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Poor reads on housing and manufacturing helped mortgage rates move back to historic lows yesterday. However as the day progressed mortgage-backed securities prices fell from their highs and some lenders were forced to reprice for the worse. Rate sheet recalls were not broad based though. We had only...
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Mortgage rates rose yesterday morning after optimism in equities led bond investors to sell their flight to safety positions in risk free U.S. Treasuries. This led mortgage-backed security prices lower and forced consumer borrowing costs higher. While the S&P failed to maintain momentum all the way...
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Last week ended on a sour note for mortgage rate watchers. Weakness stemmed from the Treasury Department's scheduled announcement which laid out the terms of this week’s auctions (debt offering). This combined with the fact that it was a Friday afternoon, the data calendar was empty, and interest...
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While benchmark interest rates continue to chop around in a contained range, mortgage-backed securities have moved sideways, failing to make much progress in either direction. Although we have experience a few moments of added volatility, tight trading ranges have kept and generally "topped out"...
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Mortgage rates fell a few basis points yesterday as benchmark Treasury yields moved lower in the range. The extended rally in the rates market helped MBS prices tick higher which eventually resulted in lenders repricing for the better. An above average turnout at the 5yr note auction combined with an...
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German employment data and M3 money supply top the euro zone's economic news as the UK market will receive the CBI's distributive trades report for August and house prices from Nationwide. In the U.S., the focus will be on preliminary Q2 GDP data and jobless claims figures, while Canadian markets receive...
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A final look at U.S. first quarter GDP and initial jobless claims will be the key releases of the morning followed by the releasing of U.S. existing home sales. Europeans will be paying attention to comments from J�rgen Stark of the European Central Bank and energy traders will focus on the release of...