Mortgage News
Mar 09, 2015
What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. It has been a quiet day in the US bond market. Yields have been increasing, while prices have been lowering. The majority of activity is currently occuring in Europe.Check back tomorrow to see the results of the 3-year note auction, Wednesday there is a 10-year note auction, and Thursday there will be the release of import and export pr...
Mar 06, 2015
What will mortgage interest rates do on Monday? Mortgage professionals are voting in our daily poll. The jobs report released today will have a profound effect on mortgage rates. Overall, the jobs report was strong--295k jobs were added. The lack of meaningful wage growth is being overshadowed by job creation. Rates are likely to go up after the results of the job report. If you are in the process of getting a mortgage and are sensitive to r...
Mar 05, 2015
The European Central Bank released its quantative easing details which caused only modest volatility this morning. The selling that proceeded stopped before pushing rates into weaker levels, leaving us near unchanged levels heading into the afternoon. Rates have stayed relatively stable since yesterday. After the official jobs report is released tomorrow, expect rates to increase. The intial job report today showed that private job creation grew...
Mar 04, 2015
Rates have been volatile over the past couple of days and today there has finally been some relief. MBS have been slowly stabilizing since this morning. The slightly weaker ADP reading made for modest, but immediate gains. Tomorrow, expect the trend to continue with MBS getting stronger. Watch for falling mortgage interest rates.For more potential mortgage market movers, check back Thursday for jobless claims, and of course Friday for...
Mar 03, 2015
Pharmaceutical company Actavis is still dictating today’s range trade after their corporate bond offering yesterday. This morning’s minimal rate fluctuation is due to the fact that the bond offering is lower than yesterday’s estimates. After the deal is finalized later today, it will determine the rates. Until then, there will be instability in either direction. The Activas bond offering will likely rank as the second-largest...
Mar 02, 2015
MBS are in weaker territory today, despite this morning's weak ISM data. Typical end-of-month corporate debt issuance is partially to blame. For now, watch for rising mortgage interest rates. For more potential mortgage market movers, check back Tuesday for ISM New York, Wednesday for ADP national empoyment and ISM PMI, Thursday for jobless claims, and of course Friday for February's big jobs report. Friday: Mortgage bonds were...
Mar 02, 2015
Mortgage bonds were stronger this morning, aided in part by a veritably weak Chicago PMI reading. Hitting its lowest levels since February 2009, Chicago PMI came in at 45.8, far below the expected 58 and a grim fall from January's 59.4. Keep in mind that any reading over 50 marks upturn and expansion; readings below 50 point to decline. GDP data was mixed, but considering its alignment with expectations did little to boost MBS buying....
Feb 26, 2015
Mortgage bonds are in weaker territory today, despite a stronger morning. Durable goods orders came in higher than the expected, jumping 2.8 percent in January. CPI data came in poor, falling 0.7 percent last month and marking the biggest slip since December of 2008. Jobless claims came back heavier than predicted, hitting 313,000 and well above the predicted 290,000. More market movement could come today with treasury auctions, but for now watch...
Feb 26, 2015
Mortgage bonds had been going strong on Friday (see below) before falling into weaker territory courtesy still of European influence (Greek bailout considerations in particular), pushing interest rates back up. As of now, the possibility of a Greek bailout is shaky, and MBS are in stronger territory. Watch for dropping mortgage interest rates. For more potential mortgage market movers, check back tomorrow for Case Shiller and Yellen's...
Feb 20, 2015
With more headlines out of Europe came some mortgage bond buying, and now MBS are in stronger territory. There's little to no domestic data out today to either feed or get cold shouldered by traders, so just about all the action can be attributed to newswires rife with the Greece-Eurozone interaction, the reports and results of which have been volatile all day. For now, watch for falling mortgage interest rates. Thursday: Labor...
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