Fri, Nov 4 2016, 4:28 PM
Mortgage Rates were slightly lower today--a counterintuitive move considering the big jobs report was slightly stronger that expected. To be clear, th...
Thu, Nov 3 2016, 9:53 AM
There can be no doubt that bond markets are responding to recent political headlines. But there's even less of a doubt that stock markets are far mor...
Thu, Nov 3 2016, 4:57 PM
Thank the overnight trading session for an anticlimactic day. It set a healthy range of highs and lows that daytime trading never managed to break....
Thu, Nov 3 2016, 4:03 PM
Mortgage Rates were slightly higher today, keeping them in line with the weakest levels in just over 5 months. "Weakness" is relative, however. Apart ...
Wed, Nov 2 2016, 9:26 AM
Let's not get too excited, but bonds have begun an attempt to bounce at the higher side of their multi-month trend channel (the "uptrend" leading to...
Wed, Nov 2 2016, 5:25 PM
Taken in and of itself, today's Fed statement was "net-hawkish." That means, relative to the last announcement, the verbiage took small but noticea...
Wed, Nov 2 2016, 4:37 PM
Mortgage Rates eased just a bit more today, marking the 4th day of relative stability after a sharp rise last Thursday. Although there was a Fed annou...
Wed, Nov 2 2016, 2:01 PM
(additions underlined, deletions struck-through)
For immediate release
Information received since the Federal Open Market Committee met in July...
Tue, Nov 1 2016, 9:54 AM
The Summer months sure were great for bond markets, weren't they? Massive rally in June, all-time low yields in July, and reasonable stability just o...
Tue, Nov 1 2016, 5:40 PM
The political theater is ramping up quickly, with unexpected afternoon twitter headlines stealing the show from longstanding market movers like ISM ...
Tue, Nov 1 2016, 4:44 PM
Mortgage Rates continue to operate near 5-month highs , after putting in a mixed performance today. The morning was especially bad as stronger global ...
Mon, Oct 31 2016, 10:15 AM
It's no mystery that the prevailing trend in bond markets has been negative for several months. At first , this was no big deal, as Treasury yields ...
Mon, Oct 31 2016, 5:09 PM
The last trading day of any given month is more volatile and more actively traded than the average trading day. That wasn't the case today, which i...
Mon, Oct 31 2016, 3:58 PM
Mortgage Rates moved sideways to slightly lower for the 2nd day in a row, after hitting the highest levels in 5 months on Thursday. While the positive...
Fri, Oct 28 2016, 10:26 AM
It's going to be a while until we can truly sort out whether the current bout of bond market weakness is the same sort of correction seen in early 201...
Fri, Oct 28 2016, 4:48 PM
After 2 days of heavy selling in global bond markets, today was a relative paradise of inactivity. Volume remained rather high by historical standard...
Fri, Oct 28 2016, 3:40 PM
Mortgage Rates recovered slightly today, after hitting the highest levels in nearly 5 months yesterday. Unfortunately, that leaves today's rates with ...
Thu, Oct 27 2016, 9:52 AM
Paul McCartney will only be signing about "bonds on the run" if he's in the market for a mortgage, because bonds are running in the wrong direction. ...
Thu, Oct 27 2016, 6:50 PM
Traders who reported seeing buying signals as 10yr yields approached 1.80 earlier this week would surely like to borrow a time machine . In retrospe...
Thu, Oct 27 2016, 2:23 PM
Mortgage Rates are much higher today, regardless of anything else you may have seen. Why am I alluding to other things you may have seen? Because it's...
Wed, Oct 26 2016, 9:37 AM
Last week provided some hope for bond markets due to a relatively strong move off the recent highs. 10yr yields recovered from the previous week's 1....
Wed, Oct 26 2016, 5:41 PM
Bonds were stronger during Asian market hours this morning, but things changed quickly as European trading got underway. Relative to Treasuries, Euro...
Wed, Oct 26 2016, 4:37 PM
Mortgage Rates didn't move much today, with most lenders just slightly higher than yesterday. This keeps us right in line with the highest levels in m...
Tue, Oct 25 2016, 9:37 AM
At the risk of repeating a common refrain, rates have been rising gradually since July and in a more volatile way since early September. I've chalked...
Tue, Oct 25 2016, 4:58 PM
On the surface, today was a boring day for bond markets. 10yr yields ended less than a bp lower than yesterday's close and Fannie 3.0 MBS were comple...
Tue, Oct 25 2016, 4:05 PM
Mortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday's latest offerings. De...
Mon, Oct 24 2016, 9:33 AM
Rates and yields have been trending steadily higher since hitting all-time lows in early July. Those lows were most immediately attributable to the B...
Mon, Oct 24 2016, 5:34 PM
Bond markets ended the day in moderately weaker territory today, despite starting out in the Green. What happened?
Today was refreshingly straight...
Mon, Oct 24 2016, 4:43 PM
Mortgage Rates bounced slightly higher for the first time in more than a week today, thus remaining in limbo near the highest levels in more than 4 mo...
Fri, Oct 21 2016, 10:04 AM
As can be seen in this morning's chart (and remembered in the hearts and minds of loan originators who closely follow market movements), October has b...
Fri, Oct 21 2016, 4:38 PM
Bonds began the day roughly unchanged and rallied in the morning hours along with European bond markets. Most of the volume was in before 9:45 and th...
Fri, Oct 21 2016, 3:23 PM
Mortgage Rates held steady today, continuing a much-needed break from the move higher that dominated the first 2 weeks of October. While we've only se...
Thu, Oct 20 2016, 9:59 AM
The Fed is the ECB President Mario Draghi's childhood hero (with 'childhood' being a metaphorical term for the infancy of the ECB's response to the 20...
Thu, Oct 20 2016, 4:44 PM
Today was pretty anticlimactic . Most of my analysis is already available in the Day Ahead. If you're not the link-clicking type, it basically says...
Thu, Oct 20 2016, 3:59 PM
Mortgage Rates were lower again today, after the European Central Bank (ECB) avoided sending any scary signals about tapering its asset purchases. Muc...
Wed, Oct 19 2016, 9:45 AM
After worldwide rates hit all-time lows on the heels of Brexit, they consolidated in a narrow, sideways pattern until someone came up with the next pl...
Wed, Oct 19 2016, 4:56 PM
Bond markets spent yet another day consolidating inside their recent range. In terms of 10yr yields that means rates have fallen from last Friday's h...
Wed, Oct 19 2016, 3:01 PM
Mortgage Rates were steady to slightly lower today, which keeps them fairly close to 4-month highs. 3.625% continues to be the most prevalently-quoted...
Tue, Oct 18 2016, 9:47 AM
As we approach Thursday's European Central Bank (ECB) announcement and press conference, we are seeing a clearer display of underlying market motivat...
Tue, Oct 18 2016, 5:19 PM
If you've been following along with updates on MBS Live , today's recap will be old hat. Long story short, bonds have been selling off in October an...
Tue, Oct 18 2016, 4:23 PM
Mortgage Rates moved slightly lower today, depending on the lender. During the morning hours, rates were roughly unchanged and thus remained in line w...
Mon, Oct 17 2016, 9:43 AM
The European Central Bank (ECB) has been one of the driving forces behind ultra-low rates around the world for several years, thanks to an aggressive...
Mon, Oct 17 2016, 5:33 PM
It could be a volatile week for bond markets, and that volatility could kick the ongoing negative trend into higher gear. It would have taken quite ...
Mon, Oct 17 2016, 4:36 PM
Mortgage Rates remained near 4-month highs today, despite moderate improvement in underlying bond markets. The problem for most lenders was the timing...
Fri, Oct 14 2016, 10:01 AM
Never forget, even in a perpetual long-term downtrend--even in a downtrend with more room to run in the bigger picture--there will be corrections towa...
Fri, Oct 14 2016, 5:52 PM
Ahhh, the good old mystery move! There are so many potential contributors to this afternoon's sharp sell-off in bonds that it scarcely makes sense to...
Fri, Oct 14 2016, 4:46 PM
Mortgage Rates remained under pressure today, moving right back to the highest levels in more than 4 months after only one day of recovery. This might...
Thu, Oct 13 2016, 9:12 AM
Even though yields have made new intraday highs on 9 out of the last 9 days, we may have seen some early clues about the selling trend leveling-off....
Thu, Oct 13 2016, 5:04 PM
Corrections and consolidations are a natural part of market movements. It's uncommon for losing streaks to last more than 8 straight days without rep...
Thu, Oct 13 2016, 4:13 PM
Mortgage Rates managed to make modest gains today, moving just slightly lower for the average lender. That's a welcome development after 10 straight d...
