Author Archive

24
Apr

MBS RECAP: Strong Again, This Time After Morning Head-Fake

Posted To: MBS Commentary For the second straight day, MBS are coasting toward the close having held a narrow 4/32nds range for most of the day, having seen little, if any threat of major weakness. Today was a bit different than yesterday in that it started out in weaker territory. The weakness in Treasuries was [...]

24
Apr

Mortgage Rates Hold Steady Despite Stronger Data

Posted To: Mortgage Rate Watch Mortgage rates held were mostly sideways today. In cases where rate sheets differed from yesterday, the tendency was toward just slightly higher rates. The move was small enough that this would only affect the up-front cost component of most quotes, meaning the actual interest rate would be the same. The [...]

23
Apr

Cities where home prices are hitting new highs

While home values nationwide are still down 13.5% from their pre-housing bust peaks, prices in these major housing markets have recovered — and then some, according to Zillow.

23
Apr

MBS RECAP: Strong and Stable all Day

Posted To: MBS Commentary It was a refreshingly strong day for MBS and Treasuries. While the gains weren't immense by any standard, they were mostly present from the start of the day and never looked to be under dire threat. Weak economic data helped get things going in the morning, though it was a bit [...]

23
Apr

Mortgage Rates Erase 2 Days of Weakness

Posted To: Mortgage Rate Watch Mortgage rates moved lower at a healthy pace today, more than erasing the past two days of weakness, but leaving most of last Thursday’s weakness intact. Some of the gains were attributable to today’s much weaker than expected reading on New Home Sales earlier this morning. Downbeat economic data is [...]

22
Apr

MBS RECAP: Bond Markets Trickle Back to Positive Territory

Posted To: MBS Commentary The overarching caveat for any assessment of today's market activity is that the whole thing occurred in a relatively tight range. Sustained highs and lows were in a 4/32nds range in MBS and just over 2bps in 10yr yields. There was little, if any reaction to this morning's economic data or [...]

22
Apr

Mortgage Rates Drift Higher Again

Posted To: Mortgage Rate Watch Mortgage rates drifted higher for the second straight day despite a relatively flat day for underlying bond markets. Rates pushed into their 2-week highs yesterday, but are still well under the levels seen in the first week of April. Today’s weakness didn’t have an effect on contract rates, but it [...]

21
Apr

MBS RECAP: Bond Markets Weaker, but Staying Inside Last Week’s Range

Posted To: MBS Commentary The trading day was an insult to anyone attempting to pay any attention today. Considering it was the slowest day of the year (including early closes ahead of holidays), it didn't take much effort by traders to move prices. There are two ways to look at today's movements . On one [...]

21
Apr

Mortgage Rates Edge up to 2-Week Highs

Posted To: Mortgage Rate Watch Mortgage rates were just slightly higher today, extending a more forceful move higher last Thursday. Whereas markets reacted to deescalating tension in Ukraine and stronger domestic economic reports last week, the current week is off to a slow start. The underlying financial markets that affect mortgage rates didn’t see any [...]

19
Apr

Americans are back in love with real estate

According to Gallup, Americans think real estate is the best long-term investment. Unfortunately, they’re wrong.