Mortgage News
Jan 09, 2015
December saw solid job growth in 2014 according to the latest payroll data. Non-farm payrolls showed a 252,000 increase, and unemployment sank to its lowest in over six years, sitting at 5.6 percent. News on average hourly wages was not as strong; a five cent per hour drop was reported today. Bonds had a much more significant reaction to the hostage standoff in France and ECB hints about a less imminent quantitative easing (QE), gaining...
Jan 08, 2015
MBS are in weaker territory today, likely no thanks to a dip in weekly jobless claims, since recent mortgage bond trading has been less influenced by domestic data and more so by overseas markets. Watch for rising mortgage interest rates. For potential mortgage market movers, check back tomorrow for non-farm payrolls and unemployment. Wednesday: A suite of domestic economic data was released today, including slightly lower...
Jan 08, 2015
A suite of domestic economic data was released today, including slightly lower internation trade and strong ADP numbers for the end of 2014 including 241,000 new jobs. Mortgage bond trading was less concerned with domestic news, however, and took its greatest cues from Europe, as usual. Into the middle of today, MBS are in slightly weaker territory. The next piece of news to watch is the FOMC meeting minutes, which may have a moving effect on...
Jan 06, 2015
ISM non-manufacturing data for December is in, and lower than the expected 58.5 at 56.2. The 56.2 is the lowest reading since June, but it was mostly ignored by MBS trading. MBS are in strong territory today, espcially following some volatility brought on by European market actiivity. Watch for falling mortgage interest rates. For potential mortgage market movers, check back tomorrow for international trade, ADP employment and FOMC meeting...
Jan 06, 2015
Mortgage bonds are slowly edging their way back up after some holiday volatility. Watch for dropping mortgage interest rates. For potential mortgage market movers, check back tomorrow for more ISM data, Wednesday for international trade, ADP employment and FOMC meeting minutes, Thursday for jobless claims, and Friday for non-farm payrolls and unemployment. Bookmark this page for daily mortgage interest rates and market updates.30 year (FRM)...
Dec 30, 2014
Mortgage bonds are sitting pretty today, at some of the strongest levels of the year. This is perhaps no thanks to today's unnoticed economic data, including a relatively unsurprising 4.6 percent increase in home prices in the year ending in October, according to this morning's Case Shiller reading. Consumer confidence numbers for December came in as well, with a 92.6 reading that barely falls below the expected 93. Watch for falling...
Dec 29, 2014
MBS are slightly stronger than Friday's levels after a rally fueled by European headlines halted today. No significant domestic reports have been made. Watch for static or falling mortgage interest rates. This week is again shorter thanks to the New Year, with markets closing early Wednesday and completely Thursday. For potential market movers, check back tomorrow for consumer confidence and case shiller, Wednesday for Chicago PMI and an...
Dec 22, 2014
Existing home sales hit a six-month low according to this morning's data from the National Association of Realtors. Sales are down by 6.1 percent, the most significant dip since May. Despite this less than exciting news, mortgage backed securities (MBS) are not gaining any traction, and even dipped a little. They are riding in negative territory as of the middle of today. Watch for static or rising mortgage interest rates. Thursday is...
Dec 19, 2014
MBS are in more positive territory thanks to Euro markets influencing domestic trading. There's little else to go off of, considering today's lack of economic data. Watch for falling mortgage interest rates. Thursday: Mortgage bonds are weaker today following the FOMC announcement yesterday. Rates rose post-announcement. Look out for rising mortgage interest rates into today. In employment news, jobless claims dropped by 6,000 in the...
Dec 18, 2014
Mortgage bonds are weaker today following the FOMC announcement yesterday. Rates rose post-announcement. Look out for rising mortgage interest rates into today. In employment news, jobless claims dropped by 6,000 in the latest week to 289,000, pointing to a firming job market. Philly Fed data also came in today, but showed a slowed manufacturing pace in December. The reading of 24.5 pales in comparison to November's outstanding 40.8, but was...
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