Mortgage rates moved higher for the second day in a row yesterday as investors took profits and set up positions for the release of Non-Farm Payrolls data today. As a reminder, when mortgage-backed securities prices move lower, lenders are forced to offer higher mortgage rates. If MBS prices move higher...
Benchmark Treasury rates rose yesterday as fixed income investors continued to take profits following the "flight to safety" rally that took place after the Dubai story hit news wires last Wednesday. Consequently, mortgage rates suffered as prices of mortgage backed securities moved significantly...
I hope everyone had a fantastic holiday weekend...now it’s back to work. Last week ended on a flat note with mortgage backed securities closing basically where they opened Friday morning. Bolume was extremely light but that was expected as the markets were only open for a half day. The data calendar...
Mortgage backed securities continued to rally on Wednesday, closing within a quarter point of all time highs. As is typical during holiday shortened work week's, most lenders did not pass along the improvements; however, the rates we saw on Wednesday were still near record lows. The big news this...
Despite a rally in equity markets, prices of mortgage-backed securities moved higher yesterday. No economic data was released, trading volume was very thin, however MBS closed at their highest level since early this summer which allowed some lenders to reissue rate sheets with lower consumer borrowing...