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Mortgage Interest rate news, mortgage blog, interest rate blog

April 23, 2014; 9:15am Good morning! Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Floating Mortgage bonds (MBS’s) are doing well this morning on worse than expected New Home Sales.  March New Home Sales plunge by 14.5% to an annual rate of 384,000, well below the 455,000 expected.  Yesterday’s Treasury auction garnered a C- rating, not too good, and today’s $35 billion auction of 5 year notes will likely be not so good either.  Mortgage bonds were fairly resilient to yester...

April 23rd, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 22, 2014; 9:15am Good morning! Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Locking bias Mortgage bonds (MBS’s) are currently flat, but worsening.  Yesterday we saw a worsening trend from morning throughout the day.  We expect the worsening trend to continue, but only just a little.  We are changing to a locking bias until news comes that cause bonds to change course.  March Existing Home Sales came in 0.2% lower than February and the lowest since July of 2012.  The Rich...

April 22nd, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 21, 2014; 9:15am Good morning! Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Floating Mortgage bonds (MBS’s) are doing well this morning after last weeks sell off worse.  There are no economic reports due today and the week is light on news.  The U.S. Treasury will auction $96 billion in debt, but they are short term notes, so we are not too worried about them.  Interest rates are mostly the same as they ended last week, not much change.  We will get to see Existing Home sale...

April 21st, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 17, 2014; 10:43am Good morning! Interest rate trends: Today – Higher; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Locking bias Mortgage bonds (MBS’s) are taking a hit today on better than expected economic reports.  The only good news for mortgage interest rates was Fed Chair Janet Yellen’s comments that a health Jobs Report is still a few years out, indicating to the stock market investors that interest rates should remain low for a long time.  The Stock market is flat on all the news, but mortgage bonds are taki...

April 17th, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 16, 2014; 9:43am Good morning! Interest rate trends: Today – Slightly higher; 10 days – Lower; 25 days – Lower Interest rate recommendation:  Locking bias Mortgage bonds (MBS’s) are slightly worse this morning on mixed economic news.  The stock market is rallying on the news, the Dow is currently up +101 points.  Positive economic news out of China is the catalyst and is hurting mortgage bonds at the moment, although loses are minimal.  Tomorrow we will see the Philly Fed index and Initial Jobless claims, could cause some movement, ...

April 16th, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 15, 2014; 9:38am Good morning! Interest rate trends: Today – slightly Lower; 10 days – Lower; 25 days – Lower Interest rate recommendation:  Very cautious float. Mortgage bonds (MBS’s) are a little volatile this morning on mixed economic news.  The CPI measured inflation at slightly higher than expected, but the NY Manufacturing index along with the NAHB index both came in lower than expected.  The NAHB number came in at 47, below 50 is not good for the building industry.  We are less concerned about locking today, we are wanting to...

April 15th, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

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