June 2008 - Mortgage Rate Watch

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"Mortgage Rates Improve on Weak Data, Greece Jitters"

Published: 2/14/2012

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Monday 6/30/08 ..... A wild week gives way to slight improvements

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by Matthew Graham on June 30 2008, 3:55 PM

A lot could have gone wrong last week. Several variables indicated that mortgage rates would be worsening by the end of the week. Also, we had the Federal Reserve's announcement on Tuesday afternoon regarding the decision to keep the benchmark lending...
Tuesday 6/24/08 ........... Lot's of Volatility and More to Come

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by Matthew Graham on June 24 2008, 4:15 PM

In A Word: It's been an extremely volatile environment for rates recently, with a huge upswing one day, followed by a huge downswing the next. Keep in mind that when we reference "huge" that is referring to huge swings in the PRICE of Mortgage Backed...
Thursday 6/19/08 ........... It Lasted! (but is fighting to "last" again)

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by Matthew Graham on June 19 2008, 4:56 PM

In A Word: Last time (no pun intended), we asked if the bit of positivity we experienced on Tuesday would last. It certainly did as Wednesday was a great day that saw Mortgage Backed Securities (MBS, the bonds that directly relate to mortgage rates) rise...
Tuesday 6/17/08 ...... Will It Last?

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by Matthew Graham on June 17 2008, 2:00 PM

In A Word: Finally we have a better than tepid improvement to MBS (Mortgage Backed Securities), this morning. MBS are the bonds backed by vast numbers of mortgages. Basically, they are the bonds investors buy when they want to invest in mortgages, so...
Monday 6/16/08 ....... Bond Buyers are Reading The Writing On The Wall : GO AWAY!

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by Matthew Graham on June 16 2008, 2:16 PM

In A Word: Despite weaker than expected economic data and the Dow average moving down, Mortgage bonds cannot seem to garner enough support to get rates to improve at all this morning. The Why: What does that headline mean? Recall that mortgage rates are...
Mid Day Update

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by Matthew Graham on June 11 2008, 4:25 PM

It looks like there may be a reprice for the worse very soon from some lenders (no way to tell if yours is one of them). So it is no longer recommended to float through the end of the day.
Wednesday 6/11/08 ..... Here's that Rebound

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by Matthew Graham on June 11 2008, 2:05 PM

In A Word: As we discussed, there was a potential for mortgage rates to rebound slightly from yesterday's "hammering" regardless of data this morning and simply because it's the psychological nature of cyclical securities to take 2 steps forward and one...
Tuesday 6/10/08 ..... Completely Hammered!

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by Matthew Graham on June 10 2008, 10:53 PM

In A Word: Mortgage rates that is! The scheduled economic releases today were few and uneventful, but inflation drove the bond market into a panic. The Why: Remember that mortgage rates are dictated directly by the trading of Mortgage Backed Securities...
Monday 6/9/08 ......... Mortgage Rates Rising Again

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by Matthew Graham on June 09 2008, 3:51 PM

In A Word: Due to stronger than expected news concerning pending home sales, mortgage rates have risen since last week. The Why: Remember that mortgage rates are dictated directly by the trading of Mortgage Backed Securities, which are essentially bonds...
Wednesday 6/4/08 ...... Slightly Worse than yesterday

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by Matthew Graham on June 04 2008, 2:04 PM

In A Word: The data from scheduled economic reports is slightly better than expected this morning which is causing some worsening to mortgage rates. Remember, a stronger than expected economy builds faith in the stock market and other growth dependent...
Tuesday 6/3/08 ... Rocky Start, but Back In Action

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by Matthew Graham on June 03 2008, 5:20 PM

In A Word: Although rates were at risk of getting worse this morning, the forces that move rates behind the scenes have turned positive which should lead rates, by the end of the day at least, to be the same as yesterday's. Keep in mind that as the bonds...
6/2/08 ..... Off To A Good Start

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by Matthew Graham on June 02 2008, 1:51 PM

(the following was accidentally posted in the wrong section yesterday. This was posted 6/2 and a new post should follow shortly for today) In A Word: Despite some stronger than expected scheduled economic reports (which are normally bad for mortgage)...

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