Mortgage News
May 04, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The economic data released today was overlooked by MBS. Factory orders were slightly above forecast, at +2.1 instead of +2.0. Also, the Chicago Fed President Evans said there will be a rate hike in 2016, which comes as no surprise. The real market mover came from European bond pressure. Mortgage rates have been increasing, which could ca...
May 01, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The ISM manufacturing index for April came in relatively flat at 51.5% instead of the expected 52.2%. Any reading above 50% indicates growth, no matter how slow that growth may be. Additionally, MBS are at their weakest levels in a month and a half. The month of April saw mortgage rates stay within a narrow range.Thursday: MBS are still...
Apr 30, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS are still being pushed into weaker territory due to activity in Europe's bond market, although the effect is not as strong as it was yesterday. There were two pieces of economic data this morning, which were overall positive. Jobless claims came in at 262k instead of the forcasted 290k. Also, the Employment Cost Index indicated an...
Apr 29, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The economy grew very slowly in Q1. GDP only grew 0.2% vs the forecasted 1%. Compared to Q4 of 2014 when GDP gained 2.2%, this is a massive deceleration. Bond markets were already pushing into weaker territory by the time GDP was released. This was due to european debt selloff which made MBS less attractive. GDP has a minimal impact on the dir...
Apr 28, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Consumer confidence for April was lower than forecasted, reaching its lowest level since December. It was 95.2 instead of the predicted 102.5. The 5 year auction was another piece of economic data that was beneficial for bonds. This temporarily boosted the bond market and mortgage rates began decreasing.Check back Wednesday for the 7-ye...
Apr 27, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The activity in Europe caused some action in the US bond market. As a result, MBS had lower prices and higher yields. MBS then bounced back after this morning's activity and are relatively unchanged in comparison to Friday. Thankfully, there are many events coming up this week. Check back Tuesday for April's consumer confidence, the 5-...
Apr 24, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Today, the durable good orders from March were released. The orders increased by 4.0% instead of the predicted 0.6%. This was mainly due to an increase in civilian aircraft orders. However, the core orders that exclude aircraft and military goods fell by 0.5%. The forecast for these internal components was a 0.3% improvement. The MBS gains hav...
Apr 23, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates have spiked after selling off this morning. This sell off can be attributed to corporate bond action. Corporate bonds are an alternative, attractive investment to MBS. Investors have put down a surprisingly large amount of money totaling more than $70 billion for the AT&T corporate bond. There is a great desire to sell MBS t...
Apr 22, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. With the spring house buying season starting to kick off, finally the bond markets are seeing some action. Finally the markets are seeing some bond action. Spring housing season is starting to pick up. Sales of previously owned homes in March were stronger than expected at 5.19 million instead of the forecasted 5.03 million. This is a 6.1% inc...
Apr 21, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Rates have been stable today, barely moving above yesterday's. In fact, the 30-year fixed rate has moved so little in the last four weeks that it has stayed in the range of 3.66%-3.70%. The markets seem to be on pause until the Fed takes a decisive move on interest rates.Check back Wednesday for existing home sales for March, Thursd...
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