Mortgage News
Dec 28, 2015
Bond markets are in holiday mode, which means that they are pretty well on cruise control. Momentum continues to be relatively flat. Markets will be closed on New Year's Day, and will be closing early at 2PM EST on Thursday. In terms of data, today's calendar brings the 2 year auction, tomorrow we see the Case Shiller Home Prices, Consumer Confidence, and the 5 year Treasury Auction. Wednesday we have the...
Dec 23, 2015
Mortgage rates are slightly higher today. All in all, the bond markets have been relatively flat over the holiday season. The 10 year yields have been trading between 2.12 to 2.36. The medium term averages (1-4 months) have stabilized to a narrow range between 2.20 and 2.23. The shorter timeline will always be more volatile than the longer range. As for this week, today marks the busiest week for economic data...
Dec 21, 2015
Mortgage rates continue to drop as the week starts out. This week, being the holiday week, should be typically slow. We do have plenty of data being released his week, so it will be interesting to see what has a bigger impact, the data, or the early close for the holidays. Tuesday's GOP report seems that it might be a market mover, as well as Wednesday's Durable Goods and Income reports. That would be the time to...
Dec 18, 2015
Today mortgage rates are lower still, as the short term market is experiencing a nice rally. This is probably a result of defenses coming down a bit, and tensions easing about the Federal Reserve's announcement earlier in the week. Bond markets are moving into the 21 day trading range, and getting back in line with where we had been since the middle of November. Data this week has been light, and since the holidays are right...
Dec 17, 2015
Mortgage rates actually went down yesterday, even with the Fed hike. The reason for this is that the rate hike has to do with the Federal Reserve's Target Rate. This rate is what other banks get charged to borrow money. This Federal rate is important when we are talking about a global financial system. This rate will affect some financial institutions more than others. The Fed meetings only occur eight times per...
Dec 16, 2015
Today marked the day for the FOMC announcement. As anticipated, the decision was to impose a 1/4 percent rate increase, citing economic data and projected increase in the overall growth of the economy in coming months. There have already been several negative repricing alerts issued since he decision came into light, and the bond markets have been showing weakness. Coming into the day, the bonds were at the weakest levels since...
Dec 15, 2015
Mortgage rates are higher today due to yesterday's sell-off in the Bond Markets. This was seen as a re-setting of the shorts, meaning that traders are positioning for mortgage rates to increase. Bonds are weaker again today, and here is a re-cap of the past few days' events. Firstly, The ECB announcement this month changed the course of the bond trading pattern. The second shift occurred when oil prices dropped,...
Dec 14, 2015
As we head into the Fed Announcement in only two days,, things are getting more volatile. Friday's snowball effect is now giving way to some investors who were forced out of the market to re-establish their trading positions. It is a pretty solid consensus that the Fed's initial plan for a quarter percent hike that was intended for August will now come to fruition. It is still unclear as to what investors will do with...
Dec 11, 2015
Mortgage rates experienced a slight uptick today, although we are still in a narrow range on the week. Today's market has brought about the largest rally that we've had all week, despite recent data. The reason for today's rally is likely the significant weakness in stocks and oil, as well as the flight to the sidelines that we are seeing in Treasuries and MBS. The current price on 10 year Treasury note is up 28...
Dec 10, 2015
Mortgage rates are flat today for the most part. The lack of relevant economic data, and the consolidation trend ahead of next week's Fed announcement are the main culprits. There have been some volatile spikes, induced by fluctuations in oil prices and stocks, as well as the treasury auction throughout the week. Yesterday's 30-year auction was "average", which served to prevent bonds from a move away from risk....
Searching Today's Rates...
Featured Lenders
Lisa Stepp
RBS Citizens
Clifton Park, NY
