Mortgage News
Dec 02, 2014
Mortgage bonds are in weaker territory thanks to corporate debt issuance. Probably not helping matters is New York ISM manufacturing data, which came back stronger than the 55.0 expected at 62.5, as well as strong construction spending. Watch for rising mortgage interest rates. Check back tomorrow for more potential market movers, including manufacturing data and ADP employment. Thursday will show jobless claims as usual, and Friday has a...
Dec 01, 2014
Welcome back after the holiday weekend, and with a stronger opening for mortgage bonds this morning. Since their strong opening, MBS have fallen back a bit (partly thanks to slower ISM output numbers: from 59.0 in October to 58.7 in November), but still be on the lookout for falling mortgage interest rates. Check back tomorrow for more potential market movers, including contruction spending and New York ISM. More manufacturing data and ADP...
Nov 26, 2014
Mortgage bonds experienced gains this morning, in part because jobless claims rose in the latest week to 313,000, well above the expected drop to 288,000. Durable goods ordering showed some improvement, but largely due to increased military spending. Ignoring military orders, overall numbers fell. Watch for dropping mortgage interest rates. For the rest of the day, expect all to be quiet on the Western front; the holiday lends itself to...
Nov 25, 2014
Case Shiller data out today shows home prices jumping up more than expected, but the rate at which prices are rising continues to slow. Cosumer confidence numbers were weaker than expected. Last but not least, the third quarter GDP reading was strong today: 3.9 percent, up from the previous reading of 3.5 percent. Despite some strong data including the favorable gross domestic product revision, mortgage bonds are still in more positive...
Nov 24, 2014
Mortgage bonds started the day weak thanks to overnight activity, but thanks to some weak domestic data and contributions from overeas markets and data, have now bounced back. Watch for falling mortgage interest rates. Thanksgiving Thursday means markets are closed, and Friday won't leave room for much foreseeable movement either. But tune in tomorrow for Case Shiller and consumer confidence, then Wednesday for a cornucopia (see what I did...
Nov 21, 2014
Despite news from overseas, including a jack-in-the-box rate cut from China, U.S. bond markets are staying relatively flat, although at strong levels. Watch for static or falling mortgage interest rates. Thursday: Weak European data sent bonds soaring into positive territory. Domestic numbers were good: U.S. jobless claims are down again and holding on to the lowest levels we've seen since 2000; core CPI, a measure of inflation, jumped...
Nov 20, 2014
Weak European data sent bonds soaring into positive territory last night. Domestic numbers were good: U.S. jobless claims are down again and holding on to the lowest levels we've seen since 2000; core CPI, a measure of inflation, jumped 0.2 percent since the last reading; existing home sales also came back positive, jumping 1.5 percent in October. Mortgage bonds did not yield in the face of this good data, until the Philly Fed announcement...
Nov 19, 2014
Mortgage bonds are maintaining weak levels after German economic data came back far healthier than expected, throwing the stock market into a buying trend. Watch for rising mortgage interest rates. In housing news, building permits shot up in October, especially for multi-family units which jumped by 10 percent. Housing starts themselves were low, but a greater number of building permits is a good sign for future construction. A week...
Nov 18, 2014
The National Association of Home Builders (NAHB) housing market index came back stronger than expected today, jumping from October's 54.0 to 58.0, a few ticks above the prediction of 55.0. Since the reading is still above 50.0, the outlook for home sales is optimistic. Mortgage bonds are in lower territory today; watch for rising mortgage interest rates. A week healthy with economic data may lend itself to moving rates. Check back...
Nov 18, 2014
Mortgage bonds are in more positive territory after an overnight trading session and influence from Japanese markets (and a poor GDP reading). Watch for dropping mortgage interest rates. A week healthy with economic data may lend itself to moving rates. Check back tomorrow for housing market data from NAHB, Wednesday for housing starts and building permits, and a crowded Thursday for CPI (a measure of inflation), jobless claims, Philly Fed...
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