Since March 1st, the Iran war has been the primary reason for movement and volatility in the bond market. Pre-war motivations were woefully muted. That changed a bit with the jobs report two weeks ago and it changed again with this week’s Fed announcement. Thankfully, the damage was quickly reversed.
Source: Kevin Litwicki MBSLIVE
Fed Steals Spotlight From Iran War

Since late March, markets have had repeated opportunities to play deal or no deal when it comes to ending the Iran war. Sometimes we won. Sometimes we lost. This week’s installment was touch and go, but ultimately a winner.
Source: Kevin Litwicki MBSLIVE
Everyone Wins This Week's Round of Deal or No Deal

While they’re not yet back to the recent long term highs seen on May 19th, rates surged to 2-week highs on Friday after an exceptionally strong jobs report.
Source: Kevin Litwicki MBSLIVE
Rates Finally Look Past War Headlines. Unfortunately, They Looked Up

Some news stories called out this week’s mortgage rates as being the highest since last August, and while many of them came out only yesterday, this is really old news from last week.
Source: Kevin Litwicki MBSLIVE
Lower Rates This Week. Is This New or Deja Vu?

This week ended up being the most volatile for interest rates since late March. By Tuesday, the average mortgage lender was at the highest level in more than 9 months. But ultimately, Friday’s rates ended up the same as last Friday’s.
Source: Kevin Litwicki MBSLIVE
Rates Recover From 9-Month Highs Amid War-Related Volatility

It wasn’t the best week for mortgage rates with the average lender jumping more than 0.20% from last Friday to the highest level in more than 9 months.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Jump to 9-Month Highs

Wednesday ended up being the most interesting day of the week for rate movement thanks to headlines suggesting The U.S. and Iran were close to signing a one page memo to end the war.
Source: Kevin Litwicki MBSLIVE
Rates Got The Memo

Last week’s newsletter noted an exceptional lack of volatility, but this week ended up shifting gears in a noticeable way.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Jumped This Week, But Found a Ceiling

If there were a movie about mortgage rates, this week would be the part where they say “it’s quiet… almost TOO quiet.”
Source: Kevin Litwicki MBSLIVE
Eerily Calm Week For Rates

Mortgage lenders consider several factors when deciding where to set mortgage rates. By far and away, the bond market is the most important of those factors. But sometimes rates don’t do exactly what the bond market suggests.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Didn't Fall as Much as The Market Suggested