Mortgage News
May 23, 2017
Yields have risen modestly over the last 3 trading sessions. The 2.23%-2.25% range over the past few days looks good if we take a few steps back from the narrow time frame and think about the broader recent context.Are the 2.23-2.25% yields indicative of more strenght to come or will they bounce?...
May 18, 2017
When bond markets have a day like they had yesterday, it's often followed by a correction. If there is a true rally, there would be a temporary correction, lasting one day and wouldn't erase more than half of the previous day's gains. In the case of a head-fake rally, the correction would erase a majority, if not all of it.It is impossible to tell which one of the two we are looking...
May 15, 2017
Last Friday marked a potential change from the past higher rate trend that we've seen since mid-Spring. We see that 10 year yields are now below the notable trendline. We see the same happening with the middle Bollinger Band. However, we have to remember that the overnight activity in the European market did little to improve the previous Friday's yields. All eyes are eagerly awating to see if there is a break in these lows.Normally we...
May 12, 2017
This morning's economic data has potentially initiated the bounce that we hae been waiting for. We would need to see another day or two of similar behavior to confirm the bounce, as with any single day rally momentum in bond markets. Things may change by the end of the day but we are off to a good start.Today's potential bounce is just another potential shift in the series of normal ebbs and f...
May 10, 2017
Since mid-April, rates have been treding higher, every da of gains has the potential to become the turning point in the trend. There is more improvement needed to conclude the negative trend is over.Ideally, we'd need to see another day of strength tomorrow in order to confirm we're making a run at defeating...
May 08, 2017
The event andd economic calendar is light this week. Import/ Export Price data and the 10 year Treasury auction are potential market movers. Friday hosts the only top tier economic data in the form of Retail Sales and April's Consomer Price Index.The uptrend that has been in effect since mid-April will continue unless the bond markets come up with a fairly convincing reason to exit. Bookmark this page ...
May 04, 2017
Markets are starting drift in the direction of their next most-desired direction. Defining "most-desired" is tircky because it can often be the case that bonds don't know exactly which direction that will be until they get all the data.The next 4 days are a great example. The key events unfold in a bond-...
May 02, 2017
Mortgage rates are slightly higher today but still inline with the days prior. This trend stands out compared to the last trend that had taken rates lower since the middle of March. The best levels of the year was April 18th. At that time, most lenders were quoting conventional 30yr fixed rates at 4% on their top tier scenarios.For the remainder of the week, Friday's Employment Situation and a couple of other big-ticket economic reports are...
Apr 28, 2017
Mortgage rates did not change today, still holding onto modest improvements that were seen yesterday. The past 2 days show that the rates are in limbo close to the lower end of the post-election range. The rates are were lower mid-April and are much closer to recent lows than highs. Current levels act as line in the sand that divids 2017 lowest rates from everything else. This is a zone that we would like to remain in. ...
Apr 26, 2017
The order of the day and week for domestic bond markets will continue to be the break out from the trend toward lower rates. After the election results came out, it became clear that we'd be looking at another challenge...
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