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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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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 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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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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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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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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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...