My Mind on Mortgages

Mortgage rates are unchanged today.
Stocks are trading higher in early morning trading, albeit on light volume.  Equities received a boost from better-than-expected earnings from Exxon Mobil, encouraging news from Disney, and better than expected jobless claims figures.
On the flip side mortgage-backed bonds (MBS’s) haves started the day weaker.  The main focus for interest rate watchers [...]

Mortgage rates are unchanged today.
This morning’s durable goods report from the Commerce Department has added to the uncertainty of the economic outlook.  The report showed a decline in durable goods orders for June when the markets were expecting a small increase.  Bad news for the economy is often good news for mortgage rates.
The US Treasury [...]

Mortgage rates are unchanged so far today but we may see them move higher as the day goes on.
The “flight-to-quality” trade is unwinding a bit in the financial markets today.  Stronger than expected earnings reported by European banks is cultivating some confidence in the equity markets.  As a result we’re seeing yields move modestly higher [...]

Mortgage rates are unchanged today.
Friday’s release of the European “stress tests” on European financial institutions showed that only 7 of 91 banks need additional capital.  This is much better than many people had expected which we’d think would pressure rates higher.  However, analysts are viewing the test stress skeptically which is why the markets haven’t [...]

Mortgage rates are unchanged today.
There is no US economic news being released today but the markets are waiting on pins & needles for the results of the European banks “stress test” which is scheduled to be released today.  European leaders are hoping that the tests show that European banks are stronger than the markets are [...]

Mortgage rates are unchanged today.
Stocks have started the day higher on better than expected earnings from Caterpillar, 3M, and AT&T.  When stocks rally it often puts upward pressure on mortgage rates.
However, stocks are actually recovering from yesterday’s losses.  In his testimony to lawmakers on Capitol Hill yesterday Fed Chairman Ben Bernanke called the economic outlook [...]

Mortgage rates are unchanged today.
With a lack of significant economic data out today attention is focused on Capitol Hill & Wall Street.
Fed Chairman Ben Bernanke is scheduled to testify in front of Congress later today and tomorrow.  With the economic outlook still bleak investors are listening to hear if the Fed has any plans to [...]

Mortgage rates are unchanged today.
As I mentioned in yesterday’s ‘rate update’ mortgage rates are likely to react to the stock market (see how stocks impact mortgage rates HERE).  Yesterday afternoon mortgage rates looked as though they would move higher after stocks bounced off the lows of the day.  This morning stocks have reversed lower on [...]

Mortgage rates are unchanged from Friday.
After a busy end to the week last week which saw the stock market tank on Friday mortgage rates are back at historical lows.  This week is scheduled to be much lighter in terms of economic data so we’ll be watching stocks and technical trading patterns.
So far this morning stocks [...]

Mortgage rates are better this morning.
It’s another busy morning in terms of economic and financial news.  Much of the market’s attention is focused on this morning’s Consumer Price Index (CPI) release.  The report showed that although month-to-month consumer prices jumped higher than expected the annual pace of inflation remains muted.  Year-over-year core inflation increased by [...]