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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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The Commerce Department released October New Residential Construction: Building Permits, Housing Starts, and Housing Completions data this morning. Housing Starts data estimates how much new residential real estate construction occurred in the previous month. New construction means digging has begun...
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The Census Department released September New Residential Construction: Building Permits, Housing Starts, and Housing Completions data this morning. Housing Starts data estimates how much new residential real estate construction occurred in the previous month. New construction means digging has begun...
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Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better this morning! This morning we got a read on the...
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Recap of Yesterday NAHB : Builder confidence falls in October. NAHB urges Congress to extend FTHB tax credit: “ Congressional action to expand the tax credit and extend it for one year would provide a critically needed boost to the employment market and economy, generating nearly 350,000 jobs,...
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It was a bumpy ride in the secondary mortgage market yesterday. At the open, MBS prices moved considerably higher, however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains. This forced several lenders...
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Recap of Yesterday Choppy rates session. FN 4.5 trades in 19 tick range...forcing us to issue two ALERTS. Mortgage Rates still holding at or below 5.00% (well qualified borrowers only) FN 4.5 +0-03 at 3pm marks. FN 4.5 -0-02 at 5pm. Current Coupon 4.39% at 3pm, 4.41% at 5pm. Yield spreads tighter vs...
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Tuesday presented some good news for the real estate market as Housing Starts improved above expectations in May. Inflation for producers was also more benign than expected. Together, the two releases are allowing futures to extend overnight gains. S&P 500 futures are now up 0.5%, compared to just...
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Markets have shown little concrete direction in recent weeks, and while there will be no shortage of data in the third week of June, no single release is a dominant market mover. For those in Real Estate , three releases will of direct interest: Monday’s NAHB builder confidence survey and Tuesday’s...
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Following a 3% gain on Monday, the S&P 500 is about neutral after the first hour of trading on Tuesday, a fitting response to a better than expected earnings report from Home Depot contrasts with worse than anticipated housing data. As of 10:30 am EST, the S&P 500 is up 0.44% to 913.7, the Dow...