October 2009 - Mortgage Rate Watch

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Mortgage Rates Back in the Range After Bad Day for Bonds

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by Victor Burek on October 30 2009, 10:18 AM

Mortgage rates rose yesterday after a better than expected advance read on third quarter GDP sent benchmark yields higher early in the trading session. Making matters worse for the fixed income sector was a recovery rally in stocks and a 1pm Treasury...
Mortgage Rates Higher After GDP, Jobless Claims Data

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by Victor Burek on October 29 2009, 10:38 AM

Mortgage rates fell a few basis points yesterday as benchmark Treasury yields moved lower in the range. The extended rally in the rates market helped MBS prices tick higher which eventually resulted in lenders repricing for the better. An above average...
Lock/Float Strategy Successful. Mortgage Rates Lower

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by Victor Burek on October 28 2009, 10:06 AM

Following the seemingly bottomless rates selloff that occurred on Monday, benchmark Treasury and MBS prices underwent a corrective rally yesterday. Buying beget more buying and before we knew it, the 10yr Treasury note yield was back under 3.50%, helping...
Mortgage Rates Teetering on Breakdown; Should the FTHB Tax Credit Be Extended?

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by Victor Burek on October 27 2009, 11:14 AM

Mortgage rates were pushed higher yesterday after benchmark Treasury yields moved higher, outside the well defined range that has kept rates relatively stable since August. New supply of Treasury debt combined with several psychological factors pressured...
Steady Mortgage Rates Put to The Test as Fed Exits Treasury Market

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by Victor Burek on October 26 2009, 1:00 PM

The well defined range we have used to gauge our lock/float sentiment is being challenged. Since the range proved itself a reliable indicator of demand for debt in the benchmark fixed income market, we have advised consumers to lock when mortgage prices...
Market Tests Our Lock/Float Strategy; FTHB Tax Credit Getting Bad Press

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by Victor Burek on October 23 2009, 11:06 AM

Reports from fellow mortgage professionals indicate lender rate sheets are similar to what we had yesterday morning. The par rate for a conventional 30 year fixed rate mortgage remains in the 4.875% to 5.125% range for well qualified consumers. To secure...
Lenders Take Back Yesterday's Rate Sheet Gains

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by Victor Burek on October 22 2009, 11:07 AM

After opening the day lower yesterday, MBS managed to rally steadily off the lows before a late day stock sell off added steam to the upward price momentum, which resulted in a few lenders repricing for the better by day's end. Several factors contributed...
Still More Risk than Reward in Floating

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by Victor Burek on October 21 2009, 12:21 PM

Reports from fellow mortgage professionals indicate that lender rate sheets are slightly worse today. The par 30 year conventional fixed mortgage rate remains in the 4.75% to 5.00% range for well qualified consumers. To secure a par interest rate you...
Lock at the Price Highs, Float at the Price Lows

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by Victor Burek on October 20 2009, 10:10 AM

Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better...
Mortgage Rates Take Direction from Fed Speakers

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by Victor Burek on October 19 2009, 10:33 AM

Last week consumers who were floating loans watched mortgage rates rise almost 0.25%. After touching five month lows in the previous week, better than expected economic data and corporate earnings reports pressured prices of mortgage backed securities...
Mortgage Rates End Week Higher

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by Victor Burek on October 16 2009, 10:53 AM

Mortgage rates moved slightly higher yesterday but managed to weather the storm of better than expected economic data and earnings reports. Today, mortgage-backed security prices are mostly unchanged and mortgage rates are a few basis points lower. However...
Mortgage Rates Fighting Off Rallying Stocks

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by Victor Burek on October 15 2009, 1:29 PM

The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment...
Strong Earnings Pressure Mortgage Rates Higher

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by Victor Burek on October 14 2009, 10:09 AM

Reports from fellow mortgage professionals indicate that mortgage rates have moved higher into the 4.875% to 5.125% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value...
Mortgage Rates Higher. House Passes Tax Credit Extension for Military

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by Victor Burek on October 13 2009, 10:52 AM

The bond market was closed yesterday in observance of Columbus Day so mortgage backed securities did not trade. Regardless of that, several lenders issued rate sheets, however as is typical of holiday pricing strategies, rate sheets were conservative...
Mortgage Rates Higher Heading Into Busy Week

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by Victor Burek on October 12 2009, 10:15 AM

The bond market is closed in observance of Columbus Day. While mortgage-backed securities are not being traded today, several lenders have published rate sheets and many originators are still working...so dont be afraid to contact your loan officer! ...

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