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Rate Roundup

Mortgage rates moved lower again today as stock markets tumbled.  The weakness in stocks was led by the European banking sector with several big names falling roughly 8 percent!  Although mortgage rates in the US are by no means a factor of European stock prices, nothing too big happens in global financial markets without its effects being […]

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Rate Roundup

Mortgage rates moved just slightly lower today, despite the fact that bond markets were suggesting a move in the other direction.  Mortgage rates are primarily determined by the prices of mortgage-backed-securities (MBS), which tend to behave a lot like 10yr Treasuries over time.  Both Treasuries and MBS lost ground today, meaning their prices moved lower and […]

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The Day Ahead

Technicals were looking good late last week But some risk that month-end trading was painting a rosy picture we’ll find out this week! Last week marked the first convincing attempt on the part of the bond market to break the uptrend that began on April 8th.  That trend carried 10yr yields from just under 1.7 […]

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Rate Roundup

Mortgage rates continued lower for a second straight day, ultimately making it back to levels not seen since last Tuesday.  Today’s improvements are partly an extension of yesterday’s reaction to the Fed Announcement, but also acknowledge the end of this week’s Treasury auction process.  This often involves a slight artificial pressure toward higher yields beginning on […]

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Rate Roundup

Mortgage rates remained in line with their highest levels in a month for the third straight day.  The average lender is now quoting conventional 30yr fixed rates of 3.75%  on top tier scenarios.  Earlier this month, stronger lenders were as low as 3.5%, and the average had been 3.625% until late last week. Unlike yesterday, […]

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Rate Roundup

Mortgage rates didn’t move much, if at all, today.  That’s not exactly what we want to see right now considering they’re as high as they’ve been since the 2nd half of March.  The average lender has now moved up from quoting conventional 30yr fixed rates of 3.625% to 3.75%  on top tier scenarios.  Earlier this […]

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Day Ahead

Lots of economic data on tap including some big names Treasury auction cycle (2, 5, 7yr) FOMC Announcement Wednesday (Bank of Japan Thursday) Month-End on Friday Bonds will be forced to take a stand Bond markets rarely encounter weeks as pivotal as the one that lies before us.  There’s something for everyone, no matter your […]

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Day Ahead – Gloom and Doom Time?

past few days = negative technical signals galore for bonds 3rd consecutive week of higher lows and higher highs for rates momentum indicators suggest big risk of several negative weeks if Oil/stocks tank, it  won’t necessarily save bonds If you’ve checked in at all over the past few days, you’re well aware that bond markets […]

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Market Roundup

Mortgage rates picked right up where they left off yesterday: pushing into the highest levels of the month.  This week has seen the fastest rise in rates since early March.  If we lose any more ground tomorrow, it could end up being the worst week since early November 2015.  Of course with the average rate still […]

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Mortgage Rates Hold Steady

Mortgage Rates held steady today, leaving them just off the lowest levels in nearly three years.  Market conditions were somewhat volatile surrounding a weekend meeting in Doha regarding potential changes in oil output.  Oil prices fell precipitously to begin the week as producers failed to reach an agreement. What does that have to do with […]

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Mortgages Outperform as Treasuries Slide Sideways at Weaker Levels

Treasuries were under pressure from a correction in European markets (stocks and bond yields higher) overnight MBS and Treasuries opened noticeably weaker.  MBS ticked painstakingly higher while Treasuries held flat Data was overlooked and end-of-week tradeflows set the tone early In general, it was still a good day for bonds, with closing levels being the […]

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Home Prices Continue to Rise, with San Francisco Leading the Way

The S&P/Case-Shiller 20-City composite index showed that home prices rose 5.7% in January in line with expectations. Zillow chief economist Svenja Gudell noted that lower-income buyers are having a harder time with the limited inventory. And despite limited economic growth, job opportunities are rising which should keep the housing market stable and healthy. The top […]

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Day Ahead

Last week introduced the possibility that March’s bearish trend was reversing yesterday’s weakness failed to confirm that reversal It’s still possible, but there’s slightly more reason to be cautious now The 8:20am CME pit open was a focal point for yesterday’s morning volatility, letting us know that tradeflow considerations were setting the tone.  In other words, […]

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Day Ahead

No econ data on tap apart from Consumer Sentiment Oil surging, how much does it matter? Bonds trying to confirm technical bounce, but not quite there yet After a rollicking week of data, events, and market movement, bond markets hit a bit of an information void today, and will be forced to find their own […]

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