Rate Markets Head Lower On Extreme Volatility
Markets are started today with more selling in stock indexes and better interest rates. At 8:30 am ET Jan personal income and spending; income increased +0.6% on forecasts of +0.4% (Dec revised to +0.1% from +0.2%), spending +0.2% on forecasts of +0.3% (Dec revised to +0.4% from +0.3%). PCE price index +0.1% as expected, yr/yr +1.7% […]
Rate Volatility Spiking On Coronavirus News
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 […]
Purchase Applications jump, And Coronavirus Fears Remain
The stock indexes early this morning were trading better, the 10 yr note yield 1.36% +1 bp. MBS prices down 6 bps at 8:30 am ET. Weekly MBA mortgage applications increased last week; +1.5% on the composite, purchase apps +6.0% while refinance apps declined 1.0%. The week’s results include an adjustment for the Washington Birthday (Presidents’ […]
Rate Markets Moving Lower As Coronavirus Concerns Spike
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 […]
Rate Markets Are Likely In For A Wild Ride 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 […]
Market Focus: Coronavirus, Manufacturing, And Home Sales
The coronavirus is spreading and now getting more attention in the global economic outlook. Until the last couple of the days, the virus was thought to be contained mostly in China and that it would not have a serious impact on the US economy, at least based on how the stock indexes were setting new records […]
Market Paying Close Attention To The Fed And Inflation Data Today
Stock indexes opened a little better this morning, and the interest rate sector unchanged from yesterday at 8:00 am ET this morning. Weekly MBA mortgage applications were a bit soft last week; composite apps -6.4% from the prior week, purchase apps -3.0%, and refinance apps -8.0%. Yesterday though MBAs Builder Application Survey data for January 2020 shows […]
Three Things That Can Move Rates This Week
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 […]
Retail Sales A Little Sluggish While Consumer Sentiment Jumps
Treasury rates better this morning, generally down 3 bps across the curve, the 10 yr at 9:00 am ET 1.59% -3 bps. MBS prices at 9:00 am ET +6 bps from yesterday. At 8:30 am ET January retail sales +0.3% as expected, less autos +0.3% as expected, less autos and gas +0.4% on forecasts of +0.3%. […]
Market Focus: Consumer Prices, FED, And Coronavirus
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 […]
