mortgage markets: Mortgage Market In Review - 2/28/2010 - 02/28/10 01:21 PM
MARKET COMMENT Mortgage bond prices rebounded last week pushing mortgage interest rates lower. The majority of the data came in bond friendly. Weaker than expected consumer confidence data Tuesday helped mortgage interest rates improve. The Treasury auctions showed decent foreign demand. The gross domestic product price deflator component showed a smaller price increase than expected while the consumer spending component also came in weaker than expected. Existing home sales fell a surprising 7.1%, considerably weaker than the expected 1% increase. Rates fell about 3/4 of a discount point for the week.
The employment report Friday morning will take center stage this week. Until then, look for the PCE inflation … (0 comments)

mortgage markets: Mortgage Market in Review - 2/22/2010 - 02/22/10 04:06 AM
MARKET COMMENT
Mortgage bond prices fell last week pushing mortgage interest rates considerably higher. The bond market took a hit as inflation concerns emerged after the stronger than expected producer price index data. Producer prices surged in January amid higher energy costs to almost double expectations. The Fed made a surprise rate hike to the discount rate that also resulted in mortgage rate increases. The only positive was the tame consumer inflation reading Friday morning but we were unable to rebound from the earlier losses. Unfortunately rates rose over a full discount point for the week.
The consumer confidence data Tuesday … (2 comments)

mortgage markets: 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)

mortgage markets: 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)

mortgage markets: 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)

mortgage markets: 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)

mortgage markets: Mortgage Market In Review - 8/3/2009 - 08/03/09 06:33 AM
MARKET COMMENT
Mortgage bond prices rallied Friday pushing mortgage interest rates lower. Bond friendly Core PCE inflation data came in lower than expected. The Fed's most recent estimates call for an increase in this figure by the end of the year. The fact that the data showed lower inflation helped mortgage bonds rally. Consumer confidence came in at a weaker than expected 46.6 mark. Analysts were looking for a reading of 48.7. The Treasury auctions were mixed. The 2 and 5 year note auctions received poor foreign demand while the 7-year auction showed strong foreign demand. For the week interest rates … (0 comments)

mortgage markets: 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)

mortgage markets: 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)

mortgage markets: 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)

 
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