Currently down 22 bps, rates jump this afternoon due to deteriorating market conditions.
This makes 6 consecutive days of rate increases.
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Top of the morning to everyone! So this morning’s economic reports swung mortgage rates in the direction you’re not wanting to hear. The PPI (Producer Price Index- measures wholesale inflation) came in higher than expected, and the NY Empire manufacturing index came in much lower than expected. Since we’ve seen the hits this morning, there would be no [...] Currently down 16 bp (and surprisingly so), there is no movement in stocks, bonds, or oil today. Doesn’t look like there will be a risk to float until tomorrow, but realizing all the volatility that has been going on lately, if it was me, I would lock in your loan. Tomorrow the economic calendar has jam-packed with [...] This morning mortgage rates should open a little bit higher by about .125%. Currently down about 25 bp and in negative territory, MBS opened lower this morning due to Retail Sales opening up to 1.3% and Retails Sales Ex-Auto at 1.2%- both higher than expected. The Consumer Sentiment Index just came out as well and that’s [...] Morning all, currently down about 6bp for the morning. There’s no economic reports coming out today, however, MBS started in negative territory early in the morning and has rebounded back to even levels We’re attempting to hold above the 25 DMA (Day Moving Average), and are nearing the 1st level of resistance, so I think today should [...] MBS is in the red since rates came out this morning. The auction results came back pretty good, but MBS got hit pretty hard. Currently up 16 bps for the day, however down 31 since morning rates came out which caused rates to go up earlier today. Hope you took the lock advice earlier! |
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