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Mortgage rates held steady near the best levels of the year yesterday as both benchmark Treasury yields and mortgage-backed securities prices moved sideways despite a late day rally in stocks. The economic calendar was a bit busier today. First out was the Weekly Mortgage Bankers Association Applications...
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Mortgage rates moved a few basis points lower yesterday after lenders passed along the loan pricing improvements we should have been awarded on Friday afternoon. It was a volatile day in most financial markets, with the exception of mortgage-backed securities which traded in a very tight range. No lenders...
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Mortgage rates held steady near the lowest levels of the year yesterday as both stocks and bonds ended an "up and down" session relatively flat. Early this morning, the Mortgage Bankers Association released their Weekly Mortgage Applications Survey. The MBA survey covers over 50 percent of...
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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 greatly benefited from headline news yesterday. Around mid-morning we learned that Standard and Poor's had cut Greece's government debt rating all the way down to junk. That is as low as ratings go! Stocks, which have rallied for eight consecutive weeks, sold off sharply on the...
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Mortgage rates moved modestly higher yesterday morning. There was no direct cause for the rise in rates. The previous day stocks systematically rallied following an eight day losing streak. The bond market and consequently mortgage rates opened the day higher yesterday morning. Lenders left rate sheets...
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Mortgage rates yesterday ended a rally streak that brought consumer borrowing costs back down toward their best levels of 2010. Almost erasing all the losses experienced before and after the Federal Reserve exited the secondary mortgage market. After the steady recovery run seen in MBS over the last...
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Mortgage rates put a stop to a distressing losing streak yesterday as benchmark Treasury yields finally fell and prices of mortgage backed securities managed to rally. Mortgage rates opened the day better and were able to retain their early session improvements after the Treasury Department saw strong...
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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...
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Mortgage rates rallied lower yesterday after the Federal Reserve reiterated they intend to keep the Fed Funds rate at at exceptionally low levels for an “extended period”. The Fed also held steady in their belief that inflation is not posing a threat to economic stability. In regard to the...
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Much like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury debt auction, unfortunately MBS price appreciations were not strong enough to warrant...
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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 rose, stabilized, then rose again and again and again on Friday last week. That's a three day skid of rising rates. Economic data wasn't necessarily great, but it wasn't bad either. The Federal Reserve did hike the rate at which they lend emergency funds to banks in need. While...
Posted to
Mortgage Rate Watch
by
Victor Burek
on
Mon, Feb 22 2010
Filed under:
Filed under: mbs, mortgage rates, MBA, jobless claims, ben bernanke, treasuries, Mortgage Rate Outlook, lock, float, economic calendar
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Mortgage rates moved slightly lower yesterday as the interest rate market made modest improvements in the second half of the trading session. This allowed many lenders to reprice for the better at the end of the day. Both stocks and bonds rallied yesterday, this is not a normal occurrence. Typically...
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Mortgage rates moved up yesterday after the first of three treasury auctions scheduled this week failed to match expectations. Weak demand for $40 billion 3 year Treasury notes and the beginnings of a recovery bounce in stocks were cited as the driving force behind rising interest rates. There were a...