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Hedging, Verification, POS, Data Mining Tools; Rocket Mortgage and RESPA; MISMO Motors On

9/3/2026 10:04 AM

Broker and Lender Products, Software, and Services As AI becomes embedded across the mortgage lifecycle, lenders are rethinking how they use data to drive decisions and automate workflows. They aren’t looking for more reports. They want solutions that help them detect signals, whether it"s a change in borrower status, a counterparty risk flag, or...Read More

Some Signs of Resilience

9/3/2026 8:56 AM

There were two separate positive developments for bonds this morning. The most obvious and actionable example was series of comments from Fed"s Waller in which he basically said he wasn"t interested in hiking rates right now unless inflation data surprised to the downside. Fed funds futures and bonds reacted instantly with 10yr yields ultimately dr...Read More

Relatively Drama-Free Day

9/2/2026 4:01 PM

Relatively Drama-Free Day These things happen from time to time. The bond market finally had an uneventful day... sorta. This may seem like a fairly odd claim for any day where yields hit the highest levels in well over a year but those were intraday highs, and they weren"t much higher than yesterday"s high...Read More

Mortgage Rates Approaching 7%

9/2/2026 2:08 PM

First things first: when we reference average, daily, top-tier 30yr fixed rates, it is for an ideal scenario that rarely exists in the wild. The average scenario will always involve slightly higher effective rates (i.e. even if the rate is the same as national averages, it would involve additional upfront costs). As a reminder, our daily rate inde...Read More

HELOC, TPO, API, Non-Agency Products; Webcasts; Why Rates Are Where They Are: We"re Not Alone

9/2/2026 10:25 AM

I’ve been in capital markets for over 40 years, and this rate and affordability environment is tough. Any lender who finds these higher rates boring, well, don’t hold your breath waiting for them to come down.) Principal, interest, taxes, and insurance (PITA) is only part of the affordability equation, but market forces determine long term rates, n...Read More

No News is Good News

9/2/2026 9:32 AM

Bonds were initially a hair weaker overnight but reversed course starting around 7am ET as oil prices fell. On the other hand, oil had already begun moving lower earlier in the overnight session without a proportional response in bonds. In other words, there was some extra oomph behind the 7am move. This could be as simple as different traders...Read More

More War. More Selling

9/1/2026 3:50 PM

More War. More Selling Tuesday was as straightforward as it was unpleasant for the bond market. Mid-day news regarding new air strikes in Iran caused an immediate reaction in oil prices. This was more than enough to reverse the rally that followed this morning"s 10am ET economic data. Oil prices hit the hig...Read More

Mortgage Rates Pushing New Long-Term Highs

9/1/2026 3:02 PM

Fighting intensified today between the U.S. and Iran. Oil prices moved higher fairly quickly and bond yields followed. This has been a common pattern during the Iran war as higher oil prices imply higher inflation which, in turn, implies higher yields/rates. Yesterday"s average top-tier 30yr fixed rate hit the highest levels since June 2025. Today...Read More

2nd Lien Reverse, Conversion, Settlement Tools; Bill Cosgrove on Consolidation; Agency News

9/1/2026 10:50 AM

I don’t know where August went, but it went somewhere. We’re now two thirds of the way through the 3rd quarter of 2026. Lenders and vendors are adapting to a lackluster homebuying “season,” stubborn rates, and origination costs around $11k per loan. Lenders are trying to drive that cost down through higher pull through. Labor Day is next Monday, an...Read More

Selling Continues And It"s Not Just Oil

9/1/2026 8:45 AM

Bond yields broke long term highs yesterday and are moving slightly higher again today. In both cases, we"re NOT seeing the same level of intraday correlation with oil prices that we"ve almost always seen on days without another compelling motivation for bonds. That said, oil prices still moved higher, so we can"t discount its impact. If we zo...Read More

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