The National Association of Realtors released the Pending Home Sales Index for November today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home...
S&P/Case-Shiller home price data and Consumer Confidence were both bond market friendly this morning. Yet the bond market did not react logically to the news. The 20 city home price index fell 1.3% vs. calls for a 0.6% MoM decline vs. the previous read of -0.8%. YoY the 20 city index was down 0.8...
The National Association of Realtors released the Pending Home Sales Index for October today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home...
The National Association of Realtors released the Pending Home Sales Index for September today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home...
Mortgage rates moved a few basis points higher for the second day in a row yesterday after several lenders were forced to reprice for the worse. The culprit was a modest stock market rally which led investors to sell their "flight to safety" positions. A flight to safety happens when investors...
Mortgage rates yesterday recovered the rate sheet losses lenders passed along to consumers last Friday. The was no specific reason for the modest improvement. Economic data was absent and trading activity was slow. For the most part, lenders were able to share small gains because mortgage-backed security...
Mortgage rates made marginal improvements in a slow trading environment yesterday. After some morning volatility, both Treasury yields and mortgage-backed security prices held to a tight range for the rest of the day. All lenders left rate sheets unchanged on the day. At 9:00am, S&P released the...
Lenders improved mortgage loan pricing by a few basis points early on yesterday, this helped mortgage rates end a three day losing streak. Although mortgage-backed securities prices improved throughout the course of the day, they did not rise enough in price to allow lenders to pass along another round...
There isn’t too much to report from yesterday. After a weak open, prices of mortgage backed securities moved sideways before eventually closing the day where they began. While there were no reports of lenders repricing for the worse, mortgage rates did move higher compared to last Friday's...
Since opening at the best levels seen since early December, the rates market has lost all progress and is now trading close to where we went out yesterday afternoon. Besides being weighed down by the $44 billion 2 year note auction, the stock lever has also exerted pressure on interest rates. In the...