Early in the trading session, the bond market began improving in response to more updates on a potential Iran peace deal. When bonds improve, rates fall, but the initial reaction proved short-lived.  Thankfully, the reversal didn’t do any new damage. This allowed the average lender to keep rates right in line with yesterday’s 6.61% for […]

A lift in cure rates for distressed mortgages showed staying power in April with the monthly number significantly higher than earlier in the year, according to Intercontinental Exchange. Processing Content The consistent monthly rate of more than 62,000 far outpaces an average around 42,000 between November and February, ICE found in its First Look report.

Key insight: Another key policymaker has made the case that inflation has emerged as the central bank’s primary concern as the war in Iran continues to drive up prices.  Expert quote: “After five years of above-target inflation, I am particularly attuned to the risk that elevated inflation will become embedded in price- and wage-setting behavior.