Insights from the Frontline of Finance

Ground Up Construction: A Step-by-Step Financing Guide

Thu, 14 May 2026 20:14:00 GMT

For seasoned developers and ambitious real estate investors, ground-up construction represents the pinnacle of value creation. It is the transition from a vision on a blueprint to a tangible, high-yield asset. However, the path from site preparation to the final certificate of occupancy is paved with financial complexities that can stall even the most promising projects. At Credo Group Capital, we understand that in the world of development, speed is a currency and flexibility is a...

Scaling Your Fix and Flip Portfolio: The Ultimate Guide to Smart Leverage

Thu, 14 May 2026 20:14:00 GMT

In the high-stakes world of real estate investing, speed and liquidity are the two pillars of growth. You can be the most talented renovator in the market, but if your capital is locked in a single project for six months, your growth isn’t just slow: it’s stagnant. As we navigate 2026, the landscape for real estate financing has shifted. The days of ultra-low interest rates are behind us, but the demand for quality housing remains at an all-time high. For the experienced investor, this isn't...

DSCR vs Conventional: Why Real Estate Investors are Switching

Thu, 14 May 2026 20:14:00 GMT

If you have been in the real estate game for more than a minute, you know the feeling. You’ve found a killer deal, maybe a distressed four-plex or a turnkey single-family rental with massive upside. Your bank account is ready, your contractor is on standby, and your portfolio is primed for growth. Then you talk to a traditional bank. Suddenly, you’re buried in three years of tax returns, 1099s, profit & loss statements, and a microscope on your personal Debt-to-Income (DTI) ratio. Even if the...

The Future of Multi-Family Financing in 2026

Thu, 14 May 2026 20:14:00 GMT

The landscape of multi-family real estate has shifted dramatically as we move through 2026. Gone are the days of ultra-low interest rates and "easy" equity growth. Today’s market demands a more sophisticated approach: one that prioritizes operational discipline, realistic underwriting, and creative capital structures. At Credo Group Capital, we’ve watched this evolution closely, adapting our services to ensure our clients stay ahead of the curve. Whether you are an experienced developer or a...

Mastering Bridge Loans: The Secret to 5-Day Closings

Thu, 14 May 2026 20:14:00 GMT

In the high-stakes world of real estate investing, speed isn't just an advantage: it’s the currency of the realm. We’ve all been there: you find a distressed multi-family property or a prime off-market single-family residence, the numbers scream "profit," and the seller wants a decision yesterday. You call your traditional bank, and they start talking about a 45-day closing window and 30 pages of personal tax returns. By the time the bank’s underwriter finishes their first cup of coffee, the...

Fix and Flip Secrets Revealed: What Experts Don't Want You to Know About 100% Rehab Funding

Mon, 11 May 2026 18:57:00 GMT

In the high-stakes world of real estate investing, liquidity is the lifeblood of every successful project. You’ve likely seen the headlines promising "100% financing" or "No Money Down" flips. For many investors, these claims sound like a shortcut to wealth. However, the reality behind those slogans is often buried in fine print, hidden fees, & rigid terms that can paralyze a project before the first wall is demoed. At Credo Group Capital, we believe in transparency over slogans. We provide...

Weaker Start After Peace Deal Stalls

Mon, 11 May 2026 15:28:00 GMT

Bonds are starting the day moderately weaker. The reasons are straightforward. Chief among them, Trump rejected Iran's counterproposal to end the war, calling it "totally unacceptable." In response, Iran's foreign minister said it will never bow to foreign pressure. Adding fuel to the fire, Netanyahu said the war was not over and there was "more work to be done." When trading began late Sunday night, oil prices were roughly 5bps higher and 10yr yields rose 4bps to roughly 4.40%. Despite those losses, trading levels for both oil prices and bond yields remain lower than they were before last week's big rally on Wednesday morning.

Weaker Start After Peace Deal Stalls

Mon, 11 May 2026 15:28:00 GMT

Calm and Slightly Stronger, But Volatility Will be Back

Fri, 08 May 2026 19:34:00 GMT

Calm and Slightly Stronger, But Volatility Will be Back Once or twice per week, the bond market manages to post a fairly calm trading day against the prevailing backdrop of generally higher volatility. Today was such a day. The most helpful catalyst was an absence of any major war-related headlines and associated oil price volatility. That said, it's a near certainty that war-related volatility will be back in the coming week. Econ Data / Events Average earnings mm (Apr) 0.2% vs 0.3% f'cast, 0.2% prev Non Farm Payrolls (Apr) 115K vs 62K f'cast, 178K prev Participation Rate (Apr) 61.8% vs -- f'cast, 61.9% prev Unemployment rate mm (Apr) 4.3% vs 4.3% f'cast, 4.3% prev Consumer Sentiment (May) 48.2 vs 49.5 f'cast, 49.8 prev Sentiment: 1y Inflation (May) 4.5% vs -- f'cast, 4.7% prev Sentiment: 5y Inflation (May) 3.4% vs -- f'cast, 3.5% prev Market Movement Recap 08:32 AM No major reaction to jobs report. MBS up 2 ticks (.06) and 10yr down 1.5bps at 4.375 10:46 AM Slightly stronger but leveling off. MBS up 6 ticks (.19) and 10yr down 3.6bps at 4.356 02:13 PM MBS up 5 ticks (.16) and 10yr down 3.5bps at 4.356

Mortgage Rates End Week Slightly Lower

Fri, 08 May 2026 17:52:00 GMT

It ended up being a decent round trip for rates this week. Monday kicked things off with a jump to the highest level in more than a month, and the third highest since August 2025. But that ended up being the only day where rates went higher. Wednesday brough the biggest chunk of the recovery with MND's daily rate index dropping 0.10%. Tuesday and Friday (today) each added a 0.02% drop, taking the index to 6.42% after ending last week at 6.44%. War-related headlines were less of a factor today and volatility was unsurprisingly lighter as a result. This is an adjustment for seasoned rate watchers who are used to monthly jobs report being a distinct source of volatility. It's especially notable that the job count came in significantly higher with no ill effect on bonds/rates. Over the past 6 months, markets have shifted their jobs report focus from the payroll count to the unemployment rate, reversing decades of precedent. Today's outcome is more logical in that context as the unemployment rate was right in line with expectations at 4.3%.

Higher Rates Hit Mortgage Apps, But Only Modestly

Fri, 08 May 2026 16:56:00 GMT

Mortgage applications declined last week, reversing some of the prior period’s gains as rates climbed to their highest level in a month. The Mortgage Bankers Association (MBA) reported a 4.4% decrease on a seasonally adjusted basis for the week ending May 1. The decline was broad-based, with both purchase and refinance activity moving lower. The Refinance Index fell 5% from the previous week but remained 29% higher than the same week one year ago. Meanwhile, the seasonally adjusted Purchase Index decreased 4% week over week and was still 5% above last year’s level. In the bigger picture, purchase apps remain closer to the highest levels of the past few years. The average 30-year fixed mortgage rate increased to 6.45% from 6.37%, marking the highest reading in a month and weighing on overall application volume. Higher borrowing costs, driven in part by ongoing geopolitical tensions, continue to limit refinance incentives while creating some hesitation among prospective buyers. MBA’s Joel Kan said, " Mortgage rates last week increased to their highest level in a month... elevated rates and shrinking refinance incentives continued to weigh on activity... The refinance share of applications was the lowest since August 2025. " Kan also noted that while purchase activity softened on a weekly basis, it remains above last year’s pace. The average purchase loan size rose to a record $467,300 , suggesting that higher-priced segments may be driving activity while some entry-level buyers hold back amid affordability pressures.

2-Month Glut of Data Brings New Home Sales Back to Center of The Range

Fri, 08 May 2026 16:30:00 GMT

New home sales moved higher in March and February. Both months were reported on a single day this week as the Census Bureau continues catching up from the government shutdown. After dropping to 587k in January, sales rose to 635k in February and 682k in March. This represents a solid bounce back into the center of the broadly sideways range that's been intact for the past 2 years. For-sale inventory edged slightly lower to 481,000 , down 0.4% from February and 4.6% below year-ago levels. At the current sales pace, months’ supply fell to 8.5 months , down from 9.1 months in February and 9.2 months one year ago. The decline reflects a combination of stronger sales and modestly tighter inventory. Prices moved lower on both a monthly and annual basis. The median sales price declined to $387,400 (-5.3% MoM; -6.2% YoY), while the average price slipped to $503,100 (-3.4% MoM; -1.2% YoY). The continued softness in pricing suggests a shift in the mix of homes sold and ongoing pressure on affordability. Sales (MoM): +7.4% Sales (YoY): +3.3% Inventory (YoY): -4.6% Months’ Supply: 8.5 (down from 9.1 prior month; 9.2 YoY)

BBYS, Anti-Fraud, Subservicing Products; Primer Hedging Information for MLOs; Cap. Markets Deep Dive

Fri, 08 May 2026 14:42:00 GMT

If you haven’t signed up for the Mortgage Action Alliance, do so. It’s free, has good advocacy information, and there’s strength in numbers. Recent conference chatter includes suggesting that removing politics from the mortgage conversation would be a good thing to attempt, wondering if there’s enough regulatory manpower muscle to take the existing LO comp rules and re-jigger them, some believing that the recent credit score announcements are lacking leave much to be desired, asking why the Fed’s useful Twitter account (Financial Sentiment Index, TFSI) vanished, and suggestions that Southern California’s hottest nightclub was the main ballroom at Mortgage Innovators with its extensive techno play list. (Today’s podcast can be found here and this week’s ‘casts are sponsored by FirstClose, which provides fintech solutions to HELOC and mortgage lenders nationwide. Their home equity lending platform accelerates the home equity lending process, reducing application to closing times from 45 days to less than ten. Today we have an interview with Digital Risk’s Kim Lanham on how the Iran conflict and broader geopolitical uncertainty are influencing mortgage rates, borrower decision-making, servicing retention strategies, borrower assistance programs, and emerging credit and fraud risks across both Agency and non-QM lending.) Lender and Broker Products, Software, and Services Why Partnering with MSF as Your Sub-Servicer Is a Strategic Advantage: Built for Speed, Service, and Retention. In today's mortgage servicing landscape, smaller institutions often find themselves working with sub-servicers built for scale, not responsiveness. The result: delayed borrower support, missed engagement opportunities, and lost relationships. MSF Servicing was built to solve that problem. MSF delivers a level of attention larger providers cannot match. Every borrower inquiry, issue, and client request is handled on a same-day or 24-hour basis, because in servicing, speed drives retention. Timely, empathetic responses keep borrowers engaged and relationships intact. Delays create friction; responsiveness builds trust. Led by an industry veteran with deep expertise in customer service and loss mitigation, MSF brings proactive engagement and retention-focused outcomes to every portfolio it manages. The result: a sub-servicing partner who moves at the speed your borrowers expect and delivers the care your brand demands. Contact Rick Smith at 860-989-9006.

Forget What You Know About The Payroll Count

Fri, 08 May 2026 13:00:00 GMT

Everyone's been talking about the ongoing change in the significance of the payroll number in the jobs report. OK, not everyone, but economists and bond traders for sure. The issue is the rapid shift in the size of the labor force as well as recent volatility in the multiple jobholder category, among other things. Specifically, the labor force has been shrinking since November and was already growing at a slower rate before then. That means it takes a lower NFP number to keep unemployment flat. More importantly, it means that NFP is no longer the be all, end all economic indicator. For decades, NFP has been the go-to number in the jobs report while the unemployment rate was an afterthought. Now, it's the complete opposite. That's why NFP can come in at 115k vs 62k today while unemployment is 4.3 vs 4.3 and bonds are just a hair stronger (never would have happened before these structural changes began).

Another Mid-Day Reversal. Does Jobs Report Even Matter?

Thu, 07 May 2026 19:24:00 GMT

Another Mid-Day Reversal Driven by Dueling Headlines The overnight session featured a modest but clearly-defined rally in response to hopeful headlines on the Iran war. But as early a 9am ET, a complete reversal was beginning to take shape. Bonds remained in positive territory until the 11am hour when war headlines kicked selling into higher gear. Specifically, reports suggested Iran rejected the U.S. framework that helped bonds overnight. Separate news cited CIA sources, claiming Iran can withstand a Hormuz blockade for months. Selling continued in the afternoon on reports that had more to do with escalation risks (Saudi Arabia and Kuwait allowing U.S. forces to operate from their bases, explosions heard in Southern Iran). All told, 10yr yields were up more than 4bps by 3pm and MBS were down a quarter point. Econ Data / Events Challenger layoffs (Apr) 83.387K vs -- f'cast, 60.62K prev Continued Claims (Apr)/25 1,766K vs 1800K f'cast, 1785K prev Jobless Claims (May)/02 200K vs 205K f'cast, 189K prev Unit Labor Costs QoQ FinalQ1 2.3% vs 2.6% f'cast, 4.4% prev Market Movement Recap 08:32 AM stronger overnight and no reaction to econ data. MBS up an eighth and 10yr down 1.5bps at 4.331 11:31 AM moving into weaker territory now. MBS down 1 tick (.03) and 10yr up 1.4bps at 4.361 01:13 PM New lows for MBS, down 5 ticks (.16) on the day. 10yr up 3.4bps at 4.38 03:00 PM MBS at new lows, down 9 ticks (.28) and 10yr up 4.3bps at 4.39

Mortgage Rates Erase Early Improvement

Thu, 07 May 2026 18:46:00 GMT

The day began on a fairly hopeful note for the mortgage market. During overnight trading hours, the bond market improved following a report regarding a peace framework sent to Iran by The U.S. When bonds improve, rates fall, all else equal. The gains were modest, but they allowed the average lender to set their first rates of the day at slightly lower levels compared to yesterday. Lenders prefer a "one and done" strategy when it comes to setting mortgage rates for the day, but they will make mid-day changes if the underlying market moves enough. The underlying market began moving more than enough just before the noon hour. Most lenders were forced to recall their initial rate offerings and make upward adjustments. The net effect at the time of printing is that the average lender is back in line with yesterday's levels.

Hedging and Secondary, Verification, AI, Reverse, Ops Tools; Earnings; Market Muddle

Thu, 07 May 2026 15:53:00 GMT

Lender and Broker Products, Software, and Services Spring homebuying season is in full swing, and for many lenders, that also means a surge in home equity demand as borrowers tap rising property values. But growth can expose cracks. Every handoff, re-entry, and system switch adds time and increases the risk of human error. FirstClose is working to change that with its upcoming integration with MeridianLink Mortgage. By bringing purpose-built order management directly into the LOS, lenders can streamline valuations, settlement, and vendor coordination without leaving their existing workflow. The result is better visibility, faster turn times, and less manual effort. If you are a MeridianLink Mortgage user looking to simplify operations and scale home equity lending more efficiently, this is worth a closer look. Click here to read more. Heading to MBA Secondary & Capital Markets in New York? Connect with Planet’s Correspondent team to explore how expanding into non-agency, business purpose, and expanded credit can drive volume and margin alongside your agency production. Planet makes that expansion easier by delivering the same liquidity and pricing you rely on across Fannie Mae, Freddie Mac, FHA, VA, and USDA, and niche products like renovation, manufactured housing, and USDA. With full co-issue backed by consistent MSR pricing and fast funding, plus deep capital markets expertise and predictable execution from lock to funding, Planet helps you grow confidently while protecting profitability. Connect with SVP Correspondent Sales Jason Mac Gloan (843-625-6869) or visit here to schedule your meeting with Planet.