Mortgage News
Dec 09, 2015
Mortgage rates are sllghtly higher today, and the bond markets seem to be in somewhat of a standard consolidation mode ahead of the Fed Meeting. Bond markets started out the morning session in weaker territory after an uneventful overnight session. The rise in oil prices, as well as stock prices put some pressure on the markets earlier in the day. The 10-year treasuries and mortgage backed securities began to recover after the...
Dec 08, 2015
Mortgage rates are lower today by a pretty significant amount. Today the bond markets opened up in weaker territory, and then have been bouncing back. The catalyst for this shift, both today and yesterday has been the near 7 year lows in the oil prices. The barrel price for oil has reached a low of $36.64. During the domestic session, the German Bunds and Treasuries were dragged lower, resulting in stronger opening levels...
Dec 07, 2015
Bond markets started the overnight session in weaker territory, but the trend did not continue. The EU bond markets had a nice rally that started at 2am Eastern Time, however the effect on the US Treasury market was minimal. The end result was a flat opening day. There was initial weakness in the bond markets, but then a return to unchanged by 9:30am. We've seen a rally since then in both the stocks and bond markets....
Dec 04, 2015
Mortgage rates have had quite a volatile day today. Today the Non-Farm Payroll report was released, and actually came in stronger than anticipated. The median forecast was 200K, and the actual numbers came in at 211k. Wage growth slowed down from +0.4 to +0.2. Unemployment numbers were steady at 5.0 percent. The initial market reaction was negative for bonds, but they have been steadily improving since. Oil...
Dec 03, 2015
Mortgage rates have inched up today compared to yesterday. The bond market made headline news by losing more ground in the last 24 hours on any single day since 2013. There have been five separate alerts issued for negative re-price risk since the markets opened. This is not a typical scenario. We can conclude that the speeches from Yellen and Draghi had much to do with the bond sell-off. More details are being...
Dec 02, 2015
Mortgage rates are significantly lower today across the board. The bond markets are surging in the last two days as the tone around a Fed rate hike in December is changing slightly. There have been some confusing comments coming out of the Fed. Thursday's accommodation from the European Central Bank has also helped take the pressure off of the Federal Reserve. The change in tone in the markets may be the result of...
Dec 01, 2015
Bond markets surprised us today with the largest rally in the last two months. Fannie Mae 3.5s are up 3/8ths of a point, and 10 year yields are down 5.4bps as well. The ISM data released this morning was not likely the instigating factor, as the movement was already underway by the time the numbers were released. The rally is likely due to the way that traders have positioned themselves for November's end-of-month and setting up...
Nov 30, 2015
Markets are still slow today, and are reacting to the slow Thanksgiving week. Economic data has made a small impact, as most of the market moves took place prior to the release of the data today. During the overnight session, Treasuries moved into weaker territory, and the start of the European trading session brought about a small bump in yields, although the movement has been taking place in a very narrow trading range. MBS...
Nov 25, 2015
Mortgage rates are undeniably sideways today as was anticipated. There were a few small blips today brought about by the 7 year treasury auction, but otherwise, data is not making much of an impact , despite plenty of opportunities to do so. A few of the reports released, such as the Personal Consumption report (0.1 versus the 0.3 forecasted) would have ordinarily had an impact, but didn't. The European session made massive...
Nov 24, 2015
The mortgage markets today are continuing to consolidate, as they have been since the greater part of November. The 10 year yields are back down to pre-NFP report numbers. There was a significant move in markets today, which was spurred by the news of Turkey, but the impact from that move is now in the rear view. It seems that barring an economic disaster, the rates are in holiday mode, and not much can be done to avoid that...
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