Author Archive

30
Oct

MBS RECAP: Super Flat Day… Not at all What You’d Expect

Posted To: MBS Commentary If the official end of QE is to be an inspirational moment for bond markets in the bigger picture, you wouldn't know it based on how trading has gone since then. A case is rapidly building for the news being fully priced in ahead of time and actual whipsaw effect happening [...]

30
Oct

Mortgage Rates Recover Slightly; Holding Near 4 Percent

Posted To: Mortgage Rate Watch Mortgage rates pulled back to hold near 4 percent after rising to the highest levels in 3 weeks. After yesterday’s Fed announcement, the most common rate quotes were at risk of edging up to 4.125% for top tier borrowers. While some lenders are still in that range today, the improvement [...]

29
Oct

MBS RECAP: Fed Reads From Known Script, but With Unexpected Gusto; Bonds Don’t Care

Posted To: MBS Commentary Nine times out of ten, any conversation about trading volume in bond markets is pointless and dangerous when it comes to considering potential mortgage rate movement. Reason being: some people assume that low volume means a move is less valid and then potentially feel like locking into weakness isn't a dire [...]

29
Oct

Mortgage Rates at 3-Week Highs After Fed Ends QE

Posted To: Mortgage Rate Watch Mortgage rates rose to the highest level in 3 weeks after today’s Fed Announcement. The move was a two-part process with initial rate sheets being weaker in the morning and mid-day reprices (lenders raising rates) following the Fed. The pace of the movement was moderate, leaving 4.0% intact as the [...]

28
Oct

MBS RECAP: Bond Markets Nervous Ahead of Tomorrow’s FOMC

Posted To: MBS Commentary Despite one solid attempt to bounce back to unchanged levels this morning, bond markets spent the day in weaker territory. For most of the day this wasn't too offensive as the weakness was fairly well-contained. As the close approached, an ascending trend in yields became apparent. Treasuries and MBS both ultimately [...]

28
Oct

Mortgage Rates Stay Sideways Ahead of Important Fed Announcement

Posted To: Mortgage Rate Watch Mortgage rates were almost universally sideways today with very few lenders changing rate sheets noticeably from yesterday. As such, the most prevalent conforming 30yr fixed rate quote remains 4.0% for top tier borrowers. It continues to be the case that paying points upfront in exchange for a lower rate may [...]

27
Oct

Buy your own ghost town. Starting bid: $800,000

Ever dream of owning your own ghost town? On October 28, just in time for Halloween, you’ll have your chance. That’s when Johnsonville Village in Connecticut will be auctioned off. Starting bid: $800,000.

27
Oct

MBS RECAP: Uneventful Trading Day Leaves Bonds Slightly Stronger

Posted To: MBS Commentary The week got off to a woefully uneventful start. Like many Mondays in terms of trading activity, this one may as well not have happened. The only somewhat notable achievement is that Treasuries managed to battle back from small overnight losses to go on to a permanently 'green' day. MBS got [...]

27
Oct

Mortgage Rates Holding Near 4 Percent

Posted To: Mortgage Rate Watch Mortgage rates were almost perfectly unchanged over the weekend. Most lenders are still right in line with Friday’s most prevalently-quoted conforming 30yr fixed rate of 4.0% for top tier borrowers. That said, most of those rate sheets also still have reasonable costs for borrowers interested in paying more upfront for [...]

24
Oct

Mortgage Rates Mildly Lower; Volatile Week Ahead

Posted To: Mortgage Rate Watch Mortgage rates caught a break today and were able to ease just slightly lower heading into the weekend. This is somewhat refreshing because yesterday’s bigger move higher was the kind of thing that historically results in further upward pressure. The gains weren’t quite enough to get the average top tier [...]