market updates: Market UpDate W/Deteriorating saga of Greek Debt
- 05/23/11 08:24 AM
There was little news on Friday other than the deteriorating saga of Greek debt, a story that is beginning to feel as old as the Acropolis. Markets were sorting through European solvency concerns causing the Dow to surrender 93.28 points. Meanwhile, the 10-year Treasury rose 6/32 (3.152%). Mortgages followed government bonds higher as MBS prices climbed 4/32 in the "origination coupons". Mortgages benefited from real money demand which improved MBS spreads by 3/32 relative to treasuries on lighter origination volume. Treasury prices are markedly higher this morning as European debt concern has U.S. bonds looking relatively attractive. The yield on the … (0 comments)
market updates: Market UpDate W/ an Increase in Mortgage Rates
- 02/01/11 04:29 AM
Tuesday's bond market is in negative territory following early stock gains and stronger than expected results from an important economic report. The Dow is currently up 89 points while the Nasdaq has 37 points. The bond market is currently down 19/32, which will likely push this morning's mortgage rates higher by approximately .250 of a discount point.The Institute of Supply Management (ISM) released their manufacturing index for January late this morning. They announced a reading of 60.8 that exceeded forecasts of 57.5 and that December's reading was revised higher by 1.5 points. This indicates that more surveyed manufacturers felt business improved … (0 comments)
market updates: Market UpDate W/Labor Department Stats
- 01/06/11 05:24 AM
Thursday's bond market has opened in positive territory after this morning's only economic data gave us favorable results. The stock markets are also helping to boost bond prices with losses in the Dow of 43 points and the Nasdaq 3 points. The bond market is currently up 9/32, but we will still see an increase of approximately .125 - .250 of a discount point in this morning's mortgage rates due to weakness in trading late yesterday.The Labor Department gave us this morning's only economic data with the release of last week's unemployment figures. They reported that 409,000 new claims for unemployment … (0 comments)
market updates: Market UpDate W/Higher Mortgage Rates in the Forecast
- 01/03/11 04:55 AM
Monday's bond market has opened the new year in negative territory despite slightly weaker than expected economic data. The stock markets are the cause of the bond weakness with the Dow up 124 points and the Nasdaq up 46 points. The bond market is currently down 12/32, which will likely push this morning's mortgage rates higher than Friday's pricing by approximately .125 - .250 of a discount point.The Institute for Supply Management's (ISM) manufacturing index was this morning's only important economic data. It showed a reading of 57.0 that was slightly lower than the 57.3 that was expected. This means that … (0 comments)
market updates: Market Update W/Bond Market showing continued improvements
- 12/20/10 06:02 AM
Monday's bond market has opened in positive territory as last week's late strength extends into this morning's trading. The stock markets are doing their part but showing losses rather than gains with the Dow down 38 points and the Nasdaq down 5 points. The bond market is currently up 14/32, which with Friday's afternoon strength should improve this morning's mortgage rates by approximately .625 - .750 of a discount point.There is no relevant economic news scheduled for release today or tomorrow. This means we can look towards the stock markets for direction in bond trading and mortgage rates. If the major … (0 comments)
market updates: Market UpDate for the Holiday Week
- 12/19/10 06:12 PM
This holiday-shortened trading week brings us the release of six monthly or quarterly economic reports. Only a couple of the reports being released are considered to be of high importance to the markets. With the Christmas holiday being observed during the week, we can expect very thin trading. This means that we may see a larger reaction than normal to some news because there will be fewer traders working and less transactions being made. There is no relevant economic news scheduled for release tomorrow or Tuesday, so look for the stock markets to help drive bond trading and mortgage rates those … (0 comments)
market updates: Monday Market UpDate
- 12/06/10 05:26 AM
Monday's bond market has opened in positive territory following a flat open in stocks and a primetime TV reminder from Fed Chairman Bernanke that the economic outlook isn't so rosy. The stock markets are nearly unchanged from Friday's close with the Dow down 3 points and the Nasdaq down 1 point, but just the lack of a gain is good news for the bond market at this point. The bond market is currently up 15/32, which should improve this morning's mortgage rates by approximately .125 - .250 of a discount over Friday's morning pricing. There is no relevant economic news being … (0 comments)
market updates: Market updates for next week 6 Relevant Economic Reports
- 08/29/10 10:01 AM
There are six relevant economic reports scheduled for release this week in addition to the minutes from the most recent Fed monetary policy meeting. With at least one piece of data being posted each day this week, it is fairly safe to assume that we will see another active week in the financial and mortgage markets.Unlike many Mondays, tomorrow does bring us one of those reports. July's Personal Income and Outlays report will be released early tomorrow morning, giving us a measurement of consumer ability to spend and current spending habits. It is expected to show an increase of 0.2% in … (1 comments)
market updates: Market Update
- 08/15/10 01:29 PM
This week brings us the release of four reports that may influence mortgage rates, but only one of them is considered to be highly important. With no relevant auctions or speeches on tap, I suspect we will see much less movement in mortgage rates this week compared to the past couple of weeks. There is no relevant data scheduled for release tomorrow, so look for the stock markets to drive bond trading and mortgage rates.Three of the week's four reports will be posted Tuesday morning. The first is July's Producer Price Index (PPI) that gives us an indication of inflation at … (0 comments)
market updates: Market UpDate
- 08/11/10 06:54 AM
Wednesday's bond market has opened in positive territory, extending yesterday's late rally. The stock markets are posting sizable losses with the Dow down 184 points and the Nasdaq down 51 points. The bond market is currently up 10/32, which with yesterday's afternoon improvements should improve today's mortgage rates by approximately .250 - .375 of a discount point compared to yesterday's morning rates.Today's only relevant economic data was June's Trade Balance that was released early this morning. It showed that the U.S. trade deficit stood at $49.9 billion in June. This was a much larger deficit than many had expected, but this … (0 comments)
market updates: Wednesday Market Report
- 07/28/10 06:24 AM
Wednesday's bond market has opened relatively flat even though we saw weaker than expected results in this morning's economic news and a negative open in stocks. The stock markets are posting minor losses with the Dow down 20 points and the Nasdaq down 8 points. The bond market is currently up 2/32, which will likely improve this morning's mortgage rates by approximately .125 of a discount point.The Commerce Department gave us this morning's important economic news with the release of June's Durable Goods Orders. They announced a decline of 1.0% in new orders for big-ticket items when analysts were expecting to … (1 comments)
market updates: Mortgage Rates are Stable this week
- 07/19/10 07:01 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®). 30-Year Mortgage Rates tied last week's record low. News Facts 30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending July 15, 2010, unchanged from last week when it averaged 4.57 percent. Last year at this time, the 30-year FRM averaged 5.14 percent. This rate ties the all-time low reached last week in Freddie Mac's 39-year survey. 15-year FRM this week averaged 4.06 percent with an average 0.7 point, down from last week when it averaged 4.07 percent. A year ago at … (0 comments)
market updates: Monday OutLook on the State of the Economy
- 07/12/10 06:37 AM
According to Freddie Mac, 30-year mortgage rates hit a record low of 4.57% last week. In morenormal times, this would launch a flurry of refinance activity, but with current economic conditions,and tight underwriting standards, refinance activity ticked up only slightly. While some are beginningto worry about a double dip recession, the US economy is growing right now, and the fears areprobably unfounded at this point.This week, we'll get a bit more insight into the state of the economy with the release of Retail Salesdata and Industrial Production numbers. So far, the recovery has been lead by manufacturing, withhopes that consumers would … (1 comments)
market updates: Monday Morning Market UpDate
- 07/05/10 09:27 AM
Mortgage rates moved downward again last week as the economic recovery showed further signs ofslowing. The respected ISM Manufacturing Index dropped last week. While the index does remainabove 50, which indicates that manufacturing is growing, the dip is another sign that themanufacturing-led recovery is losing some of its momentum. Also helping push mortgage ratesdownward last week was some increased investor appetite for mortgage-related investments. Formany analysts, this a positive sign for the housing market, as this may signal some returning faith inthe long-term strength of the US housing sector. Last week ended with what may have appeared to be good news … (0 comments)
There was little news on Friday other than the deteriorating saga of Greek debt, a story that is beginning to feel as old as the Acropolis. Markets were sorting through European solvency concerns causing the Dow to surrender 93.28 points. Meanwhile, the 10-year Treasury rose 6/32 (3.152%). Mortgages followed government bonds higher as MBS prices climbed 4/32 in the "origination coupons". Mortgages benefited from real money demand which improved MBS spreads by 3/32 relative to treasuries on lighter origination volume.
;)
;)
;)
