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Mortgage rates were steady to slightly higher yet again today. This reinforces our sense from yesterday that rates may have already found their post-Fed floor. The thing that makes today's modest weakness somewhat surprising is the fact that underlying bond markets actually suggested rates could improve. Actually, it would be more surprising to see this during a more normal time of year for the mortgage market. On the days leading up to the Christmas holiday, it's not uncommon to see lenders being a bit more conservative with mortgage rate offerings. In the bigger picture , rates are still very close to their lowest levels in months. In fact, with the exception of the past 2 days, today's rates are easily the lowest since the beginning of September. In general, if the broader economy (and the
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Mortgage Rate Watch
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Mortgage rates were steady to slightly higher yet again today. This reinforces our sense from yesterday that rates may have already found their post-Fed floor. The thing that makes today's modest weakness somewhat surprising is the fact that underlyi... (read more) |
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Housing News
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Households headed by self-employed persons make up about one-tenth of all households and have a median income higher than those headed by salaried persons. But, while both self-employed and salaried households were hit hard by the Great Recession, th... (read more) |
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Rob Chrisman
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Welcome to the Winter Solstice with more daylight in the Northern Hemisphere every day for the next six months. Today is definitely greeted by residents of Fairbanks, Alaska where the sun sets at 2:40 in the afternoon (with a high temperature of -14)... (read more) |
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MBS Commentary
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One of the biggest surprises I encountered as I've learned about bond markets (and financial markets in general) over the years is just how big a role is played by human people. There's a tendency to think that the market is so big, complex, ... (read more) |
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MBS Commentary
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Stocks and bonds haven't necessarily been joined at the hip for every moment of every day recently, but there's been enough correlation to make today's market movement significant. Simply put, big, obvious breaks to or through new lows in sto... (read more) |
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MBS Commentary
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After quite a bit of stock/bond correlation in the run up to the Fed announcement (and in the few hours that followed), the two sides of the market have gone their separate ways. This is most evident during the past two days during stock... (read more) |
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