Mortgage Market in Chaos. What You Need To Know.

Coronavirus has brought chaos to financial markets like few other things have.  Much of the fallout is unprecedented.  This is especially true for interest rates and the mortgage market.  In many ways, things are more chaotic now than they were in 2008.  That has positive and negative implications.  Here’s what you need to know. Market […]

Why Can’t Mortgage Rates Keep Up With Record Low Treasury Yields?

It’s no secret that the stock market has plummeted this week and only slightly less of a secret that the 10yr Treasury yield has dropped well into new all-time lows (on 4 straight days, in fact).  Given that mortgage rates are often discussed in the context of the 10yr yield, why in the world aren’t they […]

2020 Refi Boom Surpasses 2016’s And It’s Still Growing

Another week ending with the lowest rates in more than 3 years will mean another week with the highest levels of refinance demand in more than 3 years. In fact, refi demand is now as high as it’s been since 2013, even though rates haven’t yet moved below 2016’s lows. As the chart shows, rates are nearly as […]

Higher Stocks and Lower Rates. Who’s Lying?

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 […]

Lowest Mortgage Rates Since 2016

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 […]

How Coronavirus is Helping Housing

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 […]

Mortgage Rates Start 2020 on Strong Note

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 […]

Trade Deal Rocks Markets, But There’s a Catch

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 […]