Mortgage News
Jun 03, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates shot up to some of the highest levels seen in 2015. This is mainly due to commentary from ECB President Draghi. In this morning's press conference he said the ECB would end purchases sooner than expected if conditions are favorable. This is only months after the ECB announced a new stimulus package.In other news, the ...
Jun 02, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The main event affecting MBS this morning was news from Europe. Greece has issued a new debt deal proposal. There was a false alarm last week that there a new deal being put together. However, this time around the news came straight from the Prime Minister. Also, factory orders came in weak. They fell in April by 0.4% after increas...
Jun 01, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The ISM manufacturing index for May hit 52.8. Also, US construction spending increased by 2.2% in April. It has reached its highest level in 6.5 years. This strong data increased the selling of MBS and led to widespread negative repricing. If this week continues to bring positive economic data, this could push the Fed to hike rates sooner...
May 29, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS have been very stable this morning and the day has been exceptionally calm in comparison to the rest of the month. There was a short-lived rally after GDP results. GDP for Q1 contracted by 0.7%. Economists expected a 0.9% contraction. The initial estimate of Q1 showed that the economy grew 0.2%. Chicago PMI also came in weak at 46.2 vs the...
May 28, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Treasuries and corporate debt continue to be the main factors pushing liquidity. Today's economic data has made a small dent in MBS. Jobless claims came in weaker than predicted. US jobless claims rose to a five-week high of 282,000 last week. Economists expected claims to fall to 270,000. Conversely, pending home sales reached their highe...
May 27, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS started the day in weaker territory. After news leaked that Greece was close to finishing a debt deal, there was a sudden spike in selling and yields quickly rose. This information seemed suspicious, but the markets rolled with it. Soon after, an EU official said that they could not confirm that a debt deal is being arranged. The selling q...
May 26, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Even though this week will be short, the bond market action will likely make up for it. This week is packed with important economic data. For the past month, mortgage rates climbed to their highest rates of the year. Then last week they began stabilizing. This signals a calm before a volatile storm.Today it was released that orders for ...
May 22, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The Consumer Price Index came in strong this morning at +0.3 instead of the forecasted +0.2. The bond markets quickly reacted to this data, pushing mortgage rates slightly lower. Bond market liquidity has been forceful this morning, partially due to Memorial day weekend cutting today short. Yellen's speech at 1 pm ET will likely have a big...
May 21, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS started rallying today. MBS started in positive territory and remained relatively unchanged after the jobless claims data. Initial jobless claims increased by 10,000 to a seasonally adjusted 274,000. Economists expected 271,000 new claims. Although applicants increased last week, unemployment benefits remain at historically low levels.&nbs...
May 20, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The FOMC Minutes this afternoon will trigger an influx of trading. Until then, it will be a quiet day for bond markets. The European market will likely have a significant impact on MBS over the next few days, so keep an eye out for action overseas. Expect mortgage rates to decrease after the FOMC Minutes.Check back Thursday for initial ...
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