Mortgage News
Oct 06, 2014
Mortgage bonds are in stronger territory today in absence of economic data (which may not have prompted market movement either way). 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. Friday: Strong employment data was released: 248,000 jobs were added in September, outperforming...
Oct 03, 2014
Strong employment data out today: 248,000 jobs were added in September, outperforming the 215,000 expected, and the unemployment rate fell to a six-year low of 5.9 percent. Mortgage bonds would normally plummet at the news and mortgage interest rates would jump, but as of now, bonds barely got weaker and mostly did not move. Watch for static or rising interest rates. Yesterday: Mortgage bonds started strong, likely because of rumors...
Oct 02, 2014
Mortgage bonds started strong today, likely because of rumors surrounding China's military activity. Eventually they sank to weaker levels. Watch for rising mortgage interest rates. In economic news, jobless claims dropped in the latest weak, optimistically pointing to labor market strength. For other potential market movers this heavier week, tune in tomorrow for employment data galore. Yesterday: Bonds were up and down in an...
Oct 01, 2014
Bonds have been up and down today, no thanks to economic data including strong September employment numbers out of ADP and declining construction spending. Keep watching to see which way rates will head, as there's no telling now. For other potential market movers this heavier week, tune in tomorrow for jobless claims, and Friday for employment data galore. Yesterday: Bonds opened on the weak side and jumped closer to unchanged...
Sep 30, 2014
Nothing major has happened for mortgage bonds today, which opened on the weak side and jumped closer to unchanged levels later in the morning. Where mortgage rates will go at this point is unclear. Economic data released today included a slowed home price growth from Case Shiller, plummeting consumer confidence numbers for September, and a lower than expected but stil positive purchasing manager's index out of Chicago. True to recent trend,...
Sep 29, 2014
Mortgage bonds are higher today thanks to overseas data and month-end trading dynamics. This is despite stronger than expected personal spending and personal income data out of our own economy, with 0.5 and 0.3 percent jumps, respectively. Watch for falling mortgage interest rates. For other potential market movers this heavier week, tune in tomorrow for consumer confidence, Case Shiller, and Chicago PMI, Wednesday for ADP employment data...
Sep 26, 2014
Today the final second quarter 2014 GDP reading is in, and revised up to 4.6%. The bond markets did experience some drops, but not because of the GDP. News that Bill Gross, CEO of the world's larget bond fund PIMCO, just left the building (left or thrown out? - speculation continues) pushed bonds down. Mortgage bonds were not hit too hard, however. Watch for static or rising mortgage interest rates. Yesterday: August durable goods came...
Sep 25, 2014
August durable goods came in at an 18.2 percent drop from July levels, not too far off expectations. Jobless claims, on other hand, rose less than expected, pointing to good news in the job sector. True to recent trend, mortgage bonds did not react much to the data, but instead took cues from European trading and opened higher, climbing higher still into midday. Watch for dropping mortgage rates. For other potential market movers this week,...
Sep 24, 2014
New home sales went through the roof in August to 504 thousand, marking a six-year high and surpassing the 430 thousand expected. Sales soared a third above the rate year-over-year. July was also revised to be higher. Lately the bond markets haven't reacted much to economic data, whether good or bad, but if convention takes the reigns watch for dropping bonds and rising rates. For other potential market movers this week, look out for...
Sep 23, 2014
Bonds started the morning strong but lost their pulse into the middle of the day, and are now sideways. Watch for static or dropping mortgage interest rates. Economic data didn't have much of an effect either way, but the Federal Housing Finance Agency (FHFA) announced today that home prices have slowed their roll to the slowest pace in two years. Good news for prospective buyers and perhaps some economy fuel, but bad news for homeowners who...
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