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CRA, Call Report, Non-QM U/W Tools; ROAD to Housing Bill Viewed; Immigration and Credit Reminder

7/14/2026 10:22 AM

Ever heard someone say something that was blatantly misleading? On July 16, at 2PM ET, you can race to buy one of Olive Garden’s 10,000 “Never Ending Pasta Passes.” But it does end, after 13 weeks. Yup, for $100 you can economically gain a lot of weight, since it’s in our DNA to do so. Speaking of DNA, do you really think that it is in the DNA of r...Read More

Strong Start After Sharply Lower CPI

7/14/2026 7:56 AM

The Consumer Price Index came in FAR below expectations with a core reading of 0.0 vs 0.2 forecasts. In unrounded terms, it was -0.17%. Headline CPI was more sharply negative than expected at -0.4 vs a -0.1 forecast. Supercore (which excludes housing) was down -0.2 which is the first negative reading in over a year. Core goods also remained in nega...Read More

Mortgage Rates Near 1-Year Highs

7/13/2026 3:12 PM

Interest rates are based on bonds. Because the bonds underlying the average mortgage are fixed rate, inflation is the enemy. Imagine you"re an investor fronting the money for a fixed-rate mortgage. You know your schedule of payments from day one. Let"s say the payment is $5 or enough to buy a dozen eggs.  Now let"s say inflation raises the pr...Read More

Fraud Report, AMC, Non-QM Products, eNote News; ROAD to Housing Thoughts; Oil and Rates

7/13/2026 10:55 AM

Recently, MISMO released its new white paper, “From Paper to Performance: How eNotes and eClosing Streamline Liquidity,” providing guidance for originators, warehouse lenders, investors, and technology providers to implement digital mortgage solutions. Today at 10AM PT is Now Next Later, presented by Relcu, where Jeremy Potter and Eric Lapin are jo...Read More

Weekend Weakness And Another Showdown With a Technical Ceiling

7/13/2026 8:21 AM

Bonds are weaker to start the new week and the catalyst is simple. The U.S. ramped up air strikes in Iran, both in terms of number and distance inland. Iran responded by hitting various allied targets. Perhaps more importantly for financial markets, shipping traffic has returned back to war-time lows after a noticeable surge in the 2nd half of June...Read More

Some Bond-Specific Weakness in The Afternoon

7/10/2026 2:50 PM

Some Bond-Specific Weakness in The Afternoon Oil and Treasury yields were almost perfectly correlated for almost the entire week. Friday afternoon was an exception. Oil continued sideways to slightly lower while yields rose a bit. Overall damage was negligible, but it was interesting nonetheless. While ther...Read More

Mortgage Rates End Week Roughly Unchanged

7/10/2026 1:39 PM

Rates are based on bonds and bonds have been taking cues from oil prices this week. Oil was flat overnight, bringing bonds along for the sideways ride. As such, the average mortgage lender began the day almost perfectly in line with yesterday"s latest levels.  All that having been said, bonds experienced some of their own weakness in the afte...Read More

Existing-Home Sales Continue Sideways Trend in June

7/10/2026 1:25 PM

Existing-home sales eased in June after reaching a six-month high in May, as modest changes in mortgage rates continued to influence buyer activity. According to the National Association of REALTORS®, sales fell 2.4% from May to a seasonally adjusted annual rate of 4.09 million , though they remained 2.8% above their level from a year earlier....Read More

Mortgage Applications Ease During Holiday-Shortened Week

7/10/2026 1:21 PM

Mortgage application activity slipped modestly last week as both purchase and refinance demand eased during the holiday-shortened period. The Mortgage Bankers Association (MBA) reported a 2.2% decrease in total application volume on a seasonally adjusted basis for the week ending July 3, with results adjusted for the Fourth of July holiday. Purc...Read More

Verification, AI, Prequal Products; STRATMOR Tech Survey; Government Program News

7/10/2026 10:06 AM

Did you know that 53 percent of statistics are made up on the spot? “Rob, you recently mentioned that 30 percent of repeat buyers paid cash and did not finance their home. Where did that statistic come from?” The most recent Home Buyers and Sellers Report from NAR. If you’d like to see stats based on age, here is as much data as you would like. Len...Read More

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