Mortgage Market Daily http://www.mortgagemarketdaily.com Lock or Float? 866-719-7203 Tue, 28 Oct 2008 01:56:43 +0000 http://wordpress.org/?v=2.5.1 en Surprise New Home Sales Increase For September http://www.mortgagemarketdaily.com/surprise-new-home-sales-increase-for-september/ http://www.mortgagemarketdaily.com/surprise-new-home-sales-increase-for-september/#comments Tue, 28 Oct 2008 01:56:43 +0000 admin http://www.mortgagemarketdaily.com/?p=212 Today rates were flat on a mixed stock market, and stronger than expected economic news.   Rates could increase up to .25 to the price due to deterioration in bonds from late Friday afternoon.

The surprise today was September’s New Home Sales report which posted an increase of 2.7% when the street had expected another decline.     However this news was offset by a downward revision to August data.

The big upcoming news this week is the FOMC meeting which begins Tuesday and adjourns Wednesday PM.

Surprise New Home Sales Increase For September

]]> http://www.mortgagemarketdaily.com/surprise-new-home-sales-increase-for-september/feed/ Mortgage Rates Volatile and Rising http://www.mortgagemarketdaily.com/mortgage-rates-volatile-and-rising/ http://www.mortgagemarketdaily.com/mortgage-rates-volatile-and-rising/#comments Thu, 16 Oct 2008 21:25:25 +0000 admin http://www.mortgagemarketdaily.com/?p=211 Mortgage rates should improve today by about .125 in rate due to the massive stock market sell-off experienced yesterday.  Most of those gains in the bond, however can be expected to be erased tomorrow as a result of the comeback this afternoon in stocks, and late afternoon related weakness in bonds.

The CPI came in today at levels weaker than expected, confirming that inflationary pressures are low, and that the economy remains weak.

Industrial production came in today at a 34 year low, underscoring, if needed, the weakness of the production sector of the economy.

Mortgage Rates Volatile and Rising

]]> http://www.mortgagemarketdaily.com/mortgage-rates-volatile-and-rising/feed/ Fed and Six World Central Banks Make Emergency Rate Cut http://www.mortgagemarketdaily.com/fed-and-six-world-central-banks-make-emergency-rate-cut/ http://www.mortgagemarketdaily.com/fed-and-six-world-central-banks-make-emergency-rate-cut/#comments Wed, 08 Oct 2008 16:00:48 +0000 admin http://www.mortgagemarketdaily.com/?p=210 The US Federal Reserve and six other central banks cut their overnight lending rates by 50 basis points, over concern about weakening economic conditions.     Bonds, following stock market skepticism over the move, were down despite the cut, pushing rates higher by about .25 the the price. 

 

Fed and Six World Central Banks Make Emergency Rate Cut

]]> http://www.mortgagemarketdaily.com/fed-and-six-world-central-banks-make-emergency-rate-cut/feed/ Mortgage Rates Improve as Stocks Cliff-Dive http://www.mortgagemarketdaily.com/mortgage-rates-improve-as-stocks-cliff-dive/ http://www.mortgagemarketdaily.com/mortgage-rates-improve-as-stocks-cliff-dive/#comments Tue, 30 Sep 2008 02:19:59 +0000 admin http://www.mortgagemarketdaily.com/?p=209 Today’s bond market improved as stocks took a 777 point loss today after the House defeated the proposed Economic “bailout” legislation.     Rates should improve by about .25 to the points.  

 

Today’s August Personal Income and Outlays report showed that personal income rose, bad news for bonds, but completely overshadowed by the stock market slaughter.  
Tomorrow we’ll receive the Consumer Confidence Index for September, and Conference Board Index for September. 

Mortgage Rates Improve as Stocks Cliff-Dive

]]> http://www.mortgagemarketdaily.com/mortgage-rates-improve-as-stocks-cliff-dive/feed/ Mortgage Rates Shoot Up http://www.mortgagemarketdaily.com/mortgage-rates-shoot-up/ http://www.mortgagemarketdaily.com/mortgage-rates-shoot-up/#comments Wed, 17 Sep 2008 16:51:03 +0000 admin http://www.mortgagemarketdaily.com/?p=208 Mortgage rates will post a full 100 basis points higher this morning as a result of the FOMC’s decision not to cut rates, a move that surprised many.  The financial markets had been hoping for a rate cut Tuesday since the Lehman/Bank of America/AIG crisis emerged over the weekend.   Instead, the Fed held strong on their current course, leaving rates unchanged, noting inflationary pressure as a continued concern.   Bonds however are up today on continued stock weakness related to AIG,

Mortgage Rates Shoot Up

]]> http://www.mortgagemarketdaily.com/mortgage-rates-shoot-up/feed/ Worst Losses in Dow Since 2001 Bring Mortgage Rates Down Today http://www.mortgagemarketdaily.com/worst-losses-in-dow-since-2001-bring-mortgage-rates-down-today/ http://www.mortgagemarketdaily.com/worst-losses-in-dow-since-2001-bring-mortgage-rates-down-today/#comments Mon, 15 Sep 2008 22:30:41 +0000 admin http://www.mortgagemarketdaily.com/?p=206 Turmoil in the financial markets today has led to a further decline in mortgage rates.  Today’s news that Lehman Brothers has declared bankruptcy, Merrill Lynch has been purchased by Bank of America and that AIG has asked for 40 million dollars in emergency funding from the government has caused the concern that the economy and financial markets are still in bad shape. The Dow dropped over 500 points today in the worst day since 2001.    Mortgage rates and the bond market, are the cheif beneficiary and improved today by at least 50 basis points.

 

Tomorrow is the FOMC meeting, and up until this afternoon there was little speculation that the Fed would hold the line and not increase rates. There is now some speculation that they may back down from their position, and thus potential for more volatility tomorrow.

Worst Losses in Dow Since 2001 Bring Mortgage Rates Down Today

]]> http://www.mortgagemarketdaily.com/worst-losses-in-dow-since-2001-bring-mortgage-rates-down-today/feed/ Lehman, Banking Crisis in Spotlight http://www.mortgagemarketdaily.com/lehman-banking-crisis-in-spotlight/ http://www.mortgagemarketdaily.com/lehman-banking-crisis-in-spotlight/#comments Mon, 15 Sep 2008 01:25:47 +0000 admin http://www.mortgagemarketdaily.com/?p=205 On deck this week we have an FOMC meeting, and several economic reports of importance.  However, due to the turbulence in the banking sector, with the fate of Lehman Brothers looking like bankruptcy, Merrill Lynch in takeover talks likely with Bank of America, and the dollar dropping in FOREX markets internationally Sunday, Monday and the rest of the week will likely be overshadowed by the drama being played out in the world economy and financial markets.  The Fed will likely hold its line and leave interest rates unchanged.

Lehman, Banking Crisis in Spotlight

]]> http://www.mortgagemarketdaily.com/lehman-banking-crisis-in-spotlight/feed/ Fed Meeting Ends With Rates Unchanged http://www.mortgagemarketdaily.com/fed-meeting-ends-with-rates-unchanged/ http://www.mortgagemarketdaily.com/fed-meeting-ends-with-rates-unchanged/#comments Tue, 05 Aug 2008 21:15:42 +0000 admin http://www.mortgagemarketdaily.com/?p=204 The FOMC meeting concluded today with a statement that there would be no change to short term interest rates, citing mounting inflation concerns, despite a slowing economy.    This was widely anticipated by the markets and as a result there will be no change today’s mortgage rates. 

Fed Meeting Ends With Rates Unchanged

]]> http://www.mortgagemarketdaily.com/fed-meeting-ends-with-rates-unchanged/feed/ Mortgage Rates Tick Up On July Employment Data http://www.mortgagemarketdaily.com/mortgage-rates-tick-up-on-july-employment-data/ http://www.mortgagemarketdaily.com/mortgage-rates-tick-up-on-july-employment-data/#comments Fri, 01 Aug 2008 23:05:46 +0000 admin http://www.mortgagemarketdaily.com/?p=202 Mortgage rates will increase slightly today by about .125 to the points on mixed economic reports.  

The Labor Department reproted that in July the unemployment rate was not as high as had been expected. This is good news for mortgage rates.  However, at the same time the number of job losses was lower than had been expected which is bad news for rates.

Additionally,  the Institute for Supply Management Reported that their July Manufacturing Index came in stronger than expected.  This strength in the manufacturing sector of the economy is bad news for rates. 

Mortgage Rates Tick Up On July Employment Data

]]> http://www.mortgagemarketdaily.com/mortgage-rates-tick-up-on-july-employment-data/feed/ Mortgage Rates Up On Strong Reports http://www.mortgagemarketdaily.com/mortgage-rates-up-on-strong-reports/ http://www.mortgagemarketdaily.com/mortgage-rates-up-on-strong-reports/#comments Sat, 26 Jul 2008 04:29:13 +0000 admin http://www.mortgagemarketdaily.com/?p=201 Bonds reversed course today, sinking as three pieces of economic data came in suggesting the economy is in better shape than thought.  First, Durable Goods Orders for June came in much stronger than had been expected, suggesting that the manufacturing sector is recovering.  Secondly,  University of Michigan’s Index of Consumer Sentiment for June came in stronger than expected, and this increase in consumer confidence is bad for rates.  Finally, new home sales for June were stronger than expected.

Mortgage Rates Up On Strong Reports

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