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Month: July 2022

Mortgage Market News for the week ended July 29, 2022

Published 7/29/2022 GDP Declines Economic growth during the second quarter was weaker than expected, which was favorable for mortgage markets this week. The Fed meeting revealed no surprises and caused little reaction. As a result,

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Markets focused on inflation data

Published Date 7/29/2022 At 8:30 am ET June personal income and spending were better than estimates; income up 0.6% on expectations of +0.5%, spending expected +0.9% increased 1.1%. The Fed’s inflation data, PCE stronger than thought.

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GDP data indicates recession

Published Date 7/28/2022 TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all

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Expect a volatile day with FOMC ending this afternoon

Published Date 7/27/2022 The 10 yr. began the day down 2 bps to 2.78%, MBS prices 11 bps better. Today is the day markets have been talking about the last two weeks. This afternoon at 2

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Consumer confidence falls ahead of FOMC

Published Date 7/26/2022 TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all

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Markets will be focused on FOMC this week

Published Date 7/25/2022 Last Thursday and Friday the 10 yr. note declined 26 bps and MBS prices jumped 90 bps (4.5 coupon). The FOMC will release the policy statement on Wednesday afternoon with an increase of

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Three things that could impact rates this week

Published Date 7/25/2022 TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all

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Mortgage Market News for the week ended July 22, 2022

published 7/22/2022 ECB Rate Hike During a light week for economic news, the biggest event was the European Central Bank (ECB) meeting. The ECB surprised some investors with its aggressive move to tighten monetary policy to

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Expectations shift on Fed rate hikes

Published Date 7/22/2022 A major change in sentiment yesterday and so far, this morning. Yesterday kind of out of the blue the 10 yr. note rate declined 15 bps and at 8:30 am ET this morning

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Initial Weekly Jobless Claims continues to climb

Published Date 7/21/2022 TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all

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Markets remain calm despite historic inflation

Published Date 7/20/2022 US equity markets had a stellar day yesterday pushing interest rates higher and MBS prices a little lower. This morning the stock indexes started weaker; interest rates declined. Can’t put two days together

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Mixed housing data leaves markets in a neutral position

Published Date 7/19/2022 TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all

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