Mortgage and refinance rates today, February 9, 2021
Today’s mortgage and refinance rates Average mortgage rates held steady yesterday, which after so many recent rises, was a win. Earlier, an increase had looked likely, but key markets changed […]
Today’s mortgage and refinance rates Average mortgage rates held steady yesterday, which after so many recent rises, was a win. Earlier, an increase had looked likely, but key markets changed […]
Mortgage rates drift lower as investors worry about pandemic The Washington Post
Mortgage rates have been extremely stable given their proximity to all-time lows. Past precedent suggests one of two things when rates set records: a slow grind lower with additional periodic records or a rather abrupt bounce back in the other direction. The 2nd half of 2020 was definitely characterized by the aforementioned slow grind with at least 20 separate days resulting in record low rates by December 21st. Since then, rates have gone no lower, but apart from a brief stint in early January, they really haven’t gone appreciably higher either. This is made all the more impressive by the fact that the broader bond market is indeed telling mortgage rates to rise. Specifically, 10yr Treasury yields–a perennial travel companion for 30yr fixed mortgage rates–have been rising consistently since
Posted To: MBS Commentary
Locking vs Floating After Underwhelming "Rally Day." The recent losing streak in the bond market made it increasingly likely that we'd see a win this week. Ideally, it would have aligned with a strong response to Wednesday's 10yr auction, but instead, we got a halfhearted version on Tuesday. While this is technically a tactical cue to float for the most risk tolerant clients, that's an aggressive strategy until we see how the market reacts to the 10yr auction. Either way, the bigger picture rising rate trend remains easily intact. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:31 AM Bonds improved overnight as stocks remained in check and European bonds joined in the short-covering trade. A Spanish bond auction (of all the crazy things) was…(read more)
A partnership of more than 350 housing and civil rights organizations reached out on Monday to congressional leaders advocating for further relief for homeowners in the next COVID-19 stimulus package.
The post Housing, civil rights groups ask Congress for $25B appeared first on HousingWire.
Posted To: MBS Commentary
Treasury Slide Transcends NFP; MBS Outperform Bond yields rose overnight–well before NFP came out–following the senate's passage of a budget resolution that clears the way for (eventual) passage of the $1.9 trillion stimulus package. NFP helped (then hurt, then helped again), but bonds ultimately gave in to rising rate pressures as traders began to build in a concession for next week's Treasury auction cycle. 10yr yields were up roughly 3bps on the day at the close, but MBS managed to hold roughly unchanged (further adding emphasis to the Treasury auction trepidation and budget related concerns as a bond market mover). Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Nonfarm Payrolls….. 49k vs 50k f'cast, -227k prev Unemployment %…. 6.3 vs 6.7 f'cast, 6.7 prev Avg work…(read more)
Today’s mortgage and refinance rates Average mortgage rates inched higher yesterday. And that meant we’ve seen four rises and one fall this week. It’s not a great outcome. But each […]
Refinance demand jumps 105% annually, as mortgage rates set 15th record low of 2020 CNBC
Today’s mortgage rates reach new high | February 4, 2021 Fox Business
Mortgage rates spike to highest levels in nearly two months The Washington Post