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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 →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 →We open 2010 with mortgage rates hovering just over 5%. We covered mortgage rate predictions for this week.
On a broader sense, we’re in the last 90 days of the Fed’s mortgage bond purchase program. As they unwind this program, we’re seeing the last days of a massive $1.25T stimulus package.
Current Mortgage Rates [...]
Continue Reading →Loan rates have been under heavy selling pressure for a few weeks now. We’re hitting some key levels of support where the trend can either reverse or possibly still get much worse. It is a light trading week due to the holiday so volatility could move rates violently in either direction at this point.
Current [...]
Continue Reading →It has been an ugly few weeks. Today, we are getting a slight reversal and rates are improving.
This was a slight earthquake but it wasn’t the “big one.” We’re still sitting in a tight range near 5% for mortgage rates. The Fed’s share of mortgage bonds used to be just 1%. Today, they announced [...]
Continue Reading →Mortgage bonds staged a massive rally yesterday, surging over 60 basis points. This pulled mortgage rates back below 5% to close yesterday and open today at 4.875% on the benchmark 30 Year Fixed.
Current Chicago Home Mortgage Rates No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. 30 Year Fixed [...]
Continue Reading →This week’s big news item was the Federal Open Market Committee yesterday. There were no major concerns on inflation and the economic statement was a very balanced, cautiously optimistic outlook.
We mentioned yesterday that bonds were as oversold yesterday as they were overbought right before this last slide started. Mortgage rates have since recovered by [...]
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