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Mortgage rates held steady near the best levels of the year yesterday as both benchmark Treasury yields and mortgage-backed securities prices moved sideways despite a late day rally in stocks. The economic calendar was a bit busier today. First out was the Weekly Mortgage Bankers Association Applications...
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Mortgage rates moved a few basis points lower yesterday after lenders passed along the loan pricing improvements we should have been awarded on Friday afternoon. It was a volatile day in most financial markets, with the exception of mortgage-backed securities which traded in a very tight range. No lenders...
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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 moved modestly higher yesterday morning. There was no direct cause for the rise in rates. The previous day stocks systematically rallied following an eight day losing streak. The bond market and consequently mortgage rates opened the day higher yesterday morning. Lenders left rate sheets...
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Mortgage rates put a stop to a distressing losing streak yesterday as benchmark Treasury yields finally fell and prices of mortgage backed securities managed to rally. Mortgage rates opened the day better and were able to retain their early session improvements after the Treasury Department saw strong...
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Early morning weakness in the bond market yesterday forced lenders to move mortgage rates slightly higher at the open. Several lenders did decide to delay the release of their rate sheets until interest rate volatility died down. Treasury yields and MBS prices then began to recover from their weakest...
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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...