Tue, Dec 12 2017, 4:59 PM
It was a pretty straightforward day for bond markets, which CONTINUE to operate in an exceptionally narrow, sideways range. That's been the case ...
Tue, Dec 12 2017, 4:30 PM
Mortgage rates moved modestly higher for the 4th straight business day today. Last Wednesday saw the best levels in a month with some lenders in the b...
Tue, Dec 12 2017, 8:37 AM
I wish I could tell you that today was destined to be an exciting opportunity for bonds to embark on some sort of epic journey (or at least to defin...
Mon, Dec 11 2017, 5:33 PM
Bond markets had an uneventful overnight session until just before the start of domestic trading hours. Most market participants were willing to chal...
Mon, Dec 11 2017, 5:13 PM
Mortgage rates moved modestly higher for the 3rd straight business day, making for a moderate correction from the last Wednesday's 1-month lows. In th...
Mon, Dec 11 2017, 9:16 AM
There are 3 to 4 big players this week when it comes to potential market movers . In no particular order, these include Treasury auctions, central b...
Fri, Dec 8 2017, 5:40 PM
When it comes to bond markets reacting to economic data these days, don't expect too much and you won't be disappointed. Heading into today's NFP r...
Fri, Dec 8 2017, 2:28 PM
Mortgage rates moved modestly higher today, although some lenders were right in line with yesterday's levels (especially those who raised rates in res...
Fri, Dec 8 2017, 8:32 AM
Bond markets haven't been at all keen to react in a major way to economic data. Tax reform and other fiscal issues have been center stage for several...
Thu, Dec 7 2017, 4:52 PM
Bond markets began the day roughly unchanged compared to yesterday afternoon's weaker closing levels. From there, Treasuries rallied in concert wit...
Thu, Dec 7 2017, 4:17 PM
Mortgage rates were best described as " unchanged " today, although that may not be the case tomorrow. The afternoon hours saw bond markets (which dic...
Thu, Dec 7 2017, 9:23 AM
Both yesterday and the day before, bonds closed in stronger territory than the previous day's close. That's the first time that's happened since earl...
Wed, Dec 6 2017, 5:26 PM
For the purposes of this recap, "winning streak" would be defined as a day where Fannie 3.5 MBS or 10yr Treasury yields closed at better levels than t...
Wed, Dec 6 2017, 4:48 PM
Mortgage rates moved noticeably lower today as bond market improved for the 2nd day in a row--the first time that's happened since early November (whe...
Wed, Dec 6 2017, 9:43 AM
Consolidating, biding time, coiling, storing energy, etc... Over the years on MBS Live and elsewhere, you may have come into several iterations of th...
Tue, Dec 5 2017, 5:35 PM
Much like yesterday's session, today saw bond markets begin the day in slightly weaker territory only to rally into slightly stronger territory by...
Tue, Dec 5 2017, 4:58 PM
Mortgage rates were more intuitive today with most lenders keeping things unchanged at first. This matched the movement in underlying bond markets, wh...
Tue, Dec 5 2017, 9:20 AM
A sideways range with higher lows and lower highs...
The risk of p eriodic volatility regardless of economic data's suggestion...
A certain p...
Mon, Dec 4 2017, 5:01 PM
Friday evening brought the passage of the Senate's version of the tax bill. It now moves to a joint session for "reconciliation" (Senate+House trying...
Mon, Dec 4 2017, 4:17 PM
Mortgage rates were distinctly mixed today, with some lenders clearly moving higher while others were effectively unchanged. The deciding factor is bo...
Mon, Dec 4 2017, 9:48 AM
As expected, the Senate passed its version of the tax bill on Friday evening (the passage being the expected part, not the timing). Also as expected,...
Fri, Dec 1 2017, 7:49 PM
After a day of diffuse inspiration from several competing market movers yesterday, we ended up with far more focus today. That wasn't readily apparen...
Fri, Dec 1 2017, 3:33 PM
Mortgage rates were at their highest levels in roughly 1 month as of yesterday afternoon. That ran counter to many of the mortgage rate news stories t...
Fri, Dec 1 2017, 9:20 AM
The extent to which the tax bill is "inevitable" remains to be seen, but at the moment, financial markets are still treating it as "highly likely"--ju...
Thu, Nov 30 2017, 4:55 PM
As discussed in detail in the daily video on MBS Live, today's bond market weakness was multifaceted , to say the least. But if we want to make the ...
Thu, Nov 30 2017, 4:12 PM
There are several news stories out today that reference LOWER rates this week. These all rely on stale survey data that failed to account for changes ...
Thu, Nov 30 2017, 9:40 AM
Bonds are beginning the day in roughly unchanged territory, but that's not a good thing as far as the bigger picture is concerned. "Unchanged territo...
Wed, Nov 29 2017, 6:39 PM
Bond markets began domestic hours only slightly weaker, but that didn't last. Milliseconds into the 8am hour, we saw stronger inflation data in Europ...
Wed, Nov 29 2017, 3:14 PM
Mortgage rates moved higher today, with most lenders quoting their highest rates in at least 2 weeks. But before you let that worry you too much, know...
Wed, Nov 29 2017, 9:11 AM
Right at the start of trading today, bonds took a hit from Fed comments. Although she's soon to be replaced, Janet Yellen's thoughts on the economy...
Tue, Nov 28 2017, 5:04 PM
Stocks broke out in a big way today--a fact that may make the relatively 'unchanged' bond market performance more palatable. In bonds' defense, they ...
Tue, Nov 28 2017, 4:47 PM
Mortgage rates improved modestly today as markets digested tax bill headlines and the confirmation hearing for new Fed Chair Jerome Powell. As the hea...
Tue, Nov 28 2017, 9:28 AM
Not much will be able to change about the recent analysis until markets actually make a move. In a nutshell, the recent analysis holds that we've bee...
Mon, Nov 27 2017, 5:16 PM
The bond market theme heading into the Thanksgiving break was "waiting for a breakout."
The bond market theme heading out of Thanksgiving break ...
Mon, Nov 27 2017, 4:58 PM
Mortgage rates were almost perfectly unchanged today as markets returned to full force following the extended Thanksgiving break. Bond markets (which ...
Mon, Nov 27 2017, 9:41 AM
Over the past two months, we've seen higher lows and lower highs in 10yr yields and mortgage rates. On a chart, this looks like 2 sides of a "triangl...
Fri, Nov 24 2017, 1:53 PM
Mortgage rates were roughly unchanged today. That's not too surprising considering lenders don't tend to make big moves on the Friday after Thanksgivi...
Fri, Nov 24 2017, 7:38 AM
Today is boring . It was destined to be boring (probably) before it even occurred, and even if it gives the appearance of being exciting at some poi...
Wed, Nov 22 2017, 4:38 PM
We've discussed the tenor of Thanksgiving week in bond markets being more to do with serendipity than traditional "cause and effect" relationships. T...
Wed, Nov 22 2017, 2:55 PM
Mortgage rates fell modestly today, with bond market strength both before and after the release of the Fed Minutes (a more detailed account of the Fed...
Wed, Nov 22 2017, 8:34 AM
To be sure, market participants have one foot out the door today--either mentally, physically, or both. This has already been made quite clear in the...
Tue, Nov 21 2017, 5:18 PM
So far this week, both of the trading days have done everything in their powe r to be as meaningless as possible. There have been no major attempts ...
Tue, Nov 21 2017, 3:34 PM
Mortgage rates were unchanged today, on average, although a few lenders made small adjustments to rates sheets in response to bond market volatility. ...
Tue, Nov 21 2017, 9:12 AM
It's no great mystery that momentum in bond markets (at least in 10yr Treasury yields and MBS) is sharply sideways at the moment--not only in terms ...
Mon, Nov 20 2017, 4:59 PM
Looked at under a microscope, there was a fair amount of intraday volatility this morning. Treasury yields fell overnight, reaching the best levels...
Mon, Nov 20 2017, 2:46 PM
Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie ...
Mon, Nov 20 2017, 9:42 AM
Compared to stocks, bond markets tend to be more affected by changes in market participation surrounding holidays and other sources of illiquidity. L...
Fri, Nov 17 2017, 5:28 PM
With today's modest gains, bond markets did exactly what they need to in order to keep the medium term momentum technicals perfectly flat (that flat...
Fri, Nov 17 2017, 4:53 PM
Mortgage rates barely budged today--not too surprising considering today's bond market levels (which underlie rates) were roughly in line with yesterd...
Fri, Nov 17 2017, 9:35 AM
Take a few steps back from the shorter-term charts (we tend to watch at 2-day chart for most lock/float purposes on MBS Live ) and a theme begins to...
