The relentless mortgage rate rally continued yesterday. Lenders were seen offering the most aggressive loan pricing of our lifetime, again, as stocks extended their losing streak and risk-averse investors piled funds into government guaranteed U.S. Treasuries. High demand for risk free has bonds led...
Early morning weakness in the bond market yesterday forced lenders to move mortgage rates slightly higher at the open. Several lenders did decide to delay the release of their rate sheets until interest rate volatility died down. Treasury yields and MBS prices then began to recover from their weakest...
Mortgage rates ended last week at their best levels since early December. Then rates rose on Monday, gained back lost ground on Tuesday only to give back those improvements after the FOMC statement on Wednesday, weakness then extend over into Thursday. This left the par 30 year fixed mortgage rate in...
The six day streak of rising mortgage rates finally stalled out yesterday! Although mortgages started the session on a negative note, mortgage-backed securities prices managed to recovery all early losses following a slightly above average 5 year Treasury note auction. After the auction, several lenders...
Mortgage rates took a beating last week. Even the most aggressive lenders are now creeping towards 5.00% (for WELL-QUALIFIED borrowers). During the course of the holiday shortened work week, benchmark Treasury note yields rose persistently which lead mortgage backed security prices lower and forced lenders...
Mortgage rates rose yesterday after a better than expected advance read on third quarter GDP sent benchmark yields higher early in the trading session. Making matters worse for the fixed income sector was a recovery rally in stocks and a 1pm Treasury auction. As explained in previous posts, added supply...
Mortgage rates were were unchanged for the most part yesterday as prices of mortgage-backed securities held to their recent range. Following Monday’s light volume trading session which pushed MBS prices to levels not seen in months, trading volume picked up yesterday and MBS were able to hold onto...