Five Minute Maturity – 05/19/2021

Good morning and happy hump day. If it’s Wednesday it must be the day for Mortgage Applications, this one for the week ending May 14th. Last week we got +2.1%. At 6:00 a.m. central today we got +1.2%. Yesterday’s Housing Starts number (-9.5% overall) contributed to...

Five Minute Maturity – 05/14/2021

Good morning, and happy Friday! The Fed’s total MBS purchases for the next two weeks are going to drop to $54.6 billion vs. last cycle’s $71.7 billion. A change in one cycle is certainly not enough to establish a trend, but if Fed purchases continue to taper off, that...

Five Minute Maturity – 05/12/2021

Good morning and happy hump day! Today’s the day we finally got back to some scheduled housing news, even if it is the weekly Mortgage Applications. This time we got the week ending May 7th. We’re coming off a lackluster -0.9% for the prior week ending April 30th. The...

Five Minute Maturity – 05/10/2021

Good morning, ladies and gentlemen! While the housing market continues on its fiery tear, the mortgage market is likely to slow down somewhat in the next few months. Inflation is on the rise, as demonstrated by corn prices, gas prices, lumber prices, you name it! We...

Five Minute Maturity – 05/07/2021

Good morning! Collectively, MBS prepay speeds for the month of April dropped -21% vs. street expectations of -15%. In March of 2020, rates dropped significantly, prompting droves of borrowers to refinance their mortgages. As a result, prepay speeds shot up, making MBS...