Mortgage Rates Higher as Stock Market Awaits Earnings
After spending the majority of the session in a stable range yesterday, prices of mortgage backed securities lost their steadiness and ticked lower heading into the close forcing most lenders to re-price for the worse, increasing mortgage rates. The bond market sell off was a factor of the stock market moving higher as traders set up for better than expected Goldman Sachs earnings. This morning those expectations were confirmed as Goldman reported Q2 diluted earnings per share of $4.93, easily beating forecasts. Later in the week JP Morgan Chase, Bank of America, and Citi will report earnings, look for the market to buy the rumor, and sell the news…meaning earnings reports will likely be priced into the market before they are released which will make for some illogical price movements following earnings posts.
…(read more)
Go to Source
Related posts:
- Strong Earnings Pressure Mortgage Rates Higher Reports fr
- Stock Rally Forces Lenders To Recall Rate Sheets. Mortgage Rates Higher Mortgage b
- Mortgage Rates Benefit From Stock Selloff Many mortg
- Mortgage Rates End Week Higher Mortgage r
- Mortgage Rates Tick Higher After Stint at Summer Lows After hold
Related posts brought to you by Yet Another Related Posts Plugin.
Comments
Leave a Reply
