My Mind on Mortgages

Mortgage rates are unchanged this morning. All eyes are focused on tomorrow’s monthly jobs report from the Bureau of Labor Statistics.  Typically this report will shape the directon of mortgage rates for the following few weeks. In general, when the employment figures in this report are reported better than expected mortgage rates rise and vice [...]

Mortgage rates are basically unchanged this morning. If you were looking for some positive economic news from ‘rate update’ today then please stop reading at this point. Weekly jobless claims were reported to rise for the second week in a row today.  The 4-week moving average rose for the first time in weeks which is [...]

Readers of this blog are probably well aware of the fact that mortgage rates have basically remained in a tight sideways range since mid-January.  Followers of the stock market know that the equity markets have effectively traded sideways over that time as well.  The WSJ published this article today summarizing two opposing views of stocks [...]

Most mortgage rates are unchanged this morning. Mortgage-backed bonds (MBS’s) continue to trade sideways up against stiff technical resistance.  I continue to believe that it would take an unexpected event for mortgage rates to move substantially lower. Interest rates have benefited over the past week from renewed concerns over Greece’s fiscal health.  They have yet [...]

Most mortgage rates are unchanged this morning. Mortgage-backed bonds (MBS’s) are benefiting from a weak open in the equity markets this morning.  The Dow Jones Industrial Average is currently off 150 points on worse than expected job claims numbers and renewed concerns over Greece. Fed Chairman Ben Bernanke announced today that the Fed was looking [...]

Mortgage rates are mostly unchanged from yesterday. There is not much in the way of substantial economic data today.  Stocks are trading higher thanks to better than expected Q4 earnings from D.R. Horton (DHI).  The homebuilder reported a quarterly profit for the first time since 2007. Bond traders appear to be on hold until tomorrow [...]

As expected the Fed announced today that they would leave short-term interest rates near historic lows.  No surprises there.  However, there was a couple interesting excerpts from their post-policy meeting statement which suggest mortgage rates are poised to move higher (also not a surprise if you’ve followed my blog posts time and time again). Here [...]