The Employment report again fell short of expectations, and MBS prices jumped to a high shortly after its release. The reaction was limited by questions about the impact of bad weather, however, and MBS prices quickly gave up roughly half of the early gains. Against a consensus forecast of 185K,
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02/07/2014
After declines yesterday, it has been a quiet morning ahead of tomorrow's Employment report. Weekly Jobless Claims dropped to 331K, which was very close to expectations. Fourth quarter Productivity rose to 3.2%, above the consensus of 2.5%. The December Trade Deficit was larger than expected. The
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02/06/2014
We are currently riding a nice trend for mortgage rates, but history has taught us not to take these trends for granted. A big miss on the ISM Manufacturing Data has lifted Mortgage Backed Securities this morning. Construction Spending came in at expectations. No further economic data will be re
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02/03/2014
A decline in stocks has lifted Mortgage Backed Securities this mornng after a great day yesterday. Today's economic data had little impact. December Core PCE Inflation increased 0.1% from November, matching the consensus, and it was just 1.2% higher than one year ago. Personal Income was flat, wh
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01/31/2014
This morning, fourth quarter GDP dropped from a strong 4.1% in the third quarter to 3.2%, which was above the consensus of 3.0%. Weekly Jobless Claims rose to 348K, above the consensus of 325K. Pending Home Sales Index came in well short of expectations. The reaction to today's data was small, bu
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01/30/2014
Ahead of today's Fed announcement, the emerging markets have stolen the spotlight. The combination of slower growth in China and reduced Fed bond purchases could lead to trouble for emerging markets such as Turkey and South Africa, and these concerns have dragged down global stock markets. In
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01/29/2014
Despite a big shortfall, there was little reaction to today's Durable Orders data. The Dow is up 90 points. Consumer Confidence came in slightly above expectations. The net result has mortgage pricing +/- 0.125 to Friday's close. This daily mortgage interest rate report is designed to provide Bor
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01/28/2014
On the heals of a strong week, we begin our Monday with significant volatility. See the charts below for details. 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
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01/27/2014
Although there has been very little economic news this morning, Investors are heavily gravitating towards safer assets, including Mortgage Backed Securities. The Dow is down 160 points, and mortgage pricing is IMPROVING. The result of this data is a market opening of 0.250 BETTER to the points/cr
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01/24/2014
Weaker than expected manufacturing data in China has hurt global stock markets and lifted Mortgage Backed Securities this morning. Weekly Jobless Claims and Existing Home Sales came in close to expectations, while Leading Indicators came in below. No further economic data will be released today.
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01/23/2014
