Ever since the Fed stepped in to save the mortgage market in 2008 by announcing that it would buy mortgage-backed-securities, the relationship between central banks and financial markets became more intertwined than it already was.
Source: Kevin Litwicki Universal Lending
The Paradox of Central Banks and The Mortgage Market

By most measures the housing market has been improving consistently since at least 2010. Some would say that the pervasiveness of the improvement was only made possible by the housing crisis setting such a low starting point, but that’s neither here nor there.
Source: Kevin Litwicki Universal Lending
Jury Still Out on Rising Rates and Housing Downturn

Whether or not the housing market actually needed to catch a break is definitely a matter of perspective. After all, we can’t be too upset about persistently decent housing data and mortgage rates in the high 3’s.
Source: Kevin Litwicki Universal Lending
Housing Market Catching a Much-Needed Break

Last week’s headline asked if this could be the “big bounce” for rates. Unfortunately, this week’s market movement has only strengthened the case for such a bounce. While rates are still historically very low, there are a few troubling caveats.
Source: Kevin Litwicki Universal Lending
Mortgage Rate Outlook Staying Scary

Until this week, interest rates had been grinding sideways in an exceptionally narrow range, just off the long term lows seen in early February. March’s biggest news has been the unequivocal break of that range—unfortunately, to the upside.
Source: Kevin Litwicki Universal Lending
Could This Be The Big Bounce For Rates?