Mortgage
Sep
NAR: Extend and Expand the Homebuyer Tax Credit
The $8,000 first-time home buyer tax credit is set to expire December 1st and NAR is calling Realtors® all over the United States to action to urge their congressional representatives to extend and expand this incentive. NAR President Charles McMillan and his staff have put together this video that features Realtors® urging leaders to take [...]
Sep
Market Snapshot
As we do, we will start the day by floating; however, unless mortgage prices increase at least 6/32 (.18 bp) from morning pricing we will likely lock and keep flat over the long weekend. Next week the bond market has to face supply and given the relentless (albeit flat for the past month) stock market and that [...]
Sep
Market Snapshot
Starting at 7:00 this morning; the weekly MBA mortgage applications. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2%. The Refinance Index decreased 3.1% from the previous week and the seasonally adjusted Purchase Index decreased 1.0% from a week ago. The only segment of the survey that posted an increase in activity [...]
Sep
Market Snapshot
Started a little better early this morning, the 10 yr at 7:30 up 3/32 at 3.39%; at 8:00 still up 3 clicks but by 8:30 some softness in very light trading, the 10 yr -3/32 and mortgages started -1/32. The early trade in the stock indexes pointed to another lower open; the DJIA at 8:30 [...]
Aug
Market Snapshot
Early this morning the rate markets were looking good, by 9:00 however the early gains in treasuries and mortgages were gone with both markets at 9:00 unchanged, the DJIA was off 61 points at 9:00, the 10 yr note unch and mortgages unchanged. At 9:30 the DJIA opened -75, the 10 yr note +4/32 and [...]
Aug
Market Snapshot
Starting off this morning at 7:00 AM the weekly MBA mortgage applications report; overall apps increased 7.5% last week, re-financings led the way, up 12.7% with purchase apps up 1.0%. Re-financings accounted for 56.5% of all apps last week according to the MBA. The four week moving average for the seasonally adjusted Market Index is [...]
Aug
Market Snapshot
Treasuries and mortgage markets opened weaker this morning after the selling on Friday that pushed interest rates up 13 basis points. No economic releases today but the rest of the week does have data to chew over. The main focus this week for treasury and mortgage markets is Treasury auctioning $109B of notes (2 yr, [...]
Aug
Market Snashot
Prior to 8:30 the 10 yr note traded -10/32 at 3.76%, mortgage prices were down 8/32 frm yesterday’s close; the stock indexes were up substantially (DJIA +104). At 8:30 economic data flipped markets around; July retail sales were weaker than expected, -0.1% overall and -0.6% when auto sales are extracted. Weekly jobless claims were expected [...]
Aug
Market Snapshot
Interest rate markets started a little better early this morning with the stock indexes hanging close to yesterday’s close. Today Treasury will auction $23B of 10 yr notes at 1:00. At 2:15 the FOMC meeting will conclude with their policy statement; no changes in interest rates are expected. Likely comments on the economy and re-affirming [...]
Aug
Market Snapshot
Rate markets started better this morning; the stock index trading was pointing to a lower open. Same thing; stocks weak, a little support for the bond and mortgage markets. No economic data today so watching stocks will be the focus. We are not looking for anything substantive for either market through the day. The benchmark [...]