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Real Estate News
Mortgage Rates Start Higher and Finish Lower
Wed, 04 Oct 2023 20:25:00 GMT

Mortgage rates began the day at new multi-decade highs, but only by a small margin over yesterday.  This was counterintuitive at first glance because the bond market was in better shape this morning (something that usually connotes lower rates)...[read more]

Surprisingly Calm and Logical Rally
Wed, 04 Oct 2023 20:15:02 GMT

Surprisingly Calm and Logical Rally Today's economic data came in either flat or noticeably weaker depending on the report.  Bonds rallied as a result. This is a logical outcome, and logical outcomes seem li..[read more]

Starting Out With a Chance
Wed, 04 Oct 2023 16:01:18 GMT

Bonds had a scary overnight session with 10s hitting highs of 4.884 around 3am ET.  They rallied a full 15bps over the next 6 hours, most recently with help from the weaker ADP reading.  90 minutes later, the as-expected ISM data is standin..[read more]

Credit and Verification Products; POS, eClosing Tools; Redfin, NAR, Computershare, Rithm, Newrez, Caliber, OB in the News
Wed, 04 Oct 2023 14:27:21 GMT

I head to Vancouver, WA, this morning for a Banner Bank event and will probably have the option of Wi-Fi on the plane. How is it that NASA is able to receive data from 4.6 billion miles away, but I lose my Wi-Fi signal in my kitchen? Having a compute..[read more]

Mortgage Application Volume Nears 30-Year Lows
Wed, 04 Oct 2023 13:07:24 GMT

As mortgage rates continued to climb, mortgage applications took their biggest hit since mid-April. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 6.0 percent on both a seasonally ad..[read more]

Mortgage Rates Easily Launched to New Long Term Highs by Upbeat Data
Tue, 03 Oct 2023 19:27:00 GMT

Mortgage rates were already close to the highest levels in more than 20 years yesterday--an unpleasant milestone that was easily surpassed after today's Job Openings data came in much higher than expected. Interest rates are always dependent on the ..[read more]

"Higher For Longer" Fears Becoming a Reality After JOLTS
Tue, 03 Oct 2023 19:26:35 GMT

"Higher For Longer" Fears Becoming a Reality After JOLTS The Job Openings and Labor Turnover Survey (JOLTS) is not a report we paid much attention to as a market mover until the past year or two.  Since then..[read more]

Redfin to NAR, "Enough is Enough'
Tue, 03 Oct 2023 17:24:00 GMT

A tempest in a teapot or the start of an uprising? Redfin, the publicly owned Seattle-based real estate company with 50 offices nationwide, announced on Monday it is walking away from the National Association of Realtors (NAR). The company, in a lett..[read more]

Today's Data is What Bonds Were Afraid Of
Tue, 03 Oct 2023 15:25:38 GMT

In the wake of the Fed announcement from 2 weeks ago, one key component of our bearish thesis was that bonds had to brace for the potential impact that would result from data being strong in the first week of October.  It is now the first week o..[read more]

Cybersecurity, CE, CRM, Warehouse Products; Disaster News and Insurance - Scaling Back in FL and CA
Tue, 03 Oct 2023 15:00:45 GMT

How will you always know that this Commentary is not produced by some AI thingy? Because of mistakes like yesterday, leaving Illinois off the list of top pumpkin growing states as several folks pointed out (thank you). Here are pumpkin stats out the ..[read more]

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