Mortgage News
Feb 28, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.The second GDP reading for Q4 2013 showed a disappointing 2.4%. The initial reading had been 3.2% and well beneath Q3's 4.1%. The drop is being attributed to weak consumer spending and commercial export data, an indicator of still turbulent economic recover...
Feb 27, 2014
What will mortgage interest rates do tomorrow? Rates should go up, according to mortgage professionals voting on our daily poll.This afternoon (1:00 PM ET) marks the last Treasury auction for this week with $29 billion seven-year notes. This morning Yellen met with the Senate Banking Committee.MBS gains were going steady through Yellen's testimony until a favorable Durable Goods report...
Feb 26, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.Today the Treasury will be auctioning $35 billion five-year notes. Treasury note auctions will continue tomorrow with $29 billion seven-year notes. For the rest of the week, watch out for Yellen's meeting with the Senate Banking Committee Thursday, and Cons...
Feb 25, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.Today the Treasury will be auctioning $32 billion two-year notes, but more compelling - and mixed - data comes from the housing sector. The Case Shiller 20 city Index rose by 13.4% from the same time last year, just below the expected 13.6%. From November to De...
Feb 24, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.With little economic data out today, mortgage bonds are relatively static. But this week, expect bond market movement influenced by treasury note auctions Tuesday, Wednesday and Thursday for $32 billion two-year, $35 billion five-year and $29 billion seven-year...
Feb 24, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.Mortgage bonds are back to unchanged levels, but interest rates are up nearly across the board. Most notable is the FHA 30 year fixed, which jumped back up to 4.25% from 4%. Yesterday's Consumer Price Index report showed a 0.1% gain in January,...
Feb 21, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.Today's Consumer Price Index report showed a 0.1% gain in January, below the projected 0.2%. The slow rate of inflation may feel too slow for the Fed, who have been trying to kickstart inflation via quantitative easing.Weekly Initial Jobless Claims w...
Feb 19, 2014
What will mortgage interest rates do tomorrow? Rates should go up, according to mortgage professionals voting on our daily poll.Housing starts are down 16% from December to January - that's 880K units annualized and 80K less than the 963K expected. Building permits fell 5% to 937K, lower than the 980K expected. Lower numbers were attributed to the harsh weather last month, as were many othe...
Feb 18, 2014
What will mortgage interest rates do tomorrow? Rates should go up, according to mortgage professionals voting on our daily poll.This morning, the New York Federal Reserve reported that the NY Manufacturing Index fell to 4.48 in February versus the 7.5 expected and down from the 12.5 in January. The new orders index fell to zero, but employment was unchanged save for longer work weeks.The...
Feb 14, 2014
What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.Foreclosure reports out today from RealtyTrac show an 8% increase from December to January. However, January 2014 saw an 18% decrease in foreclosures from January 2013. This marks the 40th consecutive year-over-year decrease in foreclosure, albeit the smallest...
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