How we think about the market.
The mortgage and housing market moves fast. The Basis Point is where our team breaks down what’s actually moving rates, prices, policy, and consumer finance – so you can move with confidence.
Independent analysis. Lender-grade insight.
The Basis Point (TBP) is The Chad Baker Team’s market intel publication, founded in 2008 by team member and originator Julian Hebron. It’s a trusted source for borrowers, advisors, journalists, and industry pros who need cleaner signal on housing, mortgage, rates, and consumer finance.
We share it with our clients, partners, and prospects for one simple reason: how we think drives how we lend. When you understand the market the way we do, you make better decisions – about when to buy, when to refinance, when to hold, and when to move.
TBP’s stated mission says it best: “Cut through the personal finance, real estate, and fintech clutter to give you smart, usable intel in a voice that doesn’t suck.”
Julian Hebron.
CCM Chad Baker Team member. The Basis Point founder.
Julian is a two-decade consumer finance veteranand one of the more widely-cited independent voices in housing and mortgage. He combines on-the-ground originator perspective with macro-level market analysis you’d typically only get from a sell-side research desk.
Before founding The Basis Point in 2008, Julian held executive sales and marketing roles at UBS, Wells Fargo, loanDepot, and LendUS / RPM Mortgage – giving him a rare line of sight across capital markets, retail lending, and direct-to-consumer fintech.
Today he splits his time between originating loans alongside Chad Baker and writing TBP for an audience of borrowers, brokers, lenders, investors, and policymakers who want the same intel he uses to advise his own clients.
Recent intel.
A look at how Julian is reading the market right now. Click any post to read it on thebasispoint.com.
Trump says Fed’s Lisa Cook is fired. Her lawyer (who’s repped Kushner, Trump families) vows to fight.
President Trump move to fire Fed governor Lisa Cook could end up being challenged at the Supreme Court if her lawyer Abbe Lowell prevails
Read on TBP →Homebuyer Good News: 27% Of Home Sellers and 38% Of Homebuilders Just Cut Prices
Homeowners who are selling cut prices on 27.4% of listings in July, and 37% of homebuilders cut prices by 5% in August.
Read on TBP →
Adam Neumann’s new startup Flow is WeWork for housing, and also solves remote work isolation
The future of living has working integrated into it.
Read on TBP →Why Mortgage Rates Can Actually Rise After The Fed Cuts
Everyone's eagerly awaiting the Fed's upcoming rate cuts, including mortgage rate shoppers and loan officers expecting rates to drop more. There's just one problem.
Read on TBP →March 2023 to 2024 jobs growth cut 818k. Here’s why it’s not as bad as it sounds.
Jobs growth cut 818k from March 2023 to 2024, and professional services were 358k of the cuts. Here's why these cuts don't hit the unemployment rate.
Read on TBP →Zuck’s rap on Meta Ray-Bans will win some over and wear the rest down
Zuckerberg says social media apps on phones have an “anti-social form factor,” so bring in the smart glasses. Obviously.
Read on TBP →Get the full intel.
Read The Basis Point for daily takes from our team on housing, rates, mortgage policy, and consumer finance.