Author Archive

31
Jul

MBS RECAP: Massive Sell-Off in Stocks but no Rally in Bonds

Posted To: MBS Commentary It's not often you'll see the S&P down over 30 points with less than 1bp of day-over-day movement in 10yr yields, but that's where we're heading out today. Things might have been worse for Treasuries, however, had it not been for the stock selling, which prompted some asset reallocation ahead of [...]

31
Jul

Mortgage Rates Barely Higher, More Volatility Ahead

Posted To: Mortgage Rate Watch Mortgage rates started the day in fairly rough shape with most lenders offering noticeably higher rates vs yesterday. As stock markets slid into the afternoon, the bond markets that underlie mortgage rates improved. Most lenders put out better rate sheets at some point in the day. In most cases this [...]

30
Jul

MBS RECAP: FOMC Announcement Wholly Overshadowed by GDP

Posted To: MBS Commentary Tonight's theme: "not many." It's not many times that GDP will crack 4% after being down more than 2% in the previous quarter, but it did today. But that's because it's not many times that the US economy will grow at 3.5% in one quarter and then drop to -2.9% in [...]

30
Jul

Mortgage Rates Highest in More Than a Month After GDP

Posted To: Mortgage Rate Watch For weeks, we’ve discussed the prospects for increased volatility centered on today’s economic calendar. The chances of a bigger move were much higher going into today’s GDP data, and a bigger move is exactly what we got. Unfortunately, it was in an unfriendly direction. GDP was significantly stronger than expected, [...]

29
Jul

MBS RECAP: Bonds Bounce Back From Mid-Day Swoon

Posted To: MBS Commentary Markets were more active today, offering a nice little warm up for what promises to be an even more active day tomorrow. The movement came in waves, beginning with a strong bond market rally at the start of the European trading session. US Treasuries came along for the ride, resulting in [...]

29
Jul

Mortgage Rates Slightly Lower; Volatility Ahead

Posted To: Mortgage Rate Watch Mortgage rates were slightly lower today, holding inside a low and narrow range that’s been intact for nearly 2 weeks. The movement was small enough that some lenders are unchanged compared to yesterday, but they’re the exception. The most prevalently-quoted conforming 30yr fixed rate for flawless scenarios is still a [...]

29
Jul

Home price increases continue at slower pace

Prices are up at 9.3% annual rate in May, according to S&P/Case-Shiller home price index, marking the sixth straight month the rate of increase has slowed.

28
Jul

MBS RECAP: Some Weakness and a Few Reprices, but Mostly Holding Ground

Posted To: MBS Commentary More due to timing and coincidence than anything, we got a few negative reprices this afternoon. Shortly thereafter, prices moved right back mid-point of today's trading range and never left . That said, things were a bit weaker in Treasuries. A small amount of weakness was intact after the overnight session, [...]

28
Jul

Mortgage Rates Unchanged to Start Important Week

Posted To: Mortgage Rate Watch Mortgage rates didn’t move much to start the week, with a nearly equal number of lenders moving both higher and lower. On average, rates were just barely higher. Even then, the actual rates being quoted are the the same today versus Friday with the only differences seen in the form [...]

28
Jul

Zillow buys Trulia for $3.5 billion

The two leading real estate websites combine.