Author Archive

29
Aug

MBS RECAP: Bond Markets Hold Narrow Range Overall; Some Month-End Volatility Around Treasury Close

Posted To: MBS Commentary Overnight trading was uneventful for bond markets and made for a just slightly weaker open for both Treasuries and MBS. Economic data was completely and utterly ignored. It wasn't until headlines out of the UK concerning a "severe" terrorism alert sent UK bond yields sharply lower that US bond markets finally [...]

29
Aug

Mortgage Rates Unchanged Near 2014 Lows Ahead of 3-Day Weekend

Posted To: Mortgage Rate Watch Mortgage rates barely budged today. A few lenders were a bit higher than yesterday. A few more were a bit lower, but most hadn’t moved enough to be considered anything more than unchanged. Most borrowers would see the exact same quote today compared to yesterday. 4.125% remains the most prevalently [...]

28
Aug

MBS RECAP: Same Old Story: Minor Volatility and Modest Euro-Driven Gains

Posted To: MBS Commentary In yesterday's recap, we discussed the phenomenon whereby most of the market movement has been happening overnight during these Euro-centric times, with the US trading hours seeing comparatively less volatility. Same old story today, but more impressive! Bond markets managed to shrug off THREE stronger-than-expected economic reports, including a revision to [...]

28
Aug

Mortgage Rates Fall For Sixth Straight Day

Posted To: Mortgage Rate Watch Mortgage rates fell modestly for an impressive sixth straight day today. Yet again, we’re seeing little attention paid to the events in the US that NORMALLY influence interest rates. Case in point, stronger economic data typically pushes rates higher, and three out of three economic reports were stronger than expected [...]

27
Aug

MBS RECAP: Yet Again, Treasuries Inspired by Europe and MBS Underperform

Posted To: MBS Commentary Both MBS and Treasuries started the day in good shape as a bout of universally downbeat data washed over the Eurozone. Speculation for some measure of central bank action at next week's meeting (European Central Bank, to be clear) also helped. German Bunds ended up trading briefly under 0.90%. As the [...]

27
Aug

Mortgage Rates Closing in on 2014 Lows

Posted To: Mortgage Rate Watch Mortgage rates fell by an almost imperceptible amount today. Some lenders were actually unchanged or slightly higher. The actual NOTE rates quoted today would be identical to yesterday, with the only differences being seen in the form of modestly lower closing costs. This means that 4.125% stays intact as the [...]

26
Aug

Housing Investors Eye Remote Calif. Markets, Property Flipping

Investors are moving their focus into California’s less expensive, more rural areas, according to a California Association of Realtors survey.

26
Aug

MBS RECAP: The Flatness Continues; MBS Perfectly Unchanged After Only Modest Volatility

Posted To: MBS Commentary The last week of Summer continues to be the last week of Summer as far as markets are concerned. Email auto-responders are working overtime, parents are back-to-school shopping, and market-watchers have yet another opportunity to remember that Wall Street–despite the alluring idea of "black box trading"–couldn't run without human power. As [...]

26
Aug

How Long Will Low, Flat Mortgage Rates Last?

Posted To: Mortgage Rate Watch So many questions have been raised by the surprising state of affairs in the world of mortgage rates this year. Why did rates move in the opposite direction from broad-based expectations to start the year? Why have rates continued to hold their low ground in such a stable way? Why [...]

26
Aug

Home prices rising, but slowly

Home prices moderate, up 6.2% year-over-year.