Mortgage rates moved higher today as MBS prices fell following two better than expected economic reports. The move lower in MBS prices forced lenders to reduce rate sheet rebate, pushing consumer borrowing costs higher for the third consecutive day. The streak of rising rates was started by a weak 3...
It was a busy day in the rates market yesterday. Although several data releases needed to be digested, the main event was the 30 year bond auction. Recently, while demand for shorter maturity Treasury notes has proven stable in the "post-November 4 FOMC statement" environment, the market has...
Today is the anniversary of September 11th, 2001. So I pause, as I hope you do, to take a moment to reflect. My heart and my prayers go out to anyone who was directly affected by those attacks and lost friends and family members. Despite a rally in stocks, mortgage backed securities managed to post nice...