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Poor reads on housing and manufacturing helped mortgage rates move back to historic lows yesterday. However as the day progressed mortgage-backed securities prices fell from their highs and some lenders were forced to reprice for the worse. Rate sheet recalls were not broad based though. We had only...
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Mortgage rates were under a modest amount of pressure yesterday but generally held near the most aggressive levels of our lifetime . The economic calendar was a busy today, starting with Jobless Claims. Released by the Department of Labor, this report provides three timely metrics on the health of the...
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Mortgage rates rallied to new all-time lows yesterday following a few disappointing housing headlines. While it has been no secret to housing industry professionals, the post-homebuyer tax credit hangover appears to have caught some folks on Wall Street off-guard. Stocks sold off, interest rates rallied...
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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 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...
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Mortgage rates moved in a tight range leading up to the release of the Employment Situation report last week. Friday morning came, the data diasspointed market participants, stocks sold off, a flight to safety ensued and mortgage-backed security prices closed at record highs. This allowed lenders to...
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Mortgage rates rose yesterday morning after optimism in equities led bond investors to sell their flight to safety positions in risk free U.S. Treasuries. This led mortgage-backed security prices lower and forced consumer borrowing costs higher. While the S&P failed to maintain momentum all the way...
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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 sideways near the lowest levels of 2010 yesterday as benchmark interest rates had little motivation to move in either direction. This allowed lenders to keep rate sheets unchanged on the day. "No trend" seems to be "the trend" in the financial markets lately....
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Mortgage rates inched lower yesterday as global investors continued to flock to risk free U.S. Treasury debt securities. This has been a constant theme in the rates market recently. However, while benchmark Treasury yields have moved considerably lower in a short time, mortgage rates have failed to keep...
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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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It's TAX DAY!!!! Make sure you have your returns or extension requests stamped by midnight. Mortgage rates moved higher for the second day in a row yesterday. Strength in the stock market and a better than expected retail sales data both contributed to rising mortgage rates. Helping stocks extend...
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Mortgage rates took a second step in the right direction yesterday after the Treasury Department reported strong demand at the 10 year Treasury note auction. This helped benchmark Treasuries rally which led the way for mortgage-backed securities prices to improve considerably. MBS price gains held steady...
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Mortgage rates improved a few basis points yesterday morning following a much weaker than forecast ADP employment number. However, as the day progressed and the reality of the Fed exiting the mortgage backed securities market sunk in, prices of MBS started to drift lower....and lower. MBS ended up closing...
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Mortgage rates took a beating yesterday as market participants sold their fixed income investments. This drove Treasury yields higher and MBS prices lower. The benchmark 10 year treasury note rose from a yield of 3.66 to 3.85 and the Fannie Mae 4.5 MBS coupon lost 100 basis points in price. Losses started...