As of last week, rates were showing some signs of resilience, but they had to wait for the true test from this week’s jobs report. Spoiler alert: they passed the test.
Source: Kevin Litwicki MBSLIVE
Waiting Game is Over and Rates Are Moving

After embarking on a volatile journey in early October, the past 2 weeks have been calmer for mortgage rates, but this is best viewed as the calm before the storm.
Source: Kevin Litwicki MBSLIVE
Rates and Housing Back in The Waiting Game

Mortgage rates bounced hard off the long term lows back in September and had jumped almost a full percent by last week. In addition to the elevated levels, there’s been plenty of volatility as well. Despite ongoing volatility, rates managed to avoid breaking last week’s ceiling–even if only just. Does that mean it’s time for hope?
Source: Kevin Litwicki MBSLIVE
Are Rates Done Freaking Out Yet?

Over the past month, the dominant narrative was that rates were moving higher in concert with the odds of a Trump victory. Election night proved that narrative and also proved that rates were already largely in position for the outcome.
Source: Kevin Litwicki MBSLIVE
How The Election and The Fed Impacted Rates

This newsletter strictly avoids politics except in cases where the political realm legitimately intersects with relevant events for housing and rates. Now is clearly one of those times. The discussion that follows contains no opinion or partisan leaning.
Source: Kevin Litwicki MBSLIVE
Rates Refuse to Drop Ahead of Election. How About After?

Last week’s newsletter warned that it was time to start thinking about incredibly high volatility potential due to events in the first few days of November. But as far as interest rates are concerned, the volatility is already here.
Source: Kevin Litwicki MBSLIVE
November Volatility Shows Up Early And Next Week Could Be Even Crazier

This newsletter series spent 3 straight weeks trying to remind readers that mortgage rates could go higher after the Fed rate cut, and then several more weeks warning about the high stakes jobs report. We had no way of knowing how the future would play out then, and that continues to be the case, but it’s time to get the next big warning on the table.
Source: Kevin Litwicki MBSLIVE
Time to Start Thinking About Incredibly High Volatility Potential

It’s been frustrating and potentially confusing to see mortgage rates move consistently higher after the Fed’s September 18th rate cut, but the Fed has nothing to do with the big rate spike of the past few weeks.
Source: Kevin Litwicki MBSLIVE
Lots of Confusion About Recent Rate Movement. Let's Clear it up

There was a lot riding on Friday’s big jobs report with a weak result likely to reinvigorate a move to long-term lows and a strong result likely to push rates higher. It ended up being VERY strong, thus pushing rates higher VERY quickly.
Source: Kevin Litwicki MBSLIVE
Huge Rate Bounce After Stunningly Strong Jobs Report

‘Tis the season for things to be something other than what they appear to be, apparently. Lenders are talking about new loan limits, but they haven’t officially changed. News stories are saying rates went lower this week, but they’re higher. And there’s even talk of a big refi boom, but as you may have guessed, that’s also not exactly right.
Source: Kevin Litwicki MBSLIVE
Refi Booms, Loan Limits, and Mortgage Rate Misdirection