U.S. population growth slowed sharply between July 2024 and July 2025, rising just 1.8 million people (0.5 percent) to 341.8 million, the weakest growth since the early pandemic. This was driven primarily by a steep 54 percent drop in net international migration from 2.7 million to 1.3 million (the

The wheels were already in motion by the time yesterday's recap came out, and participants in the MBS Live chat room were already high-fiving as we watched overnight price movement yesterday evening (and also hoping there wouldn't be some counterintuitive head fake).  As the domestic session ge

AI is shifting negotiating power from lenders to borrowers at scale. The institutions that restructure their workflows and tools to meet that reality will grow. The ones that don’t will feel it in pull-through rates before they understand why. For most of mortgage’s recent history, information asymm