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Mortgage rates were sideways to slightly higher today, depending on the lender. With the exception of the past two days, this leaves us at the best levels in more than 3 weeks. In general, that move was made possible by financial drama in Turkey, but caveats abound. It's taken a massive amount of pain in Turkish markets/currency to result in a fairly modest move for US interest rates in the bigger picture. Moreover, US rates continue paying attention to multiple sources of inspiration. Turkey was just one among many in that regard, and even then, only when Turkish market movement was its most extreme. More so than yesterday, today brought some hope that the worst is over for Turkey. While that's good for Turkey, it's not good for rates in the US, all other things being equal. That said, it
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Mortgage Rate Watch
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Mortgage rates were sideways to slightly higher today, depending on the lender. With the exception of the past two days, this leaves us at the best levels in more than 3 weeks. In general, that move was made possible by financial drama in Turkey, but... (read more) |
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MBS Commentary
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Bonds began the day in moderately weaker territory as Turkish tensions eased overnight. That certainly wasn't the only game in town as far as market movers were concerned though! On several occasions throughout the day, US bond markets co... (read more) |
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Rob Chrisman
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A Zen master visiting NYC approaches a hot dog vendor and says, "Make me one with everything." The hot dog vendor fixes a hot dog and hands it to the Zen master, who pays with a $20 bill. The vendor puts the bill in the cash box and closes it. "Excus... (read more) |
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Housing News
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The effects of Hurricane Irma continue to be felt in the Southeast, with Florida the only state to report an increase in its delinquency rate in May. The rate in the state was up 1 percentage point compared to May 2017 and gave Florida the third high... (read more) |
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MBS Commentary
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Turkish Lira bounced in the overnight session--not in any epic fashion, but enough to result in a bit of spillover for stocks/bonds. 10yr yields rose as high as 2.9022 before cooling back down. Notably, yields fell even as Lira maintained... (read more) |
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MBS Commentary
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Another day, another chance for market watchers and pundits of all types to make mountains out of Turkish molehills. Yes, the financial crisis in Turkey is important and it's still a thing , but no... it's not the most important market mover f... (read more) |
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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