Last week, we discussed a surprising spike in market volatility. Fortunately, one of the volatile moves involved interest rates dropping to their lowest levels since September. This week has been quite different. The volatility is gone. Rates have bounced modestly...
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Just When You Thought It Couldn’t Get Any Crazier
Last week's newsletter asked whether or not the highest interest rates of this economic cycle are behind us. At the time, this was a relatively new and bold assertion. Now, this week makes that assessment look tame by comparison. Specifically,...
Are The Highest Interest Rates Behind Us?
Relative to the last 2 years of pain for rates, a sense of hope has emerged, seemingly overnight, as the 10yr Treasury yield (an important benchmark for longer-term rates like mortgages) broke through a key level. 3.05% had consistently blocked the advance of falling...
Housing Showing Some Signs of Stabilizing
It wouldn't be 2018 in the housing market if there wasn't at least one report painting a gloomier picture. The National Association of Homebuilders Housing Market Index (or "builder confidence" for short) did those honors this week. Up until now, builder confidence...
Rates Actually Fell to Recent Lows This Week
The rapid rise in rates has been a big problem for the housing and mortgage markets this year. Just last week, some reports suggested rates were near 8 year highs. The same sources reported that rates were 'unchanged' this week. One might conclude rates remained at 8...
Who Gets The Blame For Higher Rates?
Are you mad? Whether you're a housing/mortgage professional or simply a person who might like to buy/sell/refinance a house at some point in the near future, you have a right to be frustrated. Housing is definitely in the midst of a cooling phase. There are many...
Why Strong Job Gains Hurt Both Sides of The Market
October has a bit of a reputation in financial markets as being more prone to volatility than most months. While there are solid theories as to why (earnings, start of Federal fiscal year, seasonal staffing patterns among traders), there's no solid rhyme or reason as...
Here’s Why You Can’t Trust The News When it Comes to Stocks and Interest Rates
It's been all over the news in October, and before then in February: rising rates are causing heavy stock losses! The bigger the stock losses, the more rates get blamed. To some extent, and for some investors, that may be true, but it sure wasn't true this week. This...
There are Great Reasons to Not Lose Hope in Housing and Rates
A Few Great Reasons Not to Lose Hope in Housing and Rates Times are tougher than they have been for the housing and mortgage markets. Rates are at 7 year highs, and home sales/prices are noticeably cooling. 2008's mortgage meltdown taught us to fear the worst at times...