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Mortgage rates had a bad day yesterday. Consumer borrowing costs started moving higher early in the session and never looked back. We had no relevant data on the calendar today and the marketplace was generally quiet as many investors and decision makers took time off for religious holiday. This left...
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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 spent all last week attempting to recover from a few weeks of bad news in the bond market. We went home on Friday afternoon in good spirits as rates were seen at their best levels since the week before the Fed exited the mortgage backed securities market. The week ahead is very busy with...
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Mortgage rates moved a few basis points lower yesterday after producer price data indicated inflation is still not a market moving concern. This data came out early in the morning which allowed lenders to improve rate sheet pricing right out of the gates. After that, mortgage backed securities prices...
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Mortgage rates moved higher early Friday morning following a better than expected read on Retail Sales. However, as the day progressed, benchmark Treasury yields did move lower, helping mortgage-backed securities prices recover early session losses. Most lenders did not reprice for the better after these...
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All I can say about yesterday is that it was an UGLY UUUGLY day for interest rate watchers. Mortgage rates were pressured higher right out of the gate following a warmer than expected read on producer level price inflation. And then, to make matters worse, as the day progressed, benchmark rates drifted...
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Mortgage rates moved higher yesterday morning...and then they moved even higher yesterday afternoon! The day began with mortgage-backed securities prices moving lower, which forced lenders to increase consumer borrowing costs before many rate watchers had a chance to get to a computer. Later in the day...
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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 continued to move higher yesterday following a warmer than expected read on inflation at the producer level and a better than anticipated industrial production report. After the data was released, benchmark Treasury yields moved higher and prices of mortgage backed securities fell, forcing...
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Mortgage rates held stable for most of the day yesterday as an empty economic calendar left market participants to quietly ponder the Fed's upcoming monetary policy communication with the marketplace. In a VERY slow trading environment, both benchmark Treasury yields and prices of mortgage-backed...
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While mortgage rates ended the week on a three day losing streak , we did find solace in the fact that prices of mortgage-backed securities (MBS) were able to stabilized by the end of the trading session on Friday. After two better than expected economic reports, retail sales and consumer sentiment,...
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In a volatile session, mortgage rates ended yesterday's session unchanged as a small rally in benchmark Treasuries helped support the MBS market. Following weaker than expected economic data in the morning, rates rallied. However as profit taking took place later in the day, early session strength...
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Benchmark Treasury prices and mortgage-backed security prices rallied yesterday. AQ described the inner dynamics of the trade strategy that led to rate improvements READ MORE . In terms of the headline news catalyst for the rally in bond markets, some fixed income friendly verbiage from Federal Reserve...
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The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated...
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The bond market held up remarkably well yesterday considering stocks set new 2009 highs following more "better than expected" economic data and hopeful words from Fed Chairman Ben Bernanke. After reaching 3.49% yesterday the benchmark 10 yr Treasury note managed to rally of the lows, closing...