Mortgage rates rose, stabilized, then rose again and again and again on Friday last week. That's a three day skid of rising rates. Economic data wasn't necessarily great, but it wasn't bad either. The Federal Reserve did hike the rate at which they lend emergency funds to banks in need. While...
Posted to
Mortgage Rate Watch
by
Victor Burek
on
Mon, Feb 22 2010
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Filed under: mbs, mortgage rates, MBA, jobless claims, ben bernanke, treasuries, Mortgage Rate Outlook, lock, float, economic calendar
Mortgage rates took a beating last week. Even the most aggressive lenders are now creeping towards 5.00% (for WELL-QUALIFIED borrowers). During the course of the holiday shortened work week, benchmark Treasury note yields rose persistently which lead mortgage backed security prices lower and forced lenders...
In honor of Veteran’s Day, the fixed income market was closed yesterday. A few lenders did issue rate sheets, most were priced conservatively, which is a common strategy on bank holidays. After a slow start to the week, we finally got some economic data to digest this morning. First out was the...