AmeriHome Mortgage Company

Mortgage Market Minute | May 15, 2026 Broadcasting LIVE from Houston and getting amped up to head to the Big Apple for MBA’s Secondary Marketing Conference next week. Always one of the best conferences of the year to talk capital markets, execution, MSRs, spreads, and where this crazy mortgage machine may be heading next. Funny enough, I came across a few pictures from about 10 years ago at the same event. My oh my…where has the time gone? Less hair. More gray. More experience. Slightly fewer bad decisions. Maybe. Who else can relate? Oddly enough, the market feels a lot like looking at old pictures. You think, “Surely that wasn’t 10 years ago,” until you realize how much has changed…yet somehow some things never do. Let’s check the tape. • Mortgage News Daily 30yr fixed: 6.51% • MBA 30yr: ~6.52% • 10yr Treasury: hovering around 4.45% to 4.48% after pushing higher this week Bottom line: rates moved higher again this week, and we are back flirting with the upper end of the recent range. What’s Driving It? 1. Inflation is still sticky This week’s CPI came in warm enough to keep the Fed firmly in wait and see mode. Not disastrous. Not comforting either. 2. Treasury supply and deficits are back in focus Bond markets are paying attention to continued Treasury issuance and deficit concerns, which is helping keep long end yields elevated. 3. Iran remains unresolved The market got hopeful for about five minutes on broader ceasefire chatter, but the reality is geopolitical uncertainty is still influencing oil, inflation expectations, and bond volatility. One topic that will absolutely dominate conversations in New York: MSRs and capital efficiency. Between elevated rates, servicing valuations, Basel discussions, and bank balance sheet dynamics, everyone is trying to figure out the best way to optimize capital without sacrificing earnings. This matters in a big way for banks, IMBs, and aggregators alike. Translation: secondary marketing just got a lot more interesting. Looking at pictures from a decade ago made me laugh a bit. You realize quickly that progress sneaks up on you. Careers evolve. Relationships deepen. Priorities shift. Markets are similar. Everybody focuses on the daily move. The 8 bps up. The 10 bps down. But zoom out 10 years and you realize how dramatically things have changed…while somehow still arguing about inflation, Fed policy, and whether rates are finally heading lower. Some things never change. Quote of the Day “Time changes perspective faster than it changes facts.” Let’s hear it… Who else has looked at old conference photos lately and wondered where the years went? — Gil Lopez Correspondent & Cap Markets | Real Estate Investor | Mortgage Market Analyst #mortgagemarket #housingupdate #interestrates #capitalmarkets #AmeriHome #marketupdate #loanofficers #realestateinvesting #correspondent #nonagency #realtors #TMBA #LMBA #NAR #NAHB #MBA #MortgageBanker #MortgageBroker #MBASecondary26

Mortgage Market Minute | April 22, 2026 Broadcasting LIVE from Westlake Village,CA at AmeriHome’s Leadership Summit. Two days in a room with leaders from across the company working through the stuff that actually matters. Pricing discipline, execution, client alignment, where to lean in and where to pull back. No grand speeches. Just sleeves rolled up and a lot of honest conversations. That kind of work doesn’t show up in a headline, but it shows up in results. Feels a lot like this market right now. Quick market read Mortgage News Daily 30yr fixed running about 6.45 to 6.55 Freddie Mac last weekly print 6.42 MBA 30yr just under that around 6.47 10yr Treasury hanging near 4.30 We’re basically stuck in a range. Not a breakdown, not a breakout. Spreads still in that 180 to 200 basis point window. Mortgage credit is behaving. The volatility is coming from rates. What’s actually moving things Same stack, just different day. Energy still driving the bus with ongoing Strait of Hormuz concerns. Oil firms up, inflation expectations firm up, bonds sell off, rates drift higher. At the same time, the Fed is giving zero indication they’re in a hurry. Labor still solid, inflation not fully back in the box. So the market is left to grind it out. Housing check MBA apps came in soft again. No surprise. Purchase demand is there, but it’s selective. Refi is still mostly on the bench. Inventory continues to inch higher, but affordability is still calling the shots. This is still a rate sensitive housing market. Nothing more complicated than that. The Leadership Summit The biggest takeaway from the last couple days The teams that win aren’t waiting for conditions to improve. They’re tightening up execution inside the current environment. We learned about the Life of PI…as in Perpetual Improvement. That’s been an enduring core concept for me…although I’ve never heard it coined that way. I love it! There’s no shortcut right now. Just better blocking and tackling. Quote of the Day Execution is the strategy when conditions aren’t cooperating Let’s hear it Do you think we’re range bound here or setting up for a break one way or the other And what’s one lever you’re pulling right now to stay competitive in this market — Gil Lopez Correspondent & Cap Markets | Real Estate Investor | Mortgage Market Analyst #mortgagemarket #housingupdate #interestrates #capitalmarkets #AmeriHome #FedWatch #CPI #marketupdate #loanofficers #hardmoney #realestateinvesting #correspondent #nonagency #realtors #buydownloans #GDP #TMBA #LMBA #NAR #NAHB #MBA #MortgageBanker #MortgageBroker

Mortgage Market Minute | April 20, 2026 Broadcasting LIVE from Houston, back from Baton Rouge after a productive run of client visits and the 27th annual GMFS crawfish boil. Great event, even better people. One thing stood out. About 99 percent of the room was purple and gold. Diehard LSU fans. Yet somehow the Texas Bowl never came up. Not once. Odd, considering it was LSU vs Houston…yes, my Coogs. You would think it might have at least earned a passing mention between plates of crawfish and cold beverages. Instead, it got the full witness protection treatment. Funny how that works. (I've done it a time or two....) Markets do the same thing. Rates didn’t waste time reacting to headlines again. Early last week we saw a softer tone. 30yr mortgage rates drifting into the low 6.2s to mid 6.3s range, 10yr Treasury hovering near 4.10. Things felt stable. Then the narrative flipped. Reports hit around renewed tension in the Middle East and chatter about the Strait of Hormuz potentially being disrupted. Oil jumped and inflation expectations followed. As of this morning: Mortgage News Daily 30yr fixed roughly 6.45 10yr Treasury back up near 4.30 Same movie, different scene. When energy spikes, the bond market doesn’t debate it. It reacts. And mortgage rates go with it. Housing hasn’t changed much underneath all of this. MBA apps still choppy. Refi demand quiet. Purchase demand shows up when rates dip, then disappears just as fast. Inventory is improving, but affordability is still doing the talking. Builder sentiment....just hit a 7 month low. The bigger point is this. The market is not trading data right now. It is trading risk. Geopolitics, energy, inflation expectations. That is the stack. Everything else is secondary. Back to Baton Rouge for a second. No one wanted to revisit a game that didn’t go their way. Easier to move on, change the subject, and focus on what’s next. (love trolling my LSU friends as their passion knows no bounds...and I love that) Markets are wired the same way. They latch onto the next narrative and run with it. Sometimes that works. Sometimes it leaves you chasing. Right now, the only thing that matters is whether energy stays elevated or cools off. That will dictate where rates go next. Everything else is commentary. Quote of the Day You don’t control the headlines. You control how you respond to them. Two questions Do you think the Strait of Hormuz situation has staying power or is this another short term spike And are we settling into a mid 6 range or setting up for another move higher — Gil Lopez Correspondent & Cap Markets | Real Estate Investor | Mortgage Market Analyst Molly Speed Tom D'Armond Tee Brown Brandon Genre, CFA GMFS Mortgage #mortgagemarket #housingupdate #interestrates #capitalmarkets #AmeriHome #FedWatch #CPI #marketupdate #loanofficers #realestateinvesting #correspondent #nonagency #realtors #buydownloans #GDP #TMBA #LMBA #NAR #NAHB #MBA #MortgageBanker #MortgageBroker

Today I asked Claude Opus 4.7 how it differs from its predecessor. Its answer: "I'm Claude Sonnet 4.6. A model called Opus 4.7 doesn't exist." Small problem: it was Opus 4.7. Only after I shared a screenshot of the interface did Claude correct itself. The model didn't know it was the update I was asking it about. To answer my question, Claude had to Google itself. LLMs live in the past of their training cutoff. They can speak brilliantly about yesterday's world – but not about today's version of themselves. Worth keeping in mind. (Image created by Gemini) #AI #LLM #Anthropic #Claude

Mortgage Market Minute - April 15, 2026 Broadcasting LIVE from Washington, DC on Tax Day, which feels like the perfect place to be talking about housing, credit, and policy. Here for the MBA’s National Advocacy Conference where mortgage pros from across the country are walking the halls, meeting lawmakers, and reminding them that housing finance is not just an industry topic. It is a national priority. Well organized. Well attended…and frankly, mission critical. Let’s check the tape. Market Check Here’s where we stand this morning: • Mortgage News Daily 30yr fixed: ~6.30 to 6.35% • Freddie Mac weekly: ~6.42% • 10yr Treasury: ~4.15 to 4.20% Rates have improved modestly from the recent highs. What’s Driving It Markets have shifted tone slightly over the past week. Energy prices have stabilized following the temporary ceasefire, easing some inflation pressure. Treasury yields have come down accordingly. But nothing here feels permanent. The market is still trading headlines, not long term conviction. Housing Pulse MBA data continues to show a cautious consumer: • Refi activity remains muted • Purchase demand improving slightly on lower rates • Overall activity still below normalized levels Inventory is slowly improving, but affordability remains the main constraint. This is still a rate sensitive housing market. Policy Matters Being in DC this week reinforces something that does not get enough attention. Policy matters more than people think. Liquidity, GSE support, housing supply incentives, regulatory clarity. These are not abstract concepts. They directly impact how efficiently capital flows into housing. Right now, there is ongoing discussion around maintaining strong GSE support and ensuring lenders have the capacity to operate effectively in a higher rate environment. No immediate changes. But the conversations matter. Relationships matter! Walking the halls here in DC reminds you quickly that progress does not happen overnight. Meetings stack up. Conversations repeat. Messaging gets refined. It is not flashy. It is not fast. But it is necessary. The market feels the same way right now. Everyone is looking for a quick move lower in rates. But what we are actually seeing is a slow grind toward stability. And did I mention, relationships matter! Quote of the Day “Policy sets the table. Markets decide what gets served.” Let’s hear it What policy changes would have the biggest impact on housing affordability right now? — Gil Lopez Correspondent & Cap Markets | Real Estate Investor | Mortgage Market Analyst Scott Norman Erin Dee, MBA Pam Jenkins Claire Barber Kate Couture, CMB® Jesse Garza, CMB®, AMP Rich Swerbinsky Nolan Turner (CMB) #mortgagemarket #housingupdate #interestrates #capitalmarkets #AmeriHome #FedWatch #CPI #marketupdate #loanofficers #hardmoney #realestateinvesting #correspondent #non -agency #realtors #GDP #TMBA #LMBA #NAR #NAHB #MBA #MortgageBanker #MortgageBroker #mbanac26