Early morning weakness in the bond market yesterday forced lenders to move mortgage rates slightly higher at the open. Several lenders did decide to delay the release of their rate sheets until interest rate volatility died down. Treasury yields and MBS prices then began to recover from their weakest...
Mortgage rates extended their streak of moving sideways near the most aggressive levels of the year yesterday. Although prices of mortgage backed securities were moderately weaker at the end of the day, lenders were not forced to reprice for the worse, leaving rates unchanged at the end of the day but...
Although prices of mortgage backed securities moved higher yesterday, lenders were unwilling to move mortgage rates lower. This was a frustrating event for most originators and borrowers who were expecting to see at least modest improvements in the primary market (mortgage rates) as the secondary market...
Mortgage rates continued to march upward yesterday as fixed income investors extended profit taking strategies 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...
Yesterday, following a better than expected read on Manufacturing and Pending Home Sales, benchmark rates backed up and prices of mortgage-backed securities moved lower, forcing several lenders to reissue new rate sheets with lower prices, therefore increasing consumer borrowing costs. The economic calendar...
Mortgage rates moved a few basis points lower yesterday after the bond market experienced what AQ and MG refer to as a "forced rally". Stocks were selling the dollar was stronger and the market was generally nervous about a weak Jobs report after Goldman Sachs revised their Non Farm Payrolls...