This week was Fed week and the Fed held their two day meeting on Tuesday and Wednesday. These meetings occur periodically throughout the year and the markets keep a close eye on the announcement following these meetings. The Fed will announce any rate hike decisions and or give us insight into the probability of future […]
Monthly jobs data came out this morning and the survey says……255K new jobs in July, above the 185K expected. This makes two consecutive months with positive job data. Remember, positive economic news puts upward pressure on rates and gives the Fed more reason for future rate hikes. However, looking a little more long term, I […]
30 year fixed mortgage rates have been seesawing all week in a tight range between 3.625%-3.750%; rates have been supported by favorable Fed commentary of late and uncertainty in foreign markets. Rates are close to 52 week lows and fundamentally they will have a hard time breaking any lower. This is also a great time […]
Mortgage rates have been seesawing this week in a tight range between 3.750-3.875% on 30 year fixed loans with zero points (417K or less). The stock market has been in a four week winning streak and this has been putting some pressure on mortgage bonds. A Fed rate hike is off the table right now […]
This week has been fairly quiet in the markets and mortgage bonds have been trading in a sideways pattern. Since the September jobs report back on the 2nd, mortgage rates have drifted back up slightly to a technical level right around the 200 day moving average. This technical level is important because it acts as […]
Last week the Fed decided to hold off on raising short term Fed funds rates; this initially helped mortgage rates, but the improvement halted as the bond market stopped right at the 200 day moving average. 30 year rates touched the 3.875% mark and are now sliding back up. This 200 day moving average in […]
It’s been a somewhat quite week in the bond markets and rates have been fairly stable. With some of the Greece stuff behind us, the markets are now keeping a close eye on more fundamental economic data for its next direction. Over the last several days we have seen the stock market sliding on mixed […]
Well folks, not too much better news this week with mortgage rates. As mentioned from previous updates, mortgage bonds are still trading below that critical 200 day moving average, and the volatility is higher this week as well. Last Friday’s strong employment data along with increased forecasting of a Fed rate hike, has put a […]
We have had a somewhat flat week in the bond markets; just a little bit of movement up and down and 30 year mortgage rates are straddling the 4.000% mark. Depending on the day to day movement, clients may be able to catch a 3.875 rate with zero points, but we are still mainly at […]
We have had a fairly tame week in the bond markets; the week was filled with inflationary index readings and they all came in relatively flat. Remember, as we start to see higher inflation readings this will have negative effect on mortgage rates, but for now, no big inflationary threat in the short run. There […]