While there were no further bank failures this week, there was plenty of concern and speculation about who might be next. Those concerns teamed up with Wednesday’s Fed announcement to push interest rates lower (yes, even though the Fed hiked rates). Meanwhile, two separate reports showed a decline in home prices.
Source: Kevin Litwicki MBSLIVE
Failing Banks, Falling Rates, Falling Prices. Should You Worry?

There’s certainly a chicken/egg problem when it comes to interest rate news. Is it the Fed’s decisions that move rates? Or do market forces move rates, thus forcing the Fed to react?
Source: Kevin Litwicki MBSLIVE
The Fed Will Still Raise Rates in March, And That’s Why Rates May Keep Falling

Back on February 3rd, the last jobs report sent rates screaming higher. It was the biggest market mover of the month and traders have been waiting for the March 3rd installment ever since. When it finally arrived, an unexpected guest stole the show.
Source: Kevin Litwicki MBSLIVE
How One Unexpected Event Completely Stole The Show This Week

Home sales are very low. Mortgage rates have spiked back to 7%. New mortgage fees have eroded affordability for some. But the news isn’t all bad.
Source: Kevin Litwicki MBSLIVE
Things Aren't Necessarily Destined to Get Worse For Housing and Rates

When it comes to the mortgage and housing markets, there’s been no shortage of gloomy news for months, but how about some silver linings?
Source: Kevin Litwicki MBSLIVE
Looking For Silver Linings

Welcome to February 2023, where we’ve seen the first really serious leap higher in rates since October.
Source: Kevin Litwicki MBSLIVE
Rates Are Jumping Faster Than Most People Know

Mortgage rates hit 5 month lows last week but quickly jumped to the highest levels in more than a month this week. While last week’s strong jobs report certainly served as a catalyst, there’s more to the story.
Source: Kevin Litwicki MBSLIVE
Rates Played Chicken With The Fed (And Lost)

Today’s actual NFP number came in at a staggering 517k, thus edging out March 2022 to stand as the biggest deviation since August 2021. Rates didn’t like it.
Source: Kevin Litwicki MBSLIVE
Wild Ride For Rates After Stunning Jobs Report

There are those who always try to portray the glass as being half full when it comes to the housing market. Then there are those who love a full glass, but who also call it like they see it. Right now, each camp has something to agree on: the glass is more full than it was last month.
Source: Kevin Litwicki MBSLIVE
Is The Housing Market Finally Bouncing Back?

Mortgage rates have fallen quite a bit since hitting a long term peak in late October. By the middle of this week, the average 30yr fixed rate was more than 1.25% lower from the highs and at the best levels in more than 4 months. Rates have fallen due to improvement in the bond market, but bonds aren’t the only thing that impacts mortgage rates.
Source: Kevin Litwicki MBSLIVE
Rates May be Falling, But Other Mortgage Costs Are Going Up