Rate locks on home loans fell in April with a particularly steep dive in refinancing activity as the impact from March’s higher financing costs reversed some previous gains. Processing Content Overall, locks fell 9% from the previous month as purchase loans inched down 2% and rate-and-term refinances dropped by nearly 38%, according to Optimal Blue, […]
Mortgage rate locks sink after previous month’s surge Read More »
Reflecting both the unusually strong fourth quarter for home loan originations and the volatile rate environment for the period just ended, private mortgage insurers wrote 13% less business versus three months prior. Processing Content Still, with mortgage rates going to the low 6% range from near 7% one year ago, the six active underwriters did
Mortgage insurers end 1Q26 below expectations for volume Read More »
In dire need of a market-friendly CPI report, traders seemed to know that’s not what was coming as treasuries opened with bearish gaps leaving the 5-year yield within a basis point of its 5/4 yield crest. Processing Content Crude oil was also up another $3.50, which I’m sure didn’t help. Expectations were for headline CPI
Hotter-than-expected CPI sends yields climbing Read More »