Mortgage rates rose, stabilized, then rose again and again and again on Friday last week. That's a three day skid of rising rates. Economic data wasn't necessarily great, but it wasn't bad either. The Federal Reserve did hike the rate at which they lend emergency funds to banks in need. While...
Mortgage rates moved higher for the second day in a row yesterday following another weaker than anticipated Treasury note auction. Less investor demand for 3 year and 10 year Treasury notes combined with what seems to be the beginnings of a recovery rally in stocks both contributed to rising consumer...
Mortgage rates rose after the release of the FOMC statement yesterday. Whiel the interest rate sell off wasn’t substantial, MBS prices declined enough to force lenders to reprice for the worse. Overall there were only small adjustements made to the FOMC statement. The vote on whether to raise or...
Following two days of improving consumer borrowing costs, mortgage rates took a small step back yesterday afternoon. Mortgage backed security prices moved higher early on in the day open which allowed many lenders to issue their best rate sheets in over a month, however the gains did not hold up. Following...
Mortgage rates have been stuck in a back and forth battle all week. We started the new year with improvements which carried over into Tuesday only to see positive momentum fizzle out yesterday morning after the St. Louis Federal Reserve released a paper titled:INFLATION MAY BE THE NEXT DRAGON TO SLAY...
Mortgage rates improved for the first time in six sessions yesterday as mortgage backed securities price appreciations early in the day allowed lenders to boost rate sheet rebate. Mortgage rates are slightly worse this morning after a better than expected Jobless Claims report. The weekly jobless claims...
Mortgage rates took a beating last week. Even the most aggressive lenders are now creeping towards 5.00% (for WELL-QUALIFIED borrowers). During the course of the holiday shortened work week, benchmark Treasury note yields rose persistently which lead mortgage backed security prices lower and forced lenders...
All of the losses suffered in the rates market following the much better than expected employment report have now been recouped. Prices of mortgage backed securities have steadily improved yesterday, allowing many lenders to reissue rate sheets with better rebate and lower consumer borrowing costs. Although...
The four day streak of rising mortgage rates extended into Friday following a much better than expected nonfarm payroll report. After reaching 4.50% on Monday, mortgage rates rose 0.25% to .375% by Friday. The week ahead is fairly light in terms of economic data. The only data due out today is Consumer...
Benchmark Treasury rates rose yesterday as fixed income investors continued to take profits following the "flight to safety" rally that took place after the Dubai story hit news wires last Wednesday. Consequently, mortgage rates suffered as prices of mortgage backed securities moved significantly...