Tue, Sep 6 2016, 4:06 PM
Mortgage Rates were in a bit of a pickle on Friday afternoon. The big jobs report had just come out slightly weaker than expected, yet rates didn't im...
Fri, Sep 2 2016, 8:30 AM
It goes against the grain of conventional summertime market wisdom, to some extent, to have so much focus on any piece of economic data as "making or ...
Fri, Sep 2 2016, 4:56 PM
Happy Labor Day weekend, everyone. Gotta close out some longs, but may jump back in on Tuesday.
Cheers, Bond Buyers
That's the short ve...
Fri, Sep 2 2016, 4:08 PM
Mortgage Rates were steady to slightly higher today, depending on the lender--a relative victory considering the potential volatility associated with ...
Thu, Sep 1 2016, 8:53 AM
NFP weeks are always a bit more robust in terms of other top shelf economic data. This typically includes one or both of the ISM reports, Chicago PMI...
Thu, Sep 1 2016, 4:16 PM
Bonds began the day in weaker territory and were approaching the highest yields of the past 2 months by mid-morning. Part of the negativity could hav...
Thu, Sep 1 2016, 2:59 PM
Mortgage Rates were slightly higher today, bringing them near their worst levels in several weeks. The caveats are twofold. First of all, the worst le...
Wed, Aug 31 2016, 9:35 AM
Who remembers asymptotes from high school? Those are the curved lines that gradually approach a certain level--getting closer and closer, but never r...
Wed, Aug 31 2016, 5:43 PM
Bonds responded generally favorably to the available economic data, which included on-target ADP jobs numbers (177 vs 175k forecast) and weaker Chicag...
Wed, Aug 31 2016, 5:13 PM
Mortgage Rates were unchanged today, ending a month without much movement in general. In fact, the most prevalently quoted conventional 30yr fixed rat...
Tue, Aug 30 2016, 9:12 AM
With bond markets having clearly consolidated heading into last week's Jackson Hole speeches and with Jackson hole ultimately NOT resulting in a a c...
Tue, Aug 30 2016, 4:24 PM
Today was very different than the past two days. Friday was one of the biggest days of selling seen during the July/August time frame and yesterday...
Tue, Aug 30 2016, 3:06 PM
Mortgage Rates did one of two things today, depending on the lender in question. Some lenders simply held in line with yesterday's latest levels (in o...
Mon, Aug 29 2016, 9:33 AM
Friday was a volatile day for markets as investors were anxiously awaiting comments from Fed Chair Yellen that might speak to the likelihood of a Fed ...
Mon, Aug 29 2016, 4:54 PM
It's one thing to HOPE that any particular selling spree in bond markets is merely the product of a few temporary events that can be easily explained ...
Mon, Aug 29 2016, 3:59 PM
Mortgage Rates were briefly at their highest levels in several weeks on Friday afternoon. This followed comments from the Fed's Jackson Hole symposium...
Fri, Aug 26 2016, 10:54 AM
Mortgage Rates were unchanged to slightly lower this morning following the much-anticipated Jackson Hole speech from Fed Chair Janet Yellen. Markets w...
Fri, Aug 26 2016, 4:31 AM
All too many lookers on--myself included--have made far too much of today's Jackson Hole speech from Fed Chair Yellen (11am ET, we're led to believe)....
Fri, Aug 26 2016, 3:01 PM
All eyes were on Yellen's 10am speech from Jackson Hole, then all eyes were closed as traders fell asleep from boredom. Yellen said nothing we didn...
Thu, Aug 25 2016, 8:34 AM
Most likely, today will just be another day in the range-bound grind for bond markets leading up to tomorrow's Jackson Hole speech from Yellen. Altho...
Thu, Aug 25 2016, 4:14 PM
As we discussed this morning, sometimes markets will take a "lead-off" ahead of a big potential market mover if there's an underlying predisposition t...
Thu, Aug 25 2016, 3:22 PM
Mortgage Rates were unchanged , yet again, keeping alive an uncanny streak of lifelessness. That COULD change tomorrow after Fed Chair Yellen's speech...
Wed, Aug 24 2016, 9:27 AM
Welcome to another episode of Extreme Boredom: Bond Market Edition.
In today's episode, bonds are pressing even further into record territory, only...
Wed, Aug 24 2016, 5:06 PM
Whether or not Yellen actually says something that moves markets on Friday is unimportant. Maybe she will. Probably she won't. Either way , we jus...
Wed, Aug 24 2016, 4:21 PM
Mortgage Rates , like most other interest rates, have seen record-setting levels of inactivity over the past 90 days. The Brexit vote in late June pus...
Tue, Aug 23 2016, 9:32 AM
To say that bonds have been range-bound recently would be an understatement. I'm running out of ways to say it, and perhaps you're running out of the...
Tue, Aug 23 2016, 4:02 PM
We might have expected a bigger movement in the wake of the colossal improvement in New Home Sales (654k vs 582k previously, 580k forecast), but bon...
Tue, Aug 23 2016, 2:07 PM
Mortgage Rates were sharply sideways today, with almost every lender offering the exact same terms as yesterday. This is part of an ongoing phenomenon...
Mon, Aug 22 2016, 9:19 AM
By the end of this week--and quite possibly for the next several weeks--you'll be tired of hearing about Jackson Hole . I know I'm already tired of ...
Mon, Aug 22 2016, 6:00 PM
I apologize for tricking you with the title. The "shocking" part was unabashed sarcasm . It's not that anyone here is clairvoyant. Certainly, we n...
Mon, Aug 22 2016, 4:14 PM
Mortgage Rates were almost imperceptibly lower today, although underlying bond markets improved more noticeably. Why would rates not be more improved ...
Fri, Aug 19 2016, 9:03 AM
Yesterday's recap signed off with the following thought: "no data on tap for tomorrow [in reference to today], the trading range should be as good a g...
Fri, Aug 19 2016, 4:10 PM
As the attached video suggests, "red happens." It really does! After all, if you were the puppet-master behind rate movement, and if you'd decided...
Fri, Aug 19 2016, 3:09 PM
Mortgage Rates moved modestly higher today , but remain in an excruciatingly narrow range in the bigger picture. Actually, there's nothing too excruci...
Thu, Aug 18 2016, 9:20 AM
Picture it: a smoky lounge, the vaguely distinctive clinking of ice cubes in cocktail glasses, a mellow jazz band, and a tantalizing performance of "...
Thu, Aug 18 2016, 5:37 PM
Today was one of the many summer trading sessions that you wouldn't miss if it never happened . Bond markets ended up making modest gains after the ...
Thu, Aug 18 2016, 3:27 PM
Mortgage Rates continued avoiding drama today, moving moderately lower as bond markets held on to gains that followed yesterday's Fed Minutes. As we d...
Wed, Aug 17 2016, 9:37 AM
With no significant data set for this morning, markets' attention will be fully turned to this afternoon's FOMC Minutes release. The Minutes provid...
Wed, Aug 17 2016, 3:47 PM
Surprise surprise! The range is still the range for bond markets and mortgage rates. Yesterday's tough talk from Fed Presidents Dudley and Lockhar...
Wed, Aug 17 2016, 3:11 PM
Mortgage Rates were sideways to slightly higher today, although some lenders offered modest improvements after the release of the Minutes from the mos...
Tue, Aug 16 2016, 8:30 AM
We've recently seen a refreshing reconnection between bond markets and economic data. I say "refreshing" because the classic connection between str...
Tue, Aug 16 2016, 3:48 PM
There's something that's just too fun about entertaining conspiracy theories --especially when it comes to the Fed's rhetorical platform. Take for i...
Tue, Aug 16 2016, 2:59 PM
Mortgage Rates were sideways to slightly higher today, depending on the lender. Several lenders issued mid-day reprices as bond yields moved higher th...
Mon, Aug 15 2016, 9:27 AM
If you're on the very youngest fringe of the mortgage market participant age range, you might know what a "meme" is. And if you're up to speed on anc...
Mon, Aug 15 2016, 3:50 PM
Sure, we've 'endured' the rigors of a day-to-day ups and downs in bond markets over the past month, but if we step back from the charts by more than a...
Mon, Aug 15 2016, 3:01 PM
In addition to writing about mortgage rates , I also follow and analyze the underlying bond markets. Early on in that endeavor, one of my favorite phr...
Fri, Aug 12 2016, 9:08 AM
By Wednesday of this week, we were assessing the possibility of a positive break of the range in bonds. Yesterday, those hopes were dashed by a fai...
Fri, Aug 12 2016, 4:23 PM
Today was another nice, simple day for bond markets. Yields entered the domestic session slightly lower, thanks to weak data overseas. Even then, ...
Fri, Aug 12 2016, 3:37 PM
Just a day after bouncing firmly higher from the lowest levels in a month, mortgage rates are right back down to the bottom of the recent range. For s...
Thu, Aug 11 2016, 9:41 AM
In July 2012 and July 2016, 10yr yields visit to all time lows was cordoned-off fairly neatly by yields in the 1.50-1.52 neighborhood. We've been t...
