Jack's Morning Update

Daily Rate Briefing: JOBS DRIVE RATES Just another week in the mortgage biz, folks! We’ve got jobs reports stacked, a possible government shutdown, Fed speakers galore, and markets drifting lower. We’re opening flat this morning after last week’s slide—down 31 bps on Conventional loans (about $310 worse per $100K) and 9…

Daily Rate Briefing: BIG DATA MORNING Yesterday was a bit of a non-event kind of day. We did end the day worse than where we started being down 9 BPS on conv which equates to $90 worse pricing per 100K in loan amount when comparing the same rate. Not a…

Daily Rate Briefing: HOUSING MARKET TWIST After a non-event day yesterday filled with some volatility we are starting off the day with mortgage rates beginning where we left off for the most part. Some items to share with customers and referral partners is that the average 30 year fixed rate…

Daily Rate Briefing: FED MEMBERS DISAGREE Before I get to the story of the day the markets are acting really weird this morning. Your Conv MBS for lower rates is unchanged. For a little higher rates with more yield we are 19 BPS better. In the Govt lending world we…

Daily Rate Briefing: THE FED SPOKE I enjoyed my two weeks away from writing as I created this new look as well as my new website which is 99% of the way there : ) Last week the Fed cut rates by a quarter point in what Powell called a…

MBS Market Update: Rates and Movements JOLTS BOOSTS RATESThe JOLTS report surprised markets this morning with a steep drop in job openings, sparking a quick 20 BPS boost for mortgage rates. With retail sales still strong and applications mixed the tog-of-war between economic strength and softening labor is keeping rates…

MBS Market Update: Rates and Movements JOLTS BOOSTS RATESThe JOLTS report surprised markets this morning with a steep drop in job openings, sparking a quick 20 BPS boost for mortgage rates. With retail sales still strong and applications mixed the tog-of-war between economic strength and softening labor is keeping rates…

MBS Market Update: Rates and Movements BETTER RATES AHEAD?We’re starting the day just a smidge lower in the mortgage rates arena, but nothing to worry about. Most lenders won’t even see a change on their morning rate sheets compared to yesterday’s close. Yesterday gave us some nice gains, which is…

MBS Market Update: Rates and Movements PURCHASE OR REFI?It has been a slow morning the mortgage rate markets after a pretty good day yesterday. If you look below, you will see a small but nice gain from 9 – 13 BPS in conventional and govt pricing and the 10-year going…

MBS Market Update: Rates and Movements HOUSING PRICE NUMBERS We are having another quiet day thus far in the mortgage rate markets. So, what can you talk about with clients? Today, the Case-Shiller Housing Index came out and the FHFA House Price Index came out. How about we educate ourselves…

MBS Market Update: Rates and Movements BIG RALLY FRIDAYCheck out the GREEN from Friday. Everywhere!Man oh man, what a moment at Jackson Hole—Fed Chair Powell practically opened the door to rate cuts in September. He struck a careful balance: acknowledging that the labor market is showing signs of strain, inflation…

MBS Market Update: Rates and Movements MBS UPDATEHi Folks, I am traveling visiting clients today and will be driving down the highway at the normal time I send this out. Therefore, it is coming out a little early today and markets will not be fully ramped up yet. By the…