Low-interest rates have been one of 2020’s most pleasant surprises. Heading into the end of 2019, there were more than a few reasons to worry that rates would be moving steadily higher this year. The upside is that they would at least be starting that journey near enough to all time lows and that the […]
As interest rates moved in an ever-narrower pattern in the 2nd half of 2019, we looked to early 2020 to break that cycle, for better or worse. So far, 2020 has delivered on the promise of increased volatility, but not for the reasons anyone expected.
There was a far better case to be made for the […]
By Friday of last week, it was clear that the coronavirus outbreak was having a significant impact on markets with stocks and bond yields (aka interest rates) both moving lower. Those same themes intensified this week, ultimately paving the way for the lowest mortgage rates since 2016.
That may come as a surprise to those who believe the […]
Although there were a few caveats, last week saw one of the biggest jumps in new home construction in more than decade. Now this week’s data shows existing home sales at their highest in nearly 2 years, and close to highest in more than a decade. Is housing starting to boom again?
The following chart of existing sales helps put […]
Things are looking up for the housing market at the start of the new year. Granted, some of the following data pertains to the last few months of 2019, but it nonetheless speaks to a friendly shift that is arguably already well underway.
Fannie Mae’s Home Purchase Sentiment Index offers a broad measure of housing market […]
Everything’s relative when it comes to mortgage rates. For every homeowner that’s been concerned about a short-term increase in rates, there’s another who’s glad to remind them how high rates used to be.
At the moment, with top tier 30yr fixed offerings hanging out under 4%, it’s hard to be too concerned about where we are today. But fretting over […]
It’s effectively impossible to read, watch, or listen to the news this week without the impeachment taking center stage. While this sort of thing may be interesting to network news producers, it’s of almost no consequence to financial markets–let alone the housing and mortgage market.
Granted, it would be a different story if there was a reasonable […]
Last week, we talked about the many reasons that the importance of the US/China trade relationship could not be overstated. This week’s market movement showed why.
With new tariffs set to take effect on Sunday, Dec 15th, we knew big news became more and more likely as the week progressed. It arrived unequivocally on Thursday and remained front and […]
Financial markets remain transfixed by seemingly insignificant updates relating to US/China trade negotiations. For those who follow markets closely, this can be exasperating at times, but it’s happening for a good reason.
If we only look at shorter-term market movements (like the chart below with this week’s stock prices and bond yields), we might conclude that […]
The past 2 weeks have been fairly exciting in terms of interest rate volatility. This is the perfect environment for seemingly authoritative sources to get it dead wrong when it comes to telling you how rates are moving.
Without naming names, let’s just say some very big players in the mortgage, real estate, and financial media markets are […]