Jack's Morning Update

Daily Rate Briefing: WHERE ARE RATES? This morning at 10:45 CST. 18 Minute Ride With Jack Mortgage Tours is on bank statement loans where we go beyond the math and into what really matters. Learn how to spot the red flags, read the income story, and ask the questions that…

Daily Rate Briefing: BIG DATA AHEAD Well, we had quite the day yesterday in the markets. There is a lot we know and a lot we simply do not, and right now we are moving all over the place. The honest expectation is more of the same for a bit.…

Daily Rate Briefing: INFLATION, IRAN, THE FED Before I jump into today’s update, I’ve got something pretty cool for you. I’m breaking down how rate sheets are actually built. Conventional and NQM. From the MBS coupons I’m always talking about, to the day-to-day price swings, all the way to the…

Daily Rate Briefing: RATE ROLLER COASTER Who’s up for a mortgage roller coaster ride? Because this week has been one. Friday through Wednesday we’ve consistently started worse than we finished. That’s a win for your borrowers and anyone floating locks. But don’t get comfortable. Yesterday alone swung 28 BPS from…

Daily Rate Briefing: FED CHAIR HELPS RATES Well looky there. We were all waiting to see what Monday and today would bring after weekend conflict news, and once again it is interesting to see what actually moves markets. Uncertainty is still the theme, but we appear to have found a…

Daily Rate Briefing: INDECISION DRIVES MARKETS Markets have caught a bit of a breather over the last couple of days, and part of that comes from a temporary 5-day ceasefire tied to the ongoing tensions involving Iran and activity around the Strait of Hormuz. This pause is essentially a short-term…

Daily Rate Briefing: WHERE R RATES? Alright folks, here’s the scoop on what’s happening in the market. Not much has changed on the driving forces behind the moves. It’s all about oil and the situation in the Strait of Hormuz and the ongoing Iran conflict. This is going to continue…

Daily Rate Briefing: FED POWELL BRINGS HEAT Well hasn’t this been a fun couple days. Nobody thought the Fed meeting was going to have much of an impact on rates. Powell is on the way out, no rate cut expected, and all eyes have really been on oil and the…

Daily Rate Briefing: OIL DROP HELPS RATES A lot has happened since my last update on Thursday morning. Oil continues to be the big driver of mortgage prices with it’s fluctuation issues. Here is some talking points you can give to your borrowers and referral partners if they ask what…

Daily Rate Briefing: INFLATION FEARS RETURN Yesterday was a rough day in the mortgage markets. To be honest, it was also a little perplexing. In the environment we are in right now there are so many moving pieces affecting markets that it is nearly impossible to pinpoint one single reason…

Daily Rate Briefing: OIL SHOCKS MARKETS What in the world happened yesterday? Markets were down 25 to 30 BPS at one point and somehow finished the day up about 6 BPS. That is quite the ride. The simple answer is oil. Middle East tensions with Iran pushed crude oil prices…

Daily Rate Briefing: RATE VOLATILITY UPDATE A day between these morning updates can bring a lot of changes, and the last 48 hours is a good example of that. Gas is up. Mortgage applications are up. Rate volatility is calming down day over day, but during the day we are…