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Mortgage rates yesterday ended a rally streak that brought consumer borrowing costs back down toward their best levels of 2010. Almost erasing all the losses experienced before and after the Federal Reserve exited the secondary mortgage market. After the steady recovery run seen in MBS over the last...
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Mortgage rates continued to move higher yesterday following a warmer than expected read on inflation at the producer level and a better than anticipated industrial production report. After the data was released, benchmark Treasury yields moved higher and prices of mortgage backed securities fell, forcing...
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After holding levels not seen since early this summer for over a week, mortgage rates are under some pressure to move higher. Yesterday, mortgage backed securities were lower in price which forced lenders to offer higher mortgage rates. The downward move continued all the way into close which led to...
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Highlights: The week begins with a slow start as no data will be released on Monday. Markets will likely look for news of how $75 billion will be raised by the ten banks in need of extra capital, as per the Stress Tests published last Thursday. Financial shares soared 23% last week, boosting U.S. markets...
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The Bank of Canada's rate decision and semi-annual testimony from Fed Chairman Ben Bernanke are the main events of what is looking to be an action-packed Tuesday. Markets will also be treated to the Canadian new motor vehicle sales, U.S. PPI and the Empire Fed's manufacturing index. At 7:45 a.m. EDT...