At about 11am yesterday, prices of the Mortgage-Backed-Securities most closely tied to rate sheets had bottomed out and began to climb, reaching highs of the day near closing time. That momentum carried through this morning and by noon today, prices were high enough to net loan pricing improvements versus yesterday’s and this morning’s rate sheets….
Category Archives: Latest Interest Rates
Mortgage Rates: Good News, Bad News
Let’s play good news, bad news. Bad news first! THE BAD NEWS : Rate watchers were sweating bullets up until about 2pm today because benchmark Treasury prices hadn’t hit a ceiling and MBS prices hadn’t found a floor. The entire bond market, mortgage rates included, repriced for the worse. Our float boats were not only…
Mortgage Rates Rally on Weak Economic Data
Mortgage rates began the week on a bad note but reversed course today following a weak read on the housing sector. The National Association of Realtors this morning released Existing Home Sales data for July. This data totals the number of previously owned homes in which a sale closed during the prior month. Since the…
Mortgage Rates Mixed After Scattered Lender Reprices
Much like yesterday, mortgage rates rallied early this morning following weak housing data. Much like yesterday, mortgage rates came under pressure in the lunch hours today as mortgage-backed securities prices fell from intraday highs. Much UNLIKE yesterday, mortgage rates never recovered from that weakness heading into the market close today. The bad news isn't all…
Mortgage Rates Marginally Worse After Jobless Claims Data
Poor reads on housing and manufacturing helped mortgage rates move back to historic lows yesterday. However as the day progressed mortgage-backed securities prices fell from their highs and some lenders were forced to reprice for the worse. Rate sheet recalls were not broad based though. We had only one economic report this morning: Weekly Jobless…
Mortgage Rates End Losing Streak After Reprices for Better
Mortgage rates extended their losing streak to three (3) days yesterday. The losses were brought on by a rally in the stock market. Mortgage-backed securities price moved steadily lower throughout the day before closing at their session lows. Most lenders ended up repricing for the worse as a result. Two economic data releases moved mortgage…
Mortgage Rates React to Data! Potentially Choppy Waters Ahead
Mortgage Rates on Losing Streak. Near Term Bottom Likely Hit
Mortgage rates are on a bit of a losing streak! Spurred on by a dramatic decline in benchmark debt yields, mortgage rates touched new lows last week. Actually I don't know if I should say mortgage rates hit new lows. Instead, maybe I should say "more lenders were offering record low mortgage rates last week"….
Lenders Reprice For The Better. Rates At Record Lows Again.
Mortgage rates were priced at the most aggressive levels of our era on Wednesday following a steady stream of disappointing housing data that sent stock indexes lower. Rates did back up a few basis points yesterday for what seemed like no reason besides rally exhaustion, but we got those losses back today… Consumer borrowing costs…
Mortgage Rates Improve Again. What Will Move Borrowing Costs in the Week Ahead?
Mortgage rates hit the lowest levels of a lifetime last week. The most aggressive loan pricing was seen on Wednesday following a string of weaker than expected housing data. While mortgage rates did rise a few basis points on Thursday, consumer borrowing costs generally recovered on Friday. After lenders repriced for the better, mortgage rates…