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Mortgage rates didn't move much today, despite moderate improvements in bond markets. Typically, stronger bond markets result in lower rates, but if anything, more lenders moved into slightly weaker territory. That has a lot to do with the fact that bonds were in weaker territory around the time most lenders put out the first rate sheets of the day. With bonds improving in the afternoon, several lenders have issued mid-day reprices, bringing their rate sheets more in line with the underlying market. In a broader sense, if we're not seeing widespread participation in mid-day reprices (and we're not), it's because underlying markets have yet to definitively overcome the slow, steady trend toward higher rates over the past few months. Tomorrow morning's Consumer Price Index brings the risk of
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Mortgage Rate Watch
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Mortgage rates didn't move much today, despite moderate improvements in bond markets. Typically, stronger bond markets result in lower rates, but if anything, more lenders moved into slightly weaker territory. That has a lot to do with the fact that ... (read more) |
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Housing News
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The Mortgage Bankers Association (MBA) says that information collected through its Builder Application Survey (BAS), shows mortgage applications for new home purchases climbed 23 percent on a non-seasonally adjusted basis from September to October. F... (read more) |
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Housing News
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Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their cash savings or their retirement accounts. Only half of American workers are confident that they hav... (read more) |
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Housing News
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To no one's surprise, measures of mortgage distress , including delinquencies, serious delinquencies, and foreclosures, were down again in August , with many metrics falling into fractional percentage territory. According to CoreLogic's Loan Performa... (read more) |
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MBS Commentary
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Bond markets are starting the day in fairly similar territory to Friday's latest levels for the 2nd day in a row. As I said yesterday, this is a precarious position because it leaves bonds right on the edge of an important technical ceiling .&... (read more) |
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MBS Commentary
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The past two sessions have been fairly nondescript in the bigger picture. Both have traversed almost exactly the same trading range. Both have exhibited very little direct attachment to news or events. And neither have offer... (read more) |
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