Mortgage News
Sep 16, 2016
Mortgage rates are very flat today. Today there isn't too much to report, aside from the fact that today's CPI report came in as expected. Had the report been either stronger or much weaker than projected, markets may have had somewhere to go. Having nothing to inspire them today, markets are simply holding their breath until next week's Fed speakers make announcements out of the US and Japan. It's hard to...
Sep 15, 2016
Today in the mortgage markets, we had a couple of different elements affecting the outcome. Firstly, the opening of the NYSE at 9:30am EST started with some volatility in the bond market. The gains yesterday appeared to be the result of bond traders "short-covering" their positions ahead of next week's Fed announcement. In addition, today's Retail Sales report came in weaker than anticipated. Bonds started...
Sep 13, 2016
Today marks the 4th day that we've seen rates being pushed up and through the post-Brexit range. Bonds had been going along a path of consolidation previously, and now it looks like they are moving. This is the most serious looking move that the bond markets have had since the middle of 2015. The movers today were plenty, including reactions to last Thursday's ECB announcement, as well as remarks from ...
Sep 09, 2016
It's safe to say that the sideways trend has been broken. Yesterday's announcement from the European Central Bank indicated that the financial markets may be making a change, specifically tightening up on thier "allowance" and making lending guidelines more stringent. Reports today from Fed speakers didn't help matters, as the possibility of a rate hike on our side becomes more likely thanks to Europe. This...
Sep 07, 2016
Both Mortgage Backed Securities and Treasuries held steady today in anticipation of tomorrow's ECB announcement. Recently, Global monetary policy has been the driving force for market movement. The top three players in the global economics game are the USA, Europe, and Japan. Great Britain also is notable for offering inspiration. Today's flat market indicates a pause before the announcement tomorrow, and...
Sep 02, 2016
Bonds started out the day in weaker territory, due to the re-allocation of funds drivin by start of month trading positions. This also likely was the result of the higher labor cost data, which came in at +4.3 vs the anticipated +2.1. The saving grace for the day came in the form of the weaker ISM report. The report was bad enough to undo all of the negativity from the first part of the day, basically leaving us unchanged on the...
Aug 29, 2016
Mortgage rates have fought their way back down from their highest rates in several weeks. Rates spiked following the Jackson Hole Symposium on Friday. The markets took the comments out of the Fed as an indicator that a rate hike (or two!) in 2016 was still likely. One important fact to point out is that while the Fed rate does not directly influence the mortgage rates in the way that the MBS do, the MBS typically will lose some ground...
Aug 23, 2016
Today we saw bonds relatively unchanged. The massive improvement in New Home Sales surprisingly didn't inspire any movement downward in bonds, rather the move following the release of new home sales data actually was an improvement in MBS. Treasuries gave up some ground in the afternoon, but MBS didn't follow. Tomorrow's 5 year auction is capable of causing some movement in the bond markets. It seems as though...
Aug 18, 2016
Mortgage rates are slightly lower today, as yesterday's gains held strong. The 10-year yields had been repeatedly trying to push below the 1.54% level, and then finally achieved that goal as the day progressed. Mortgage rates had been sideways at best coming into this week, and recived a push from the 5 yeat TIPS auction today. This narrow trading range is bound to give way to something significant. Perhaps the jackson...
Aug 17, 2016
The bond market today didn't make any major moves outside of the recent range. The FOMC Minutes had very little impact on rates today, in fact, they improved slightly afterwards. Domestic data was light today, and most of the inspiration comes from the European markets. The Fed announcement today didn't make any clear indication as to a imminent rate hike, so that leaves us to wait and see what happens. The 10 year...
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