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In a volatile session, mortgage rates ended yesterday's session unchanged as a small rally in benchmark Treasuries helped support the MBS market. Following weaker than expected economic data in the morning, rates rallied. However as profit taking took place later in the day, early session strength...
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In honor of Veteran’s Day, the fixed income market was closed yesterday. A few lenders did issue rate sheets, most were priced conservatively, which is a common strategy on bank holidays. After a slow start to the week, we finally got some economic data to digest this morning. First out was the...
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Mortgage rates ticked higher yesterday as prices of mortgage backed securities were pressured lower by a selloff in the long end of the Treasury yield curve. To remind readers, as prices of MBS and Treasuries fall, their yields or rate increase…price and yield have an inverse relationship. No...
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The Mortgage Bankers Association today released the Weekly Survey on Mortgage Application Activity for the week ending October 23, 2009. Housing is a key component of economic forecasts, thus real estate surveys and housing data are closely scrutinized by policy makers. The Mortgage Banker's application...
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The Mortgage Bankers Association (MBA) today announced it has convened an executive-level panel of members to make policy recommendations to help ensure that the Federal Housing Administration (FHA) can continue to fulfill its mission in an evolving mortgage marketplace.
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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...
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Yesterday, prices of mortgage backed securities managed to regain some of the losses suffered at the end of last week which allowed lenders to offer better mortgage rates. After the closing bell, Intel reported better than expected earnings which caused a selloff in Treasury futures. Selling then intensified...
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Prices of mortgage backed securities held to a tight range yesterday, closing the day in essentially the same place they opened. The lack of volatility in MBS prices allowed lenders to keep mortgage rates near five month lows. Yesterday's main event, besides weakness in the dollar and record high...
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The bond market held up remarkably well yesterday considering stocks set new 2009 highs following more "better than expected" economic data and hopeful words from Fed Chairman Ben Bernanke. After reaching 3.49% yesterday the benchmark 10 yr Treasury note managed to rally of the lows, closing...
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So far this AM ADP employment down 298k, more than expected Still, we're shocked ADP is even line 1 news Mortgage Banker's Association on government's future role in secondary mortgage market: " The centerpiece of federal support for the secondary mortgage market should be a new line...