Mortgage markets worsened last week on better than expected economic data, causing mortgage rates to rise.
Last week was the third consecutive week that mortgage rates moved higher and, since touching a multi-month low in early-October, conforming mortgage rates are up by about a half-percent.
It’s...
Mortgage rates are higher after the Federal Reserve released the internal notes of its September 22-23, 2009 meeting.
Known as the “Fed Minutes”, the report details the conversation and cross-currents that led to the Federal Reserve’s decision to vote “unchanged” on the Fed...
Mortgage markets finished the week unchanged last week but don’t let that make you think the markets were flat. It was a bumpy five days and rates were volatile.
Friday was the worst day of the week by far.
An all-day deterioration, sparked by better-than-expected housing data, caused mortgage...
The week started off with a BANG the FNMA 30 YR 4.5% MBS posted a 34bp gain. This week, there isn’t much data with which traders can play so expect mortgage rates to trade on emotion and momentum instead. This is good for rate shoppers when mortgage rates are falling, but if they start to rise;...
To say that the mortgage markets took a beating last week would be an understatement.
After better-than-expected consumer spending, housing and employment data, stock markets rallied and mortgage markets suffered.
Mortgage rates unwound completely their gains of the last six weeks and now rest near the...