Mortgage News
Feb 10, 2016
Mortgage markets are continuing to react to global distress, and rates keep pushing lower. It seems that the bond markets, as well as the stocks and commodities all expect the economy to have a downturn. Being that rates are making their way into the mid-3's, those with a rate in the 4's should definitely consider a refinance in the near future. Market participants are starting to doubt the option of another rate hike...
Feb 09, 2016
Mortgage rates fall even lower today as bank stocks seem to be the motivating factor. Of particular interest was Deutche Bank, which pointed out costs of protecting the institution from default, and the rising costs of doing so. The European bank stocks took a nose dive in the overnight hours yesterday, and although domestic stock markets made some recovery on the day, it wasn't nearly enough to come into positive territory....
Feb 08, 2016
Mortgage rates are officially the lowest that they have been in a whole year. This much movement in one day is very rate, and is only seen about 20 days of the year... if that. Many 30 year fixed rates are offering quotes to top tier borrowers at 3.65%. The message being heard across the mortgage market is that if you haven't locked already, now may be a good time to do so. Economic data this week is especially light....
Feb 05, 2016
Mortgage rates are pretty flat today, and that is likely the result of some pre-NFP report consolidation. NFP actually may not be as big of a deal as it has been historically, as the market seems to have it's sights on other data, considering that employment metrics have been doing well lately. Bonds have been at the best rates in eight months, and it would take a larger than life miss to divert that pattern. Along with the...
Feb 04, 2016
Rates are yet lower again today, as yesterday the bond markets were stuck between two sources of inspiration. Those two sources being stocks/oil, and domestic data. Yesterday the ISM data sent bonds lower, before the bounce in oil prices sent them back up again. Back in the days of the ECB announcements on the first Thursday of the month, Thursdays were a day where some movement was to be expected. Today we don't have...
Feb 03, 2016
Mortgage rates continue to move lower as the bond market rally continues. The trend is still continuing, despite economic data released today. We saw two big reports today (ADM Employment and ISM Non-Manufacturing). As of late, the bond market has been paying very little attention to domestic data. The rally yesterday tells us that we will need to see two or three BIG days of selling to disturb this trend. In January...
Feb 02, 2016
The recent bond rally has pushed mortgage rates even lower, which is a good thing, but also at the same time has everyone wondering when this good news is coming to an end. If we compare January 2016 to January 2015, we see some striking similarities. The behavior int he 10 year yields, for example, is very similar in the pattern. Granted, this was in the midst of the European QE drama. The next few days will be critical...
Feb 01, 2016
Mortgage rates this week could face a bit of volatility. The first week of the month typically contain many several pieces of data that will dictate the direction that rates will go. The main influencer this week will be the Non-Farm Payroll report being released on Friday. We also have the re-assigning of trading positions for the month, and some other reports that can make an impact. In terms of today's economic...
Jan 29, 2016
Mortgage rates today are lower in all areas except the 5/1 ARM rates. There is an intriguing shift in the bond markets, whereas the pattern of following oil and stocks known as the "stock lever" has been broken, and now bonds still holding their ground, even as stocks are doing the same. We even see oil prices coming back up, and bonds are intent on remaining strong. There are some changes taking place in the global economy that may...
Jan 28, 2016
Mortgage rates are again lower today. The bond market is struggling to make further improvement. The 10 year yields down to 1.98, and they have not been able to go down below that number, despite many attempts. This is a technical indication of what is known as a "pennant". A "pennant" is indicative of a trend in which the chart reflects a convergence of the highs and lows of the recent trading pattern....
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