-
Although it's a bit too soon to tell, perhaps we're seeing the first day of bond markets officially digging in and beginning the tough, slow push back against the recent period of unimaginable pain otherwise known simply as "October." The results of the 30yr Bond auction may help inform that eventuality...
-
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...
-
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...
-
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...
-
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 continued to tick higher yesterday as benchmark Treasury yields rose and prices of mortgage backed securities fell for the sixth consecutive session. Most of the losses occurred early in the day, so price weakness was already accounted for on lender rate sheets when theywere issued. The...
-
The mortgage market started off yesterday's session on fire. Mortgage-backed securities prices were deep in the green and lenders issued aggressive rate sheets. It was a great start to the day, but it didn't last. After reaching a peak in the morning, MBS gains gradually leaked out before morning...
-
Mortgage rates fell a few basis points yesterday as benchmark Treasury yields moved lower in the range. The extended rally in the rates market helped MBS prices tick higher which eventually resulted in lenders repricing for the better. An above average turnout at the 5yr note auction combined with an...
-
Although the market briefly tested the reliability of our lock/float strategy on Monday ("lock at the price highs, float at the price lows"), mortgage-backed security prices are returning to the confines of our comfort zone...also known as "THE RANGE". Following the seemingly bottomless...
-
The well defined range we have followed to gauge our lock/float sentiment is being challenged. Since the range proved itself a reliable indicator of demand for debt in the benchmark fixed income market, we have advised consumers to lock when mortgage prices were near the high side of the range and to...
-
Mortgage rates were mostly unchanged yesterday as the economic calendar was empty and the market settled in for another FOMC statement. Prices of mortgage-backed securities did manage to move marginally higher following a successful auction of 2 year Treasury notes, which saw the highest demand in over...