Financial markets went on a fairly wild ride last week as weak manufacturing data combined with geopolitical news to lead a reversal in stocks and bonds by Friday. By Thursday of this week, we already had just as much volatility, but Friday took everyone by surprise–at least as far as rates were concerned.
Source: Kevin Litwicki Universal Lending
Another Wild Week Leaves Rates at Long-Term Lows

Two key home sales reports came out this week. Both were weaker than expected. But that doesn’t mean the housing market is weakening.
Source: Kevin Litwicki Universal Lending
Let's Put "Weaker" Home Sales in Perspective

Last week saw an unexpected drop in rates as trade war headlines rocked financial markets. Things looked set to calm down this week, but the drama continued. This time around, mortgage rates were able to keep slightly better pace with the broader bond market. The result is a return to levels that are very close to the lowest in more than a year.
Source: Kevin Litwicki Universal Lending
Rates Near Lowest Levels in Over a Year

10yr Treasury yields are widely thought to dictate mortgage rate movement. This week’s trade war headlines caused plenty of volatility and a general decline in Treasury yields, but mortgage rates had a hard time keeping up.
Source: Kevin Litwicki Universal Lending
Why Aren't Mortgages Falling as Fast as Other Rates?

It was an action-packed week for financial markets. Earnings were in full swing. There was a ton of economic data to digest. And of course, there was the Fed announcement and press conference to cause volatility from Wednesday afternoon on. But one of the most interesting developments was the big bounce in Pending Home Sales on Tuesday.
Source: Kevin Litwicki Universal Lending
Big Bounce in Home Sales And What it Could Mean For Prices