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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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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 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...