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| Full Recovery! | ||
| 10/7/2026 3:56 PM | ||
| Full Recovery! The patient looked critical this morning with 10yr yields pushing up to new long-term highs just over 5.36%, but by the early afternoon, there was a full recovery. In fact, most of the recovery arrived after 9:30am ET (and before 11am ET). Any time 9:30am kicks off a big move, we think about ...Read More | ||
| Mortgage Rates Started Much Higher But Almost Fully Recovered | ||
| 10/7/2026 2:50 PM | ||
| It was an exciting day for mortgage rates, and while we technically ended up slightly higher, it could have been much worse. In fact, it WAS much worse earlier in the day, but only for about 30 minutes. Our daily rate index can be updated throughout the day if mortgage lenders change their rates in sufficient numbers. If we reported only the...Read More | ||
| Sales Performance, Compliance, Borrower Satisfaction Tools; Brian V. on Industry Noise | ||
| 10/7/2026 10:51 AM | ||
| Lender and Broker Products, Services, and Software “Chicagoans have one unbreakable rule: no ketchup on a hot dog. Mortgage lenders should have one too: no questions that don"t belong on the application. Floify brings that same discipline to MBA Annual in Chicago, October 11–14 at the Hyatt Regency, where the industry celebrates homeownership and...Read More | ||
| No Surprise: It Was a Trap | ||
| 10/7/2026 9:07 AM | ||
| If there"s been a safe bet to make on isolated rally days over the past 2 months, it"s that they"ll be soon followed by a return to the prevailing trend toward higher rates. Today fills that role with gusto. We hate gusto--this kind anyway. Unfortunately, this kind of gusto is all we have, and there"s no convenient, singular explanation even though...Read More | ||
| Today Was "Nice" For Bonds | ||
| 10/6/2026 3:02 PM | ||
| Today Was "Nice" For Bonds Bonds bucked their prevailing trend and managed to move slightly lower in yield today. Unlike yesterday"s session which had no clear correlation with underlying events, today"s move traced a drop in oil prices fairly clearly. Some analysts thought that an improvement in French gov...Read More | ||
| Mortgage Rates Near 1-Week Lows | ||
| 10/6/2026 2:40 PM | ||
| Mortgage rates actually fell today--something they"ve done only 7 times since August 25th. While the outright levels remain near the highest since 2003, they"re near the lowest in just over a week with top-tier 30yr fixed rates down to 7.56% for the average lender. What gives? Is this a sign that recent upward momentum is starting to wane? It"s to...Read More | ||
| Polly Enters Hedging, Digital Lending, LO Exploration, Servicing, Correspondent Products; Penny and VantageScore | ||
| 10/6/2026 10:24 AM | ||
| I like to say that I am one good Lottery Scratcher away from ditching this daily Commentary gig and starting something new. All kidding aside, where should we start today? With the rumored FICO layoffs yesterday afternoon? Iowa, Michigan, and the Carolinas all having conferences now? Pennymac is now live with VantageScore 4.0 across all three produ...Read More | ||
| Overnight Adaptive Cruise, Following Oil | ||
| 10/6/2026 9:00 AM | ||
| If rate movement were a car, it"s been driving pretty recklessly recently, and definitely not keeping good pace with other motorists. But every now and then, we see a break in the craziness. The overnight trading session provided an example. The bond car set its adaptive cruise control to follow the car in front of it (oil prices, in today"s case)....Read More | ||
| What Will it Take For Bonds to Recover? | ||
| 10/5/2026 3:41 PM | ||
| What Will it Take For Bonds to Recover? Another day, another sell-off without any satisfying explanations. To be fair, you could say bonds just traded the curve today with anything 3yrs or shorter rallying at the expense of the longer end of the curve. But for the mortgage market, <3yrs is too short-term...Read More | ||
| Mortgage Rates Inch Up to Another Recent High | ||
| 10/5/2026 3:18 PM | ||
| The good news is that today"s average top-tier 30yr fixed rate ended only 0.01% higher than last week"s high (7.61 vs 7.60). If you are only interested in good news, have a great rest of your Monday and you"re free to go. The rest of the news isn"t terrible, but we we can"t classify it as "good." Bonds lost ground today and, as has been the case o...Read More | ||
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