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Mortgage rates ended last week at their best levels since early December. Then rates rose on Monday, gained back lost ground on Tuesday only to give back those improvements after the FOMC statement on Wednesday, weakness then extend over into Thursday. This left the par 30 year fixed mortgage rate in...
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Mortgage rates continued to rise yesterday as benchmark Treasury yields moved higher and prices of mortgage backed securities fell. MBS opened the day weaker and extended losses all the way into the close, forcing most lenders to reprice for the worse. By the end of the day, the par 30 year fixed mortgage...
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Mortgage rates went into the weekend on a sour note after benchmark Treasury yields moved higher and mortgage backed security prices fell. From a "glass half full" pespective, despite the Friday reprices for the worse, rates end the week basically where they started. Before I tell you what...
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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...