Poor reads on housing and manufacturing helped mortgage rates move back to historic lows yesterday. However as the day progressed mortgage-backed securities prices fell from their highs and some lenders were forced to reprice for the worse. Rate sheet recalls were not broad based though. We had only...
Last week ended with mortgage rates on hold at the best levels of our lifetime following a weaker than expected Employment Situation report. The most anticipated event in the week ahead is the Federal Open Market Committee’s meeting, where our nation’s monetary policy is set. It is widely...
First of all I would like to thank AQ for taking over my blog last week while I enjoyed some much needed vacation time. Thanks Adam! Mortgage rates withstood everything related markets could throw their way last week. While several market crosswinds, created by new economic data releases, the beginning...
The Week Ahead: Risk On or Risk Off? Stocks have rallied off long term support levels and bonds begun to back away from double-dip territory. In the week ahead, the onset of Q2 earnings season is expected to test the pessimistic will of the macroeconomic investing environment. While microeconomic profits...
I hope everyone had a safe holiday weekend. U.S. markets were closed yesterday in honor of Independence Day . Banks did not issue rate sheets. The week ahead is one day shorter and several economic releases lighter. Here's a look at what might move mortgage rates in the week ahead . Tomorrow MBA...
Mortgage rates were under a modest amount of pressure yesterday but generally held near the most aggressive levels of our lifetime . The economic calendar was a busy today, starting with Jobless Claims. Released by the Department of Labor, this report provides three timely metrics on the health of the...
The relentless mortgage rate rally continued yesterday. Lenders were seen offering the most aggressive loan pricing of our lifetime, again, as stocks extended their losing streak and risk-averse investors piled funds into government guaranteed U.S. Treasuries. High demand for risk free has bonds led...
Mortgage rates hit the lowest levels of a lifetime last week. The most aggressive loan pricing was seen on Wednesday following a string of weaker than expected housing data. While mortgage rates did rise a few basis points on Thursday, consumer borrowing costs generally recovered on Friday. After lenders...
Mortgage rates were priced at the most aggressive levels of our era on Wednesday following a steady stream of disappointing housing data that sent stock indexes lower. Rates did back up a few basis points yesterday for what seemed like no reason besides rally exhaustion, but we got those losses back...
Mortgage rates rallied to new all-time lows yesterday following a few disappointing housing headlines. While it has been no secret to housing industry professionals, the post-homebuyer tax credit hangover appears to have caught some folks on Wall Street off-guard. Stocks sold off, interest rates rallied...