Stock Market Today: Tech Gets Respite From Recent Selling
Treasury yields cooled off Friday, and so did the Dow and S&P 500, while the recently maligned Nasdaq and several of its tech components enjoyed a modest rebound.
Treasury yields cooled off Friday, and so did the Dow and S&P 500, while the recently maligned Nasdaq and several of its tech components enjoyed a modest rebound.
Today’s mortgage and refinance rates Average mortgage rates soared yesterday, rising by a greater amount than we’ve seen in a long time. Of course, they’re still very low in a […]
Today’s mortgage and refinance rates Average mortgage rates nudged higher yet again yesterday. Of course, these rates remain exceptionally low by historical standards and are at dream levels for most. […]
How will a surge in bond yields affect your mortgage, car loans and 401(k)? USA TODAY
Today’s mortgage and refinance rates Average mortgage rates rose yet again yesterday. But it was the smallest increase for a couple of weeks. Is that any consolation? Unfortunately, mortgage rates […]
Mortgage rates WISH they were still at 2.97%–the number conveyed today by Freddie Mac’s weekly survey. Freddie’s data is accurate when it comes to capturing broad trends over time, but can really fall short when the bond market is experiencing elevated volatility. To say that bond market volatility has been elevated recently is an understatement of extreme proportions. Things are happening that haven’t happened in years . Some measures of volatility rival the March 2020 panic surrounding covid, only this time, there’s no catalyst other than the market movement itself. Today was by far the worst of the bunch when it comes to this most recent spate of volatility. Most any mortgage lender added another eighth of a percent to their 30yr fixed rate offerings. Over the course of the past week, most
Posted To: MBS Commentary
Surprisingly Swift Selling in The Bond Market; What's Next? This week has been one of the most surprising selling sprees in bonds in the post-covid era. Just when you think we've surely seen enough selling to bring buyers in, it's right back to new long-term high yields and significantly lower MBS prices. That bounce is coming, to be sure, but it's a risky proposition to bet on it. Moreover, when it happens, it changes nothing about the broader trend toward higher yields that's been intact for more than 6 months. This week just happens to offer a more abrupt adjustment to the pace of that trend. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Markit PMI Composite 58.8 vs 58.7 prev Existing Home Sales 6.69m vs 6.61m f'cast, 6.65m prev Market Movement Recap 08:28 AM…(read more)
Mortgage And Refinance Rates Today, Feb. 23 | Rates steady The Mortgage Reports
Today’s mortgage and refinance rates Average mortgage rates rose again yesterday. And the rise was sharper than looked likely first thing that morning. When we say that markets can turn […]
As of today, you’d have to go back to June 2020 to see higher mortgage rates. This is courtesy of an ongoing move in the bond market that has longer-term rates/yields surging higher at the quickest pace since the pandemic began. The broader bond market has actually been signalling this sort of move since late last summer, but it wasn’t an issue for mortgage rates for a variety of reasons. Now that the mortgage market has mostly exhausted its protective cushion against broader bond market volatility, when the broader bond market has a bad day, so do we. It goes without saying that today was bad. Just look at the scoreboard , after all. But it also tried to be good. Bonds battled back from their worst levels quite well by the early afternoon. This was especially true for mortgage-backed bonds