Market volatility has been fairly intense over the past week and a half with trade war drama taking the spotlight away from the Fed and economic data. While that was very bad for stocks at the beginning of this week, it was insanely good for rates.
Source: Kevin Litwicki MBSLIVE
Lowest Rates Since 2016, But Why Aren't They Lower?

On the morning after this week’s Fed rate cut, mortgage rates were roughly unchanged versus the previous morning. This will come as a surprise to scores of consumers who mistakenly believe the Fed’s 0.25% rate cut equates to a 0.25% drop in ALL rates.
Source: Kevin Litwicki MBSLIVE
The Fed Did NOT Cut Mortgage Rates, But Trump Tried!

Negative housing-related headlines are on the rise. But the reality for the housing market is not nearly as simple as some of these headlines would make it seem. The reality is actually much better.
Source: Kevin Litwicki MBSLIVE
Is There Really Trouble in The Housing Market?

News flash: June Building Permits abruptly fell at the fastest pace in more than 2 years to their lowest levels in 2 years! Time to stick a fork in the housing market? Not exactly…
Source: Kevin Litwicki MBSLIVE
The Other Side of This Week's Scary Housing News

There is a lot of confusion about Fed rate cuts/hikes as they relate to mortgage rates. Too frequently, media coverage suggests a Fed rate cut would coincide with lower mortgage rates and vice versa. But in practice it can be just the opposite!
Source: Kevin Litwicki MBSLIVE
Why a Fed Rate Cut Might Mean Higher Rates

Interest rates have been on a tear. They’ve fallen as faster and farther than at any other time in the past 8 years. By some measures, they’ve managed to maintain positive momentum for as long as they ever do. This naturally begs the question: is it time for a bounce?
Source: Kevin Litwicki MBSLIVE
Jobs Report Fires Warning Shot For Rates

Rates are low! How low are they? How fast have they fallen? Are mortgage rates keeping pace with rates in general? And what’s the implication of all this?
Source: Kevin Litwicki MBSLIVE
Rates Are Low. They're Also High. What's Up With That?

This week’s policy announcement from the Federal Reserve (aka “The Fed”) was hotly anticipated. Markets have increasingly predicted Fed rate cuts in 2019 for a variety of reasons and this was the Fed’s first chance to address the most rapid change in those expectations.
Source: Kevin Litwicki Universal Lending
Fed Confirms Market's Hopes, But There's a Catch

You’ve heard of time healing all wounds, but what about low rates healing the mortgage and housing markets? It’s not that either was particularly distressed, but both have benefited in a major way from the recent drop in rates. Perhaps even more important has been rates’ ability to HOLD at or near long-term lows for 2 full weeks now.
Source: Kevin Litwicki Universal Lending
Low Rates Lighting a Fire Under Housing/Mortgage Markets

There are refi booms and then there are refi booms. Numbers were never higher than they were on several weeks in 2009 and they were never “extremely elevated for nearly 2 years” like they were from August 2011 through May 2013. It would take some doing to get back to those levels, but relative to the past few years of refi demand, things are picking up quickly.
Source: Kevin Litwicki Universal Lending
Time For the Next Refi Boom?