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Mortgage rates dodged a bullet yesterday. As you know mortgage rates have basically mirrored the movements of the stock markets recently. As stocks rallied, loan pricing worsened and mortgage rates rose. As stocks sold, loan pricing improved and mortgage rates fell. This relationship has dictated the...
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Mortgage rates extended their recent rally yesterday as stocks slide and investors continued to flock to risk averse assets like U.S. government guaranteed Treasury debt. Much like Tuesday, it was an "up and down" day in financial markets. Mortgage rates were initially indicated higher at the...
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Mortgage rates moved a few basis points lower yesterday after producer price data indicated inflation is still not a market moving concern. This data came out early in the morning which allowed lenders to improve rate sheet pricing right out of the gates. After that, mortgage backed securities prices...
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Yesterday, mortgage backed securities closed at their highest prices since early December which allowed lenders to offer the best mortgage rates seen in 2010. These improvements have extended over into today after some unexpected news from the Obama Administration. But first a recap of morning economic...
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The FOMC meeting is now behind us. The bond market's initial reaction to the Fed statement was not positive, at least not initially. 10 year Treasury yields rose from 3.56% to 3.61% and MBS prices fell, however before the end of the day the "knee jerk" reaction corrected and Treasury yields...
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Trading action in the rates market yesterday was similiar to the previous session: early morning weakness, followed by a move higher in the lunch hour, which was then lost heading into the close. News and events were fairly positive for the fixed income sector which helped spark the move higher in price...
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Two hours before the opening bell stock futures are pointing at a flat open, though the 8:30 release of Jobless Claims could offer some direction. More importantly, markets will be still be digesting news from the Obama administration’s plans to revamp the regulation system, as Treasury Secretary...
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Positive data and hopeful testimony from Treasury Secretary Tim Geithner at 10 am haven’t been enough to push markets higher following a lower opening on Thursday. Investor sentiment remains weary from Wednesday’s slide and a sour Jobless Claims report an hour before the opening bell. Roughly...