Mortgage rates initially started to rise yesterday morning but were quick to reverse course as stocks lost recovery momentum. The stock market's reversal of fortune forced investors to reallocate their funds into risk averse assets like government guaranteed U.S. Treasuries . This sent benchmark...
Good Morning. Happy Friday. A warmer than anticipated read on producer level inflation outweighed a rise in jobless claims and a better than expected Philly Fed print yesterday, this made it possible for traders to extend their bear steepening bias into next week's $118bn TSY coupon offering (+$8bn...
Mortgage rates moved higher yesterday morning...and then they moved even higher yesterday afternoon! The day began with mortgage-backed securities prices moving lower, which forced lenders to increase consumer borrowing costs before many rate watchers had a chance to get to a computer. Later in the day...
While mortgage rates ended the week on a three day losing streak , we did find solace in the fact that prices of mortgage-backed securities (MBS) were able to stabilized by the end of the trading session on Friday. After two better than expected economic reports, retail sales and consumer sentiment,...
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...