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Good Morning S&Ps opened lower then traded higher before closing near the same levels it they started the session yesterday. This tells us the stock market is indecisive after S&Ps broke 200 day moving average. In the chart below I have called attention to a potential " evening doji star...
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Mortgage rates moved a few basis points lower yesterday after producer price data indicated inflation is still not a market moving concern. This data came out early in the morning which allowed lenders to improve rate sheet pricing right out of the gates. After that, mortgage backed securities prices...
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Good Morning. Inflation data has hit screens. The Consumer Price Index was UNCHANGED in February (+0.0018)...this is cooler than consensus forecasts which called for a 0.1% gain. The CORE CPI print, which strips out food and energy, rose 0.1% in February---on the screws. Year over year, the consumer...
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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,...
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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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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...