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Today’s Homeowners Can’t Afford to Sell

The housing bears have ratcheted up their rhetoric lately, calling for an impeding crash. It’s not a crazy notion with home prices clearly unaffordable and mortgage rates no longer anywhere near 3%. But generally, a crash or bubble is preceded by creative financing of some sort. Back in 2006, it was zero down mortgages, stated… Read More »Today’s Homeowners Can’t Afford to Sell

The post Today’s Homeowners Can’t Afford to Sell appeared first on The Truth About Mortgage.

Mortgage rates jump to 6.32% – CNN

Mortgage rates jump to 6.32%  CNN

The 7% mortgage is back with a vengeance

Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. And it could be a while before they tick back down.

Agency MBS market is facing a supply-side threat

Agency MBS market is facing a supply-side threat

Issuance of agency MBS is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the market is expected to swell to record levels over that period.

‘The Risk of a Deep Housing Slide Persists’: Dallas Fed Says Downturn in U.S. and German Housing Markets Could Affect the Rest of the World

In the report by the Dallas Federal Reserve Bank, researchers called out the possibility of a “deep global housing slide.”

Resilience Threatened by Data at Home and Abroad

“Resilience” has been the theme of the past several trading days as 10yr yields have held the ceiling at 3.98%.  That ceiling is now facing its most legitimate threats after several economic reports suggest persistent price pressures.  This began in the overnight session with Germany’s many inflation reports and continued domestically after the “prices paid” component of the ISM Manufacturing data came in at 51.3 vs forecasts of 45.1.   To be clear, the ISM data was/is today’s most relevant event for bonds.  Fed Funds Futures had been drifting toward higher rates between 9 and 10am but have definitely seen their sharpest movement after ISM. 

Mortgage and refinance rates today, February 27, 2023: Rates rise – Bankrate.com

Mortgage and refinance rates today, February 27, 2023: Rates rise  Bankrate.com

Bets on the ‘Year of the Bond’ are still on even as losses return

It’s way too soon to abandon hopes for a strong bond-market rebound in 2023. But even if plowing back into Treasuries proves to be a winning trade, sticking with it won’t be for the faint of heart.  A surge in job growth, rising consumer spending and faster-than-expected inflation have sent bond prices sliding again by … [Read more…]