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Bond Market in Holiday Mode

12/19/2025 3:33 PM

Bond Market in Holiday Mode Holiday mode is impossible to clearly define when it comes to its impact on the bond market. We know it when we see it, and we saw it today. Bonds paid no attention to econ data no matter how much it may seem that the 10am Consumer Sentiment numbers had an impact. Movement was mi...Read More

Mortgage Rates Just Off 2-Week Lows

12/19/2025 3:09 PM

It ended up being a fairly uneventful day for mortgage rates despite scattered speculation about the impact of foreign monetary policy decisions. The average lender nudged just a hair higher, resulting in the 2nd lowest reading of the week. Apart from yesterday, the last day with lower rates was more than 2 weeks ago on December 4th. The coming we...Read More

Highest Existing Home Sales in 8 Months But Don"t Get Excited

12/19/2025 12:55 PM

Existing-home sales extended their recent stabilization in November, rising 0.5% to a seasonally adjusted annual rate of 4.13 million , according to the National Association of Realtors (NAR). This is the 3rd straight increase and annualized sales are at their highest level in 8 months. The catch is that--much like several other housing metrics--...Read More

Three Straight Months of Improvement in Builder Confidence, But There"s a Catch

12/19/2025 12:39 PM

The December National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) edged up one point to 39. This is the 3rd straight month of improvement in the index--a development that could be confused for something encouraging.  But the reality is that builder confidence is merely drifting along just barely above the lowest ...Read More

Mortgage Apps Still Strong vs Last Year, But Down Slightly Last Week

12/19/2025 12:33 PM

Seasonally adjusted mortgage application activity declined 3.8% last week, according to MBA’s Weekly Mortgage Applications Survey for the week ending December 12. Unadjusted applications fell 5% from the prior week, reflecting a typical seasonal slowdown as the year draws to a close. The Refinance Index slipped 4% from the previous week but remain...Read More

Credit Review, HELOC, 2nd Products; Freddie and Fannie News; Cap. Markets

12/19/2025 10:45 AM

Lender and Broker Services, Products, and Software Newrez Wholesale has enhanced its partner protection program with Newrez Broker Protect, delivering broader and longer coverage for approved partners. Starting January 1, 2026, all approved broker partners receive 18 months of solicitation protection on funded Agency and Government loans. RezClub...Read More

Slightly Weaker. No, It"s Not Japan

12/19/2025 9:12 AM

There was a fair amount of momentum among financial news sources regarding the potential significance of last night"s Bank of Japan (BOJ) announcement to the U.S. bond market. While it was clearly relevant for Japan, it"s hard to make the case that it had any impact on overnight Treasury trading.  It"s always worth remembering that Japan"s big...Read More

Limited Follow-Through After Shockingly Big Miss

12/18/2025 3:53 PM

Limited Follow-Through After Shockingly Big Miss If you told the average trader that today"s core CPI would come in at 2.6% vs 3.0% year over year, they would have expected a much bigger reaction than we saw today. Ironically, the size of the miss may be one of those reasons. It"s so far outside the realm o...Read More

Mortgage Rates Near Lowest Levels Since October

12/18/2025 2:44 PM

Officially, there were 2 days at the end of November where the average lender"s 30yr fixed rates were just a hair lower (0.02% difference).  Otherwise, today"s rates would be the lowest since late October. The improvement follows this morning"s release of November"s Consumer Price Index (CPI). Inflation was so far below expectations that it r...Read More

Jumbo, Hedging, HELOC, Custom Newsletter Products; STRATMOR the UWM/TWO Deal

12/18/2025 10:51 AM

Lender and Broker Services, Products, and Software “The federal quality control standards under Dodd Frank for automated valuation models (AVMs) require valuation professionals to provide greater transparency in how AVMs determine credible, consistent, and objective property values. That’s why it’s important (and required) to regularly test, moni...Read More

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