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Much like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury debt auction, unfortunately MBS price appreciations were not strong enough to warrant...
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Mortgage rates moved slightly lower yesterday as the interest rate market made modest improvements in the second half of the trading session. This allowed many lenders to reprice for the better at the end of the day. Both stocks and bonds rallied yesterday, this is not a normal occurrence. Typically...
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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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Mortgage rates ended last week with a bit of a let down as the much anticipated Employment Report came and went. Although the data was worse than expected, something that is normally interest rate friendly, the bond market failed to make any positive progress and mortgage rates moved slightly higher...
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Mortgage rates made modest improvements yesterday thanks to a rally in benchmark Treasuries and mortgage backed securities. The extension of the Monday afternoon rates rally yesterday allowed most lenders to reprice for the better which pushed mortgage borrowing costs lower. Early on today it appeared...
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Mortgage rates fell a few basis points yesterday as prices of mortgage backed securities traded near the top of the current range. Helping benchmark yields and MBS prices improve was a weaker than expected read on the housing market and tame inflation data. At the open of trading this morning, MBS have...