Mortgage rates started to rise yesterday as stock markets rallied from an eight session low. While only a few lenders repriced for the worse, mortgage-backed securities prices were led lower by an increase in benchmark Treasury yields. This set the stage for lenders to increase mortgage rates this morning...
Mortgage rates yesterday ended a rally streak that brought consumer borrowing costs back down toward their best levels of 2010. Almost erasing all the losses experienced before and after the Federal Reserve exited the secondary mortgage market. After the steady recovery run seen in MBS over the last...
Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories Profits Booked Ahead of Bernanke. How Fed Rhetoric Can Affect Mortgage Rates If Ben's tight rope walk is balanced and the short-end of the yield curve rallies as a result, it sure would make it a heck of a lot easier for the... - MBS...
Mortgage rates took a beating yesterday as market participants sold their fixed income investments. This drove Treasury yields higher and MBS prices lower. The benchmark 10 year treasury note rose from a yield of 3.66 to 3.85 and the Fannie Mae 4.5 MBS coupon lost 100 basis points in price. Losses started...
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 didn't make much progress in either direction yesterday despite some bond market friendly economic data and a successful Treasury note auction. Mortgage backed securities traded in a tight range which prevented most lenders from passing along improved mortgage rates. The economic calendar...
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...
Well ahead of the market open investors are busy thanks to comments from Federal Reserve chairman Ben Bernanke over the weekend. Noting widespread criticism that the housing bubble was inflated largely as a result of monetary policy that was too accommodative in the early 2000’s, Bernanke provided...
Federal Reserve Chairman Ben Bernanke said the U.S. economy has “contracted sharply” over the past six months, and he sees “further sizable job losses” and a rising unemployment rate in the coming months. Speaking before the Joint Economic Committee at Congress on Tuesday, the...
The Hope Now Alliance , a coalition of 25 of the largest mortgage servicers in the country, released a progress report on Monday on its operations to date. The Alliance came in to being last fall at the urging of Treasury Secretary Henry Paulson to expedite resolution of the growing number of mortgage...