Tue, Nov 21 2017, 9:12 AM
It's no great mystery that momentum in bond markets (at least in 10yr Treasury yields and MBS) is sharply sideways at the moment--not only in terms ...
Mon, Nov 20 2017, 4:59 PM
Looked at under a microscope, there was a fair amount of intraday volatility this morning. Treasury yields fell overnight, reaching the best levels...
Mon, Nov 20 2017, 2:46 PM
Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie ...
Mon, Nov 20 2017, 9:42 AM
Compared to stocks, bond markets tend to be more affected by changes in market participation surrounding holidays and other sources of illiquidity. L...
Fri, Nov 17 2017, 5:28 PM
With today's modest gains, bond markets did exactly what they need to in order to keep the medium term momentum technicals perfectly flat (that flat...
Fri, Nov 17 2017, 4:53 PM
Mortgage rates barely budged today--not too surprising considering today's bond market levels (which underlie rates) were roughly in line with yesterd...
Fri, Nov 17 2017, 9:35 AM
Take a few steps back from the shorter-term charts (we tend to watch at 2-day chart for most lock/float purposes on MBS Live ) and a theme begins to...
Thu, Nov 16 2017, 5:17 PM
Bond markets are officially looking for inspiration, motivation, or even just something to pass the time. Today's events didn't seem to do the trick ...
Thu, Nov 16 2017, 4:36 PM
Mortgage rates moved higher today, but the changes were minimal for most lenders. Bond markets (which underlie interest rates) have been searching for...
Thu, Nov 16 2017, 8:36 AM
While today will play host to another set of economic reports as well as the House vote on its version of the tax bill, bond markets may continue to l...
Wed, Nov 15 2017, 4:38 PM
As noted in today's MBS Huddle, an absence of any selling pressure in bond markets was a positive result in itself. Selling pressure would have bee...
Wed, Nov 15 2017, 3:26 PM
Mortgage rates fell today, largely in response to the past two days of bond market improvement. In other words, lenders had been keeping their guard u...
Wed, Nov 15 2017, 8:24 AM
Bonds begin the day much-improved from yesterday's levels, effectively showing their hand ahead of today's important economic data. In other words, t...
Tue, Nov 14 2017, 4:47 PM
The past two sessions have been fairly nondescript in the bigger picture. Both have traversed almost exactly the same trading range. Both have ex...
Tue, Nov 14 2017, 4:09 PM
Mortgage rates didn't move much today, despite moderate improvements in bond markets. Typically, stronger bond markets result in lower rates, but if a...
Tue, Nov 14 2017, 9:45 AM
Bond markets are starting the day in fairly similar territory to Friday's latest levels for the 2nd day in a row. As I said yesterday, this is a prec...
Mon, Nov 13 2017, 5:53 PM
For the first time since 2006, market participants didn't get a weekday off for Veterans Day. For all intents and purposes, traders ended up taking t...
Mon, Nov 13 2017, 4:32 PM
Mortgage rates were unchanged to slightly higher today, keeping them in line with their highest levels in more than 2 weeks, depending on the lender. ...
Mon, Nov 13 2017, 9:31 AM
Sorry Kansans. Another false alarm where your home state was in the headline but only as a Wizard of Oz reference. For bond markets, it's an apt all...
Fri, Nov 10 2017, 7:41 PM
Bond markets took a beating today and analysts are still trying to build a case against a slew of potential assailants. Here's what we know.
Euro...
Fri, Nov 10 2017, 3:31 PM
What a difference 2 days make! Freddie Mac's weekly rate survey was out yesterday prompting multiple news outlets to declare "slightly lower rates" on...
Fri, Nov 10 2017, 9:41 AM
After 2 weeks of solid gains, bonds have taken the past 3 days (which includes today's overnight trading) to push back in the other direction. At l...
Thu, Nov 9 2017, 4:49 PM
Bond markets began the day roughly unchanged after initially improving in the overnight session. Domestic hours saw 10yr yields make 2 attempts to br...
Thu, Nov 9 2017, 3:22 PM
Mortgage rates moved higher for the first time this week, ending a 3-day run at the best levels since mid-October. Today's rates are roughly in line w...
Thu, Nov 9 2017, 9:28 AM
Bonds are beginning the day in weaker territory for one of several reasons (MBS Live members can read about them in greater detail HERE). The weaknes...
Wed, Nov 8 2017, 4:17 PM
After 5 days of gains for longer-term bonds (we'll lump 10yr Treasuries and the MBS coupons that matter to rate sheets into that category), today fi...
Wed, Nov 8 2017, 3:23 PM
Mortgage rates held steady again today, keeping them in line with the lowest levels in more than 3 weeks. They've also been uncommonly calm so far thi...
Wed, Nov 8 2017, 8:53 AM
If you've been putting something off that you might be able to chip away at with an extra 5 minutes each morning this week, but simply can't bear the ...
Tue, Nov 7 2017, 5:42 PM
We COULD complain about the absence of volume and volatility in bond markets at the moment. Or we could observe that the calm, relatively sideways ...
Tue, Nov 7 2017, 5:15 PM
Mortgage rates held steadier today after spending 6 of the past 7 days moving lower. They're now at their lowest levels in roughly 3 weeks and fairly ...
Tue, Nov 7 2017, 9:06 AM
Bond traders are like my 10yr old. If you give them plenty of information to consider and if you lay out the right set of challenges, they're much mo...
Mon, Nov 6 2017, 5:08 PM
Mortgage rates continued lower today, despite a blatant lack of underlying motivation in financial markets. By that, I mean that we haven't seen any o...
Mon, Nov 6 2017, 5:05 PM
Both Treasuries and MBS inched their way to the best levels seen in more than 2 weeks today, and it couldn't be much less exciting. Today's trading...
Mon, Nov 6 2017, 9:12 AM
There isn't much by way of relevant data on the economic calendar this week. In fact, there are no reports that would ever be considered "top-tier" ...
Fri, Nov 3 2017, 6:30 PM
This is more of a recap of the week as a whole because if I tried to just cover today, the screen would look too blank! NFP came out weaker than expe...
Fri, Nov 3 2017, 5:55 PM
Mortgage rates were mostly sideways today although a few lenders offered token improvements. When we talk about small improvements in "mortgage rates,...
Fri, Nov 3 2017, 8:29 AM
On average, NFP (the "nonfarm payrolls" component of the Employment Situation report which also refers to the broader report itself) is the biggest ...
Thu, Nov 2 2017, 6:46 PM
Traders' eyes were far more burdened than their fingers (which push the "trade" button) today. There was a ton of info to take in regarding the GOP's...
Thu, Nov 2 2017, 5:52 PM
Mortgage rates improved moderately today following the release of the GOP tax bill and confirmation of Jerome Powell as Trump's Fed Chair nomination. ...
Thu, Nov 2 2017, 9:13 AM
There are only so many ways to say the same thing, but I'll at least update the chart to show that bonds remain inside the same boundaries we've been ...
Wed, Nov 1 2017, 4:45 PM
Mortgage rates were slightly higher today, on average, as bond markets backed away from their stronger levels seen during the last 2 days of October. ...
Wed, Nov 1 2017, 2:09 PM
Information received since the Federal Open Market Committee met in July September indicates that the labor market has continued to strengthen and...
Wed, Nov 1 2017, 9:04 AM
Friday and Monday were (relatively) great days for bond markets. For our purposes, at least, they signified an important push back against the more...
Tue, Oct 31 2017, 4:48 PM
Today was the last day of trading for the month of October. That means money managers had to get a certain amount of bond buying accomplished in orde...
Tue, Oct 31 2017, 3:49 PM
Mortgage rates continued lower today, despite an absence of improvement in underlying bond markets. That's not too surprising considering the average ...
Tue, Oct 31 2017, 9:12 AM
While the broader uptrend in rates remains technically intact, the first trading day of the week pushed back in a friendly direction. In fact, it was...
Mon, Oct 30 2017, 4:16 PM
Bonds began the day in stronger territory, generally riding a wave of momentum from late last week on fresh speculation that Trump would nominate Jero...
Mon, Oct 30 2017, 3:50 PM
Mortgage rates recovered even more of their recent losses today, following reports that lawmakers were considering "phasing in" a 20% corporate tax ra...
Mon, Oct 30 2017, 9:14 AM
Wednesday brings this year's 2nd to last installment of Fed policy announcements, and those announcements have certainly been ramping up in terms of s...
Fri, Oct 27 2017, 6:44 PM
If nothing else, today made it clear that markets care about the next Fed chair... a lot! Despite the presence of GDP data, Consumer Sentiment, and...
