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Mortgage rates finally caught their breath today after rising quickly in the second half of last week. Specifically, the average lender managed to avoid getting any worse. Considering the past few business days, that's a victory. But is it as much of a victory as the underlying bond market suggests? Bonds dictate mortgage rates. They are the raw ingredients that lenders use to determine mortgage quotes. Whereas bonds change in value hundreds to thousands of times a day, lenders only update their published rates once a day. From there, if a certain threshold of bond market movement is met, lenders can issue new rate sheets, but this may happen 1 or 2 times a day at best, outside of extreme circumstances. With all of the above in mind, the bond market suggests rates should be lower today. 10yr
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Mortgage Rate Watch
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Mortgage rates finally caught their breath today after rising quickly in the second half of last week. Specifically, the average lender managed to avoid getting any worse. Considering the past few business days, that's a victory. But is it as much of... (read more) |
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MBS Commentary
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As we watched bond markets sell-off abruptly last week, the best case scenario would have been that the selling was overdone and that we would soon be settling-in to the wider sideways range we expected to see in early March.
Why did we expect a w... (read more) |
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Rob Chrisman
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As the nation watches the terrible tornado-related events and casualties in Alabama, and sympathizes with those impacted, the rebuilding has already commenced. Constructing or repairing a house hasn’t changed much in decades, but there is some ... (read more) |
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MBS Commentary
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2019 had been (and perhaps continues to be) dominated by an increasingly narrow range. To appreciate just how narrow things have been, consider the month of February had the tightest trading range since 1979.
We'd been tracking the fairly li... (read more) |
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Housing News
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The Census Bureau, still playing catch-up from the partial government shutdown , has released its monthly construction spending report for December 2018. Expenditures for all types of construction were at a seasonally adjusted annual rate of $1.293 t... (read more) |
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MBS Commentary
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Heading into today, if you were hoping to see rates move lower, it would have made sense to hope for economic data to come in weaker than expected. There is one scenario , however, where weaker data arrives in the middle of a multi-day bond ma... (read more) |
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consumerfinancemonitor.com
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