Mortgage News
Mar 30, 2016
Rates are again lower today, having surged immediately following Yellen's announcement yesterday. It was a good day for stocks, as well as bonds, as Yellen confirmed that the Fed's position on being "data dependent" was a legitimate one, and also that the recent economic crises are enough to possibly dissuade the Fed from hiking rates until probably April or June of 2016. The message conveyed that the Fed would be...
Mar 29, 2016
Mortgage rates today are lower across the board. Since yesterday's economic data came in mixed and failed to inspire a move, bonds are looking to the NFP report for inspiration. Some are already anticipating rates moving lower. Federal Reserve Chair Janet Yellen will be speaking at 11:30am today at te Economic Club or New York. The result of this speech, which could serve as some confirmation on where rates are...
Mar 28, 2016
Bond markets are continuing on their sideways trend, seemingly looking for motivation. This week the domestic reports should bring enough to push the bond yields in either direction. Today was the release of the Consumption numbers, tomorrow we have the Case Shiller 20 mm, Consumer Confidence, and the 5 year note auction. Wednesday we have the 7 year note auction, Thursday is the Initial Jobless Claims data and the Chicago...
Mar 24, 2016
Today mortgage rates gained a few percent across the board as bonds lost ground. The net result on the week is unchanged. 10-year yields are back to 1.80, which is where the week began. The trading week is over, as markets closed at 2pm EST today, and are to remain closed tomorrow as well. Durable goods data helped the bond markets earlier in the week, but the bounce in Oil and Stocks carried more weight as the week...
Mar 22, 2016
Mortgage rates today remain largely unchanged on the day, as bond markets are looking to prove or disprove the direction rates will take. Last week, we saw the rates fall for several days ina row, then reversed direction. The stock and bond markets both lost some footing at the same time, which demonstrates that there is some divergence from the typical "stock lever" phenomenon that we are accustomed to seeing. This...
Mar 21, 2016
Mortgage rates are starting the week out higher. This is due to the fact that oil and stocks have climbed higher since last week. This rate increase is creating doubt as to whether or not last week's shift is a legitimate bounce or not. Last week four out of five days were days in which the rates were falling, after rising pretty sharply in the previous two weeks. Part of the rate increase could be to do with the fact that...
Mar 18, 2016
Bond markets had to find thier own sense of inspiration today, due to the lack of domestic data. The bond markets are trying to confirm that the shift in direction will be ongoing. At this point we have had five consecutive days of lower closing yields in the treasury markets, and five consecutive days of mortgage backed sucurities closing higher. The Fed announcement on Wednesday precipitated the majority of movement....
Mar 17, 2016
Today may actually mark the end of the negative momentum in the bond markets. The day started off on the heels of yesterday's post-fed rally. Today's economic data came out stronger than was expected, and we are still holding our ground. Of course, it would take a bit more than 24 hours of positive improvement to be a trend, but the point is that the shift has begun. The message behind the FED announcement...
Mar 16, 2016
Yesterday the Fed began the process of finalizing the details of today's policy announcement. The data to be released this morning won't be a major factor in the decision, but will matter over the large scale picture. The announcement today will contain the up to date economic projections from hte members. These indicators can serve to provide insight as to when the Fed rate hikes are likely to occur. The ...
Mar 15, 2016
In the domestic markets, we have the release of the Retail Sales Report, as well as the NY Fed Manufacturing data, and the NAHB Housing Index. In bigger news today, as we opened the day, we were feeling the global reaction to the Bank of Japan policy announcement. The tone of the announcement was that there wasn't going to be any immediate policy easing, but that possibly at some point in the future there would be some loosening...
Searching Today's Rates...
Featured Lenders
Lisa Stepp
RBS Citizens
Clifton Park, NY
