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Mortgage rates improved a few basis points yesterday, but only enough to recover loan pricing losses that occurred the previous day. A lack of meaningful economics data combined with a generally slow trading environment have kept mortgage rates in a tight range this week. Although benchmark Treasury...
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Last week consumers who were floating loans watched mortgage rates rise almost 0.25% by Friday. After touching five month lows in the previous week, better than expected economic data and corporate earnings reports pressured prices of mortgage backed securities lower which resulted in lender's raising...
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The secondary mortgage market went on quite a ride yesterday! Following a weaker than expected 5 year Treasury note auction, market participants hurriedly sold their fixed income investments ahead of the FOMC statement. This led to MBS falling below the recent range and a few lender reprices for the...
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U.S. jobless claims and existing home sales will dominate the scheduled events of the day, along with testimony from New York Fed President Timothy Geithner (voter) and SEC Chairman Chris Cox. Meanwhile, European markets will be paying attention to the release of the Belgian business confidence index...
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A final look at U.S. first quarter GDP and initial jobless claims will be the key releases of the morning followed by the releasing of U.S. existing home sales. Europeans will be paying attention to comments from J'rgen Stark of the European Central Bank and energy traders will focus on the release of...