Mortgage borrowing costs moved higher yesterday morning as stocks rallied and investors sold their flight to safety positions in Treasuries. Rising benchmark yields pushed mortgage-backed securities prices lower and forced lenders to increase consumer borrowing costs by a few basis points. However things...
After two dataless days and no movement in mortgage rates, action picked up yesterday. Mortgage rates opened the day lower, however, thanks to big turnout at the 10 year Treasury note auction, enchmark yields rallied and mortgage-backed security prices moved higher into the close. We sat and waited for...
Mortgage rates ticked higher following a weak 10yr note auction yesterday, and then again this morning ahead of the 30 year bond auction. The Department of Labor released the weekly jobless claims numbers this morning. This data totals the number of Americans that filed for first time unemployment benefits...
All of the losses suffered in the rates market following the much better than expected employment report have now been recouped. Prices of mortgage backed securities have steadily improved yesterday, allowing many lenders to reissue rate sheets with better rebate and lower consumer borrowing costs. Although...
Last week was a very nice for mortgage rates. The economic data was mixed, some pointing toward economic growth, while some hinted at difficulty ahead for the recovery. Despite the mixed data, the prices of mortgage backed securities approached the highest levels of the year bringing mortgage rates to...