Today's mixed economic data provided little direction for investors this morning. December Housing Starts declined 10% from the 5 year high seen in November to an annual rate of 999K units (which was still above the consensus of 985K units). Building Permits fell short of expectations however. De
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01/17/2014
December CPI inflation rose 0.3% from November, matching the consensus projections. Core CPI, which excludes food & energy, increased 0.1% (also matching the consensus). Weekly jobless claims declined slightly to 326,000, which was also very close to expectations. The net result is an average 0.2
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01/16/2014
Stronger than expected economic data has caused Mortgage Backed Securities to move lower this morning. The Empire State manufacturing index surged to 12.5 (well above the consensus prediction of 4.0)...its highest level since May, 2012. December PPI inflation rose 0.4% from November, matching the
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01/15/2014
We are on a nice run with mortgage pricing over the past 2 days. Monday netted a 37 basis point improvement. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are prope
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01/13/2014
Nice opening today for mortgage rates! We are approximately 0.250 - 0.375 BETTER in terms of any points/credits associated with each interest rate option. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates a
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01/13/2014
Wow...big disparity today with the Employment report! Against a consensus forecast of 200K jobs added, we only ended up adding 74K jobs in November. This was the smallest monthly increase in jobs since January, 2011. Given that several labor market indicators showed greater strength in December,
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01/10/2014
It has been a fairly quiet morning thus far, although we have opened slightly worse than yesterday's closing. Weekly Jobless Claims declined to the consensus projection of 330K. The European Central Bank (ECB) made no changes in rates, while the ECB President suggested that the ECB will hold rat
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01/09/2014
Mortgage Backed Securities moved lower this morning after the release of stronger-than-expected labor market data. The ADP forecast for private sector job gains in December was 238K (above the consensus of 205K). The Dow is down 70 points. The result was an opening of approximately 0.125 WORSE to
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01/08/2014
It has been a fairly quiet morning thus far regarding market trading. The November Trade Deficity declined to $34.3 Billion (far below the consensus of $40.0 Billion...and the lowest level since October, 2009). Janet Yellen was confirmed by the Senate last night to be the next President of the Fe
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01/07/2014
After rallying Friday afternoon, Mortgage Backed Securities have continued to improve following this morning's economic data. The ISM Services Index came in worse than expected, while factory orders were slightly above the consensus. Pricing has opened 0.125 - 0.250 better to all points/credits a
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01/06/2014
