Mortgage News
Oct 29, 2014
The all important FOMC Quantitative Easing decision is in, and QE is done as expected. The Fed's statement was released this afternoon and the news created drops in the stock market and bonds. Watch for static or rising mortgage interest rates. A busy week for month-end trading and several economic reports leaves room for bond market movement. Check back tomorrow for GDP and jobless claims, and Friday for personal consumption and Chicago...
Oct 28, 2014
Mortgage bonds are weaker now, increasing the possibility for rising rates. Durable goods came back so bad that bonds did experience a jump, however consumer confidence data came back its highest in seven years, pushing bonds back down. Watch for rising mortgage interest rates. In housing news, the Case Shiller index showed that home price gains are still paced at a crawl. A busy week for month-end trading and several economic reports leaves...
Oct 27, 2014
Pending home sales data came back positive today - although below the expected mark - but mortgage bonds are stronger thanks to weakness in European markets. Watch for dropping mortgage interest rates. A busy week for month-end trading and several economic reports leaves room for bond market movement. Check back tomorrow for durable goods and Case Shiller, Wednesday for the all important FOMC rate decision (the Fed is expected to talk about...
Oct 16, 2014
Mortgage rates have been on a roller coaster the past 24 hours, and while up slightly now, are still holding at impressively low numbers for even beyond the past year. If economic data plays any part in where rates will head next, it's looking like they could experience more ups and downs: the NAHB housing market index fell to 54, below expectations that it would remain at 59. The Philly Fed business index was slightly above expectations of...
Oct 15, 2014
As of yesterday, mortgage interest rates have hit major lows. They could be driven even lower, considering the massively disappointing economic data riding today's headlines: Empire State manufacturing, retail sales, and producer pricing all came back in the pits. NY Fed manufacturing was expected to be a pretty 20.25, but instead hit a homely 6.17. Retail sales were expected to grow if auto sales had not been taken into account, but instead...
Oct 14, 2014
Strong mortgage bond market gains over the weekend - the strongest in a while, in fact - resulted in significant drops for mortgage interest rates. Now bonds are edging back a bit so it's a great time to lock in case rates find themselves creeping back up. For other potential market movers this week, keep an eye out for retail sales and Empire State manufacturing tomorrow, initial jobless claims, NAHB housing market index, and the Philly Fed...
Oct 10, 2014
Mixed inflation indicator data came in this morning: import prices were stronger than expected, dropping 0.5 percent as opposed to the predicted 0.7; export prices dropped by 0.2 percent, higher than the predicted 0.01 percent. Mortgage bonds weren't moved by the news, and are a bit weaker today than they were yesterday. Watch for rising mortgage interest rates. Expect your next mortgage rate update Tuesday of next week; markets will be...
Oct 09, 2014
Yesterday's excitement is now backing off - bonds are slightly weaker, although seemingly unaffected by jobless claims, which dropped to their lowest, almost pre-recession levels. The 1,000 claim drop was far off from the expected, since economists predicted a rise in unemployement benefits claims. Watch for rising mortgage interest rates. For other potential market moving data, tune in tomorrow for import and export...
Oct 08, 2014
FOMC meeting minutes are in and good news in low oil prices and a stronger dollar are pushing stocks up and bonds down. Watch for rising mortgage interest rates. For other potential market moving data, tune in tomorrow for jobless claims and Friday for import and export prices. Yesterday: U.S. trading activity and markets overseas contributed to stronger bond markets Tuesday, including MBS. Interest rates fell. Bookmark this page for...
Oct 07, 2014
Trading activity and markets overseas are contributing to stronger bond markets today, including MBS. Watch for dropping mortgage interest rates. For other potential market moving data, tune in Wednesday when the Fed releases FOMC meeting minutes, Thursday for jobless claims and Friday for import and export prices. Yesterday: Mortgage bonds were in stronger territory in absence of economic data (which may not have prompted market movement...
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