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Early Volatility And a Decent Recovery

2/9/2026 3:31 PM

Early Volatility And a Decent Recovery Bonds lost ground in the overnight session after Chinese regulators cautioned banks against holding US Treasuries. That move was short-lived and more than fully erased before 9am ET. Part of the bounce back can be attributed to a newswire quoting Hassett saying we shou...Read More

Mortgage Rates Roughly Flat to Start The Week

2/9/2026 2:15 PM

The past 2 weeks have seen very little volatility for mortgage rates.  After being near 6% for a week in early January, rates rose abruptly to 6.21% (avg top tier 30yr fixed) on January 20th in response to geopolitical drama. They"ve generally descended since then, but in slow, measured steps.   Today"s result was actually a 0.01% i...Read More

Analytics, Servicing, AI, Warehouse, Doctor Products; MBS Trends: Credit Scores Matter

2/9/2026 11:04 AM

Lenders are always analyzing automation for parts of the manufacturing process, and industry vet and STRATMOR Senior Advisor Sue Woodard has her thoughts about last week’s MBA conference. “The IMB has always been a barometer for where this industry actually is, not where slide decks say it should be. This year, the signal was unmistakable. The mood...Read More

AM Resilience After Overnight Weakness

2/9/2026 10:02 AM

Most nights, Treasuries trade in fairly low volume in a fairly narrow range.  Last night"s range wasn"t much wider than normal, but most of the movement happened all at once. It was also accompanied by much higher volume than normal. These are surefire signs of the market reacting to data or news. In the current case, that news involved Chines...Read More

Potential Signs of GSE Buying as MBS Outperform

2/6/2026 2:31 PM

Potential Signs of GSE Buying as MBS Outperform It was an uneventful day when it comes to scheduled data/events, and also pretty boring for the bond market in general. Most of the market"s volatility continues playing out in stocks, commodities, crypto, etc. The most notable development for our area of focu...Read More

Mortgage Rates Match Lowest Levels in Over 2 Weeks

2/6/2026 11:51 AM

In the bigger picture, the past two and a half weeks have been marked by a very narrow range in the bond market. Because bonds dictate mortgage rates, the latter have also been in a narrow range with average top tier 30yr fixed rates of 6.15-6.20%.  Yesterday"s employment-related data helped bonds improve. Many lenders made mid-day improvemen...Read More

Winter Weather Puts Purchase Applications on Ice

2/6/2026 10:32 AM

Mortgage application activity moved lower again last week, extending the pullback from January’s earlier burst of demand as weather disruptions and softening purchase activity weighed on overall volume. The Mortgage Bankers Association (MBA) reported that applications declined 8.9% for the week ending January 30. The Market Composite Index fell ...Read More

BBYS, Servicer Risk, Verification Tools; Non-Agency News; Why Mortgage Rates Are Sticky

2/6/2026 10:31 AM

Products, Services, and Software for Brokers and Lenders Truework is a comprehensive income and employment verification platform that fully replaces manual in-house waterfalls and provides mortgage lenders with a single automated solution to run their verification processes. With Truework, lenders see up to 50% cost savings on verifications while...Read More

Waiting on Next Week"s Data

2/6/2026 8:53 AM

Friday is the quietest day of the week in terms of scheduled econ data and events, with the relatively unimportant Consumer Sentiment being the only notable report. Bonds are roughly unchanged to start the session. Treasury yields are technically a few bps higher from yesterday"s 5pm levels, but right in line with 3pm (what many would argue to be t...Read More

Surprisingly Big Bond Rally Relative to The Data

2/5/2026 1:59 PM

Surprisingly Big Bond Rally Relative to The Data Bonds went on a bit of a buying spree on Thursday. It was the biggest rally day since November, at least, and that"s impressive given the motivations. Specifically, there was a trifecta of downbeat labor market reports (Challenger, Jobless Claims, and Job Ope...Read More

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