Mortgage rates moved a few basis points higher for the second day in a row yesterday after several lenders were forced to reprice for the worse. The culprit was a modest stock market rally which led investors to sell their "flight to safety" positions. A flight to safety happens when investors...
Mortgage rates yesterday recovered the rate sheet losses lenders passed along to consumers last Friday. The was no specific reason for the modest improvement. Economic data was absent and trading activity was slow. For the most part, lenders were able to share small gains because mortgage-backed security...
Mortgage rates made marginal improvements in a slow trading environment yesterday. After some morning volatility, both Treasury yields and mortgage-backed security prices held to a tight range for the rest of the day. All lenders left rate sheets unchanged on the day. At 9:00am, S&P released the...
Lenders improved mortgage loan pricing by a few basis points early on yesterday, this helped mortgage rates end a three day losing streak. Although mortgage-backed securities prices improved throughout the course of the day, they did not rise enough in price to allow lenders to pass along another round...
There isn’t too much to report from yesterday. After a weak open, prices of mortgage backed securities moved sideways before eventually closing the day where they began. While there were no reports of lenders repricing for the worse, mortgage rates did move higher compared to last Friday's...
Mortgage rates continued to tick higher yesterday as benchmark Treasury yields rose and prices of mortgage backed securities fell for the sixth consecutive session. Most of the losses occurred early in the day, so price weakness was already accounted for on lender rate sheets when theywere issued. The...
While day trading occupied the minds of fixed income market participants yesterday, prices of mortgage backed securities managed to tick higher, despite considerable gains in stocks. Rates moved higher in the opening hours of the session, however as losses were recovered later in the day, several lenders...
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"...
Mortgage rates were pushed higher yesterday after benchmark Treasury yields moved higher, outside the well defined range that has kept rates relatively stable since August. New supply of Treasury debt combined with several psychological factors pressured MBS prices lower and forced lenders to reprice...
Despite a rally in equity markets, prices of mortgage-backed securities moved higher yesterday. No economic data was released, trading volume was very thin, however MBS closed at their highest level since early this summer which allowed some lenders to reissue rate sheets with lower consumer borrowing...