Market Focus: Coronavirus, Stimulus, And Retail Sales
TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of […]
Fed Slashes Rates And Restarts QE
Because the Federal Reserve has determined the outbreak of COVID19 has already harmed communities and disrupted economic activity both here in the US and worldwide, yesterday they cut interest rates to essentially zero and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus. The Fed also […]
Rates Pushing Higher, Volatility Sky-High, And Central Banks Stepping Up
Yesterday was the worst day for equity markets since Black Monday 1987, -2352 for the DJIA yesterday, The 1987 crash led to a number of Wall Street firms ending their existence. This morning the volatility continues with the DJIA at 8:30 am ET up 1,000 points. The S&P hit limit up (+5.0%) at 8:20 am ET […]
Rate Market Volatility Continues
Today’s Mortgage Rate Summary How Rates Move: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of […]
Mortgage Refinance Applications Spike 79% As Rate Volatility Continues
The DJIA rallied 1167 point yesterday, in early futures trading this morning down 800 points. The 10 yr note yield yesterday jumped 22 bps to 0.79%, this morning starting at 0.70%. Goldman Sachs out today, saying that the 11-year run bull market is coming to an end. It appears likely for the rest of this […]
Market Volatility Remains At Extreme Levels
TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of […]
Jobless Claims Dip In The Face Of Coronavirus Fears
TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of […]
Refinances Skyrocket, Private Payrolls Jump, And Service Sector Shows Strength
The volatility continues in markets; the stock indexes fell yesterday on the Fed shock rate cut, and this morning the indexes are improving on the Super Tuesday that propelled Joe Biden back into serious contention. A resurgent Biden rolled to victories across the South, Midwest, and New England on the biggest day of voting in the […]
Fed Cuts Rates By Half A Percent Point
TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of […]
Three Things That Can Move Rates This Week
THIS WEEK’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety […]
