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Mortgage rates inched lower yesterday morning after rising modestly on Monday. While consumer borrowing costs did improve, the day ended with rates under pressure as stocks made a late afternoon comeback from the lows of the session. No lenders repriced for the worse but these events were an omen for...
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Mortgage rates capped off a great week in sour fashion last Friday. After four days of stock selling induced rate rallying, lenders were finally forced to reprice for the worse on Friday. While mortgage rates did rise more than they have on average, the best 30 year conventional fixed loan rate was still...
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Mortgage rates bounced around a tight range for most of the week. There wasn't much in the way of news to motivate movement in the first three days of the week. Although we did get several key earnings releases, the economics calendar was essential empty and the market's general tone reflected...
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Consumer mortgage borrowing costs improved a few basis points yesterday as prices of mortgage backed securities ticked higher, recapturing the price losses that occured late last week. As the price gains held through close, most lenders repriced better, lowering consumer borrowing costs by 0.125 to 0...
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Mortgage rates improved a few basis points yesterday. Lenders were somewhat subdued in passing along interest rate improvements though. This is a function of a few reasons. First, mortgage-backed securities prices have held to a tight range over the course of the week. The second reason is a bit more...
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Although the market briefly tested the reliability of our lock/float strategy on Monday ("lock at the price highs, float at the price lows"), mortgage-backed security prices are returning to the confines of our comfort zone...also known as "THE RANGE". Following the seemingly bottomless...
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Mortgage rates moved lower a few basis points yesterday after prices of mortgage backed securities steadily appreciated throughout the day. At 5pm, MBS prices were near their highest level in over 4 months. The main driving force of the move higher was a much weaker than expected existing home sales...