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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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Benchmark Treasury prices and mortgage-backed security prices rallied yesterday. AQ described the inner dynamics of the trade strategy that led to rate improvements READ MORE . In terms of the headline news catalyst for the rally in bond markets, some fixed income friendly verbiage from Federal Reserve...
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The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated...
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The bond market is closed in observance of Columbus Day. While mortgage-backed securities are not being traded today, several lenders have published rate sheets and many originators are still working...so dont be afraid to contact your loan officer! Last week ended on a sour note as prices of mortgage...
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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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After holding levels not seen since early this summer for over a week, mortgage rates are under some pressure to move higher. Yesterday, mortgage backed securities were lower in price which forced lenders to offer higher mortgage rates. The downward move continued all the way into close which led to...
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Mortgage rates continue to hold below 5% despite some better than expected economic data last week. As a general rule, better than expected economic data usually leads to higher mortgage rates while worse than expected data improves rates (that has not been the case recently though). At the close on...
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Following weaker than expected data on retail sales and higher unemployment claims, consumer borrowing costs declined yesterday. Led by a post auction Treasury rally, price of mortgage backed securities moved higher yesterday, giving lenders the opportunity to drop mortgage rates a few basis points....
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If the first 2 hours of trading are any guide, markets will see their third day of gains this week following two weeks of declines. And stocks aren’t just up ― they’re soaring. Just before noon, the Nasdaq is up 2.66% to 1847, its highest reading since July 1. The Dow has climbed 2.11% to...
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Highlights: The week begins with a slow start as no data will be released on Monday. Markets will likely look for news of how $75 billion will be raised by the ten banks in need of extra capital, as per the Stress Tests published last Thursday. Financial shares soared 23% last week, boosting U.S. markets...