Depending on the company you keep over this Labor Day weekend, you might hear that rates are high, housing in the verge of collapse, and the economy is headed for a hard, recessionary landing. Or you might hear that rates are coming down, housing has turned a corner, and the economy remains surprisingly resilient. No one is wrong, yet, and it’ll be a while before we find out who’s right.
Source: Kevin Litwicki MBSLIVE
It's Complicated, But Also Simple

There was plenty of buzz ahead of Fed Chair Powell’s Jackson Hole speech, but it was a bit of a let down for bonds. Next week, however, is one of the more critical weeks of this monetary policy cycle as it will go a long way in determining whether we’ve hit a ceiling or will continue hiking.
Source: Kevin Litwicki MBSLIVE
Markets Were Anxious Over Powell, But Next Week Deserves More Attention

At this point “high rates” are old news. We were already close to hitting the highest levels in more than 20 years last week, so it wasn’t a huge surprise to achieve that dubious distinction this Thursday. Some sources see the record-breaking rate at just over 7% for a 30yr fixed while others are over 7.5%. Both are accurate and we’ll explain why.
Source: Kevin Litwicki MBSLIVE
How Multi-Decade Highs Are Changing The Way Mortgage Rates Are Quoted

This was supposed to be the week where a key inflation report would cast a vote on the fate of interest rate momentum. The vote was ostensibly friendly but rates surged higher anyway. What gives?
Source: Kevin Litwicki MBSLIVE
Rates Are Officially Breaking The Rules, But Why?

Source: Kevin Litwicki MBSLIVE
Mortgage Rates Near 23 Year Highs. Is There Any Hope?

It’s no mystery that the housing and mortgage markets are facing their fair share of headwinds in 2023, but some blow harder than others.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates and Housing Didn't Care About This Week's Fed Rate Hike

Inventory! That’s been a buzzword for the housing market for more than a decade, but it’s been especially prevalent in 2023 as the excuse for slower home sales.
Source: Kevin Litwicki MBSLIVE
Slow Housing Market's Questionable Excuse (And a Much Better Alternative)

Mortgage rates spiked abruptly last week after several economic reports showed the economy doing better than expected. Now this week, key inflation data showed prices falling faster than expected. Rates responded with a full recovery.
Source: Kevin Litwicki MBSLIVE
Rates Recover Rapidly After Inflation Data

Until a few weeks ago, it looked like we might have seen the last of 7% mortgage rates, but the last 2 weeks have been brutal.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Back Over 7% as Markets Digest Economic Data

Mortgage rates have been hovering in the high 6’s for weeks, but they broke above 7% on Thursday. At the same time, multiple news outlets reported a 30yr fixed rate of 6.71%. Who’s lying?
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Jumped Over 7% This Week, Even if You Heard They Were 6.71%