Mortgage rates dodged a bullet yesterday. As you know mortgage rates have basically mirrored the movements of the stock markets recently. As stocks rallied, loan pricing worsened and mortgage rates rose. As stocks sold, loan pricing improved and mortgage rates fell. This relationship has dictated the...
Yesterday I wrote that mortgage rates were under pressure because stocks were rallying. Yes stocks were indeed on a winning streak, but the bond market hasn't done all that bad...all things considered. Don't get me wrong, mortgage rates are definitely higher than they were last week, but by pricing...
Mortgage rates moved mostly sideways near newly hit 2010 lows yesterday but did come under a small amount of upward pressure late in the day as the stock market rallied into the close. As the prices of mortgage backed securities moved lower, many lenders repriced for the worse, but the increases in consumer...
Mortgage rates improved a few basis points yesterday, but only enough to recover loan pricing losses that occurred the previous day. A lack of meaningful economics data combined with a generally slow trading environment have kept mortgage rates in a tight range this week. Although benchmark Treasury...
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...
Mortgage rates rallied lower yesterday after the Federal Reserve reiterated they intend to keep the Fed Funds rate at at exceptionally low levels for an “extended period”. The Fed also held steady in their belief that inflation is not posing a threat to economic stability. In regard to the...
Mortgage rates moved higher early Friday morning following a better than expected read on Retail Sales. However, as the day progressed, benchmark Treasury yields did move lower, helping mortgage-backed securities prices recover early session losses. Most lenders did not reprice for the better after these...
Mortgage rates moved higher yesterday morning...and then they moved even higher yesterday afternoon! The day began with mortgage-backed securities prices moving lower, which forced lenders to increase consumer borrowing costs before many rate watchers had a chance to get to a computer. Later in the day...
After making noticeable improvements toward the end of last week, mortgage rates failed to extend positive progress yesterday. After a weak open, mortgage backed securities prices traded in a narrow range for most of the day. Despite MBS prices moving lower at the open, lenders were still able to offer...
Mortgage rates held stable for most of the day yesterday as an empty economic calendar left market participants to quietly ponder the Fed's upcoming monetary policy communication with the marketplace. In a VERY slow trading environment, both benchmark Treasury yields and prices of mortgage-backed...