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
Rates Played Chicken With The Fed (And Lost)
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)
Wild Ride For Rates After Stunning Jobs Report
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
Is The Housing Market Finally Bouncing Back?
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?
Rates May be Falling, But Other Mortgage Costs Are Going Up
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
Lowest Rates in 4 Months, So Why Does Fed Say They're Going Higher?
Mortgage rates officially hit their lowest levels in 4 months after this week’s inflation data. Despite the recent progress, Fed officials continue to talk about keeping rates high “for as long as possible.” Who’s telling the truth?
Source: Kevin Litwicki MBSLIVE
Lowest Rates in 4 Months, So Why Does Fed Say They're Going Higher?
Markets Call The Fed's Bluff After Downbeat Data
The Fed has a parrot problem, and it’s on a crash course with economic reality… maybe.
Source: Kevin Litwicki MBSLIVE
Markets Call The Fed's Bluff After Downbeat Data
2022 Was Rough For Rates and Housing, But 2023 is a Blank Canvas
So long 2022! Don’t let the door hit you. You were the worst year for mortgage rates that most of us have seen in our lifetimes in terms of the pace of the rate spike. Sure, our friends who have more “life experience” are happy to remind us about their double digit mortgage rates in the 80s, but that was then, and everything’s relative. Besides, the “2nd worst rate environment, ever” doesn’t really make anyone feel any better.
Source: Kevin Litwicki MBSLIVE
2022 Was Rough For Rates and Housing, But 2023 is a Blank Canvas
Mixed Signals in Housing Data and Small-Scale Volatility in Rates
The last two weeks of December are unlike almost any time of year in terms of market movement and what we should read into it, but there were several housing-related reports that are worth considering as we head into the new year.
Source: Kevin Litwicki MBSLIVE
Mixed Signals in Housing Data and Small-Scale Volatility in Rates
Best Winning Streak For Rates in 2 Years
It was a critical week for financial markets and especially for rates as investors digested the latest inflation data and the Fed’s smaller rate hike.
Source: Kevin Litwicki MBSLIVE
Best Winning Streak For Rates in 2 Years