July 2009 - Mortgage Rate Watch

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"Bernanke on Housing's Role in Recovery; Mortgage Rates Battle Back"

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Friday Rally Leads Mortgage Rates Lower

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by Victor Burek on July 31 2009, 4:21 PM

Not too often do we see a MBS rally on Friday, but it is happening today. Currently MBS are up .75 basis points which has resulted in most lenders repricing for the better. Fellow mortgage professionals are seeing improvements to price but it appears...
Mortgage Rates Lower After Treasury Auctions

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by Victor Burek on July 31 2009, 10:33 AM

The roller coaster theme continued yesterday but in reverse from the prior two days. If you recall, on both Tuesday and Wednesday mortgage backed securities rallied early on but gave back all the gains following disappointing treasury auctions of 2...
Frustrating Mortgage Rates Environment. Discussing "No Points" Loan

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by Victor Burek on July 30 2009, 11:38 AM

The theme of the week continues. Mortgage backed securities were again unable to hold onto early morning gains following a less than expected Durable Goods orders report. A very disappointing Treasury auction is to blame for the turnaround which moved...
Erratic Mortgage Rates in Volatile Marketplace

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by Victor Burek on July 29 2009, 9:46 AM

The roller coaster theme of recent weeks continues. Yesterday mortgage backed securities were unable to hold onto impressive early morning gains following weak demand at the 2 yr Treasury note auction. After the results were announced MBS gave back all...
The Roller Coaster Ride Continues. Mortgage Rates Improve

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by Victor Burek on July 28 2009, 10:15 AM

Reports from fellow mortgage professionals are indicating that mortgage rates are improved this morning. The par 30 year conventional rate mortgage is in the 5.00% to 5.25% range for the best qualified consumers. In order to qualify you must have a...
Rates Roller Coaster Ride & Discussing FHFA's HVCC Comments

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by Victor Burek on July 27 2009, 1:24 PM

Last week was roller coaster for mortgage backed securities. After a nice rally on Tuesday and Wednesday which brought the par 30 year fixed rate mortgage back under 5%, by Friday MBS ended up where the week began. We have seen a consistent pattern...
Mortgage Rates Fail to Hold Below 5.00%

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by Victor Burek on July 24 2009, 8:50 AM

In what has become a common occurrence of late, mortgage rates failed to hold below 5%. Following a sizeable rally earlier in the week, mortgage backed securities prices fell nearly a full point yesterday. Consequently lenders were forced to reprice for...
Mixed Markets Move Mortgage Rates Higher

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by Victor Burek on July 23 2009, 10:18 AM

Mortgage rates ticked lower yesterday after mortgage backed securities rallied on Tuesday. However, yesterday weakness in fixed income began to snowball and prices of mortgage-backed securities began to deteriorate. Unfortunately that weakness has carried...
Mortgage Rates Move Below 5%

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by Victor Burek on July 22 2009, 11:09 AM

Mortgage backed securities and treasuries went on quite a rally yesterday following Ben Bernanke’s first day of testimony on Capitol Hill. After opening to the downside, the fixed income sector started to gain momentum during Mr. Bernanke’s testimony...
Mortgage Rates Lower as Risk Aversion Sets In

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by Victor Burek on July 21 2009, 1:02 PM

Reports from fellow mortgage professionals indicate that mortgage rates are a few basis points lower today. This places the par 30 year conventional rate mortgage in the 5.00% to 5.375% range for the best qualified consumers. If you are planning on...
Mortgage Rates Moved Higher Last Week

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by Victor Burek on July 20 2009, 12:41 PM

Last week proved to be tough for mortgage backed securities. Many mortgage professionals and consumers alike cheered as rates opened Monday at 4.875%, the first time below 5% in over a month. However, that same crowd was booing as the week progressed...
Mortgage Rates Stabilize as Stocks Start to Stall

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by Victor Burek on July 17 2009, 12:43 PM

Mortgage backed securities managed to stabilize yesterday and recapture most of the losses over the previous couple of days. This improvement comes in spite of a continued rally in the equities market after better than expected earnings ...
Mortgage Rates Tick Higher Again

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by Victor Burek on July 16 2009, 1:11 PM

Mortgage rates took another step higher yesterday following a 3% rally in the stock market. Tame inflation and “not as bad” industrial production numbers have resparked the green shoots theory of a quick economic recovery. Market participants, not wanting...
Equities Rally Continue to Pressure Mortgage Rates

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by Victor Burek on July 15 2009, 12:38 PM

Mortgage backed securities had another losing day yesterday moving lower in price by .375 in discount. Many lenders did reprice for the worse as the losses held through close. The stock market is one of the driving forces behind bond market losses at...
Mortgage Rates Higher as Stock Market Awaits Earnings

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by Victor Burek on July 14 2009, 12:54 PM

After spending the majority of the session in a stable range yesterday, prices of mortgage backed securities lost their steadiness and ticked lower heading into the close forcing most lenders to re-price for the worse, increasing mortgage rates. The...

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