Mortgage News
Jan 29, 2015
December pending home sales data was released today, showing a drop of 3.4 percent, the largest decline since December of 2013. In more promising news, weekly jobless claims declined to the lowest point in about 15 years. The data is relatively skewed since it measured unemployment filings for the week of the Martin Luther King Jr. holiday, but nonetheless points to a healing labor market. Mortgage backed security trading paid little...
Jan 27, 2015
Mortgage bonds are in stronger territory today. Watch for dropping mortgage interest rates. Domestic data out today included durable goods, which slipped by 3.4 percent in December, as well as consumer confidence which conversely rose to 2007 highs in January at a reading of 102.9. In housing news, new home sales jumped 11.6 percent in December, hitting a six-year high. Case-Shiller showed that U.S. home price gains continue to slow, from...
Jan 23, 2015
Existing home sales climbed by 2.4 percent in December, slightly below economist expectations and relatively anemic where first time buyer market share is concerned. Mortgage bond trading is seemingly ignoring the domestic data, however, and still riding the wake of yesterday's ECB announcement. MBS are in stronger territory today; watch for dropping mortgage interest rates.Thursday: The big news from Europe is in - Europen Central Bank (ECB)...
Jan 22, 2015
The big news from Europe is in: Europen Central Bank (ECB) President Mario Draghi anounced this morning that the ECB will begin its own asset buying program this March. Every month, the ECB will purchase €60 billion in assets in order to stimulate the European economy. By fall 2016 the program is supposed to halt, when the €1 trillion asset mark will have be reached. MBS fell into weaker territory as a result, and we have seen...
Jan 21, 2015
Mortgage bonds had a volatile morning, resulting in a new sideways effect. It's difficult to say where rates are heading, although the market weakness indicates rates could be on the rise. This week is anemic where meaningful domestic reports are concerned. For potential mortgage rate movers, check back tomorrow for jobless claims, and Friday for existing home sales.This week's biggest news will come from Europe Thursday, when the...
Jan 20, 2015
Mortgage bonds are having a volatile morning, and it's difficult to say where rates are heading. This week is anemic where meaningful domestic reports are concerned. For potential mortgage rate movers, check back tomorrow for building permits and housing starts, Thursday for jobless claims, and Friday for existing home sales.This week's biggest news will come from Europe Thursday, when the European Central Bank (ECB) is expected to make...
Jan 15, 2015
Mortgage bonds have had a significant rally today, no thanks to domestic data, which took a major back seat to overseas headlines today. The Swiss National Bank (SNB) surprised traders by ditching the franc currency's cap, sending it soaring above the euro, which fell to a nine-year low. Releasing the cap points to the SNB's belief that the European Central Bank (ECB) will be announcing its own bond buying or QE initiative in the coming...
Jan 14, 2015
Disappointing retail sales signaled good news for MBS buying. Mortgage bonds are currently going strong thanks to the combination of European headlines and the 0.9 percent drop in December retail activity. Economists had predicted retail sales to increase by 0.1 percent. Watch for falling mortgage interest rates. The latter half of this week will be most significant for economic reports. For more potential mortgage rate movers, check back...
Jan 14, 2015
Today's trading dynamics are leaving MBS in slightly weaker territory. Watch for rising mortgage interest rates. The latter half of this week will be most significant for economic reports. For more potential mortgage rate movers, check back tomorrow for import prices, export prices and retail sales, Thursday for NY Fed manufacturing, Philly Fed business, and jobless claims, and Friday for CPI, a measure of inflation. Monday: MBS are in...
Jan 12, 2015
MBS are in stronger territory moving into today. Watch for dropping mortgage interest rates. The latter half of this week will be most significant for economic reports. For more potential mortgage rate movers, check back Wednesday for import prices, export prices and retail sales, Thursday for NY Fed manufacturing, Philly Fed business, and jobless claims, and Friday for CPI, a measure of inflation. Friday: December saw solid job growth in...
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