Mortgage and refinance rates today, January 28, 2021
Today’s mortgage and refinance rates Average mortgage rates fell yesterday, as we predicted. And, as a result, they’re now at a new all-time low. There was mixed economic news earlier […]
Today’s mortgage and refinance rates Average mortgage rates fell yesterday, as we predicted. And, as a result, they’re now at a new all-time low. There was mixed economic news earlier […]
Posted To: MBS Commentary
Yesterday's bond market weakness ran the risk of signalling an end to the winning streak enjoyed since January 12th. Those gains were fairly steady and they took yields from the very top of the prevailing trading pattern almost all the way to the bottom. If early trading is any consideration, today is set to confirm the negative shift. In fact, yields are already arguably halfway back across the trend channel (the parallel yellow lines that have guided the broader bond market correction since August). Here's a wider view: Those who primarily follow the world of interest rates in terms of the mortgage market may be wondering "what correction since August?!" That's because mortgage rates cut a very different path for most of 2020. Here's the same chart with mortgage…(read more)
Today’s mortgage and refinance rates Average mortgage rates fell more than expected last Friday. And they’re now back within striking distance of the most recent all-time low, set early this […]
Posted To: MBS Commentary
With 10yr yields breaking the 1.075% technical floor on Monday, the bond market added evidence to the case for a move back to 1.0%. Today's early gains make the evidence nearly overwhelming with yields less than half a basis point away at times. With the Fed coming up this afternoon, it would only take a mildly stronger reaction to break the 1.0% floor . What happens after a break below 1.0% though? The prevailing trend implies heavier resistance around 0.97-0.98%. Specifically, the lower boundary of the "trend channel" (yellow lines below) runs through .98 today. It would require another fairly decent bond rally to get there, but it's not outside the realm of possibility. Such a move could be a blessing or a curse. If the trend keeps doing what it's been doing since August…(read more)
Today’s mortgage and refinance rates Average mortgage rates edged higher yesterday. It was only a small increase. And rates remain in uberlow territory. But it ended an eight-working-day run without […]
The major indices delivered significant losses Wednesday; spared were stocks such as GameStop and AMC, which soared amid a push from a corner of the internet.
The Fed adjourns from a 2-day meeting Wednesday. The group doesn’t set mortgage rates but it can influence them. How this week’s meeting could affect your refinance and purchase mortgage rate.
The future is here, and while the flying cars that were promised havenât arrived yet, the finance world is speeding full-force into the future with everything from wireless payment apps on our phones to entirely decentralized finance systems. Decentralized finance, known as DeFi for short, is a fundamentally new financial system that moves monetary control […]
The post A Beginnerâs Guide to DeFi appeared first on SoFi.
Posted To: MBS Commentary
Very Tame Reaction to The Fed Despite Bond-Friendly Message Bonds took a bit of a lead-off heading into today's Fed announcement as 10yr yields flirted with a break below 1.0% for the first time since cresting that level in early January. As expected and hoped, the Fed statement was a snoozer. If anything, it was bond-friendly and Powell's press conference even more so. Still, bonds barely budged. Stocks were much more volatile with S&P futures falling more than 3% by the end of the day. Last but not least, here's an obligatory Game Stop price update: 339.7 at the close, more than doubling yesterday's close. Econ Data / Events Fed UMBS Schedule 10am, 1130am, 1pm Durable Goods: 0.2 vs 0.9 ( Core CapEx : 0.6 vs 0.6) Market Movement Recap 09:09 AM Bonds rallied moderately overnight…(read more)
The Fed won’t keep interest rates near zero forever â hereâs what to do now CNBC