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| Wild Ride For MBS as Traders Digest New Developments | ||
| 1/9/2026 3:16 PM | ||
| Wild Ride For MBS as Traders Digest New Developments We may have been looking to the jobs report as this week"s biggest potential source of volatility, but that changed on Thursday afternoon after Trump"s $200bln MBS buying announcement. Treasuries have only been able to watch from the sidelines. At one poi...Read More | ||
| Rates Plummet to 3 Year Lows, But There Are Caveats | ||
| 1/9/2026 12:56 PM | ||
| On a week where the mortgage market was most likely to experience volatility due to Friday"s jobs report, Thursday afternoon"s surprise announcement of $200bln in GSE MBS (mortgage-backed securities) buying stole the show. This was already juicing the underlying MBS market yesterday afternoon, but traders took the surge to the next level this morni...Read More | ||
| What"s Up With The New MBS Buying Announcement and The Massive Reaction in The Market? | ||
| 1/9/2026 10:12 AM | ||
| On Thursday afternoon with less than an hour left to trade, Trump announced he would be directing his representatives to buy $200bln in mortgage-backed securities (MBS). No matter what one"s personal opinions may be regarding bold announcements from the President, this one is definitely serious. How do we know? First off, if you don"t w...Read More | ||
| PHH Webinar Series; Agencies to Buy One Month"s Worth of Production - Similar to 2020; In-Person Events for 2026 | ||
| 1/9/2026 10:10 AM | ||
| A frequent topic in this Commentary is how lenders are responsible for only a small portion of the affordability issue. A big hit to affordability is insurance, and thank you to Kevin K. for passing along this story focused on fire resilience and home upgrades and how they may address insurance costs. Trying to plan for natural events is a full-tim...Read More | ||
| Fairly Tame Jobs Report, MBS Have Magic Armor Either Way | ||
| 1/9/2026 7:40 AM | ||
| The jobs report came out mixed with payrolls falling 10k short of the 60k forecast and the unemployment rate ticking down to 4.4% vs a 4.5% forecast. The unemployment rate decline is mitigated somewhat by the decline in labor force participation. All in all, this is not a lopsided report with any chance of sparking a rapid move in bonds. ...Read More | ||
| Mostly Quiet Ahead of Friday"s Jobs Report | ||
| 1/8/2026 3:27 PM | ||
| Mostly Quiet Ahead of Friday"s Jobs Report Bonds lost a bit of ground on Thursday with most of the weakness seen in the overnight session in sympathy with European bond market weakness. The rest of the selling followed a stronger weekly jobless claims report. That said, we wouldn"t give the data all t...Read More | ||
| Mortgage Rates Modestly Higher on Thursday. Friday"s Risks Are Bigger | ||
| 1/8/2026 3:05 PM | ||
| Mortgage rates were just a hair higher for the average lender on Thursday. The underlying bond market lost some ground following a stronger weekly Jobless Claims report and in sympathy with global bond market weakness overnight. Because rates are based on bonds, when bonds are weaker, rates move higher. There are many different economic repo...Read More | ||
| Hedging, PPE, Commercial, ATM Products; Trump vs. Institutional SFH Buyers; Prepayment Numbers | ||
| 1/8/2026 10:41 AM | ||
| “Warning: don’t use your pet’s name for your password. We were hacked, and had to change our dog’s name.” “Experts” are saying that passwords will be on the way out in 2026 as passkeys take over. Good, as I am tired of carrying around a notebook with my usernames and passwords for dozens of sites. For fans of artificial intelligence (AI), we have n...Read More | ||
| No Help From Jobless Claims or Europe | ||
| 1/8/2026 8:23 AM | ||
| US bonds have been taking clear cues from Europe in overnight trading recently. Today"s example involved a 3bp sell-off on both sides of the Atlantic. The 8:30am Jobless Claims data may be garnering more volume, but it has only added modestly to the morning"s selling pressure so far. ...Read More | ||
| Ultimately Underwhelming Despite Seemingly Significant Data | ||
| 1/7/2026 4:02 PM | ||
| Ultimately Underwhelming Despite Seemingly Significant Data There was certainly the potential for volatility today with the confluence of ADP, ISM, and Job Openings data. But the results ended up being close enough to consensus to obviate any massive reactions. Yields hit their lowest levels in a week after...Read More | ||
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