Trump’s mortgage deregulation order drew cautious praise from lenders but alarm from consumer groups, who warn it could recreate pre-2008 financial crisis conditions.

The real estate investment trust said it needed more time for shareholders to vote in favor of the transaction, following speculation it was in trouble.

Hale Capital Management purchased Voxtur Analytics after a tumultuous past few years that included financial struggles, and rebranded it as Apex Analytics.

The deregulatory executive order, which pairs with another targeting small players’ home loan rules, impacts the FHFA, HUD and other agencies.

A coalition of Democratic attorneys general, led by California and Illinois, have sued the Department of Housing and Urban Development over a guidance that they argue will scale back enforcement to strict federal standards and threaten state funding to enforce fair housing laws.

Mortgage rates are based on bonds, and bonds spent last week bracing for the impact of higher energy prices. In the bond world, higher inflation begets higher rates, all else equal.  Oil prices remain elevated, but fell more than 5% on Monday. The bond market responded with a drop in Treasury yields (which generally correlate with mortgage rates). Both the 10yr Treasury yield and the average top-tier 30yr fixed mortgage rate fell 0.06% on the day. That means mortgages are now at the highest levels in only 3 months after being at 7-month highs on Friday afternoon.  [thirtyyearmortgagerates]

Simple, Strong Correlation With Oil Leaves Yields Lower

There’s no sense in overcomplicating today’s trading session. Oil was down significantly and so were bond yields. The correlation was very strong after 4am ET with each major peak and valley aligning. Econ data was present, but not a relevant consideration for trading. Stocks were also part of the correlation game but in a perfectly inverted way (peak in oil/yields = valley in stock prices). In other words, both sides of the market remain transfixed by energy prices. This hasn’t been the exclusive market mover in March, but it’s definitely been the dominant consideration, and that was double true today.

Econ Data / Events

NY Fed manufacturing

-0.2 vs 3.2 f’cast, 7.1 prev

Market Movement Recap

08:37 AM Moderately stronger overnight with additional gains in early domestic trading. MBS up a quarter point and 10yr down 4.6bps at 4.232

12:22 PM MBS still up a quarter point and 10yr down 4.1bps at 4.237

02:56 PM Best levels of the day with MBS up 11 ticks (.34) and 10yr yields down 6bps at 4.218

With no massive escalation in Iran over the weekend, oil prices trickled only modestly higher during Asian trading hours and began to recover during European hours. Early domestic trading kept the friendly trend intact with some help from Trump comments that suggested a limited timeline for the war. That said, the rally was more of a linear trend this morning and less of a volatile reaction to any individual newswire. Econ data is in the back seat to geopolitical events. The same will generally be true for Wednesday’s Fed announcement, although volatility is at least possible thanks to the dot plot and press conference (rate cut = 0% chance).

NOTE: you will never see a true 0% chance in terms of probability implied by futures contracts due to the structure of that market, but 99% = 100% and 1% = 0% for all practical purposes. 

Products, Services, and Software for Brokers and Lenders “Great News! LendingPros has Pipeline Accelerator Specials for March, check them out. Plus, we’re excited to celebrate joining the ARIVE platform and have combined our March and ARIVE specials for UP TO 100 BPS OFF NON-QM for loans locked from 3/10 – 3/20, 2026! Our Live on ARIVE Specials include: 25 BPS Price Improvement on all Non-QM, including Select, 12.5 BPS Price Improvement on ALL Conventional, Government and Jumbo, including Select (excludes Streamlines and IRRRLs). March Specials for loans locked 3/1 – 3/31, 2026 include: Up to 75 BPS on Non-QM with Select or 25 BPS without, Prime Specials include 37.5 BPS on Non-Select VA IRRRLs and FHA Streamlines, 12.5 BPS Special on Select VA IRRRLs and FHA Streamlines and Closed-End Second Specials with LLPA Improvements and 25 BPS Price Improvement. Contact your LendingPros AE for details!” Solutions for High DTI. When DTI looks high on paper, experienced brokers look to Castor Financial. Castor specializes in simplifying non-QM by serving as the ultimate solution leader for DTI issues. Castor’s Income Stacking with its Prime PLUS program allows you to combine multiple streams—W2, Bank Statements or P&L, and Asset Depletion—to qualify borrowers. The Prime PLUS program’s asset depletion features are the most aggressive in the industry: divide eligible assets by only 36, with no minimum asset value required. Join Castor for a conversation with Danny Flucke, co-founder of US Tax Certs on March 18th. They’ll be focusing on how to remove friction for self-employed borrowers. Bring your toughest questions: there’s a free giveaway for the most challenging scenario! Register today. On March 23rd, tune in to the Chrisman Podcast as Castor President Brooks Champagne joins Robbie for a deep dive into Castor’s unique income stacking qualification.

A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.