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What's a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become in order to be traded on the open market (thus allowing lenders to make more loans with less risk and lower rates). As investors buy and sell bonds throughout the day, bond prices change. The higher the price, the lower the implied interest rate. Simply put, if bonds are rallying, rates should be falling shortly thereafter. The 10yr Treasury yield is typically an excellent barometer for mortgage rate movement. 10yr Treasuries and mortgage-backed bonds tend to correlate extremely well. As such, we might expect a more significant improvement in mortgage
Mortgage Rate Watch
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What's a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become... (read more)
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Housing News
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The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology's (formerly Ellie Mae's) records, an average of 2.93 percent and a 4-basis point decline from the November rate. The company,... (read more)
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MBS Commentary
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MBS Outperform Treasuries Thank to Light Supply at Fed Buying Operation
Treasuries didn't gain any new ground today, but it's a bit of a victory to simply hold below the recent floor at 1.075%. Moreover... (read more)
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Housing News
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Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors® (NAR) said sales in the last month of the year rose 0.7 p... (read more)
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Housing News
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The annual increases in U.S. home prices is nearing dizzying levels. The November data from the Federal Housing Finance Agency (FHFA) crossed into double digits for the second consecutive month while the months numbers from S&P CoreLogic Case-Shi... (read more)
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Rob Chrisman
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While the Biden Administration waits for the Trump staff to tell them the Wi-Fi password in the White House, the government continues to occupy our thoughts. “The government should not vaccinate health care workers first. Because if it fails, w... (read more)
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