Mortgage News
Mar 23, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Rates have continued to lower over the course of the weekend. The existing home sales from February were released today. They rose 1.2% to an annual rate of 4.88 million units, which fell short of the forecast 4.9 million units. This is a gain of 4.7% compared to February of 2014 and marks the fifth consecutive month of positive year-over-year...
Mar 20, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Trading activity has been light, leaving rates similar to the lows of yesterday. The futures expiration this afternoon should cause some trading activity. Since rates are at historic lows, now is a great time to refinance your mortgage. Homeowners who refinanced late 2014 will save about $5 billion in mortgage interest over the first 12 months...
Mar 19, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates fell drastically after the fed meeting yesterday; they are now near historic lows. The Fed indicated yesterday that it will continue to keep short-term rates near zero for the time being. Keep in mind that a rate hike could come as early as June. Expect rates to continue to decrease tomorrow.Wednesday: Rates have sli...
Mar 18, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Rates have slightly declined across the board. The main event will be at 2pm today when the FOMC results are released. Until then, the majority of the action is occurring overseas. Germany's 10 year auction pulled in the highest demand they have seen in 13 years. Rates remain calm here, awaiting the federal news this afternoon.Check...
Mar 17, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates have been relatively inactive ahead of the Federal Open Market Committee (FOMC). This committee meeting is expected to result in restrictive monetary policy, thus increasing interest rates. Wall Street's negative sentiment is being driven by the housing report from February--noting that there has been a decrease in new home ...
Mar 17, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Today started off with weak industrial production and housing market data. MBS reacted by increasing rates, but only to levels that are slightly above those of Friday. Overall, the economic data this month has been weaker than predicted. There will be very little action before the Fed meeting on Wednesday.Check back tomorrow for housing...
Mar 13, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates have stayed relatively stable today. US producers had weak profit margins in February; the producer price index fell for a fourth straight month. These negative results affected mortgage rates this morning, but rates bounced back almost immediately after to levels that are similar to yesterday's. Other than the PPI, there wi...
Mar 12, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Retail sales were very weak, falling for the third consecutive month. This was contrary to expectations and caused investors to purchase a significant amount of US government bonds. MBS have responded with decreasing rates. The $13 billion sale of 30-year bonds at 1 pm will decide what direction MBS will go in. Expect rates to continue to decr...
Mar 11, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Today's auction of 10-year treasury notes sold $21 billion. The demand was about average and the yield was higher than February's, so it went well overall. The 10-year note auction will be impacting MBS as rates have continued to decrease.Tomorrow there will be many events occurring. Check back to see import and export prices, r...
Mar 10, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. As the European bond market strengthened, so has the US market. US 10-year yields have been steadily decreasing. MBS have retraced a majority of the losses from last week. The European bond reinvigoration was due to new QE purchases and political drama in Greece.Check back tomorrow to see the results of the 10-year note auction; Thursda...
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