Mortgage Rates: Setback Survived. For Now...

After experiencing a scary setback earlier in the week, home loan borrowing costs improved again today as a "flight to safety" continued to benefit bond yields. A "flight to safety" happens when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds, so they allocate their money into risk-free government guaranteed U.S Treasury debt to provide a safe-haven and an investment return. As benchmark Treasury yields fall on "flight to...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Bullet Dodged

Home loan borrowing costs took a beating yesterday. The bond market's behavior was so unfriendly that Best Execution mortgage rates nearly shifted higher as a result. The main motivation behind this unfavorable directional display was a significant rally in stocks. Although this market event didn't break any long-term positive trends, it was certainly scary enough to make one question the strength of those positive trends. Fortunately that skeptical stress was relieved today. Stocks erased all of...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Best Ex Under Pressure

The trend of increasing home loan borrowing costs that began last Thursday continued today. Best-Execution mortgage rates are on the verge of shifting higher as a result. We'd still describe this current weakness as the longer term rates rally taking a "breather" after two months of strong improvements. Perhaps it's more appropriate to say that the term "breather" still applies given the periodic pull-backs normally seen during extended rallies. Although recent losses don't necessarily break the...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Questioning the Rally

After finally managing to topple " The Wall ", the mortgage rate rally stalled and went sideways last week. We'd describe this pause as mortgage rates taking a "breather" in the wake of a 2-month rally. The sideways shuffle seen last week serves as a reminder of the threats faced by home loan borrowers when floating a loan on a short-term timeline. The market doesn't always act the way you'd expect it to and rallies don't last forever. Investors always end up finding a way to question positive progress...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: See the Sideways Shuffle

After tearing down "The Wall" last Friday, the mortgage rate rally stalled and went sideways this week. We'd describe this pause as mortgage rates taking a "breather" in the wake of a 2-month rally. If you're looking for a deeper explanation, read THIS POST on "auction concessions". The sideways shuffle seen over the past five days serves as a reminder of the threats faced by home loan borrowers when floating a loan on a short-term timeline. The market doesn't always act the way you'd expect it to...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Improvements Erased

After taking a breather early in the week, home loan borrowing costs resumed their rally yesterday. With those loan pricing improvements, conventional 30-year fixed mortgage rates were teetering on another shift lower in "Best Execution".... That didn't happen today. In fact, the exact opposite happened. All of yesterday's improvements were erased, leaving loan pricing essentially unchanged over the last three days. This serves as a reminder of the threats home loan borrowers face when floating a...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Rally Resumes

After taking a brief breather early in the week, home loan borrowing costs have resumed their rally. With today's loan pricing improvements, conventional 30-year fixed mortgage rates are teetering on another shift lower in "Best Execution". CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is 4.50%. Aggressive 4.375% quotes have been reported but may involve increased closing costs in the form of origination fees. This could be worth it to applicants who plan to keep...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Rally Takes a Breather

Mortgage rate watchers were reminded once again today of the threats they face when floating a loan on a shortened timeline. Although consumer rate quotes were able to recover from early morning weakness, just like they did yesterday, home loan borrowing costs have failed to make positive progress since "The Wall" came crashing down last Friday. The positive big picture tone in the bond market has been put on pause. We believe this stubborn behavior is factor of "debt auction concessions". CURRENT...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Debt Auctions Slow Rally

"The Wall" was seen wavering last Wednesday, teetering in its most precarious position this year. But we needed more proof that it was ready to be toppled before declaring it had been torn down. That confirmation was granted by an unexpectedly weak Employment Situation Report on Friday. This data validated fears that the economy is not recovering at the pace previously thought. As a result, " The Wall " has fallen, paving a path for a potentially significant shift lower in home loan borrowing costs...

View: Front Page | Headline Viewer

»View More Video News

Mortgage Rates: Tear Down This Wall!

On Wednesday we witnessed the second stage of a potentially significant shift lower in home loan borrowing costs. "The Wall" was wavering, teetering in its most precarious position this year, but we needed more proof that it was ready to be toppled. That confirmation could only be granted by today's high-risk event: The Employment Situation Report. We needed to reinforce the rally with a weak jobs report. And that's exactly what we got..... Job growth in May was much weaker than expected. The April...

View: Front Page | Headline Viewer

»View More Video News