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Mortgage rates were priced at the most aggressive levels of our era on Wednesday following a steady stream of disappointing housing data that sent stock indexes lower. Rates did back up a few basis points yesterday for what seemed like no reason besides rally exhaustion, but we got those losses back...
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Mortgage rates are down. Mortgage rates are even lower! Mortgage rates are at new 2010 lows!! Mortgage rates are HIGHER!!! That's the most economical way to describe the directional movements of mortgage rates this week. Although the road was rocky (lots of reprice watching), mortgage rates generally...
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Let's recap the week before discussing what happened today. MONDAY : Mortgage Rates Rise as Flight to Safety Reverses Course Mortgage rates rose after the European Union announced over the weekend an official plan to address growing debt problems in their member countries, specifically Greece, Portugal...
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After a two day losing streak, mortgage rates found stable footing yesterday afternoon as a rally in the benchmark Treasury market helped move mortgage-backed security prices higher which allowed lenders to reprice mortgage rates for the bette. Our busy week of economic data and influential events comes...
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For most of yesterday's trading session it appeared mortgage rates were destined to move higher. Benchmark Treasury yields and mortgage-backed security prices opened lower and held near their weakest levels of the year all the way into the 7-year Treasury note auction. Many lenders actually repriced...
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While benchmark Treasury yields moved slowly higher throughout the course of the week as our government auctioned debt to raise spending money, mortgage-backed securities managed to maintain a pretty consistent price range. After all was said and done and the auctions were behind us, mortgage rates were...
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I described last week as a roller coaster ride for mortgage rates. A busy schedule of economic data provided much of the motivation for movement in the rates marketplace with the release of the Employment Situation Report on Friday capping off the volatile action. The jobs report indicated fewer jobs...
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Who Dat!!!! Congratulations to New Orleans on a well played and exciting Super Bowl victory. Mortgage rate moved a few basis points lower on Friday following the Employment Situation Report . While we have seen scattered day over day streaks of improvements, mortgages rates have failed to fall lower...
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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...
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All week we said "wait until Thursday to lock", "mortgage rates will improve after the bond auction on Thursday", "the end of the week will be the best time to lock in your loan". The Treasury auction came and went. After the last round of debt was sold, $13 billion of 30...
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Mortgage rates moved higher today as MBS prices fell following two better than expected economic reports. The move lower in MBS prices forced lenders to reduce rate sheet rebate, pushing consumer borrowing costs higher for the third consecutive day. The streak of rising rates was started by a weak 3...
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Rates rallied yesterday following a strong 5 year note auction. This helped pave the way for higher MBS prices and lower mortgage rates. By day's end MBS were testing historic price highs and lenders were repricing for the better. To remind readers, as MBS prices move higher, lenders are able to...
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It was a busy day in the rates market yesterday. Although several data releases needed to be digested, the main event was the 30 year bond auction. Recently, while demand for shorter maturity Treasury notes has proven stable in the "post-November 4 FOMC statement" environment, the market has...
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In honor of Veteran’s Day, the fixed income market was closed yesterday. A few lenders did issue rate sheets, most were priced conservatively, which is a common strategy on bank holidays. After a slow start to the week, we finally got some economic data to digest this morning. First out was the...
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Despite benchmark Treasury rates moving higher last week, prices of mortgage-backed securities managed to hold their ground, allowing mortgage rates to maintain status quo in their recent range. To remind readers, as prices of mortgage-backed securities move higher, lenders are able to pass along lower...