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Interest Rate News

February 24, 2014; 9:49am Good morning! Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat Interest rate recommendation:  Locking bias Mortgage bonds (MBS’s) are flat this morning with no economic reports today.  The rest of the week is full of economic data, including Housing numbers, U.S. economic growth with GDP numbers and the usual Initial Jobless Claims report on Thursday.  This week will also see an onslaught of supply with the US Treasury auctioning $96 billion in treasury notes.  We will change to a locking bias...

February 24th, 2014 Interest Rate News

Interest Rate News

February 21, 2014; 9:41am Good morning! Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat Interest rate recommendation:  Cautious float Mortgage bonds (MBS’s) are currently flat, they were worse earlier this morning while getting pressure from a rallying stock market. Interest rates remained the same as yesterday.  Existing Home Sales decline by 5.1% from December to January.  The National Association of Realtors cites the decline due to extended winter weather conditions, tightened lending, higher interest rates, limited in...

February 21st, 2014 Interest Rate News

Interest Rate News

February 20, 2014; 8:39am Good morning! Interest rate trends: Today – Higher; 10 days – Higher; 25 days – Flat Interest rate recommendation:  Locking bias Mortgage bonds (MBS’s) are sliding worse again today, with no apparent reason.  Initial jobless claims came in as expected and inflation figures came in unchanged.  It is the lack of consensus in the FOMC meeting minutes that has the market not knowing what to do for sure.  While MBS’s slide to the worse, we will switch to a locking bias, but there has to be some direction or guid...

February 20th, 2014 Interest Rate News

Interest Rate News

February 19, 2014; 11:19am Good morning! Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat Interest rate recommendation:  Cautious float Interest rates remain flat to slightly better as more economic news comes in worse than expected.  The PPI came in showing inflation is still in check.  Building Permits came in lower than expected and Housing Starts came in 16% lower in January than December.  The FOMC meeting minutes will be released at noon today.  Weak unemployment numbers out of the UK are also supporting lower int...

February 19th, 2014 Interest Rate News

Interest Rate News

February 18, 2014; 9:01am Good morning! Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat Interest rate recommendation:  Cautious float Worse than expected economic news this morning is supporting our lower interest rates.  The NY Empire State Manufacturing Index fell to 4.48 in February, down from 12.5 in January and below the 7.5 expected.  The National Association of Home Builders (NAHB) index fell to 46 from 56 and below the 56 expected.  Anything below 50 is bad news.  Tomorrow we will get the FOMC meeting minutes, ...

February 18th, 2014 Interest Rate News

Interest Rate News

February 14, 2014; 9:01am Good morning! Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat Interest rate recommendation:  Cautious float Happy Valentine’s Day!  Interest rates remain the same with mixed economic news this morning.  China’s inflationary figures came in hotter than expected and in the U.S., Consumer Sentiment came in slightly higher than expected.  MBS’s are sitting on the 25, 100 & 200 day moving averages, which creates a double layer of support.  Should MBS’s drop below these l...

February 14th, 2014 Interest Rate News