Mortgage Interest Rates Flat Today but Still Amazing
MBS still strong even after Fed stepped away from the MBS purchase program.. simply awesome.
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Another See Saw Day for Mortgage Rates
The first release of lender rate sheets was interesting. MBS prices opened basically unchanged vs. closing levels yesterday, but loan pricing was much worse. This makes sense because lenders were inundated with lock request yesterday afternoon and needed time to recover, so they made pricing worse in an effort to slow lock request activity. This was pretty frustrating to any loan officer who missed the boat on locking their loans yesterday, but MBS prices were rallying and the day wasn't over. In fact, we weren't even halfway through the morning when several lenders repriced for the better. This brought mortgage rates down a few more basis points. 4.375% is once again an attainable mortgage rate after reprices for the better. ...
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Employment and Manufacturing Push Mortgage Interest Rates up a Bit
830AM data has been released. Both jobless claims and durable goods orders were generally better than expected but not far from consensus estimates. Stocks rallied and rates moved higher after the releases. Here is a recap of the data...
Interest rates rose across the curve. The 2 year note yield ticked up 2bps to 0.665% and the benchmark 10 year TSY note yield climbed 3bps to 3.092%.
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Mortgage Rates Stuck in a Very Narrow Range.. Essentially Flat
S&Ps opened lower and traded higher before closing near the same level they opened yesterday. This tells us the stock market is indecisive after S&Ps broke 200 day moving average. Benchmark yields moved lower across the curve yesterday. The 10yr note was the best performer, falling 4.4bps to 3.264% (+12 at 101-31).
The FN 4.0 is currently UNCH at 99-23. The FN 4.5 is +0-01 at 102-18 (102.563). The secondary market current coupon is UNCH at 4.0651%.
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Mortgage Interest Rates Cool Off From Yesterdays Late Heating Up
Expect a slight improvement in rates today, you may not see much in the way of rate sheet influential. We're trading in a range of 4.75-5% for tier one borrowers seeking a 30 year fixed. Rates higher for longer term locks.
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Big Day on the Dow Pushes Mortgage Interest Rates Up
Rates continue to increase from our low's of several weeks ago. As the economy improves and inflationary pressures set in, expect more rate increases to come. Though volatility will confuse the rate shopper it is my opinion that we have bottomed and can expect to see further rate increases. My recommendation is to lock and stay put.
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Up Dow, Up Mortgage Interest Rates
10 year treasury yields shows momentum is upward in treasuries taking mortgage rates with them.
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Mortgage Interest Rates Cool Off With Dip in Building Materials Spending
The JULY FN 4.5 is +0-08 at 102-12 (102.375). The secondary market current coupon is 4.09%. Here are yield spreads: +82.8bps/10yrTSY yield and +73.6bps/10yrIRS.
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Euro Weakness Keeps Rates Low
MBS's looking favorable this morning. Should show up on our rates sheets...
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Non Farm Payrolls Help Rates
Stocks are selling and bonds are rallying.
S&Ps currently -24 at 1080....
The descending triangle chart formation I talked about on Wednesday has played out as the pattern suggests...with continuation to the downside. READ MORE
10s +28 at 101-30 yielding 3.268%...
The FN 4.5 is +0-08 at 102-10. The secondary market current coupon is 5.2bps lower at 4.115%. Yield spreads are wider.
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