Mortgage News
Apr 06, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Trading levels are low today due to the easter holiday and Passover. So far, MBS are close to erasing the majority of Friday's gains. A lot of lenders have repriced negatively or their rates are not any better than last week's. On the bright side, the disappointing NFP results from Friday indicate that the Fed will continue to delay a ...
Apr 03, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Nonfarm payrolls took front and center stage today. The report crushed recent optimism about the economy. 245,000 jobs were expected to be added, but instead that number came out to be 126,000. March has become the worst month for job additions since December 2013. As well, revisions to nonfarm payrolls in January and February decreased their ...
Apr 02, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The strong economic data presented today signals continued recovery in the US market. Jobless claims for last week are near their lowest level in 15 years. Weekly applications fell by 20,000 to a seasonally adjusted 268,000. As well, factory orders rose 0.2% for the first time in six months. Mortgage rates have continued to dip across the boar...
Apr 01, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Two big market movers today have continued to push rates under. ADP employment was significantly lower than expected. It was 189k instead of the forecasted 225k. This is the first time since January 2014 that the ADP report is below 200k. The Institute for Supply Management report was weak as well. It came in at 51.5 instead of 52.5. This show...
Mar 31, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Two important economic indicators were released today. The first was Chicago PMI for the month of March. It was weak--registering at 46.3 instead of the forecasted 51.5. Since it is below 50, that indicates contraction. Second, consumer confidence was overall better than expected. It registered at 101.3 instead of the predicted 96.4. Mortgage ...
Mar 30, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The most significant market movers this week will be the conclusion of the month and Q1. February's Incomes and Outlays data released this morning shows that personal income rose $58.6 billion. Wages and salaries were up $23.9 billion in February and personal outlays (PCE, personal interest payments, and personal current transfer payments)...
Mar 27, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Although markets are focusing on the Q1 gdp for 2015, the third and finalized estimate for 2014's Q4 was released today. The result was that gdp grew 2.2%, whereas the forecast was 2.4%. It was close enough to the forecast to negate any real impact on rates. Mortgage rates have continued to increase this morning and have regained their los...
Mar 26, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The recent economic data has been very mixed, which explains the random fluctuations in mortgage rates. Jobless claims data was released this morning, with fewer Americans than expected filling out unemployment applications. They fell by 9,000 to 282,000, reaching the lowest level in 5 weeks. Mortgage rates have been slightly increasing ...
Mar 25, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Durable goods orders in February were weaker than predicted (-1.4 instead of the forecasted +0.4). This is in constrast to last month when durable goods had increased despite severe weather conditions. Mortgage rates reacted by continuing to decrease. Expect mortgage rates to fluctuate very little ahead of next week when data from March will b...
Mar 24, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Rates have continued to decrease, except for the 5/1 ARM rates which increased by 2 points. The consumer price index was released for February which rose for the first time in four months. It increased 0.2% over the prior month signaling that the economy is recovering. The data from new home sales in February was also positive. These sales cli...
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