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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 went into the long holiday weekend in an uneventful manner last Friday. The day began with lenders publishing similar loan pricing to what we saw on Thursday. Things started to look up for rate watchers when stocks sold off because it led investors to reallocate their funds into risk averse...
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Happy Cinco de Mayo! Mortgage rates fell a few more basis points yesterday as global economic concerns continue to lead nervous investors to re-allocate their funds into risk free benchmark Treasury debt. This "flight to safety" helped mortgage-backed securities prices tick higher which has...
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Mortgage rates last week benefited from nervous investor sentiments regarding the fate of Greece and Goldman Sachs. A lack of conviction to own risky stocks heading into the weekend led to a flight to safety rally in benchmark Treasuries which helped mortgage-backed securities and allowed lenders to...
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Mortgage rates rose anywhere from 0.125 to 0.375% last week as the end of the Federal Reserve's MBS purchase program followed by a positive jobs report were too much for the bond market to handle at once. It could have been worse though. While the Federal Reserve's withdrawal from the secondary...
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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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Early morning weakness in the bond market led lenders to publish rate sheets with higher mortgage rates yesterday morning. However, just after lunch, the fixed income sector went on a mini rally and recaptured all the morning price losses. As the price gains held until close, most lenders did reprice...
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Mortgage rates ended last week near the lows of 2010 as mortgage backed securities prices rallied higher in the first half of the day. This allowed most lenders to publish improved rate sheets. Unfortunately these gains didn't make it through the day, MBS prices fell late in the afternoon which forced...
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Mortgage rates held steady yesterday near what might turn out to be the most aggressive levels of 2010. Mortgage backed securities prices did not move too high or too low without quickly correcting, not much progress was made in any direction yesterday or for the last few weeks for that matter . Early...
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Mortgage rates made modest improvements yesterday thanks to a rally in benchmark Treasuries and mortgage backed securities. The extension of the Monday afternoon rates rally yesterday allowed most lenders to reprice for the better which pushed mortgage borrowing costs lower. Early on today it appeared...
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I hope everyone had a fantastic Christmas break and a safe new year. Welcome to 2010! While many market watchers discount the final few weeks of trading activity because decision makers are generally out of the office, it does not change the fact that mortgage rates ended the year on a month long losing...
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Benchmark Treasury rates rose yesterday as fixed income investors continued to take profits following the "flight to safety" rally that took place after the Dubai story hit news wires last Wednesday. Consequently, mortgage rates suffered as prices of mortgage backed securities moved significantly...
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Prices of mortgage backed securities hit a new all time high yesterday. To remind readers, as prices of mortgage backed securities move higher, lenders are able to offer lower mortgage rates. Unfortunately, despite the move higher in MBS prices, lenders have been reluctant to push mortgage rates much...
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Mortgage rates ticked higher yesterday as prices of mortgage backed securities were pressured lower by a selloff in the long end of the Treasury yield curve. To remind readers, as prices of MBS and Treasuries fall, their yields or rate increase…price and yield have an inverse relationship. No...
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Last week ended on positive note for mortgage backed securities and mortgage rates. As stock indexes fell, market participants re-allocated portfolios from risky assets to safer investments, resulting in added demand for government AAA rated fixed income securities. The benchmark 10 yr Treasury note...