Wed, Oct 26 2016, 5:41 PM
Bonds were stronger during Asian market hours this morning, but things changed quickly as European trading got underway. Relative to Treasuries, Euro...
Wed, Oct 26 2016, 4:37 PM
Mortgage Rates didn't move much today, with most lenders just slightly higher than yesterday. This keeps us right in line with the highest levels in m...
Tue, Oct 25 2016, 9:37 AM
At the risk of repeating a common refrain, rates have been rising gradually since July and in a more volatile way since early September. I've chalked...
Tue, Oct 25 2016, 4:58 PM
On the surface, today was a boring day for bond markets. 10yr yields ended less than a bp lower than yesterday's close and Fannie 3.0 MBS were comple...
Tue, Oct 25 2016, 4:05 PM
Mortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday's latest offerings. De...
Mon, Oct 24 2016, 9:33 AM
Rates and yields have been trending steadily higher since hitting all-time lows in early July. Those lows were most immediately attributable to the B...
Mon, Oct 24 2016, 5:34 PM
Bond markets ended the day in moderately weaker territory today, despite starting out in the Green. What happened?
Today was refreshingly straight...
Mon, Oct 24 2016, 4:43 PM
Mortgage Rates bounced slightly higher for the first time in more than a week today, thus remaining in limbo near the highest levels in more than 4 mo...
Fri, Oct 21 2016, 10:04 AM
As can be seen in this morning's chart (and remembered in the hearts and minds of loan originators who closely follow market movements), October has b...
Fri, Oct 21 2016, 4:38 PM
Bonds began the day roughly unchanged and rallied in the morning hours along with European bond markets. Most of the volume was in before 9:45 and th...
Fri, Oct 21 2016, 3:23 PM
Mortgage Rates held steady today, continuing a much-needed break from the move higher that dominated the first 2 weeks of October. While we've only se...
Thu, Oct 20 2016, 9:59 AM
The Fed is the ECB President Mario Draghi's childhood hero (with 'childhood' being a metaphorical term for the infancy of the ECB's response to the 20...
Thu, Oct 20 2016, 4:44 PM
Today was pretty anticlimactic . Most of my analysis is already available in the Day Ahead. If you're not the link-clicking type, it basically says...
Thu, Oct 20 2016, 3:59 PM
Mortgage Rates were lower again today, after the European Central Bank (ECB) avoided sending any scary signals about tapering its asset purchases. Muc...
Wed, Oct 19 2016, 9:45 AM
After worldwide rates hit all-time lows on the heels of Brexit, they consolidated in a narrow, sideways pattern until someone came up with the next pl...
Wed, Oct 19 2016, 4:56 PM
Bond markets spent yet another day consolidating inside their recent range. In terms of 10yr yields that means rates have fallen from last Friday's h...
Wed, Oct 19 2016, 3:01 PM
Mortgage Rates were steady to slightly lower today, which keeps them fairly close to 4-month highs. 3.625% continues to be the most prevalently-quoted...
Tue, Oct 18 2016, 9:47 AM
As we approach Thursday's European Central Bank (ECB) announcement and press conference, we are seeing a clearer display of underlying market motivat...
Tue, Oct 18 2016, 5:19 PM
If you've been following along with updates on MBS Live , today's recap will be old hat. Long story short, bonds have been selling off in October an...
Tue, Oct 18 2016, 4:23 PM
Mortgage Rates moved slightly lower today, depending on the lender. During the morning hours, rates were roughly unchanged and thus remained in line w...
Mon, Oct 17 2016, 9:43 AM
The European Central Bank (ECB) has been one of the driving forces behind ultra-low rates around the world for several years, thanks to an aggressive...
Mon, Oct 17 2016, 5:33 PM
It could be a volatile week for bond markets, and that volatility could kick the ongoing negative trend into higher gear. It would have taken quite ...
Mon, Oct 17 2016, 4:36 PM
Mortgage Rates remained near 4-month highs today, despite moderate improvement in underlying bond markets. The problem for most lenders was the timing...
Fri, Oct 14 2016, 10:01 AM
Never forget, even in a perpetual long-term downtrend--even in a downtrend with more room to run in the bigger picture--there will be corrections towa...
Fri, Oct 14 2016, 5:52 PM
Ahhh, the good old mystery move! There are so many potential contributors to this afternoon's sharp sell-off in bonds that it scarcely makes sense to...
Fri, Oct 14 2016, 4:46 PM
Mortgage Rates remained under pressure today, moving right back to the highest levels in more than 4 months after only one day of recovery. This might...
Thu, Oct 13 2016, 9:12 AM
Even though yields have made new intraday highs on 9 out of the last 9 days, we may have seen some early clues about the selling trend leveling-off....
Thu, Oct 13 2016, 5:04 PM
Corrections and consolidations are a natural part of market movements. It's uncommon for losing streaks to last more than 8 straight days without rep...
Thu, Oct 13 2016, 4:13 PM
Mortgage Rates managed to make modest gains today, moving just slightly lower for the average lender. That's a welcome development after 10 straight d...
Wed, Oct 12 2016, 9:12 AM
Today brings the release of the MINUTES from the most recent FOMC meeting. This is distinct event from the ANNOUNCEMENT that happened about 3 weeks...
Wed, Oct 12 2016, 5:28 PM
No one was really sure what the Fed Minutes possibly could have said to surprise markets, but that didn't stop traders from pricing-in a bit of defe...
Wed, Oct 12 2016, 4:33 PM
In and of itself, today wasn't too bad of a day. Mortgage Rates were only slightly higher, and were generally unfazed by the release of the Minutes fr...
Tue, Oct 11 2016, 9:21 AM
Bond markets offered a glimmer or two of hope last week as yields looked to be leveling off heading into Columbus Day weekend. In other words, 10yr...
Tue, Oct 11 2016, 4:46 PM
Bond markets were weaker out of the gate this morning as the US got caught up with the rest of the world after a "risk-on" Monday session for most o...
Tue, Oct 11 2016, 3:59 PM
Mortgage Rates were higher again today, marking the 9th straight day without any improvement. 3.625% is quickly becoming the most prevalent convention...
Fri, Oct 7 2016, 9:56 AM
The rest of the day will be all about bond markets sorting out their reaction to this morning's decent NFP numbers. Payrolls hit 156k in September, s...
Fri, Oct 7 2016, 4:07 PM
Let's clear this up at the outset: when we talk about "volatility" these days, it's not the same volatility that presided over some of the multi-poi...
Fri, Oct 7 2016, 2:46 PM
Mortgage Rates were modestly higher today, despite a weaker-than-expected Employment Situation (aka NFP, nonfarm payrolls, or simply "the jobs report"...
Thu, Oct 6 2016, 10:06 AM
Things continue to be serious for bond markets (MBS Live members already have their first alert on the day--a rarity before 10am--as well as a gener...
Thu, Oct 6 2016, 5:33 PM
Bond markets were already fairly close to the important technical levels near 1.75% (10yr yields) earlier this morning, and they continued getting pu...
Thu, Oct 6 2016, 4:11 PM
Mortgage Rates didn't move much today compared to yesterday's latest levels, but that's the only way to view them as being 'unchanged.' Even so, as is...
Wed, Oct 5 2016, 9:25 AM
You might remember some seemingly dramatic headlines from early September when rates attempted their first big break of the dominant range (e.g. "Yes ...
Wed, Oct 5 2016, 4:42 PM
It was a pretty straightforward trading day considering what's at stake in the bigger picture. Bonds were under slight pressure overnight, but were...
Wed, Oct 5 2016, 3:43 PM
Mortgage Rates were higher again today, following much stronger-than-expected economic data. A key index that tracks the health of the services sector...
Tue, Oct 4 2016, 9:55 AM
There are no significant economic reports or scheduled events on tap for today. This will give us an opportunity to feel out the new trading ideas,...
Tue, Oct 4 2016, 3:51 PM
Bonds tanked today and at first glance, there weren't any great explanations as to why. But headlines quickly surfaced regarding the European Central...
Tue, Oct 4 2016, 2:54 PM
Mortgage Rates moved significantly higher today, relative to recently narrow ranges. It's enough to bring the most prevalent conventional 30yr fixed q...
Mon, Oct 3 2016, 9:15 AM
As October begins, bond markets are pretty close to trading levels seen at the end of August--close enough to call September a "flat month" anyway. ...
Mon, Oct 3 2016, 5:41 PM
Almost like clockwork, bond markets weakened JUST enough to cast doubt on their commitment to reentering the sub-1.60% range. This follows a week of ...
Mon, Oct 3 2016, 3:47 PM
Mortgage Rates were higher today, with most lenders at their highest levels in nearly 2 weeks. The bond markets that underlie mortgage rate movement r...
