Mortgage News
Aug 21, 2014
Stronger than expected economic data is bolstering mortgage bond weakness today. Existing Home Sales hit a high in July, topping June by 2.4 percent. Good news, despite being under year-over-year by 4.3 percent. The Philadelphia Fed business outlook was similarly optimistic; the index rose to 28 from 23.9 in July, blowing expectations for losses out of the water. Watch for rising mortgage interest rates. Yesterday: Little activity in the...
Aug 20, 2014
Little activity in the bond markets today ahead of the release of additional insight into the recent FOMC meeting. Unless word from the Fed moves markets in either direction or headlines out of Ukraine prove stirring, watch for static mortgage interest rates. For market movers this week, keep an eye out for Thursday's Jobless Claims, Philly Fed Business, and Existing Home Sale numbers.Yesterday: Consumer Price Index data came back flush...
Aug 19, 2014
Consumer Price Index data came back flush with expectations, but Housing Starts were stronger than expected, up almost 16 percent in July. Mortgage bonds had started the day relatively strong but have been sinking ever since. Look out for rising mortgage interest rates. For market movers this week, keep an eye out for Thursday's Jobless Claims, Philly Fed Business, and Existing Home Sale numbers.Yesterday: A stronger than expected NAHB...
Aug 18, 2014
A stronger than expected NAHB housing report is contributing to mortgage bond weakness this morning, and is the only significant economic news for today. Builder confidence rose two points in August to 55, the highest levels since January. Watch for static or rising mortgage interest rates. For market movers this week, keep an eye out for tomorrow's Building Permits, Housing Starts and Core CPI, and Thursday's Jobless Claims, Philly...
Aug 15, 2014
Empire State Manufacturing came back weak at 14.69, below the 20 expected and well below the previous recording of 25.6. However, economic data is being dwarfed by the consistent and disconcerting headlines concerning Russian and Ukrainian conflict today, fueling mortgage bond strength. Watch for dropping mortgage rates. Yesterday: Weak Import Prices and Weekly Jobless Claims data bolstered mortgage bond strength today, fed from the get-go...
Aug 14, 2014
Weak Import Prices and Weekly Jobless Claims data are bolstering mortgage bond strength today, fed from the get-go by less-than-robust European Gross Domestic Product numbers. Watch for dropping mortgage interest rates. For potential market movers, keep an eye out for tomorrow's release of Empire State Manufacturing data, and of course, geopolitics in the headlines.Yesterday: The prediction was a jump of 0.2 percent from June, but...
Aug 13, 2014
The prediction was a jump of 0.2 percent from June, but this morning revealed flat July Retail Sales data - complete with weaker auto and auto parts sales - as well as weak numbers from European markets. All are boosting the mortgage bond today. Look out for dropping mortgage interest rates. For potential market movers, keep an eye out for Thursday's Import Prices, Friday's release of Empire State Manufacturing data, and of course,...
Aug 12, 2014
Mortgage bonds are holding yesterday's levels on this quiet day. Watch for static interest rates. For potential market movers, keep an eye out for tomorrow's Retail Sales, Thursday's Import Prices, Friday's release of Empire State Manufacturing data, and of course, geopolitics in the headlines. Yesterday: Overseas conflict fed mortgage bond strength through the morning, with little help from absent economic data. Mortgage...
Aug 11, 2014
Overseas conflict has been feeding mortgage bond strength, and there will likely be little help from economic data over the course of this light week. Today is no exception - no reports are due. Watch for static or falling mortgage interest rates. For potential market movers, keep an eye out for Wednesday's Retail Sales, Thursday's Import Prices, Friday's release of Empire State Manufacturing data, and of course, geopolitics in the...
Aug 08, 2014
Bond markets gained strong ground with the announcement of the U.S. air strike in Iraq last night, but notably lacking were MBSs. As of the middle of today's trading, mortgage bonds were in slightly positive territory. Watch the headlines to see if any upticks or easing in geopolitical risk moves the bond up or down, respectively. Look out for static or dropping rates. Yesterday: A large drop in unemployment claims did little to move...
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