Mortgage rates are essentially unchanged today. Worse than expected economic news out of Europe is helping the US dollar rally versus other currencies right now. A stronger US dollar has an anti-inflationary impact because it effectively makes the foreign imports we purchase less expensive. From a technical standpoint mortgage-backed bonds are trading in between the […]
Mortgage rates are modestly lower today as mortgage-backed bonds trade inversely with the stock market. Mortgage rates are benefiting from a “flight-to-quality” which I explain in today’s you tube video which can be viewed here- Later this week the Personal Consumption Expenditure (PCE) report is scheduled to be released which is an extremely important piece […]
In his speech to the worlds most powerful central bankers today Fed Chairman Ben Bernanke spoke briefly about inflation according to this NY Times article. From the article, “Mr. Bernanke, while acknowledging ‘an increase in inflationary pressure,’ reasserted his view that in the near future, the upswing in inflation from the oil and food shocks […]
I often reference “mortgage-backed bonds” (AKA MBS’s) in my daily rate updates. If you follow rate update consistently then you know that when MBS prices fall interest rates rise and vice versa. The WSJ published a story today regarding investor confidence in high-quality MBS’s and how they remain attractive for bond investor guru Bill Gross […]
Mortgage rates moved modestly higher this morning as we had predicted in yesterday’s ‘rate update’. Yesterday mortgage-backed bonds reversed lower yesterday on technical trading patterns as well as pressure from higher oil prices. (Reminder: mortgage rates move inversely with mortgage-backed bond prices.) Today mortgage backed bonds have opened up the day trading down at important […]
Rates are modestly lower this morning. Yesterday mortgage-backed bonds were able to rally in the afternoon thanks to the factors outlined in yesterday’s ‘rate update’. However, these factors may be overshadowed by rising oil prices. Oil prices have bounced off recent lows of $111/ barrel and are now trading up near $120. Higher oil prices […]
My colleagues Tony & Jared of Equity Design @ Mortgage Trust recently wrote this excellent posting on their blog about 6 things we can all do to overcome these tough economic conditions. Among my favorite- dust off the bike and ride to work which is something I’ve done over the past few weeks! Thanks Tony and […]
Rates are modestly lower this morning. Renewed credit worries have helped mortgage rates remain low in the face of hot inflation data. Here are links to the articles that were referenced in today’s rate update video: –Blog posting & link to Sunday’s Barron’s article regarding the inevitable nationalization of Fannie Mae and Freddie Mac (this […]
Rates are unchanged again this morning. Last Thursday the Labor Department issued the monthly Consumer Price Index (CPI) report which showed that prices at the consumer level in our economy grew at the fastest pace in 17 years. Today, the Labor Department released the monthly Producer Price Index (PPI) report which reports on prices at […]