Mortgage News
Jul 25, 2014
Mortgage bonds are treading in weak territory today even after the New Home Sales report for June came back with a disappointing 8.1 percent drop from May. This equates to an annual rate of 406 thousand, below the expected 475 thousand. Look out for rising mortgage rates.Yesterday: An absence of market moving data left mortgage bonds unchanged midday after a stronger morning thanks to influence from overseas markets. In housing sector news,...
Jul 23, 2014
An absence of market moving data left mortgage bonds unchanged midday after a stronger morning thanks to influence from overseas markets. Keep an eye out for lower or static mortgage rates. In housing sector news, the Mortgage Bankers Association realeased its Market Composite Index for the latest week, announcing total loan application volume rose by 2.6 percent.This week will be light where marketing moving reports are concerned, but look out...
Jul 22, 2014
Mortgage bonds are in weaker territory after a lower than expected Consumer Price Index (CPI) was announced by the Labor Department this morning, followed by stronger Existing Home Sales countering former bond strength. Keep an eye out for rising rates.The June inflation reading was relatively inline with projected numbers, but core CPI, which ignores volatile energy and food prices dropped from 0.3 to 0.1. Existing Home Sales for June...
Jul 21, 2014
An absence of market moving data is leaving mortgage bonds unchanged. Rates are largely unchanged from end of last week. This week will be light where marketing moving reports are concerned, but look out for tomorrow's Consumer Price Index (CPI) and Friday's Durable Goods. Housing insights abound, however: Tuesday will see Existing Home Sales, Wednesday is where you'll find the latest Mortgage Market Index reading, and Thursday...
Jul 18, 2014
A relatively uneventful day following tense headlines for Russia and Ukraine and mortgage bond strength is now giving way to a weakening mortgage bond market. Too soon to tell, but keep an eye on rising rates. Mortgage rates are down from yesterday's strong bond market. Yesterday: Mortgage bonds were strong following an overnight rally caused by geopolitical tension in Russia and Ukraine, and bolstered by weak housing data. A...
Jul 17, 2014
Mortgage bonds are strong today following an overnight rally caused by geopolitical tension in Russia and Ukraine, and were bolstered by weak housing data. A comparatively strong Philly Fed report was not enough to push bonds down. Look out for lower mortgage rates. June Housing Starts dropped to an annual rate of 893 thousand, a 9.3 percent dip from May and well below the expected 1.02 million. This is the slowest crawl in 9 months, headed...
Jul 16, 2014
Mortgage bonds are sideways despite positive economic data out of the housing sector and Labor Department. The NAHB announced today that home builder confidence surged to its highest levels in six months, indicating sales conditions are considered good. Additionally, the NAHB predicts more prospective buyer traffic in coming months. Yesterday: Mortgage bonds were volatile in the morning after mixed economic news: Empire State...
Jul 16, 2014
Mortgage bonds are volatile this morning after mixed economic news: Empire State Manufacturing is at a four-year high and employment surged in June. Fed Chairwoman Janet Yellen's congressional testimony revealed the Fed will continue to support the U.S. economy, whose recovery is still only in the works. And early morning data showed weak retail sales for June. This mixed bag leaves mortgage rates at the mercy of ups and downs, with little...
Jul 14, 2014
Citigroup earnings came back stronger than expected and are pushing mortgage bonds down. Watch for mortgage rate increases. For market movers this week, look out for Fed Chair Yellen's congressional testimony tomorrow, as well as Empire State manufacturing and retail sales. Wednesday will see NAHB's housing market index, and Thursday is packed with Philly Fed business data, housing starts and bulding permits. Last week: The...
Jul 14, 2014
Mortgage bonds are strong this morning, continuing with this week's trend, and rates are down.Earlier this week: The Federal Reserve's meeting minutes reinforced plans to continue tapering off the multibillion dollar bond buying program (Quantitative Easing) that has been keeping mortgage rates low. Given economic recovery persists, the Fed plans to cut $15B in bond buying at its October meeting, as opposed the $10B it has decided to cut...
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