Mortgage News
Apr 20, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Overall bond markets are weaker, but there aren't any significant economic events scheduled for today. It is a typical monday lacking in trading activity. Mortgage rates still remain low heading into the spring buying season.Check back tomorrow for Ginnie Mae 30 year, Wednesday for existing home sales for March, Thursday for the wee...
Apr 17, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. After this morning's bond market volatility, MBS remain nearly unchanged. This has been a recurring trend. The first announcement was that the Consumer Price Index rose 0.2% in March for the second consecutive month. The expectation was for a 0.3% increase. The second market mover was the Consumer Sentiment Index for early April. It rose t...
Apr 16, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. There were three pieces of important economic data today. The Philly Fed manufacturing index showed that economic growth could be increasing in April with a reading of 7.5. That is above the forecasted reading of 6. In comparison, in March the reading was at 5. Also, jobless claims increased by 12,000, making this a six week high of 294,000. C...
Apr 15, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. This morning has been flooded with negative data. After the positive reports from yesterday, there has been a complete reversal. The economy continues to take one step forward, and then another step back, without any real progress. MBS are not headed in a clear direction. The NY Fed Manufacturing Survey came in at -1.19 instead of the forecast...
Apr 14, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Trading had a strong reaction to the market data released this morning. The economy is showing signs of growth. Retail sales grew 0.9% in March, rising for the first time since November. Predictions for retail sale growth were very close, at 1.0%. Producer price inflation rose 0.2% in March; expectations were at 0.1%. This is the first increas...
Apr 13, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Trading on Mondays has almost come to a full halt. There aren't any big events scheduled today, fortunately the rest of the week will prove to be more exciting. MBS have been in positive territory today and treasuries sold off overnight.Check back Tuesday for March retail sales; Wednesday there is the NY Fed Manufacturing Survey and...
Apr 10, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Import and export prices did not have a strong effect on MBS. Export prices increased by 0.1%, which surpassed expectations of a 0.2% decline. Import prices fell in line with predictions; they decreased by 0.3%. MBS remain relatively unchanged this week and have been stable overall this year.Next week will be much more eventful. Tu...
Apr 09, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates continue to push near record lows this week. This is causing some lenders to consider negative repricing. The 30-year bond auction this morning had weak demand due to residual effects from the jobs report. The treasury department auctioned $13 billion in 30-year bonds at a high yield of 2.597%. Check back tomorrow for March...
Apr 08, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The biggest event today was the FOMC minutes. Fed members are divided over hiking rates in June. Several members support a hike in June, others support a hike later in the year, and a couple do not want to see a hike until 2016. Also, the FOMC decided to remove the word "patient" from previous post-meeting statements regarding t...
Apr 07, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The bond market is saturated with low liquidity today. There are still many absences due to the holiday. The Job Openings and Labor Turnover Survey was released this morning. Job openings in February rose 3.4% (making it a 14-year high). However, employers filled fewer of those jobs than in the previous month. This caused some trading movement...
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