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Mortgage Rates Unchanged Versus Wednesday

11/28/2025 11:55 AM

As is most often the case, the Friday after Thanksgiving added nothing interesting to mortgage rate momentum.  The average lender"s top tier 30yr fixed rate is exactly where it was on Wednesday.  The underlying bond market closes early today, but will be fully open next week.  At that point, we"re likely to see some volatility return...Read More

Open But Not Really Open

11/28/2025 11:53 AM

Open But Not Really Open This is just a reminder that the Friday after Thanksgiving is the most useless and inconsequential trading day of the year.  In very rare cases, movement can be tied to actual events/data, but that"s not the case today. We do not publish detailed commentary on this particu...Read More

Coast to Coast Jobs; Hodge Podge of Economic News; Improved Pull Through = Lower Cost Per Loan

11/28/2025 10:45 AM

When did our business start with the catchy slogans? Stay alive in ’25? Stay in the mix in ’26. It’ll be heaven in ’27. How about, “Try to earn a little revenue every day, day after day.”? Smart mortgage bankers look at units, not dollar volumes. If an LO does $5 million in a month, is that one $5 million loan or ten $500,000 loans? And if your cos...Read More

Holiday Week Volatility With Zero Consequence

11/26/2025 1:55 PM

Holiday Week Volatility With Zero Consequence Although there was a brief negative reaction to this morning"s economic data, the impact was minimal. Random holiday-week volatility accounted for bigger swings, but those swings ultimately canceled each other out. By the 3pm close, bonds were close enough to un...Read More

Mortgage Rates Slightly Higher, But Remain Near Long-Term Lows

11/26/2025 1:52 PM

Wednesday was far less eventful than the first two days of the week as far as mortgage rates were concerned. The average lender raised rates just a hair, but apart from yesterday, these are the lowest levels in a month and very close to the lowest levels in more than 3 years. Bond markets and mortgage lenders will be closed tomorrow for Thanksgivi...Read More

Credit Union Compliance, HELOC Products; Conventional Conforming Loan Limits and Other Fannie/Freddie News

11/26/2025 10:42 AM

The new phone books are here, the new phone books are here! Oh, wait a minute. The new conventional conforming loan limits are here! The new conventional conforming loan limits are here! True, lenders that are entirely focused on non-Agency products like non-QM (without many of the loan level price adjustments or gfees) may not care too much, but f...Read More

Stronger Data. Weaker Start For Bonds

11/26/2025 7:55 AM

Bonds were just slightly weaker overnight but are losing more ground in early trading.  The culprit: both of this morning"s 8:30am ET economic releases.  Jobless Claims data is probably the bigger deal as it continues to show no signs of labor market distress (216k vs 225k f"cast). The other report, Durable Goods, is more stale (pre-shutd...Read More

Best Closing Levels in Nearly a Month

11/25/2025 4:08 PM

Best Closing Levels in Nearly a Month Bonds improved only moderately on Tuesday in a move that"s just as easily chalked up to random holiday-week volatility as any of the day"s data/events.  If we"re determined to give credit to particulars, we can cite things like the 13.5k decline in weekly ADP payro...Read More

Lowest Mortgage Rates Since 10/28 And Very Close to 3-Year Lows

11/25/2025 3:04 PM

Mortgage rates moved nicely lower on Tuesday with the average lender very close to the 2025 lows seen in late October. These levels are effectively right in line with the lowest since late 2022. If today"s drop seems abrupt, that"s because it is. In fact, it"s a bigger drop than the underlying bond market justifies. There"s a reason for this and w...Read More

Conforming Loan Limit Rises to $832,750 Amid Lowest Home Price Growth Since 2012

11/25/2025 2:13 PM

Both the FHFA and the S&P/Cotality Case-Shiller home-price indices released new data this week. The message remains consistent: home prices are still higher than a year ago, but the pace of appreciation continues to slow. FHFA’s national index shows prices up 1.7% year-over-year and flat 0.0% month-over-month in September after August was ...Read More

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