Posted To: MBS CommentaryToday's pull-back really began yesterday, and involved stocks moving higher with bond yields Momentum continued through the overnight session for bonds, but stocks pulled back The divergence was sharpest after 9:30am, suggesting ETF-related selling Multiple motivations in … [Read more...] about MBS RECAP: Bonds Pull Back Ahead of Next Week’s Big Show
Posted To: MND NewsWireThere was a flicker of life this month in the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). After spending four consecutive months stuck at a reading of 58, the index gained two points to reach its highest reading since January. The … [Read more...] about Builder Index makes First Move in Five Months
Posted To: Mortgage Rate WatchMortgage rates moved lower today, largely because they needed to get caught up with yesterday afternoon's movement in bond markets. As a reminder, mortgage rates are most directly affected by mortgage-backed-securities (MBS), which tend to move in the same direction as … [Read more...] about Mortgage Rates Deeper into 3-Year Lows
Posted To: MBS CommentaryBonds rode overnight momentum to best levels in 3+ years Stock selling is definitely part of the equation Brexit drama now involves murder, which may have moved markets Either way, rates and stocks had enough of "moving lower" Bonds sold off, but easily maintained 3-year low … [Read more...] about MBS RECAP: Another Brutal Sell-Off (Leaving Bonds at 3-Year Lows)
Posted To: MBS Commentary(additions underlined, deletions struck-through) For immediate release Information received since the Federal Open Market Committee met in MarchApril indicates that the pace of improvement in the labor market conditions have improved further even ashas slowed while growth in … [Read more...] about Differences Between Current and Previous FOMC Statements
Posted To: Mortgage Rate WatchMortgage rates were unchanged today, despite the potential for volatility surround the Fed's rate announcement. No one expected the Fed to hike rates at this meeting, but there was a risk they could shake things up via the release of their updated forecasts or during … [Read more...] about Mortgage Rates Lender-Dependent After Fed Announcement
Posted To: MBS CommentaryThe Fed confirmed they had an eye on probably concerns rate hike outlook was downgraded, as was growth They're concerned about confirmation of labor market deceleration, Brexit, etc. They did nothing to attempt to sound like they were interested in hiking Bonds moved back in … [Read more...] about MBS RECAP: Fed Admits Reality; Bonds Rally
Posted To: Mortgage Rate WatchMortgage rates were initially lower this morning as global bond yields continued to plumb record lows. There was widespread coverage in financial news of Germany's 10yr bond yield dipping into negative territory. That's important for a few reasons--not in terms of … [Read more...] about Mortgage Rates, The Fed, and Brexit. What Does it All Mean?
Posted To: MND NewsWireThe national foreclosure inventory, homes somewhere in the process of foreclosure, along with other measures of housing distress, continued to decline in April. CoreLogic said today that there were 406,000 homes in the inventory in April, 1.1 percent of all homes in the … [Read more...] about Time to Stop Talking About Foreclosures?
Posted To: MBS Commentary10yr yields were as low as 1.567 early Fannie 3.0s were as high as 103-04 Both were driven by Europe (sub-zero German 10yr) and both rebounded when Europe rebounded US bonds ended up relatively unchanged ahead of Fed Sooooo much Brexit horse-trading I wrote down some … [Read more...] about MBS RECAP: “Horrible Sell-Off” Brings Bonds Back to Flat