rancho bernardo mortgage: Mortgage Market News for the week ending July 19, 2013
- 07/19/13 06:16 AM
Retail Sales Below Target Weaker than expected Retail Sales data helped mortgage rates this week. Soothing comments from Fed Chief Bernanke also were a positive influence, and mortgage rates ended the week lower. The monthly Retail Sales report measures spending by consumers, which accounts for about 70% of economic activity. Monday's report revealed that Retail Sales were higher in June than in May, but the increase was much smaller than expected. The shortfall caused economists to lower their forecasts for second quarter GDP. When economic growth indicators are below the consensus forecast, future inflation expectations are reduced, and this is favorable … (0 comments)
rancho bernardo mortgage: San Diego Mortgage News - June 11, 2013
- 06/11/13 01:41 AM
At 7:00 this morning the 10 yr note yield was at 2.28% +7 bp frm yesterday’s close; at 9:00 the note improved to 2.24%. US, Europe and Asian stock market all being hit hard today; at 9:00 the DJIA was-115 frm yesterday’s close pointing to a very weak open at 9:30. At 9:30 the DJIA opened -139, NASDAQ -44, S&P -18; the 10 at 2.25% +4 bp and 30 yr MBS price -34 bp frm yesterday’s close.
The new concern this morning is being triggered by news frm the Bank of Japan overnight that it left its monetary policy unchanged, markets apparently believed the BOJ would increase its stimulus. In Germany … (0 comments)
rancho bernardo mortgage: Why Have Mortgage Rates Moved Higher? - August 17, 2012
- 08/17/12 04:49 AM
Why Have Rates Moved Higher? After reaching record lows near the end of July, mortgage rates have moved steadily higher this month, and the trend accelerated this week. While the US economic data was roughly neutral and there was little news out of Europe, mortgage rates continued to rise. Prior to July 26, two primary factors were responsible for the decline to record low mortgage rates. First, the European debt troubles caused investors to shift to relatively safer assets, including US mortgage-backed securities (MBS), and mortgage rates are largely determined by MBS prices. Second, slower economic growth reduced inflationary … (0 comments)
rancho bernardo mortgage: Mortgage News - Friday August 17, 2012
- 08/17/12 02:01 AM
Financial markets started about unchanged early this morning; the stock indexes a little weaker, the 10 yr note yield down 3 bp and MBS prices at 8:00 unchanged from yesterday. Markets quiet ahead of data at 10:00. Optimism continues that the EU is making progress to fend off defaults on sovereign debts and save the EU from a break up. According to news reports European leaders are moving closer to an agreement on solving the region’s debt crisis that may involve buying sovereign debt. Austrian Chancellor Werner Faymann said the breakup of the euro area or the bankruptcy of a … (2 comments)
Retail Sales Below Target
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