ADP payrolls data. Unlike the monthly numbers seen in last week"s monthly ADP report (which showed a +42k increase i...Read More

Mortgage Rates Only Modestly Lower Despite Bond Market Improvement

11/12/2025 2:15 PM

Mortgage rates are based on bond market movement and bonds are much stronger today compared to Monday. Although bonds were closed yesterday for the Veterans Day holiday, there was an important piece of economic data that suggested lower rates today. The data in question was the new weekly payroll count from ADP. Whereas October"s monthly data (whi...Read More

Non-QM, Broker, AMC, LO Survey Results; Warehouse Tools; Webinars and Training

11/12/2025 10:53 AM

Its dog eat dog in the ranks of the FHFA and Fannie Mae & Freddie Mac. The question is, does anyone care, or is anyone surprised? We want to follow the law, right? Everyone knows that the Trump Administration fired the Inspector General and Fannie’s ethics staff. Now the Wall Street Journal reports that, “Fannie Mae Watchdogs Probed How Pulte O...Read More

Stronger Start Thanks to Weekly ADP Data

11/12/2025 9:21 AM

ADP has been in the monthly data game for a long time when it comes to payroll counts, but their weekly report is the new kid on the econ data block. The public has only had access for a few weeks and traders have wasted no time incorporating it into the inner circle of influential market movers.  Perhaps this dynamic will fade after the gover...Read More

Counting Down to Ending The Shutdown After Tuesday"s Holiday Closure

11/10/2025 3:27 PM

Counting Down to Ending The Shutdown After Tuesday"s Holiday Closure Bonds were weaker in the overnight session with at least some of the blame presumably going to a sudden improvement in the prospects for reopening the government. To whatever extent that blame is merited, the rest of the week is increasing...Read More

Mortgage Rates Edge Higher But Remain in November Range

11/10/2025 2:39 PM

Mortgage rates went into the weekend with a small cushion thanks to movement in the bond market on Friday. Specifically, bonds improved after mortgage rates came out for the day. If the improvement had been sharper, mortgage lenders likely would have made a mid-day adjustment to slightly lower levels. The implication was that rates would have been ...Read More

Tax Service, Realtor Marketing, Debt Payment Tools; Curinos on Apps; Events and Training

11/10/2025 10:46 AM

“6-7!” has swept the nation for youngsters of indeterminant age, and for no real reason. Other numbers have meaning, as do dates. For example, today is November 10th and on this day in 1975, the freighter S.S. Edmund Fitzgerald sank in Lake Superior during a massive storm, killing all 29 of the crew. (Gordon Lightfoot memorialized the tragedy in a ...Read More

Shutdown Resolution in Sight. What Next?

11/10/2025 10:18 AM

If members of the House can make it back to D.C. in sufficient numbers, there"s a real possibility that the shutdown will end this week. Some marketplace chatter is attempting to connect overnight bond market weakness to those prospects, but an early recovery suggests some skepticism (because the recovery didn"t coincide with any new news on the sh...Read More

Mortgage Rates Rise Gently, But Still Well Below This Week"s Highs

11/7/2025 1:24 PM

Wednesday"s mortgage rates were the highest in roughly a month and very close to the highest levels in 2 months.  This followed stronger economic data on that same morning. Rates moved back down yesterday after separate econ data told a different story. Now on Friday, it"s a mixed bag. The underlying bond market was slightly weaker to start ...Read More

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