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Mortgage borrowing costs moved higher yesterday morning as stocks rallied and investors sold their flight to safety positions in Treasuries. Rising benchmark yields pushed mortgage-backed securities prices lower and forced lenders to increase consumer borrowing costs by a few basis points. However things...
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Mortgage rates held steady near the lowest levels of the year yesterday as both stocks and bonds ended an "up and down" session relatively flat. Early this morning, the Mortgage Bankers Association released their Weekly Mortgage Applications Survey. The MBA survey covers over 50 percent of...
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Mortgage rates started this week much of the same way they ended the previous one: recovering No specific economic release or headline news event can be given credit for the recent rates recovery rally. Some say the bond market is preparing for a weaker than expected corporate earnings season followed...
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After two dataless days and no movement in mortgage rates, action picked up yesterday. Mortgage rates opened the day lower, however, thanks to big turnout at the 10 year Treasury note auction, enchmark yields rallied and mortgage-backed security prices moved higher into the close. We sat and waited for...
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Mortgage rates moved up yesterday after the first of three treasury auctions scheduled this week failed to match expectations. Weak demand for $40 billion 3 year Treasury notes and the beginnings of a recovery bounce in stocks were cited as the driving force behind rising interest rates. There were a...
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Although lender's adjusted mortgage loan pricing by a few basis points yesterday, for the most part mortgage rates were unchanged as the bond market failed to make much progress in either direction. In the absence of economic data and noteworthy events, it was a pretty boring session yesterday. Both...
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Mortgage rates ticked higher following a weak 10yr note auction yesterday, and then again this morning ahead of the 30 year bond auction. The Department of Labor released the weekly jobless claims numbers this morning. This data totals the number of Americans that filed for first time unemployment benefits...
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All of the losses suffered in the rates market following the much better than expected employment report have now been recouped. Prices of mortgage backed securities have steadily improved yesterday, allowing many lenders to reissue rate sheets with better rebate and lower consumer borrowing costs. Although...
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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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Following a somewhat disappointing 30 year bond auction yesterday, prices of mortgage backed securities plummeted and mortgage rates moved higher as lenders repriced for the worse. The economic calendar, like the previous four days of the week, is light today with only one report being released, International...
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Last week was a very nice for mortgage rates. The economic data was mixed, some pointing toward economic growth, while some hinted at difficulty ahead for the recovery. Despite the mixed data, the prices of mortgage backed securities approached the highest levels of the year bringing mortgage rates to...