The first week of any given month tends to have the highest concentration of economic data with the power to influence the bond market, and thus interest rates. This week was no exception.
Source: Kevin Litwicki MBSLIVE
Plenty of Movement, Not Much Progress; More Volatility Ahead

Mortgage rates fell nicely to start the week but only after rising rather abruptly in the previous two weeks. All of the above takes place inside a narrow, sideways range in the bigger picture
Source: Kevin Litwicki MBSLIVE
Housing and Rates Having Tough Time Finding Momentum

Seemingly overnight, the internet is awash with news regarding a “new,” unfair tax on mortgage borrowers with higher credit scores. Some have gone so far as to suggest that someone could intentionally lower their credit score in order to get a better deal.
Source: Kevin Litwicki MBSLIVE
Is There Really a New, Unfair Mortgage Tax on Those With High Credit?

The good news is that last November increasingly looks like the moment when rates stopped surging higher at the fastest pace in 40 years. The bad news is that they still don’t seem sure what to do next.
Source: Kevin Litwicki MBSLIVE
Rates Having a Tough Time Turning The Corner

Interest rates were remarkably calm in the last week of March. The market was in the process of shifting focus from the banking sector back to economic data. It just so happened that last week was light on data. This week was quite the opposite.
Source: Kevin Litwicki MBSLIVE
Rates Bounce After Hitting 2 Month Lows

The bond market moved far less over the entire week than it did during a single day last week. Not only was volatility much lighter, but the trading patterns changed as well.
Source: Kevin Litwicki MBSLIVE
Calmer Markets; Are Home Prices Already Done Falling?

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