Isaac Rodriguez Anchor Funding

12/05/2024

On to the next challenge! June 1st.

02/25/2022

They say that what you have on your Lock Screen says a lot about you. What’s yours say about you? Show me yours.

07/30/2021

Strong, Calm Week. Next Week Might Be Different Saying "next week might be different" is of questionable value when it comes to financial markets. Every week might be different! That said, some hold more volatility risk than others. There was a moderate amount...

07/22/2021

We are seeing a new opportunity to refinance at low rates!

The average 30-year fixed-rate mortgage sank to 2.78%, according to mortgage rates data released Thursday by Freddie Mac‘s PMMS.

07/13/2021

Higher rates today.

Mortgage rates are coming off a solid performance last week after having moved to the lowest levels in 5 months by Thursday afternoon. This week is shaping up to be a bit different , however. In fact, as of this afternoon, the average lender has lost most of...

07/12/2021

Servicers’ forbearance portfolio volume dropped again, this time 11 basis points to 3.76% as of July 4, 2021, per the Mortgage Bankers Association.

07/12/2021

07/09/2021

Mortgage Update

Even though rates rebounded to slightly higher levels on Friday, the week generally brought pleasant surprises as the mortgage market returned to levels not seen since February. Back in February, we were passing through the present rate range on the way UP...

07/08/2021

Now is the time to refi or get into the house of your dreams!

With yesterday's mortgage rates already near longer-term lows, all it took was a modest improvement for today's rates to officially hit their best levels since February . The strong move in the bond market (which dictates rates) was more than enough. Back in...

07/08/2021

He believes it would be a straightforward move to communicate

07/08/2021

Fears of less economic growth, as the great reopening is fizzling has pushed yields down to the lowest levels since mid-February. We are also seeing less inflation and less policy response (which stocks don't like). Lastly, the U.S. bond market is getting a familiar tailwind of foreign investment as our 10-year Note at 1.29% outshines what is happening in Germany and Japan.

Stocks are lower with the decline coming a day after the S&P and NASDAQ closed at fresh record high levels - so the decline must be taken in stride. Economic data has been soft of late and it's normal for investors to cash in some chips with stocks at record levels.

The 10-year yield slid to 1.25% this morning just above its 200-day Moving Average of 1.23%. So what is the bond market telling us? It is signaling that investors feel that inflation will be transitory and have now fully joined Fed Chair Powell's camp that there will be just temporary inflation pressures. The 10-year yield is back up to 1.28% since trading near the 200-day MA. While your competition is parading around suggesting rates are going lower still (and they might), but it won't happen if the 200-day MA holds yields up. At the same time, take a peek at the MBS chart on the MMG website, the long upper "wick" on today's Candle already shows prices off their best levels.

Remind clients that markets tend to overshoot to both the upside and downside ... meaning the current decline in rates may prove fleeting. Your clients may benefit from even lower rates, however, they will need you to protect them and lock should the reversal from the best levels continues.

The Fed will be purchasing up to $5.2446B in Mortgage Bonds today. There are two operations at 10:00 - 10:20 a.m. ET and 11:00 - 11:20 a.m. ET.

Technically, the benchmark FNMA 2% 30-yr coupon closed above the "Wall" at $101.50 yesterday and appears on pace for a two-day close, which is good. However, the long upper wick with prices already 30bp off the highs has our attention. Furthermore, the 10-year yield bouncing back up to near 1.30% after touching 1.25% also has our attention

Start the day floating most files and let's see if bonds can revisit the best levels of the day. Should prices fade lower - you will be hearing from us with a lock alert - at least on files where you can't afford to lose pricing.

For our money - we think it is wise to get more of your pipeline ready to lock in case this move lower in yield does prove fleeting.