Mortgage News
Oct 24, 2016
Mortgage rates this week could face some volatility at the end of the week as the data leading up until then is relatively light. The two reports that we are watching are Durable Goods reports, and the Advance GDP. These are both strong indicators of economic direction. Being that Monday is the official "end of month" (and also is Halloween) we can anticipate that market participants will likely be wrapping things up...
Oct 17, 2016
Things in the bond markets have been slightly more positive in the last few days, but not positive enough to calm fears about the direction of the big picture. Speaking of the bi bog picture, the bond market has been taking most of it's cues from the European trading patterns. The German Bund and the UK Gilt are currently in the spotlight. This week the Gilt had one of the sharpest sell-offs of the bundh, which pulled Bunds...
Oct 13, 2016
Mortgage Rates are a tad lower today, which comes as a relief after 10 consecutive days of higher rates. The victory is not so much in the numbers themselves, but rather the idea thast we are finally seeing this last trend turn around (or at least take a break). Of course, we are still holding our prverbial breath, as we wait to see if the rates will continue to drop in the coming days. Oftentimes, following a long rally, the...
Oct 12, 2016
Bond markets are fighting what some would say is the inevitable. European weakness inspired some drama in the overnight session as EU bonds continued to sell off. This has been one of the major factors driving the US rates up for several days now. British yields are up about 40bps, and US Bonds are up 23 in the 10 year yields. Today the FOMC announcement did little to surprise. There was some talk about a potential hike by...
Oct 07, 2016
Today was "NFP" Friday, on which the much anticipated 'Non-Farm Payroll" report gets released. This report (generally speaking) has the ability to make waves in the bond markets. Today's report came in pretty strong, with an overall jobs number at 156K (compared to the anticipated 175K). Other aspects of the job report came in closer to the forecast, with Private Payrolls at 167K VS 170K....
Oct 05, 2016
Mortgage rates continue their upward trend as concerns over the much talked about "taper tantrum" dominate the mortgage landscape. Bond markets started off the day in a weaker position due to a pronounced weakness in Europe. This weakness was compounded by a much stronger than anticipated ISM report. The ISM data came in with the PMI rising faster month over month than it had ever done in the entire history of the...
Oct 04, 2016
Bond markets reacted in a pretty big way to today's headlines regarding the European Central Bank's determination on the reduction of asset purchases. This means that Draghi may be limiting the ECB's bond buying program. These types of news headlines coming out of the ECB make big waves in the US markets, as global bank policy can and often does create excess demand for debt around the world. US Treasuries and Bond...
Sep 30, 2016
Today the morning started out calm and in stronger territory. As soon as the 9:30ET Stock exchange opened, the pressure to sell set in. As widely reported by the media, the culprit was the Deutche Bank's DOJ fine being lowered from 14 billion to 5 billion. In reality, the selling was already underway by the time that news made it's way around. Bond market volatility typically occurs with the opening of the NYSE....
Sep 29, 2016
Today in the mortgage markets, we finally saw a break from the 6 consecutive days of improvements. Most lenders are now pricing in around 3.375% for top tier scenarios, with some lenders still quoting out 3.5%. In the greater picture, we are still near historic lows, but today's break is probably a good indicator to lock if you were waiting. In terms of mortgage motiv...
Sep 21, 2016
Today the bond markets reacted to some statements made from the Fed indicating that rates are to remain lower for a longer period of time. This change in the Fed's positioning was expected to some degree across market participants, but the news incited a mini-rally in the markets. Some data to consider. In June, one member of the Fed commitee saw rates under 1.25% by end of year (2017). Now, there are nine with the...
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