May 2010 - Mortgage Rate Watch

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"Mortgage Rates Improve on Weak Data, Greece Jitters"

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Mortgage Rates On Two Day Losing Streak. Lock Bias Stands

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by Victor Burek on May 27 2010, 10:07 AM

Even though economic data was WORSE THAN EXPECTED this morning, which usually benefits the fixed income sector and mortgages, interest rates continue to take their directional guidance from stocks. Specifically, when stocks rise, mortgage rates rise...
Mortgage Rates Inch Upward In Volatile Environment

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by Victor Burek on May 26 2010, 11:49 AM

The stock market rally that began yesterday afternoon extended into overseas trading last night and into this morning's trading session. Optimism in equities led investors to sell flight to safety positions in risk free Treasuries which pushed benchmark...
Mortgage Rates Improve But End Session Under Pressure

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by Victor Burek on May 25 2010, 6:29 PM

Overnight, stock markets around the world sold off due to continued debt concerns across Europe and tensions between North and South Korea. Stocks opened lower and another flight to safety led Treasury yields fell which pushed MBS prices higher. However...
What Will Move Mortgage Rates In The Week Ahead?

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by Victor Burek on May 24 2010, 12:13 PM

Mortgage rates capped off a great week in sour fashion last Friday. After four days of stock selling induced rate rallying, lenders were finally forced to reprice for the worse on Friday. While mortgage rates did rise more than they have on average, the...
Mortgage Rates End Great Week On A Bad Note

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by Victor Burek on May 21 2010, 5:45 PM

If you've been floating for the past few weeks, your rate has greatly improved. Even after rates mortgage rose today, they're still close to record low levels. Quite often people want to wait to see a clear bottom in mortgage rates, unfortunately...
Mortgage Rates Approaching Record Lows Thanks To Continued Flight to Safety

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by Victor Burek on May 20 2010, 6:25 PM

The flight to safety continued today as stocks moved lower around the world. This sent benchmark Treasuries to their lowest yields of the year and helped mortgage-backed security prices tick higher. We are seeing the best rate sheets of 2010 today and...
Mortgage Rate Rally Extends As Housing Demand Stumbles

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by Victor Burek on May 19 2010, 10:07 AM

It was another volatile day for both stocks and interest rates. The ups and downs in the market forced lenders to reprice for the worse, and allowed lenders to reprice for the better. All in all mortgage rates are modestly improved again today. Reports...
Mortgage Rates Still Steady Near New 2010 Lows. Multiple Lender Reprices Reported

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by Victor Burek on May 18 2010, 10:13 AM

Mortgage rates looked like they were going to move up today as stocks were indicated to open higher before the lenders published rate sheets. However it wasn't long before stocks lost momentum and a flight to quality led benchmark Treasury yields...
Mortgage Rates Hold New 2010 Low. Perspective Wanted On The Week Ahead

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by Victor Burek on May 17 2010, 4:33 PM

Reports from fellow mortgage professionals indicate lender rate sheets to be marginally better today. The par 30 year conventional mortgage rate is in the 4.75% to 5.00% range for well qualified consumers. More or less mortgage rates are unchanged from...
Mortgage Rates End Week at New 2010 Lows

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by Victor Burek on May 14 2010, 10:24 AM

For whatever reason, which fundamental and technical can be offered, stocks sold off today. The S&P was down 2.01% to 1135.80 and the Dow fell 1.50% to 10,621.14. This led to another "flight to safety" rally in Treasuries which led mortgage...
Lenders Keep Mortgage Rates Priced at Aggressive Levels

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by Victor Burek on May 13 2010, 9:50 AM

With rates at the best levels of the year, I continue to advise locking all loans closing within 30 days and also encourage you to consider longer term locks if your loan is closing beyond 30 days. Stocks have been the primary influence over mortgage...
Mortgage Rates Move Sideways At 2010 Lows. Still Locking Loans

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by Victor Burek on May 12 2010, 9:53 AM

The most mortgage rate influential event of the day was supposed to be the Treasury's auction of $24 billion of 10 year notes. However the auction results came and went, demand was healthy and once again there was no reaction in the markets. The was...
Mortgage Rates Hold Steady as Markets Mull European Bailout

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by Victor Burek on May 11 2010, 10:20 AM

Mortgage rates continue to take their directional guidance from headline news and stocks. Today stocks opened lower which helped Treasuries and MBS rally. However stocks regained their losses by mid-day and benchmark rates began to rise from the lows...
Mortgage Rates Rise as Flight to Safety Reverses Course

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by Victor Burek on May 10 2010, 10:12 AM

Over the weekend the European Union, IMF, and several Central Banks including the U.S. Federal Reserve announced a coordinated effort to put an official stop to the crisis of confidence in Europe (READ MORE). This action helped improve investor sentiment...
How Did The Employment Report Affect Mortgage Rates?

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by Victor Burek on May 07 2010, 6:44 PM

Normally a better than expected economic release, especially one as influential as the Employment Situation Report, gives stock traders a reason to buy. However the current market environment is far from normal. Instead of rallying, stocks moved lower...

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