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"Today’s Mortgage Rates"
Stocks are recovering slightly this morning after a miserable week last week and it’s caused rates to drift only slightly higher. On this week’s mortgage rate predictions, we are focused on one thing: Wednesday’s Federal Open Market Committee press release.
There are big reports on housing, consumer confidence and GDP hits Friday, but in [...]
Continue Reading →We’ve been seeing it here and the recent Mortgage Bankers Association (MBA) survey shows that refinance activity is spiking on these lower mortgage rates. For the week ending last Friday, January 15, the refinance index was up 10%. Rates have improved this week so we could be seeing another surge as rates dip below [...]
Continue Reading →Mortgage bonds opened the day slightly lower negating yesterday’s rally. Mortgage rates opened right at yesterday’s levels.
Since then, stocks have started out on another bad day and the mortgage bond market has rallied about 25-30 basis points since pricing came out. We have not yet seen any reprices, or revised rate sheets, from the [...]
Continue Reading →Mortgage bonds are trading better today, paving the road for slightly better mortgage rates.
Stocks are having an awful day and we’re seeing money move into the bond market. Stay tuned as this could change at any point.
Current Mortgage Rates No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. [...]
Continue Reading →Interest rates continue to push lower today.
This week’s mortgage rate predictions were focused on two major reports at the end of the week. Yesterday’s Retail Sales report disappointed traders and today’s inflation data shows that, for now, inflation is not a major concern. The market has been fumbling for direction and appears to be [...]
Continue Reading →Volatility is back. Tuesday saw a massive rally, Wednesday saw a sell-off of half Tuesday’s gains, and today finds a soft Retail Sales report causing another rally that is pushing rates lower.
Today’s rates are marked “current” with a good cause–it’s the type of day where we might see an intraday rate change for the [...]
Continue Reading →It has been moderately quite for mortgage rates today. There is very little on the economic calendar today.
Yesterday’s Alcoa and Chevron results struck fear in the stock market and bonds soared on the day. There’s not a lot to drive the market today so it should be the normal give & take between stocks [...]
Continue Reading →Mortgage Rates Rally
Mortgage bonds had dropped significantly since December 1st’s lows, but have been in rally mode to start the week. We’re currently trading up almost 50 basis points (.5% discount points) on the day. That means that a rate from yesterday with 1 discount point should cost roughly .5% in discount points today.
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Continue Reading →The market is improving today. We’re light on news early this week so momentum trading should drive the market. At the start of earnings season for stocks, that means a lot of new stock data. Good stock data often pulls money from bonds driving mortgage rates higher. If you’re bearish on stocks, mortgage rates shouldn’t [...]
Continue Reading →The market continues to be very light on conviction and very high on volatility. The non-farm payrolls report came in today. Estimates were looking for 35,000 in lost jobs and the report revealed a lost of 85,000 jobs. This news is negative for the economy and typically good for mortgage bonds. We’re already seeing many [...]
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