market: Mortgage Market In Review - 2/8/2010 - 02/08/10 12:05 AM
MARKET COMMENT
Mortgage bond prices rose last week pushing mortgage interest rates slightly lower. Reignited fear of a global economic meltdown sent money into the mortgage bond market in flight to quality buying. The news reports were permeated with worries about European debt payment defaults. Greece and a few other countries were noted as specific concerns. The employment report Friday morning was mixed with unemployment not as bad as expected but a larger than expected drop in payrolls. For the week interest rates fell by about 1/4 of a discount point.
The record debt issuance continues with billions of dollars worth … (0 comments)

market: Mortgage Market Comments for the week of January 24, 2010 - 01/24/10 03:07 PM
MARKET COMMENT Mortgage bond prices rose last week pushing mortgage interest rates lower. The bond market rallied following crumbling stocks as the DOW fell 213 points Thursday. Weekly jobless claims came in higher than expected causing unemployment fears to cast a shadow over the state of the economy. In a consumer based economy it is difficult for people to spend money without a job. The producer price index was mixed as the headline figure was higher than expected but the core was lower than expected. For the week interest rates fell by about 1/4 of a discount point.
The Fed meeting … (0 comments)

market: Mortgage market Comments for the Week of 1/18/2010 - 01/19/10 03:02 AM
MARKET COMMENT
Mortgage bond prices rose last week pushing mortgage interest rates lower. The bond market rallied nicely Tuesday following moves by China to curb growth. Oil prices fell almost immediately providing a much-needed reprieve following the recent run up in prices tied to severe cold weather across the US. The consumer price index data showed tame inflation, which also helped rates improve.
For the week interest rates fell by about 1/2 of a discount point.
The inflation data Wednesday will be the most important economic release this week. Signs of stronger than expected inflation would not be good for mortgage … (0 comments)

market: Mortgage Market Comments for the week of January 11, 2010 - 01/11/10 12:17 AM
MARKET COMMENT Mortgage bond prices rose last week pushing mortgage interest rates lower. Thebond market was buoyed by the announcement that US Treasury increased the credit lines of Fannie Mae and Freddie Mac a total of $400 billion. This was a signal to investors that those entities are “too big to fail” as viewed by the Treasury. We saw some weakness Thursday afternoon as retailers reported stronger than expected holiday sales. The employment report Friday was generally bond friendly. For the week interest rates fell by about 1/4 of a discount point.
The inflation data Friday will be the most important economic data this week. Signs … (0 comments)

market: Mortgage Market in Review - 1/4/2010 - 01/04/10 02:29 AM
MARKET COMMENT
Mortgage bond prices fell last week pushing mortgage interest rates higher. The bond market was choppy most of the week as thin trading conditions magnified movements. We started the week with rates heading higher Monday. Fortunately there was a bit of a rally Tuesday and Wednesday as the Treasury auctions were decent. Those gains were short-lived as the weekly jobless claims figure wasn't as bad as expected. The bond market closed early Thursday and was closed the entire day Friday. For the week interest rates rose by about 1/4 of a discount point.
ISM Index data will set the … (0 comments)

market: Mortgage Market Comments for the Week of 11/30/2009 - 11/30/09 03:02 AM
MARKET COMMENT
Mortgage bond prices rose last week pushing mortgage interest rates lower. The economic data continues to be mixed. Personal income, outlays, and PCE inflation data were stronger than expected. Trading was thin and erratic. Thin trading conditions, news of the looming debt crisis in Dubai and a continued influx of Fed money into the mortgage bond market helped rates improve.
Interest rates finished the week improved by about 1/2 of a discount point.
The employment report will be the most important release this week. This is one of those weeks where there are many economic releases classified as very … (1 comments)

market: Mortgage Market in Review - 11/16/2009 - 11/15/09 02:41 PM
MARKET COMMENT
Mortgage bond prices rose last week pushing mortgage interest rates lower. The Fed spent another $45 billion buying mortgage bonds between November 5th and the 11th. For all the criticism the Fed receives for the handling of the economy, they do deserve credit for keeping mortgage interest rates low throughout this year. How it all plays out in the long term is uncertain. The record Treasury auctions continued to be absorbed in trading without any major problems. For the week, interest rates improved by about 7/8ths of a discount point.
The consumer price index data Wednesday will be the … (0 comments)

market: Mortgage Market in Review - 11/2/2009 - 11/02/09 01:13 AM
MARKET COMMENT
Mortgage bond prices rose last week pushing mortgage interest rates lower. Rates spiked higher Monday morning as stocks surged and the Treasury auctions loomed. Fortunately, foreign demand for the notes was solid, helping to keep mortgage rates low. The stock markets remained volatile all week with the Dow Jones index swinging by triple digits both up and down.
For the week, interest rates improved by about 1/4 of a discount point.
The Fed meeting on Wednesday will be the most important event this week. Productivity and employment figures are likely to move the market.
LOOKING AHEAD
VOLATILITY LIKELY
The … (0 comments)

market: Mortgage Market Comments for the Week of 10/26/2009 - 10/27/09 03:57 AM
Market CommentMortgage bond prices ended the week nearly unchanged despite considerable market volatility. Trading was up and down all week. Rates improved the first portion of the week as stocks fell below key psychological levels. Unfortunately a reversal the middle portion of the week eroded the earlier improvements. Data was mixed with tame inflation readings but generally stronger than expected economic activity. For the week, interest rates were near unchanged.
The Treasury auctions will take center stage again this week. If there is strong foreign demand it will likely spill over to the mortgage bond market. Weak auctions will likely result … (0 comments)

market: Mortgage Market In Review - 4/28/2009 - 04/26/09 07:54 AM
Market CommentMortgage bond prices remained near unchanged holding mortgage interest rates relatively steady for the week. There was very little data the first portion of the week and rates improved slightly as the DOW was down 183 points at one point Monday morning. Unfortunately the durable goods orders and new home sales data were not as weak as expected which helped stocks rally at the expense of bonds the latter portion of the week. For the week, interest rates on government and conventional loans were unchanged.
The Treasury auctions will factor heavily in trading this week. It will be interesting to … (2 comments)

market: Mortgage Market in Review - 4/6/2009 - 04/06/09 03:30 AM
MARKET COMMENT
Mortgage bond prices fell last week applying upward pressure on mortgage interest rates. The bond market continued to come under pressure from significantly stronger stocks. The DOW shot towards the 8,000 mark despite data releases that showed continued economic weakness. Most worrisome were the many reports that indicated people continue to lose jobs. Consumers find it difficult to spend without a job or with the fear their job may be in peril. The weaker than expected consumer sentiment data provided evidence of that fear. For the week, interest rates on government and conventional loans rose by about 3/8's of … (0 comments)

market: Mortgage Market in Review - 3/23/2009 - 03/23/09 02:03 AM
 
 MARKET COMMENT
Mortgage bond prices rose last week applying downward pressure on mortgage interest rates. The bond market got a boost from the Fed announcement (read below) to buy more mortgage debt. There was some profit taking in bonds Thursday afternoon following the run-up in prices Wednesday. Higher than expected core readings of the consumer and producer price indices reignited some inflation concerns. The Fed's continued efforts to pump money into mortgage bonds helped keep mortgage interest rates favorable. For the week, interest rates on government and conventional loans fell by about 1/2 of a discount point.
The Treasury auctions … (0 comments)

market: Mortgage Market in Review - 3/9/2009 - 03/09/09 01:27 AM
MARKET COMMENT
Mortgage bond prices rose last week applying downward pressure on mortgage interest rates. Rates found support from falling stock prices. The Dow Jones index fell into the 6,000 range early in the week and was unable to recover. The employment report released last Friday indicated continued weakness in the labor market with the US economy losing 651,000 jobs in February.
For the week, interest rates on government and conventional loans fell by about 5/8's of a discount point. 
The Treasury auctions will take center stage this week as debt supply concerns continue. Most of the other releases are expected … (0 comments)

market: Mortgage Market in Review - 2/23/2009 - 02/23/09 12:43 AM
MARKET COMMENT
Mortgage bond prices rose last week applying slight downward pressure on mortgage interest rates. Weakness in the equity markets helped bonds recover from losses seen earlier in the week. On Thursday the Dow Jones index closed at October 2002 levels. The Federal Reserve continued buying mortgage bonds with the purchase of about $20 billion from February 12 through February 18.
For the week, interest rates on government and conventional fell by about 1/4 of a discount point.
Consumer confidence data will set the tone for mortgage interest rates this week. The foreign demand for debt will once again play … (2 comments)

market: Mortgage Market Commentary - 2/6/2009 - 02/09/09 12:42 AM
MARKET COMMENT
Mortgage bond prices fell last week pushing interest rates slightly higher. Governments across the globe continued to battle the credit crisis and economic instability. Billions of dollars of debt offerings by the US Treasury continued to be announced. Unfortunately, the additional supply caused bond prices in general to fall and rates to rise the middle of the week. Record weekly jobless claims, weak factory orders, and strong productivity data released Thursday provided much-needed boost for mortgage bonds. For the week, interest rates on government and conventional loans rose by about 1/8 of a discount point.
The retail sales data … (2 comments)

market: Mortgage Market in Review - 2/2/2009 - 02/02/09 02:30 AM
Mortgage Market 2/2/2009
MARKET COMMENT
Mortgage bond prices fell last week pushing rates considerably higher. The data the first portion of the week came in as a surprise with existing home sales and Leading Economic Indicators both stronger than expected. The majority of the other data pointed toward continued economic weakness. New home sales fell a record 14.7%. The Fed left rates unchanged as expected but bonds fell sharply following the announcement. Uncertainty dominated trading. The Fed bought $16.8 billion of mortgage bonds between January 22nd and the 28th but the purchases did little to help rates improve. For the week, … (0 comments)

 
Mick Rothblott (Mortgages By Mick)

Mick Rothblott

Arlington Heights, IL

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