While this newsletter series has said it many times before and in many different ways, it bears repeating (and perhaps some extra emphasis this time around): THE FED DOESN’T SET MORTGAGE RATES.
Source: Kevin Litwicki MBSLIVE
ONCE AGAIN: THE FED DOESN'T SET MORTGAGE RATES!

Remember the summer of 2013? Fans of low rates would rather forget it. Specifically, the 2nd to last week in June 2013 marked one of the most abrupt mortgage rate jumps on record. You’d have to go back to 1987 to see anything bigger.
Source: Kevin Litwicki MBSLIVE
Worst Week For Rates in 6 Years. Fed Rate Cut Won't Help

Source: Kevin Litwicki MBSLIVE
Best Year For Rates Since 2002, How Low Can They Go?

It’s easy enough for media outlets to accurately report the underlying facts when it comes to mortgage rates and housing. It seems far harder to find consensus when it comes to what those facts mean and why things are the way they are. Let’s clear up some of the misconceptions driving this phenomenon as we recap the week’s market movement and housing-related developments.
Source: Kevin Litwicki MBSLIVE
Let's Shatter Some Housing/Mortgage Misconceptions

Various speeches from members of the Federal Reserve contributed to upward pressure on rates throughout the week. But then on Friday, all that pressure was erased in an instant.
Source: Kevin Litwicki MBSLIVE
No Rest For Refi Boom as Tweets Trump Fed

This week, the Mortgage Bankers Association (MBA) released application numbers that confirm what almost anyone in the mortgage industry could have already told you (if they could find the time and energy!) A new refi boom is underway.
Source: Kevin Litwicki MBSLIVE
New Refi Boom Kicking Into Higher Gear

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