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Mortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near their current levels. This flow of logic raises a valid question: if bonds drive rates and if bonds say rates should be higher, then why aren't they higher already? The answer is fairly simple: mortgage lenders put out one rate sheet per day unless market conditions force them to change. Friday's rate sheets were arguably a bit worse than they should have been, based on bond levels. This allowed this morning's rate sheets to be a bit better than they otherwise might have been. Finally, bonds' deterioration throughout the day has been gradual enough
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Mortgage Rate Watch
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Mortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near... (read more) |
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Housing News
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Not only did the pace of home price increases quicken nationally during the first quarter of 2018, but the National Association of Realtors® (NAR) said those increases are felt in most metropolitan areas . The national median existing single-fami... (read more) |
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Rob Chrisman
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“Forward” lenders can’t ignore that 10,000 people a day in the U.S. turn 62. Of course, not every one owns a home, or has appreciation – but many do. And thus, plenty of lenders now have reverse mortgage departments. All FHA H... (read more) |
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MBS Commentary
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This week's economic calendar is generally on the quiet side with Retail Sales being the only upper-echelon report in terms of its potential impact on bonds. Apart from econ data, there are a fair amount of Fed speakers on tap, but the lineup... (read more) |
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MBS Commentary
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Low volume and lighter-than-normal liquidity left US bond markets more impressionable than normal today. Or perhaps it IS normal given that it's a data-free Monday in the middle of May and the day after Mother's Day. Those details would... (read more) |
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MBS Commentary
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I'm going to write at you from an analytical standpoint for a moment. Sorry, I just have to vent. Today was completely forgettable. In fact, the past 2 weeks have been pretty boring , with only a few exceptions. It's not unde... (read more) |
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consumerfinancemonitor.com
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