Mortgage News
Apr 15, 2016
Mortgage rates round out the week slightly above the recent lows. We are still in the "lowest mortgage rates in three years" territory, so if you are thinking about locking, it wouldn't be a bad idea, all things considered. Today's economic data was limited, and bond markets seem to be gathering inspiration lately from other factors, including strategic trading goals, corporate bond issuance, and trade flow...
Apr 14, 2016
Mortgage rates rose slightly, for the second time this week. Rates are still "near" to the lowest levels we've seen in 3 years. Much of the inspiration lately has been related to trade flow considerations and technical data. Speaking of technical data, the Core CPI report is being released today, which would provide inflation indicators, and be a potential market mover. Another big ticket item is the 30 year bond...
Apr 13, 2016
Mortgage rates are relatively unchanged today. Yesterday brought a spike in the middle of the day, which may be perceived that the latest downward trend s coming to an end. There may be a bounce in consideration. Trade flow has been a key motivating factor recently, and the spike in oil and stocks didn't help the situation. By the time next week rolls around, we should have more of an indication on whether this is a true...
Apr 12, 2016
Mortgage rates continued to be flat today, with the only blip in movement being seen in the 30 year Jumbo Rate. The most prominent news in the market today is the fact that German Bunds are operating on the high end of their trading range, apparently looking to stage a bounce. Since the European market is closely tied to the US market, this bounce could have a ripple effect across the rest of the financial market. On the positive...
Apr 11, 2016
Mortgage rates are relatively flat today. Having started off the day in weaker territory, and found their footing at around noon. Treasuries were impacted by corporate issuance, which helped MBS to outperform. We didn't have much in the way of domestic data today. Tomorrow is the 10 year note auction, and then on Thursday we have the Jobless Claims, and the 30 year bond auction. Friday brings the Industrial...
Apr 08, 2016
Bond markets have had a positive run ever since the March 2016 Fed meeting. The bond markets, particularly the 10 year yields, are approaching some important technical benchmarks, which, once broken through, will give us more faith that the trend will continue. These marks are the resistance, and the maximum resistance lines, set at 1.67 and 1.72, respectively. Fridays typically bring a squaring off of positions, with shorts covering...
Apr 06, 2016
Today the mortgage rates jumped up slightly today due to various reasons. Bonds started the day out in weaker territory. During the overnight session, oil, stocks, and European bonds hurt the US treasuries. European markets sold off rather quickly today, which contributed to the weakness. The minutes report from the recent FOMC announcement came out without adding to the drama, especially since it confirmed Yellen's...
Apr 05, 2016
Mortgage rates today are continuing on their downward trend. With the exception of the 5/1 ARM, we saw rates drop just a bit from yesterday. This latest rally has been going for about 3 weeks, and is looking similar to the rally that began 2016 which lasted for twice as long. January provided more motivation to fuel the rally, so the jury is still out as to how long this one will last. There may be more room to run, but...
Apr 04, 2016
Mortgage rates are steady today, maintaining at the lowest levels in about 6 weeks. Most lenders are settings 30 year fixed rates at 3.625 for top tier borrowers, with slight variations per lender. Today brought nothing significant by way of data, and things seem to be stabilizing after the shift in momentum brought about by Yellen's Fed update last week. We are still waiting for this trend to establish itself, but it looks as...
Apr 01, 2016
Rates are continuing to drop over the last several days. As of the close yesterday, we were at the lowest rates that we had been in a month. Of particular interest is the correlation between Yellen's Fed update and the frenzy immediately following with mortgage rates. To add to the momentum is today's NFP report. An increase in the number of jobs could be an indicator of a strengthening economy. The focus is...
Searching Today's Rates...
Featured Lenders
Lisa Stepp
RBS Citizens
Clifton Park, NY
