Mortgage News
Jan 12, 2016
Today we see the mortgage markets shift ever so slightly, with rates inching up a few ticks. It appears that the manufacturing report that came out of China earlier in the year had an unprecedented impact on the domestic market. We can also give some credit to the "beginning of the new year" changes in trading positions. In reality, both of these factors probably played a role. In looking at the 2 year yields,...
Jan 11, 2016
Mortgage rates continue the trend that they have been on for the last week and a half. This fall in rates that we have seen since the first of the year is bound to cease at some point. This current week may prove to be the week that things shift direction. There is fresh supply in the Treasury Auction arena, there is expected to be an increase in corporate bond supply, and there are indications that we are reaching a level of being...
Jan 08, 2016
Mortgage rates today are still inching lower due the recent rally in the bond markets. The motivation has been recent events concerning the global economy, as well as massive selling of stocks occurring at home and overseas yesterday. It is common knowledge that rates will likely be heading higher in the coming months, and it is only a matter of time before the flight to safety that is happening on a global scale takes a break....
Jan 07, 2016
The bond markets had an eventful overnight session, and things seem to be calming down as the day progresses. Economic trouble in China is likely responsible for this "flight to safety" or it could also be an after-effect of the trade flows of the New Year. Either way, bond markets have been outperforming. This is a pleasant surprise in the wake of the Fed rate hike, and the strong ADP report released yesterday....
Jan 06, 2016
Mortgage rates today are slightly higher today than yesterday. Similar to yesterday, the sell-off in the equities markets resulted in a flight to safety in the bond markets. We also saw global markets, namely Asia, Europe, and the US all walking in line with risk-aversion tactics that were motivated by oil prices. Bond markets started the day with a surprising advantage, and even though the ADP employment data came in stronger...
Jan 05, 2016
Bond Markets saw the lowest rate in the past two weeks yesterday. This was due to influence from overseas. Aside from the 5/1 ARM prices, the rates across the board aww anywhere from .03% to .07% decrease, which is significant. Today there is nothing coming in the way of economic data. In the broader picture, there is a growing concern that, aside from worsening economic data, there really isn't any way to avoid the...
Jan 04, 2016
This week is the first trading week in the New Year, and the year is starting out with a heavy calendar of data. Bond traders across the board are setting up their trading positions, and this can cause some impact as the trade flow is markedly increased at the beginning of each day/month/quarter/year. Additional emphasis is on this week's economic calendar, which includes today's ISM Manufacturing PMI and Construction...
Dec 31, 2015
Mortgage rates today are down just a nudge from yesterday. Most market participants made any final end-of-year decisions in the days immediately following the FOMC announcement in mid-December. The data released today that could potentially have an impact would be the Chicago PMI report. Typically though, end of year does what it does, and it would take a crisis to shake things up. Most market participants are in vacation...
Dec 30, 2015
Mortgage rates are slightly higher today, with the exception of the FHA 30year fixed rates, which have remained static. Today there isn't much relevant data, with the exception of the 7 year note auction, which will mark the end of the week in the grand sense, considering the half day tomorrow and market closure tomorrow. Of notable interest is the fact that yesterday, Treasuries performed the worst that they have been all month....
Dec 29, 2015
Mortgage rates today remain relatively flat, which is to be expected this time of year. Bond markets are responding to the limited data by way of a small break towards the ceiling of their recent trading range. This may or may not be a significant move, as last time bonds went this way, they followed with a move back down to the lowed-middle trading range. They seem to be hanging out in the mid-range at the current time....
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