Mortgage News
Sep 05, 2014
The August employment numbers are in and the gains were not gains enough to get the bond market down: 142 thousand jobs were added last month, significantly below the 200-thousand pace per month of the last six. June and July were revised lower to boot. Unemployment fell from 6.2 to 6.1 percent, but is not considered significant because the count is likely due to unemployed Americans ceasing their job search, and therefore losing their title of...
Sep 04, 2014
Mortgage bonds are in weaker territory after a morning rally and flurry of data (including weaker private sector hiring, according to ADP), geopolitical headlines, and what turned out to be a rather underwhelming press conference with European Central Bank President Mario Draghi. The ECB did not make any concrete announcements for the start of Europe's own bond buying (or quantitative easing) initiative. Watch for rising mortgage interest...
Sep 03, 2014
Ukraine announced a ceasefire last night that drove bond markets down hard, and quickly. Mortgage bonds are in negative territory as of the middle of today. Other than geopolitical headlines, no other news is moving the markets much. Watch for rising mortgage interest rates.Yesterday: Mortgage bonds were weaker, though they weren't pressured much lower by strong ISM data. United States manufacturing was recorded at a three-year high last...
Sep 02, 2014
Mortgage bonds are weaker today, though they weren't pressured much lower by strong ISM data. United States manufacturing was recorded at a three-year high last month, jumping above expectations of 56.9 to 59. Look out for static or rising mortgage interest rates. This short, post-holiday week will be rife with employment figures: watch out for Thursday's ADP National Employment and Friday's big boy, the August job report,...
Aug 29, 2014
Mortgage interest rates have barely budged from yesterday's levels, and aside from Chicago PMI, which exceeded expectations and jumped by 11.7 points in August, effectively recovering from the lows recorded in July, few other significant reports are due. Strong data out of Chicago, but like yesterday, not enough to push bonds into negative territory given activity overseas.For other market movers this week, keep an eye out for tomorrow's...
Aug 28, 2014
The European Central Bank's announcement of plans to begin their own quantitative easing by spring 2015 has the American bond market caught up in a feeding frenzy. More to the point, mortgage bonds are in positive territory and we can look for mortgage interest rates to drop. This is all in spite of perfectly delightful GDP data (4.2 percent), lowered Jobless Claims, and strong Pending Home Sales - the strongest in close to a year. For...
Aug 27, 2014
No reports are due today, so bonds are taking cues from foreign markets and domestic trading. Mortgage bonds were in positive territory midday. Watch for falling rates. In housing news, the Mortgage Bankers Association reports that total loan application volume was up 2.8 percent in the latest week. For market movers this week, keep an eye out for tomorrow's GDP reading and Jobless Claims, and Friday's Personal Consumption and...
Aug 26, 2014
Strong Durable Goods data didn't move mortgage bonds out of yesterday's trend, but stronger than expected (and more viable) Consumer Confidence numbers pushed the bond down to unchanged levels. CC is at a 7-year high, bumped to 92.4 from the 90.3 recorded in July. Watch for rising mortgage rates.Case Shiller reports that home prices are up in the year ending in June, but down from the index recorded in the year ending in May. The 8.1...
Aug 25, 2014
Bonds are in slightly positive territory today, and only helping is New Home Sale data, which dipped 2.4 percent in July - watch for dropping mortgage interest rates. For market movers this week, keep an eye out for Tuesday's Durable Goods, Case Shiller, and Consumer Confidence, Thursday's GDP reading and Jobless Claims, and Friday's Personal Consumption and Chicago PMI. Friday: Little to no economic news was due that could move...
Aug 22, 2014
There's little to no economic news due today that could move the bond market, and Yellen's speech at Jackson Hole didn't inspire much of a change either. Keep eyes on Ukraine headlines and trading for mortgage interest rate levels. Yesterday: Stronger than expected economic data bolstered mortgage bond weakness. Existing Home Sales hit a high in July, topping June by 2.4 percent. Good news, despite being under year-over-year by...
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