Mortgage rates initially started to rise yesterday morning but were quick to reverse course as stocks lost recovery momentum. The stock market's reversal of fortune forced investors to reallocate their funds into risk averse assets like government guaranteed U.S. Treasuries . This sent benchmark...
Good Morning. Happy Friday. A warmer than anticipated read on producer level inflation outweighed a rise in jobless claims and a better than expected Philly Fed print yesterday, this made it possible for traders to extend their bear steepening bias into next week's $118bn TSY coupon offering (+$8bn...
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...
After making noticeable improvements toward the end of last week, mortgage rates failed to extend positive progress yesterday. After a weak open, mortgage backed securities prices traded in a narrow range for most of the day. Despite MBS prices moving lower at the open, lenders were still able to offer...
Kansas City Fed President Thomas Hoenig (non-voter) says that inflation is becoming embedded in the economy and that may compel a significant interest rate hike . In a speech in Denver, Colorado, Hoeing that consumers are showing an "inflation psychology to an extent that I have not since the 1970s and...
Rising inflation fears led to an increase in mortgage rates across the board according to Freddie Mac's Weekly Primary Mortgage Market Survey for the week ended June 1. At the same time the survey conducted by the Mortgage Bankers Association had a more mixed outcome. Freddie Mac's survey placed the...