Mortgage News
Apr 29, 2016
Bond markets found their footing today, despite some volatility driven by the European markets in the overnight session. This is a small victory for the bond markets, who, up until yesterday teetered on the edge of dangerous territory. We won't really know until Monday whether or not this win is attributed to month end bond buying, or if we really are heading in a positive direction. Domestic data didn't make much of an...
Apr 28, 2016
Mortgage rates moved lower for the now second day in a row. This is thanks to the PSR, a term that MBS Live member Jeff Anderson coined to describe the Post-Supply-Rally. This phenomenon happens following the end of the weekly auction cycle. That day happened to be today, with the last auction being the 7 year auction at 1pm EST. Immediately following the auction results, bonds rallied, and the 10 year yields fell to...
Apr 27, 2016
The sound of relief can be heard from the bond markets, as well as from the stocks and oil markets. The Fed announcement today didn't make any strong indication that rates were going to hike in the near future. There was some verbiage which hinted that the global economy and inflation rate would be monitored, but that was not nearly as threatening as the October Fed announcement, which bolstered their position to hike in December...
Apr 26, 2016
Bond markets today seemed intent on continuing their slow and steady trek higher. The only blip in the trend was felt when the Durable Goods report and the Consumer Confidence Report came in weaker than expected. This impact was short lived, and the motivation for the day seemed to be the European market and the 5-Year Treasury auction at 1pm EST. Bonds reacted almost immediately to the open of the European session. It...
Apr 25, 2016
Mortgage rates didn't budge at all today. There was a lack of relevant data and nothing significant going on in the news, so the motivation was very scarce. As the week progresses, there will be a policy announcement coming out of the Federal Reserve that is likely to cause a stir. Many market participants feel that this meeting will serve to broadcast the intention of the Fed to hike. Rates have been on this upward...
Apr 22, 2016
Mortgage rates increased today again, bringing about some anxiety in the bond markets. This week marks the third consecutive week of higher "highs" and lower "lows" in rates. Those who study the technical trends of the bond markets are seeing indication that we may be at risk for several weeks of negativity in mortgage rates. It seems that even in Oil and Stocks start falling, it may not have a positive...
Apr 21, 2016
Rates today are officially at the new one-month high. This week alone has brought the fastest rise in rates since the beginning of March. If this trend continues tomorrow as well, this could be the worst week for mortgage rates since Nov 2015. Lenders are offering up a mixed response, quoting at between a 3.625 and 3.75% for a conventional 30 year fixed rate loan in top tier situations. Momentum is increasing at a steady...
Apr 20, 2016
Mortgage rates today have increased across the board. The bond markets have been feeling the pressure over the last several days to make a move. Bonds have been fairly resistant to change in the wake of rising stocks, oil prices, and the release of new corporate bond issuance. Today's data released was the Existing Home Sales, which aren't typically a market mover. Given this increase, lender rate sheets typically...
Apr 19, 2016
Bond Markets started the day in weaker territory, just under 1.80, and had a difficult time breaking through the holding pattern in any which direction. Oil and Stock markets (known as the "risk markets") improved during the overnight session. Trade flow helped after the open of the domestic trading session, and then numbers improved slightly as the Housing Starts came in weaker than expected. Bond markets lost some...
Apr 18, 2016
Bond markets are still working diligently to break the negative trend that ensued after the FOMC Announcement on March 16th. In order to confirm this change, we are looking at the technicals this week. The initial break-through range is 1.80 and 1.84 for the 10 year treasuries. If we enter that range, it would be a positive sign. If we break through the range, it would be a sign that we are heading into positive territory....
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