Fri, May 21 2010, 5:45 PM
If you've been floating for the past few weeks, your rate has greatly improved. Even after rates mortgage rose today, they're still close to record lo...
Thu, May 20 2010, 6:25 PM
The flight to safety continued today as stocks moved lower around the world. This sent benchmark Treasuries to their lowest yields of the year and hel...
Wed, May 19 2010, 5:55 PM
It was another volatile day for both stocks and interest rates. The ups and downs in the market forced lenders to reprice for the worse, and allowed l...
Tue, May 18 2010, 6:48 PM
Mortgage rates looked like they were going to move up today as stocks were indicated to open higher before the lenders published rate sheets. However ...
Mon, May 17 2010, 4:33 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be marginally better today. The par 30 year conventional mortgage rate is in...
Fri, May 14 2010, 6:48 PM
For whatever reason, which fundamental and technical can be offered, stocks sold off today. The S&P was down 2.01% to 1135.80 and the Dow fell 1.50% t...
Thu, May 13 2010, 4:58 PM
With rates at the best levels of the year, I continue to advise locking all loans closing within 30 days and also encourage you to consider longer ter...
Wed, May 12 2010, 5:26 PM
The most mortgage rate influential event of the day was supposed to be the Treasury's auction of $24 billion of 10 year notes. However the auction res...
Tue, May 11 2010, 5:42 PM
Mortgage rates continue to take their directional guidance from headline news and stocks. Today stocks opened lower which helped Treasuries and MBS ra...
Mon, May 10 2010, 4:05 PM
Over the weekend the European Union, IMF, and several Central Banks including the U.S. Federal Reserve announced a coordinated effort to put an offici...
Fri, May 7 2010, 6:44 PM
Normally a better than expected economic release, especially one as influential as the Employment Situation Report, gives stock traders a reason to bu...
Thu, May 6 2010, 5:58 PM
The biggest single day point drop in the history of the Dow Jones Industrial Average was the primary source of motivation in the interest rate market ...
Wed, May 5 2010, 5:33 PM
We have seen several days in a row of improving lender pricing thanks to the sovereign debt concerns with Greece and other European countries. At som...
Tue, May 4 2010, 6:05 PM
The market's nervous sentiment surrounding Greece carried over into today's trading session which has once again led to a flight to safety into the bo...
Mon, May 3 2010, 4:16 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be similar to Friday’s repriced sheets. The par 30 year conventional rate m...
Thu, Apr 29 2010, 6:23 PM
Lender loan pricing is ever so slightly improved today. An afternoon MBS rally allowed a few lenders to reprice for the better as well, but overall mo...
Wed, Apr 28 2010, 5:06 PM
Mortgage rates are improved from yesterday morning but higher than they were after lenders repriced for the better yesterday afternoon. It appears the...
Tue, Apr 27 2010, 5:23 PM
S&P, the ratings agency, downgraded Greece's government debt to junk status earlier in the day. This was an unexpected event and resulted in stocks se...
Mon, Apr 26 2010, 4:27 PM
Mortgage rates bounced back and forth in a relatively tight range before going out at their highest levels of the week last Friday. Although prices of...
Fri, Apr 23 2010, 6:31 PM
Mortgage rates bounced around a tight range for most of the week. There wasn't much in the way of news to motivate movement in the first three days of...
Thu, Apr 22 2010, 5:57 PM
The Department of Treasury announced the terms of next week’s debt offering. They will sell $44 billion 2 year notes, $42 billion 5 year notes, $32...
Wed, Apr 21 2010, 5:30 PM
Mortgage rates did improve today, but the Treasury Department will announce the terms of next week's government debt auctions at 11am tomorrow. The Tr...
Tue, Apr 20 2010, 4:02 PM
Despite mortgage rates bumping a few basis points higher, I continue to favor locking. Stocks seem like an unstoppable force moving higher plus we hav...
Mon, Apr 19 2010, 3:54 PM
It was a very slow day on Wall Street as most market participants are still trying to figure out if the Goldman Sachs news is going to spread around t...
Fri, Apr 16 2010, 5:13 PM
We had a choppy start to the day. Mortgage rates opened up marginally better vs, yesterday but mostly the same. However, in the lunch hour, breaking n...
Thu, Apr 15 2010, 4:29 PM
Benchmark Treasury yields rose and mortgage-backed security prices fell after the market received mostly positive economic data on the manufacturing s...
Wed, Apr 14 2010, 4:51 PM
Mortgage rates yesterday ended a rally streak that brought consumer borrowing costs back down toward their best levels of 2010. Almost erasing all the...
Tue, Apr 13 2010, 7:36 PM
If you have been floating you should have seen your interest rate drop by 0.25% to 0.375% over the past week. We always say "Float at the Price Lows a...
Mon, Apr 12 2010, 2:41 PM
When the day began, lender rate sheets were very similar where they were set on Friday, however both benchmark Treasury yields and mortgage-backed sec...
Fri, Apr 9 2010, 5:17 PM
Mortgage rates spent this week slowly recovering from a healthy losing streak. If you were floating two weeks ago, when mortgage rates started this lo...
Thu, Apr 8 2010, 4:46 PM
I continue to favor floating one day at a time. Lenders are being very slow to pass along the price gains we have enjoyed over the last couple days. ...
Wed, Apr 7 2010, 5:40 PM
Mortgage rates are slowly rallying away from the highs of 2010 after a two successful Treasury auctions. I continue to favor floating my loans, but wi...
Tue, Apr 6 2010, 5:19 PM
Treasury yields did move lower today and MBS prices rose which has allowed lenders to offer better pricing. With that said, I continue to favor floati...
Mon, Apr 5 2010, 4:33 PM
The week ahead is fairly light on economic data with the highest impacting events coming starting on Tuesday with the release of the minutes of the mo...
Fri, Apr 2 2010, 5:42 PM
Mortgage rates had a terrible week! (like pulling a band-aid). The par 30 year fixed mortgage rate rose anywhere from .125 to .375% over the course of...
Thu, Apr 1 2010, 4:30 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be considerably worse than yesterday. The par 30 year conventional rate mor...
Wed, Mar 31 2010, 4:14 PM
Reports from fellow mortgage professionals did indicate lender rate sheets to be improved this morning, however several lenders repriced for the worse...
Tue, Mar 30 2010, 6:27 PM
I favor locking over floating at this point. There are just too many unknowns to deal with in the near term. The Fed stops buying MBS tomorrow, more ...
Mon, Mar 29 2010, 11:20 AM
Reports from fellow mortgage professionals indicate lender rate sheets to be improved from Friday. If you can lock at 4.75%, there is no question, yo...
Fri, Mar 26 2010, 4:20 PM
If you can lock in today at 4.875% with acceptable fees, you should strongly consider locking. If your lender is offering 5.00% or higher, I feel it ...
Thu, Mar 25 2010, 7:04 PM
Yesterday was either the beginning of rates moving higher or just a temporary correction. If your lender is still offering the same rate they were off...
Wed, Mar 24 2010, 5:53 PM
Benchmark interest rates started rising early in the trading session, before MBS trading officially opened at 8am. Positive Durable Goods Orders data ...
Tue, Mar 23 2010, 4:55 PM
The par 30 year conventional rate mortgage has once again declined to the 4.75% to 5.00% range for well qualified consumers .Over the past two days be...
Mon, Mar 22 2010, 5:01 PM
It was a very slow day in the mortgage market. Mortgage-backed security prices opened lower which forced many lenders to publish mortgage rates higher...
Fri, Mar 19 2010, 3:24 PM
After yesterday’s busy economic data calendar, the schedule was empty today. Reports from fellow mortgage professionals indicate lender rate sheets to...
Thu, Mar 18 2010, 4:40 PM
After the release of the Treasury debt statement, benchmark yields rose and MBS prices fell. This forced many lenders to reprice for the worse. After...
Wed, Mar 17 2010, 3:24 PM
We are seeing very aggressive rate sheets from lenders today. My advice would be to lock any loan closing and funding in the next 30 days. Same excep...
Tue, Mar 16 2010, 5:05 PM
The Federal Open Market Committee (FOMC) met for a one day meeting today. Usually they meet for two. At 2:15, the FOMC released their statement on mon...
Mon, Mar 15 2010, 6:24 PM
After a slow week of economic data, the calendar picks up in the days ahead.If you followed my advice on floating over the weekend, you picked up some...
Fri, Mar 12 2010, 4:20 PM
Following the release of the Retail Sales report, benchmark yields rose and MBS prices plummeted. Many lenders released rate sheets at the lows of the...
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