While trading volume was relatively light throughout the short week of Thanksgiving, mortgage rates worsened after Wednesday morning's economic releases either met or beat expectations, including Initial Jobless Claims, Durable Goods Orders, the Chicago Purchasing index, the University of Michigan Consumer Confidence index, and Leading Indicators. To read more on the blog, visit our website blog at: Blog - Dallas Mortgage Lending Group … (0 comments)
Mortgage rates worsened this week after the FOMC (Federal Open Markets Committee) released the minutes from their October meeting, stating that Fed-policy tapering may occur in the "upcoming months" while consumer sentiment remains "unusually low". The minutes further stated that while there are several significant risks within the U.S. economy with little economic change since September, economic growth is expected to increase. The FOMC mentioned that while the housing recovery has slowed, fiscal policy is restraining economic growth, as further improvement in … (1 comments)
While several Fed officials released statements throughout the short week, mortgage rates improved around Thursday morning's dovish testimony before the Senate by future Fed Chair, Janet Yellen. Yellen stated that while the U.S. economy continues to improve, both the economy and the job market are performing far short of their potential. Yellen further stated that there need to be capital and liquidity rules against "too-big-to-fail" companies, while the Fed will be committed to a regulatory role in order to reduce the threat of … (0 comments)
After seeing moderate volatility early in the week alongside of numerous Fed speakers, mortgage rates drastically spiked after Friday morning's monthly Nonfarm Payroll release of 204,000 new jobs, which was much better than its 120,000 estimate. Unemployment met its estimation of 7.3 percent, slightly worse than its prior 7.2 percent, with the Labor Participation Rate falling to 62.8 percent from its prior 63.2 percent estimate. Visit Dallas Mortgage Lending to more on this Blog … (0 comments)
Mortgage rates worsened this week after Wednesday afternoon's results of the Federal Open Markets Committee (FOMC) meeting were interpreted as slightly less dovish on Fed-policy tapering than they were at their previous meeting. While the FOMC revealed that interest rates and Fed-policy tapering will remain unchanged, they removed a reference that stated how rising mortgage rates and tightening financial conditions present downside risks to employment and economic growth. The remaining results were similar to the last FOMC meeting, with the Federal Funds Rate … (0 comments)
As backlogs of economic data began to be released this week due to the government shutdown, mortgage rates steeply improved after Nonfarm Payrolls were released much worse than expected at 148,000, versus their 180,000 estimate. While the Unemployment Rate fell to 7.2 percent, versus its 7.3 percent estimate, the Labor Participation Rate remained at its lowest level in 40 years of 63.2 percent. While weekly Jobless Claims were worse than expected at 350,000, versus its 340,000 estimate, they continued to lack sufficient data … (0 comments)
Mortgage rates steeply improved this week, as the U.S. government reopened hours before Thursday's budget deadline, after a 17-day shutdown. Heated debates on Capitol Hill led to a last-minute, temporary budget agreement late Wednesday night, funding the government through January 15 and extending borrowing authority through February 7. To Read More Here: Dallas Mortgage Lending Blog … (0 comments)
weekly update: Market Commentary | September 20, 2013
- 09/30/13 03:41 AM
Weekly Update | September 20, 2013 Mortgage rates steeply improved this week after Wednesday's heavily-anticipated Federal Open Markets Committee (FOMC) meeting, as the Fed surprisingly announced that its $85 billion per-month asset-purchasing program will continue without tapering until there is evidence of further improvement in U.S. economic and labor conditions. The federal funds rate will remain between 0 and 0.25 percent, as long as unemployment remains above 6.5 percent and projected inflation for one to two years is not greater than 2.5 percent. Larry Summers, former favorite to replace Fed Chairman, Ben Bernanke, dropped out of the running earlier in the … (0 comments)
weekly update: Market Commentary | September 13, 2013
- 09/13/13 07:06 AM
Market Commentary by Caliber Home Loans, Inc or special contributors on 09/13/13 Weekly Update | September 13, 2013 Mortgage rates improved most of the week alongside of a dovish Fed-policy tapering outlook, in the midst of last Friday's dismal payroll releases, as there were no heavy economic releases until late in the week. Markets continued to focus on the Syrian crisis and next Wednesday's FOMC meeting, as traders speculate when the Fed will announce its policy-tapering window and who will replace Fed Chairman, Ben Bernanke. While Syria accepted a Russian proposal to surrender its chemical weapons to an international body, President … (0 comments)
weekly update: Market Commentary | September 6, 2013
- 09/06/13 07:29 AM
Weekly Update | September 6, 2013 by Caliber Home Loans, Inc or special contributors While debates around the world over a U.S. military strike on Syria continued throughout a short week, mortgage rates worsened alongside of high expectations for Friday's payroll release. Rates improved significantly Friday morning after payrolls were much worse than expected. Friday's monthly change in Nonfarm Payrolls was 169,000, versus its 180,000 estimate, with a 2 month revision to 104,000, versus its prior 162,000 release. Click Here to Read More … (2 comments)
weekly update: Market Commentary | August 2, 2013
- 08/02/13 03:32 AM
Market Commentary | August 2, 2013 by Caliber Home Loans, Inc or special contributors on 08/02/13 Weekly Update | August 2, 2013 Mortgage rates worsened early in the week alongside of improving U.S. economic outlook and early-Fed policy tapering sentiment. Rates then rebounded Friday morning alongside of a much lower-than-expected ADP Employment release of 162,000, versus its 185,000 estimate. The Federal Open Market Committee (FOMC) kept interest rates steady and voted 11-1 against tapering its policy, while there were few language changes from their last meeting. While the minutes will be released on August 21st, many continue speculate that the Fed … (0 comments)
weekly update: Market Commentary | June 21, 2013
- 07/24/13 02:35 AM
by Caliber Funding or special contributors on 06/21/13 Weekly Update | June 21, 2013 Mortgages rates worsened steeply throughout the week with continued extreme volatility, as the Federal Open Market Committee (FOMC) meeting and testimony from Fed Chairman, Ben Bernanke, left mixed expectations of their policy-tapering window. Click Here to Read More … (0 comments)
weekly update: Market Commentary | July 19, 2013
- 07/24/13 02:33 AM
Weekly Update | July 19, 2013 Mortgage rates gradually improved this week with relatively moderate volatility, as Fed Chairman Ben Bernanke's semi-annual testimony indicated that Fed-policy tapering will not happen any time soon, while a gradual U.S. economic recovery outlook remains. To Read More - Click Here to visit our Dallas Mortgage Lending Blog … (0 comments)
weekly update: Market Commentary | July 12, 2013
- 07/15/13 03:27 AM
by Caliber Funding or special contributors on 07/15/13 Weekly Update | July 12, 2013 Mortgage rates improved throughout a light news week, rebounding from the steep spikes they took after the Nonfarm Payrolls were released last week. as The release of the June 18th - 19th Fed minutes and Ben Bernanke's follow-up statements returned market sentiment to a more gradual Fed-policy tapering outlook. Click Here to Read More … (0 comments)
After a gradual downturn throughout the short trading week of the July 4th holiday, mortgage rates took an extreme turn for the worse Friday morning, as Nonfarm Payrolls shattered expectations at 195,000, versus their 165,000 estimate. The previous month's Nonfarm Payrolls were also revised to shatter expectations, from 175,000 to 195,000, further fueling extreme pressure on rates. Although Unemployment remained worse than expected at 7.6%, versus its 7.5% estimate, such increases in payrolls were enough to drive mortgage momentum, … (0 comments)
weekly update: Market Commentary | June 28, 2013
- 06/28/13 05:58 AM
Weekly Update | June 28, 2013 by Caliber Funding or special contributors on 06/28/13 While mortgage rates worsened early in the week, continuing from last week's post-Federal Open Market Committee (FOMC) meeting, fears of early-Fed tapering rates began to steeply improve mid-week, as several Fed releases leaned towards a more gradual policy-tapering outlook. Rates then opened worse once again Friday morning, as extreme market volatility continues. Click Here to Read More about this Market Commentary … (0 comments)
weekly update: Market Commentary | June 14, 2013
- 06/14/13 04:04 AM
by Caliber Funding or special contributors on 06/14/13 Weekly Update | June 14, 2013 Heavy volatility continued this week. While mortgage rates improved, market focus remained on the anticipated outcome of next week's Federal Open Market Committee (FOMC) meeting. The FOMC will meet on Tuesday and Wednesday of next week, regarding the continuation of the Fed's current economic policy, including its $85 billion per month bond-buying program. Click Here to Read More Market Commentary … (1 comments)
weekly update: Market Commentary | June 6, 2013
- 06/07/13 04:16 AM
Weekly Update | June 6, 2013 by Caliber Funding or special contributors on 06/07/13 Early-Fed market exit debates continued to drive market momentum this week with extremely high volatility, while traders positioned themselves around their expectations of Friday's payroll release. After heavy daily market swings throughout the week, mortgages traded near their week opening levels Friday morning. Click Here to Read More … (0 comments)
weekly update: Market Commentary | May 31, 2013
- 05/31/13 03:23 AM
Weekly Update | May 31, 2013 Mortgage rates continued to see high volatility throughout the short trading week. On Tuesday rates worsened throughout the day, climbing by an even higher margin than they did throughout last Wednesday's massive spike, as better than expected Consumer Confidence and Home Prices fueled early Fed exit concerns. Rates began to improve sharply as buyers reentered the market Wednesday morning, while Thursday's worse than expected GDP, Employment, and Home Sales reports began to soften early Fed exit concerns. Mortgage volatility then continued Friday morning, as rates opened up better alongside of worse than expected Personal Income … (0 comments)
weekly update: Market Commentary | May 24, 2013
- 05/28/13 03:38 AM
Weekly Update | May 24, 2013 Mortgage rates saw extreme volatility this week, spiking to shocking levels on Wednesday, as the debate continued over when the Fed will slow down its economic policy. The debate culminated throughout Fed Chairman Ben Bernanke's testimony and the release of the FOMC (Federal Open Market Committee) minutes from their April to May meeting. Click Here to read more of the blog at Dallas Mortgage Lending Blog … (1 comments)
by Caliber Home Loans, Inc or special contributors on 12/02/13
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