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    • Treasury Auction Relief Rally and Month-End Support
      Treasury Auction Relief Rally and Month-End Support With Thursday being a half day before a 3.5 day weekend, it's entirely reasonable to suspect month-end trading helped the bond market today.  There's never a great way to know if it will help or hurt, but it's a common hindsight conclusion when markets are moving without any […]
    • Super Steady Streak Sustained
      There are probably only a few 4-day streaks with effectively no movement in mortgage rates, and this is one of them.  After falling to 6.91% last Friday, the MND rate index hasn't moved more than 0.01%. Granted, some lenders have been higher or lower during that time, but they offset each other in such a […]
    • Warehouse, Verification Tools; STRATMOR on Process Evaluation; HMDA Data; Non-Agency and TPO News
      Could anything be better than Krispy Kreme coming to McDonalds! Yes! The new HMDA data is here! (More of a more serious note below.) Whether donuts or mortgages, a company can’t manufacture them without planning. Searching for one perfect process for your lending operation? It doesn’t exist. In STRATMOR Group’s March Insights Report, Principals Jennifer […]
    • Holding Steady is a Victory Considering Overseas Monetary Threat
      There are no significant economic data on tap today.  The only notable event is the 7yr Treasury auction (the last of the week) and it's a bit of a stretch to refer to a 7yr auction as "notable."  Far more interesting were the overnight developments in Japan, resulting in a 34yr low for Yen vs […]
    • Little Change in Mortgage Application Volume, Despite Lower Rates
      The Mortgage Bankers Association said its Market Composite Index moved lower last week, apparently indifferent to a slight improvement in mortgage interest rates. The Index, which measures loan application volume, decreased 0.7 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index declined 0.4 percent compared with the previous […]
    • Mixed Performance. Data Hurt. Auction Helped. Little Changed
      Mixed Performance. Data Hurt. Auction Helped. Little Changed In the bigger picture, bonds found resistance before 10yr yields managed to break below 4.19, but remained well under the 4.32% ceiling after yesterday's weakness.  Today began slightly stronger, but shifted weaker after the Durable Goods data.  The home team rallied after the 1pm Treasury auction came […]
    • Mortgage Rates Barely Budge For 2nd Straight Day
      After moving back under 7% last week (conventional, 30yr fixed, top tier scenario), mortgage rates have been increasingly unlikely to move.  Today was the 2nd day in a row with essentially no change for the average lender. Rates are driven by bonds and bonds are waiting on the most relevant economic data to offer a […]
    • New Home Sales Decline Slightly, Prices Too
      Sales of newly constructed homes were virtually unchanged in February. The 662,000 seasonally adjusted annual units recorded in during the month was down by 2,000 units or 0.3 percent from the rate in January. This did, however, put sales 5.9 percent higher than they were in February 2023. The report from the U.S. Census Bureau […]
    • More Outperformance as Treasuries Fret Over Auctions
      Welcome to day 4 of our unofficial 9 day weekend with limited data and volatility ahead of an actual 3.5 day weekend.  Is data truly limited if we have Durable Goods?  Perhaps not entirely...  There was a small but noticeable reaction this morning to the stronger result (1.4 vs 1.1).  But because bonds were only slightly […]
    • Servicing, POS, Marketing, Internal Audit Products; Increase in Mortgage Debt; Webinars and Training
      As conjecture swirls about the economic impact of the collapse of the bridge in Baltimore, did you ever notice that when you put the two words "The" and "IRS" together it spells "Theirs"? Taxes are something we all deal with, and here in Louisville, KY, at the TMC event, one of the major discussion topics […]

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