Mortgage News
May 19, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. April housing starts data came in positively. They were at 1.135M instead of the forecasted 1.029M. Also, new permits came in at 1.143M vs the expected 1.070M. These two strong pieces of economic data caused bonds to sell off this morning. Equally as important is last night's commentary from the ECB board member Benoit Coeure. He said the ...
May 18, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. This Monday is looking better for MBS than last Monday. The markets are still weak, but there is less pressure from German bunds this time. Expect mortgage rates to stay the same ahead of this Wednesday's FOMC minutes. Check back Tuesday for Ginnie Mae 30 year, housing starts for April, building permits for April; Wednesday for...
May 14, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates have not been as volatile this morning. This narrow range for rates will not last long if the trend of the past 2 weeks continues. The bond market uncertainty still remains. Rates are at their highest levels of 2015. Surprisingly, the European bond market is having less of an effect on MBS today. All of the action will be occurr...
May 13, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Extreme MBS fluctuations continue their crash course today. This erratic behavior is mainly due to overseas action, which is overshadowing domestic economic data. Before April, the 2015 bond markets were fairly stable. European bond weakness has pushed the US bond market into negative territory. MBS and treasuries have been closely following G...
May 12, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Yesterday mortgage rates rose quickly, and MBS have been pushed into even weaker territory today. The main factor causing the sell-off is a lack of liquidity and trading for the sake of trading. Even small levels of trading are having an exaggerated effect on treasuries and MBS. Expect mortgage rates to continue to push higher.Check bac...
May 11, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS opened the day in weaker territory due to the activity in Europe and corporate debt issuance. Specifically, Greece announced a 750 million euro payment to the IMF. Mortgage rates have decreased today, but rates are still high due to the bond sell-off that began early last week. The sell-off was shortly interrupted last Thursday and Friday,...
May 08, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The bond market is correcting itself after mortgage rates spiked earlier this week. We are seeing a rally that is pushing MBS into stronger territory. The weak NFP had a minimal effect on the direction of mortgage rates. Nonfarm payroll (NFP) increased by 223K in April, instead of the expected 228K. Expect mortgage rates to continue to de...
May 07, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The jobless claims data was largely ignored today. First-time unemployment benefits are barely rising above a 15-year low. German bunds remain the dominating factor behind Treasury and MBS weakness. The 10-year bunds jumped to 0.80 overnight. To put that into perspective, they were at 0.05 two weeks ago. In response, MBS have started recoverin...
May 06, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. ADP released employment for April today, which fell lower than expectations. There were 169,000 private sector jobs created in April instead of the predicted 205,000. Another factor pushing MBS into weaker territory is the German bund sell-off, which has been the largest in 10 years. Expect mortgage rates to continue to increase, as they have ...
May 05, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The Institute for Supply Management released its non-manufacturing purchasing managers index for April, which came in strongly at 57.8 vs. the forecasted 56.3. On the other hand, the US trade deficit jumped up 43% in March to $51.5 billion. The trade deficit data caused a small rally. The last important occurrence surrounded corporate debt. Ab...
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