Fri, Jan 13 2017, 4:54 PM
Granted, we might wake up next Tuesday (markets are closed Monday) to find that bonds are quickly breaking out of the recent range. But as for this...
Fri, Jan 13 2017, 3:44 PM
Mortgage rates moved higher today , even after many lenders offered mid-day improvements in the afternoon. Bond markets (which underlie rate movement)...
Thu, Jan 12 2017, 8:28 AM
As the new year continues, a common new year's theme is in full effect: the stock/bond correlation. Stocks and bonds frequently move together over ...
Thu, Jan 12 2017, 6:27 PM
In glancing at various trader/analyst/strategist emails, I see perhaps a greater diversity of opinions about today than of any other recent trading da...
Thu, Jan 12 2017, 5:33 PM
Mortgage rates were mixed today , depending on the lender. Discrepancies between lenders have been higher than normal over the last 24 hours for sever...
Wed, Jan 11 2017, 8:45 AM
To a significantly greater degree than yesterday's 3yr Treasury auction, today's 10yr auction will have the power to confirm a trend we were beginni...
Wed, Jan 11 2017, 5:09 PM
Today was one of the more complex trading days we've had recently. Three things were certainly in play and 2 of them were interdependent.
1. Stock...
Wed, Jan 11 2017, 3:57 PM
Mortgage rates fell today , in many cases to levels not seen in well over a month . The average lender was just a hair better than last Thursday, mean...
Tue, Jan 10 2017, 8:47 AM
One day down and 2 more to go without meaningful economic data. That didn't stop bonds from having a good day yesterday, but the gains were largely d...
Tue, Jan 10 2017, 5:27 PM
Today was about as tame as they come for bond markets, post-election. 10yr yields traded a high of 2.394 and a low of 2.361. That's a very narrow d...
Tue, Jan 10 2017, 4:32 PM
Mortgage rates were slightly higher today, but remain in much better shape overall when compared to the last month of 2016. In many ways, the new year...
Mon, Jan 9 2017, 8:38 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Mon, Jan 9 2017, 6:29 PM
It was almost a wholly uneventful day for bond markets. If not for the fact that trading levels improved day-over-day, there wouldn't be much to talk...
Mon, Jan 9 2017, 6:28 PM
Mortgage rates recovered much of Friday's losses today, moving back near the lowest levels in more than a month. To be fair, that's a claim they could...
Fri, Jan 6 2017, 8:18 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Fri, Jan 6 2017, 5:14 PM
NFP is the biggest piece of economic data on any given month--so big, in fact, that financial markets treat it as a focal point for trading activity ...
Fri, Jan 6 2017, 4:15 PM
Mortgage rates moved moderately higher today after the Employment Situation Report (aka "the jobs report" or simply "NFP," after its trademark compone...
Thu, Jan 5 2017, 8:35 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Thu, Jan 5 2017, 5:08 PM
By quite a wide margin, today was the best day for bond markets since the election. 10yr yields dropped nearly 10bps, making it all the way to the ...
Thu, Jan 5 2017, 4:08 PM
It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. Over time and in the bigger picture, Freddie's survey i...
Wed, Jan 4 2017, 8:52 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Wed, Jan 4 2017, 5:03 PM
Bonds focused on technicals, range-trading, corporate supply, and the FOMC Minutes today. It all added up to almost no net change across the board, s...
Wed, Jan 4 2017, 4:13 PM
Mortgage rates were slightly higher today, on average, but some lenders were unchanged from yesterday. Others were quoting higher rates in the morning...
Tue, Jan 3 2017, 8:42 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Tue, Jan 3 2017, 5:37 PM
Bonds began the new year on the defensive thanks to a deluge of corporate bond issuance as well as stronger ISM Manufacturing data. By 10:15am, 10y...
Tue, Jan 3 2017, 4:52 PM
Mortgage rates improved slightly to begin 2017, bringing them to the lowest levels in nearly a month, on average. December 8th was the last time rates...
Fri, Dec 30 2016, 12:27 PM
Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8...
Fri, Dec 30 2016, 8:57 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Thu, Dec 29 2016, 8:30 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Thu, Dec 29 2016, 4:33 PM
Bonds made solid gains again today, both before and after another strong Treasury auction. Fannie 3.5s picked up more than a quarter of a point and 1...
Thu, Dec 29 2016, 3:57 PM
Mortgage rates moved lower today , somewhat significantly, depending on the lender. In many cases, quotes are an eighth of a point lower compared to T...
Wed, Dec 28 2016, 8:40 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Wed, Dec 28 2016, 5:11 PM
Today was all about the afternoon's 5yr Treasury note auction, which garnered the best demand in more than 2 years and the highest percentage of indir...
Wed, Dec 28 2016, 3:50 PM
Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly s...
Tue, Dec 27 2016, 8:43 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Tue, Dec 27 2016, 3:39 PM
As far as full business days go (those that aren't "early close"), today was by far and away the slowest day of the year for bond markets. In fact,...
Tue, Dec 27 2016, 3:07 PM
Mortgage rates moved higher today, bringing them back into the range that's dominated the second half of the month. That means the average lender is f...
Fri, Dec 23 2016, 8:48 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Fri, Dec 23 2016, 2:02 PM
Mortgage rates made their biggest move of the week today, although the competition wasn't very stiff, considering yesterday's microscopic improvement ...
Fri, Dec 23 2016, 1:40 PM
As expected, bonds did nothing today , apart from a possibly detectable response to the inflation-expectation components of the Consumer Sentiment da...
Thu, Dec 22 2016, 8:24 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Thu, Dec 22 2016, 3:45 PM
This is coming out a bit earlier than normal, and I promise to revise and/or put out another recap if by some miraculous turn of events, bond markets ...
Thu, Dec 22 2016, 3:24 PM
Mortgage rates did nothing today. They did less than nothing . This week is already easily on track to be the calmest since the election. And if tomor...
Wed, Dec 21 2016, 8:57 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Wed, Dec 21 2016, 6:17 PM
I'll make this quick, on the chance you were enticed to read more after seeing the headline. Bond markets nearly broke 2016's record for the lowest ...
Wed, Dec 21 2016, 5:18 PM
Mortgage rates continued the normal late-December trend of minimal movement today, but the average lender managed a microscopic improvement. This wasn...
Tue, Dec 20 2016, 8:37 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
Tue, Dec 20 2016, 5:28 PM
The holiday theme continued today, with bonds trading inside the range that's been intact since last week's Fed festivities.
As I'll likely ment...
Tue, Dec 20 2016, 4:01 PM
Mortgage rates are officially checked out for the holidays . Today marked the third straight day with very little change from the previous day's rates...
Mon, Dec 19 2016, 8:32 AM
NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my ...
