{"id":8911,"date":"2020-03-10T18:25:38","date_gmt":"2020-03-10T18:25:38","guid":{"rendered":"https:\/\/intelliloan.com\/blog\/?p=8911"},"modified":"2024-10-16T19:17:20","modified_gmt":"2024-10-16T19:17:20","slug":"market-volatility-remains-at-extreme-levels","status":"publish","type":"post","link":"https:\/\/intelliloan.com\/insights\/market-volatility-remains-at-extreme-levels\/","title":{"rendered":"Market Volatility Remains At Extreme Levels"},"content":{"rendered":"<h3>TODAY&#8217;S MORTGAGE RATE SUMMARY<\/h3>\n<h4>HOW RATES MOVE:<\/h4>\n<p>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 economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.<\/p>\n<h4>RATES CURRENTLY TRENDING:\u00a0NEUTRAL<\/h4>\n<p>Mortgage rates are moving sideways so far today.\u00a0\u00a0<strong>The MBS market improved by +1 bps yesterday.<\/strong>\u00a0This caused rates or fees to mostly move sideways for the day. The rates experienced extreme volatility yesterday.<\/p>\n<h4>TODAY&#8217;S RATE FORECAST:\u00a0NEUTRAL<\/h4>\n<p><strong>Treasury Dump:<\/strong>\u00a0We kick off three days of dumping our debt into the marketplace with our shorter-term 3 year Treasury note.<\/p>\n<p><strong>Business Optimism:<\/strong>\u00a0The NFIB Business Optimism Index for February improved to 104.5, which matched market expectations.<\/p>\n<p><strong>Stimulus<\/strong>: Treasury Secretary Mnuchin and National Economic Director Kudlow are meeting with Senate Republicans to see what can be passed in terms of stimulus spending and tax cuts.<\/p>\n<p><strong>Coronavirus<\/strong>: Here are the most recent headlines that the bond market is focusing on:<\/p>\n<ul>\n<li>China&#8217;s President Xi visited ground zero in Wuhan to declare that &#8220;victory is near&#8221; and that &#8221; victory in Wuhan is a victory for Hubei, a victory in Hubei is a victory for China.&#8221;<\/li>\n<li>New Jersey joins the list of states that have declared a State of Emergency<\/li>\n<li>The United States has only completed 5 tests per Million People which makes the US the lowest tester among all countries<\/li>\n<li>Italy has gone on lockdown with travel restrictions for the entire country<\/li>\n<li>Ireland cancels all St. Patrick Day Parades<\/li>\n<li>The CDC has approved 78 public and private labs to test for coronavirus<\/li>\n<li>US cases rise to 755, Deaths at least 26<\/li>\n<li>Global cases rise to 114,578, deaths at least 4,028<\/li>\n<li>Harvard asked all students to NOT return from Spring Break and asked students to move out of their houses\/dorms &#8211; all classes will be online.<\/li>\n<li>Japan unveiled a $4 Billion coronavirus package.<\/li>\n<\/ul>\n<h4>TODAY&#8217;S POTENTIAL RATE VOLATILITY:\u00a0HIGH<\/h4>\n<p>Markets across the board continue to show extreme volatility. President Trump announced a potential tax cut that helped lift equity markets this morning and push rates slightly higher. With the high intraday volatility, it&#8217;s impossible to predict how everything will shake out at the end of trading today.<\/p>\n<h4>BOTTOM LINE:<\/h4>\n<p>If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.<\/p>\n<p><small>Source: TBWS<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TODAY&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":96,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intelliloan"],"_links":{"self":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/comments?post=8911"}],"version-history":[{"count":1,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8911\/revisions"}],"predecessor-version":[{"id":9070,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8911\/revisions\/9070"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media\/96"}],"wp:attachment":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media?parent=8911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/categories?post=8911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/tags?post=8911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}