Mortgage-backed bonds are trading higher this morning which has helped rates remain unchanged from yesterday despite a sell-off in the afternoon. The bond market is benefitting from a weak stock market. Over the past week I’ve referenced the impact that the stock market can have on mortgage rates. For a detailed explanation please search for […]
Weakness in the stock market has helped rates stabilize. The Dow Jones Industrial Average is back below 12,000 as credit related concerns continue. If weakness in the stock market persists we could see mortgage rates benefit. We don’t expect a lot to change with regard to interest rates until Wednesday when the Fed is scheduled […]
Mortgage rates are slightly higher this morning than they were yesterday due to a sell-off in the bond market yesterday afternoon. There is not economic data set for release today so we will be watching the stock market and technical trading patterns for clues as to the direction of mortgage rates. Stocks are currently trading […]
Mortgage rates did improve yesterday thanks to a rally in the mortgage-backed bond market that we expected. At this point mortgage-backed bond prices are trading right at the level we had predicted in yesterday’s rate update. We are going to shift our outlook to a neutral stance as concerning inflation data continues to trickle in. […]
Mortgage rates improved by .125% yesterday afternoon because of technical trading patterns that we had identified in yesterday’s rate update. Today there are two factors which we think provide a favorable outlook for mortgage rates in the near-term. Watch today’s you tube video for an explanation. The stock market is trading lower this morning in […]
Mortgage rates increased by another .125%-.25% yesterday because of continued inflationary pressure. This morning the Labor Department issued the monthly Producer Price Index (PPI) report. This report is important for inflation expectations because it indicates price changes in the wholesale and manufacturing level of our economy. The report indicated that price changes for wholesalers and […]
Closing costs can play an important role in deciding on a lender to work with. Many consumers elect to “shop around” to be sure that they are obtain mortgage services with competitive terms. I encourage consumers to educate themselves on their options and take pride in going over the costs of a mortgage/ home purchase […]
Over the past two weeks mortgage rates have increased by approximately .25%-.50% depending on the loan program. Concerns over inflation have been the main culprit. This morning news surrounding inflation topics continue to create headlines. Crude oil prices rose to $139.89/ barrel this morning which will continue to put price pressure on every corner of […]
Rates moved higher yesterday upon further selling pressure in the bond market. However, we are shifting our outlook to a floating position today. In yesterday’s ‘rate update’ we stated that , “From a technical standpoint we are testing multi-month lows on bond prices. We may see a bounce off these lows which would help rates […]
Rates are effectively unchanged this morning. However, mortgage-backed bonds have come under selling pressure which could pressure rates slightly higher later on today. What is pressuring bonds? *This morning’s retail sales report indicated that consumer spending grew twice as fast as economists had expected. This good news for our economy is helping stocks this morning […]