Mortgage News
Dec 17, 2014
Mortgage bonds are relatively volatile this morning, and perhaps not much affected by today's low CPI (consumer price index) reading, which dropped 0.3 percent from October when it was predicted to only fall by 0.1 percent. The FOMC announcement may likely have a stronger impact on where mortgage interest rates head. Experts predict the Fed will change their language concerning rate hikes to lend itself to more flexibility in terms of when a...
Dec 16, 2014
The pace of housing starts slowed in November, but per the now-usual trend, MBS trading is ignoring domestic data and eyes are on the headlines of Europe, including Russia's weak Ruble along with a mishmosh of other eurodrama concerning the ECB's QE initiatives. Mortgage bonds were stronger earlier but still ride in positive territory midday. Watch for falling mortgage interest rates. For more potential mortgage rate movers, check...
Dec 16, 2014
Empire State manufacturing numbers came in and sit at their lowest levels in two years: November's reading had been 10.16, and today's announcement revealed -3.58 for December. The last time the index read negative - an indicator of decline - was January 2013. Better news out of the housing sector: although NAHB numbers came in a tick lower for December at 57 than they had in November's 58, overall builder confidence is relatively...
Dec 12, 2014
With oil prices plunging and European markets giving plenty of movement cues to US traders, MBS have been undergoing a rally today, and it's unclear where mortgage interest rates will head. Bet on net static or rising rates. Thursday: MBS were in weaker territory Thursday, partly thanks to strong retail sales data. Holiday shopping in November likely helped retail sales numbers jump 0.7 percent from October. It might sound slight, but...
Dec 11, 2014
MBS are in weaker territory today than they were yesterday, partly thanks to strong retail sales data this morning. Holiday shopping in November likely helped retail sales numbers jump 0.7 percent from October. It might sound slight, but that's the biggest leap in eight months. Watch for rising mortgage interest rates. Also on today's plate, but with lesser market-moving influence, are import prices and jobless claims. Largely...
Dec 09, 2014
German bonds are tanking again today, propelling US bond buying upward. No other significant economic data is moving markets as heavily as the Euro activity. Like yesterday and always, when bonds go up, rates will come down. Watch for falling mortgage interest rates. This week's economic calendar is lighter overall, with the main focus being Thursday's plethora of data including jobless claims, import and export prices, and retail...
Dec 08, 2014
MBS are in more positive territory this morning, no thanks to falling oil prices, but certainly thanks to European trading cues. Watch for falling mortgage interest rates. This week's economic calendar is lighter overall, with the main focus being Thursday's plethora of data including jobless claims, import and export prices, and retail sales. For housing news, check in Wednesday for the mortgage refinance index. Friday: Strong...
Dec 08, 2014
Strong non-farm payrolls data (NFP) threw MBS into weak levels this morning. The predicted 230,000 was majorly trumped by the actual 321,000, showing rapid hiring in November. Jobless rate remains 5.8 percent, inline with expectations. Watch for rising mortgage interest rates. Thursday: Jobless claims for the latest week dropped by 17,000 to 297,000, but above what economists expected. Largely unaffected by the data were MBS, which were up...
Dec 04, 2014
Jobless claims for the latest week dropped by 17,000 to 297,000, but above what economists expected. Largely unaffected by the data were MBS, which were up and down thanks to the European Central Bank's press conference. After the excitement over the ECB announcements, it's tough to say where mortgage rates are headed. For more potential market movers, check back tomorrow for a slew of data including non-farm payrolls and...
Dec 03, 2014
Some weak data out of ADP is helping to lift weaker mortgage bonds today, but not quite enough to go positive. Private payrolls increased in November to 208,000, but below expectations, some around 223,000. ISM data brought good news for the service sector but a dip in employement, reinforcing some bond bounce-back. Watch for static or falling mortgage rates. Tomorrow will show jobless claims as usual, and Friday has a slew of data including...
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