From Matthew Graham at Mortgage News Daily: Mortgage Rates Higher Despite Friendly Market Movement Mortgage rates are largely dictated by movements in bond markets–specifically mortgage-backed securities (MBS).  When bonds improve, prices rise and investors are willing to pay more to buy loans.  This results in rates moving lower.  In other words, bond market improvement =...
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From Matthew Graham at Mortgage News Daily: Low and Sideways, Mortgage Rates Play Waiting Game Mortgage rates were slightly higher for the 3rd straight day, continuing a modest bounce back from the year’s lowest rates last Wednesday. … While the general movement in rates has been slightly higher, it hasn’t lifted rates much above 2017′s lows....
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From Matthew Graham at Mortgage News Daily: Mortgage Rates Unchanged to Slightly Higher Mortgage rates were unchanged to slightly higher today, keeping them in line with the previous 4 business days.  This 5-day block stands out from the previous trend that had taken rates generally lower since the middle of March, ultimately hitting the best levels...
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From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher, But Steady Overall Mortgage rates rose slightly again today, despite moderate improvement in underlying bond markets. … All that having been said, mortgage rate movement continues to take place inside an exceptionally narrow range.  For the past 3 weeks, most borrowers would be quoted the...
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Tuesday:• At 6:00 AM ET, NFIB Small Business Optimism Index for January. • At 8:30 AM, The Producer Price Index for January from the BLS. The consensus is for 0.3% increase in PPI, and a 0.2% increase in core PPI. • At 10:00 AM, Testimony by Fed Chair Janet Yellen, Semiannual Monetary Policy Report...
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From Matthew Graham at Mortgage News Daily: Mortgage Rates Erase Last Week’s Losses Mortgage rates fell somewhat significantly today, fully offsetting last week’s rise. Specifically, today’s average rates are back in line with those seen on Friday … 4.125% is back in play, now sharing relatively equal territory with 4.25% as the two most...
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Weekend:• Schedule for Week of Jan 1, 2017 Tuesday:• 10:00 AM ET, ISM Manufacturing Index for December. The consensus is for the ISM to be at 53.8, up from 53.2 in November. The ISM manufacturing index indicated expansion at 53.2% in November. The employment index was at 52.3%, and the new orders index was...
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A few truths: Trump lies repeatedly, he knows nothing about economics, and he is a disgusting person (his comments were not locker room comments). And his threat to jail his political opponent will be discussed and criticized for centuries. Back in May, I wrote A Comment on Litmus Test Moments. I gave an example...
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Along with CPI, the BLS will release CPI-W, the Cost-Of-Living Adjustment (COLA) for 2017, the contribution base, and the National Average Wage Index. I expect COLA to be slightly positive, and for a fairly significant increase in the contribution base. Tuesday:• At 8:30 AM ET, the Consumer Price Index for September from the BLS....
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Monday Night from 9:00 to 10:30 PM: the First Presidential Debate at Hofstra University in New York. From Politifact Live fact-checking the first Trump, Clinton presidential debate From the NY Times: How The New York Times Will Fact-Check the Debate Tuesday:• At 9:00 AM ET, S&P/Case-Shiller House Price Index for July. Although this is...
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