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Mortgage rates were best described as " unchanged " today, although that may not be the case tomorrow. The afternoon hours saw bond markets (which dictate rate movement) come under some pressure. In the grand scheme of things, that pressure reinforces the narrow range we've been watching over the past few months. In the context of today's rate sheets, it was enough weakness for a few lenders to issue "reprices" (mid day rate changes--in this case, higher). Most lenders didn't raise rates today because bond markets didn't weaken enough to justify it. That said, the weakness still occurred, and unless things improve overnight, lenders will need to account for it in tomorrow morning's rates sheets. In other words, we start tomorrow with a bit of handicap, all other things being equal. In the morning
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Mortgage Rate Watch
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Mortgage rates were best described as " unchanged " today, although that may not be the case tomorrow. The afternoon hours saw bond markets (which dictate rate movement) come under some pressure. In the grand scheme of things, that pressure reinforce... (read more) |
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Rob Chrisman
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Upset that Richard Cordray has left the CFPB and is officially running for governor of Ohio ? Bored with lending here, and want to go into the home financing business in Africa? Per AllAfrica, Tanzania leads the pack with mortgage rates at 18% . The ... (read more) |
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Housing News
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Nine years after what is acknowledged as the start of the housing crisis about 2.5 million homeowners remain underwater , but that number is down by 0.7 million since the third quarter of 2016. CoreLogic said today that those homeowners remain in neg... (read more) |
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MBS Commentary
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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 early November, and one of the few times it's happened in several months. The other occurrenc... (read more) |
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MBS Commentary
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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 the previous closing levels. The more days in a row where that happens, the longer the winning ... (read more) |
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MBS Commentary
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Bond markets began the day roughly unchanged compared to yesterday afternoon's weaker closing levels. From there, Treasuries rallied in concert with European bonds and managed to hold the modest gains through the European close. The imp... (read more) |
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consumerfinancemonitor.com
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