Posted To: MBS CommentaryJobs reports generally don't move markets any more But they do when they're this far from the forecast NFP came in at 38k vs 164k This adds to confirmation that Fed cannot hike in June Rates adjust accordingly Let's recap the last several weeks/months/(years?) in bond … [Read more...] about MBS RECAP: Jobs Report Matters After All!
Posted To: MND NewsWireWhat do buyers worry about as they shop for a home? It turns out one growing concern is other buyers like them. A Redfin survey of nearly 1,000 buyers found that, while 26 percent cited affordability as their major worry, virtually unchanged from the last two quarterly … [Read more...] about Buyers Increasingly Worried by Competition
Posted To: Mortgage Rate WatchMortgage rates rose modestly today, despite improvements in underlying bond markets. This was in line with our discussion about "the catch" associated yesterday's improvements. Specifically, bond markets had weakened enough in the afternoon to suggest higher rates, yet … [Read more...] about Mortgage Rates Slightly Higher Ahead of Jobs Data
Posted To: MBS CommentaryBonds rallied on rate-friendly press conference from European Central Bank Gains subsided as Europe closed Bounce in oil and stocks may have contributed Bonds pushing stronger side of recent mini-range There's the big-picture range of 2016 (the consolidative "triangle" of … [Read more...] about MBS RECAP: Strong Morning and Flat Afternoon; Thanks Europe?
Posted To: MND NewsWireConstruction spending continued to disappoint in April, but unlike in the preceding three months, residential construction also declined. The Census Bureau said that construction was put in place during the month at a seasonally adjusted annual rate of $1.13 trillion, down 1.8 … [Read more...] about Construction Spending Falls at Fastest Pace in 5 Years
Posted To: Mortgage Rate WatchMortgage rates fell to their lowest levels in roughly two weeks this morning. That's a seemingly positive statement, but while it's true, there are also several catches. The first is that the recent range of rates has been exceptionally narrow, so it didn't take much of … [Read more...] about Mortgage Rates at 2-Week Lows, But There’s a Catch
Posted To: MBS CommentaryBond markets stronger overnight New 2-week lows in 10yr yields, but weaker bounce after ISM Biggest issue with ISM was Prices Paid (63.5 vs 59.8), but headline didn't help either (51.3 vs 50.4) 10yr yields were as low as 1.804 this morning as traders took "risk-off" … [Read more...] about MBS RECAP: Strong Start, Weak Finish
Posted To: MND NewsWireThe annual pace of price gains nationally slowed slightly in March according to the S&P Case-Shiller National Home Price Index. The 10- and 20-City Composite Indices however increased at the same level as in February. The National Index, which covers all nine U.S. census … [Read more...] about Price Gains Ease Slightly on National Basis
Posted To: Mortgage Rate WatchMortgage rates were generally unchanged to begin the short work-week for financial markets, though that wasn't the case at first. Earlier this morning, most lenders were quoting higher rates than those seen last Friday. Markets improved rather significantly during the … [Read more...] about Mortgage Rates Steady Today, but Volatility Looms
Posted To: MBS CommentaryBonds opened weaker as Yellen's Friday comments reverberated data was largely ignored Bonds rallied after Brexit poll and technical ceiling in 10yr yields 10yr Treasuries have been holding a very tidy, very sideways range for 8 straight days now (that's every single session … [Read more...] about MBS RECAP: Bond Markets Battle Back to Green After Weaker Open