Published Date 10/23/2018
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 day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.
Mortgage rates are moving lower so far today. The MBS market ended unchanged yesterday. This resulted in rates moving sideways for the day. The rates experienced low volatility yesterday.
Richmond Fed: The October reading was lighter than expected, coming in at 15 vs est of 25.
Treasury Dump: We kick off three straight days of dumping our national debt with today's short-term 2-year note.
Fed: Today we will hear from Neel Kashkari, Raphael Bostic, Robert Kaplan, Charles Evans, and Esther George.
Germany: PPI YOY 3.2% vs est of 2.9%.
Great Britain: The Bank of England's Governor Mark Carney will speak.
After yesterday's sideways movement in rates, we're seeing rates tick lower today as the stock market dips lower. This is likely to continue through today with a good deal of volatility. On the flip sideway, We don't expect rates to significantly push out of the current tight range.
If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.
Source: TBWSAll information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
“Equal Housing Lender. NEXA Mortgage, LLC NMLS 1660690. I am a licensed mortgage originator, NMLS # 630337, and licensed to originate mortgage loans in the state of Arizona, Arkansas, California, Florida, Georgia, Illinois, Missouri, Nevada, Tennessee, and Texas. To learn more, visit my NEXA Mortgage website at http://lillianwong.net."
NMLS: 630337
NEXA Mortgage
3100 W Ray Rd Ste 201, Chandler AZ 85226
Company NMLS: 1660690
Office: 480-650-5412
Cell: 480-650-5412
Email: lwong@nexamortgage.com
NMLS: 630337
Cell: 480-650-5412
3/28/2024
The March bellwether Chicago PMI cratered down to 41.4 versus estimates of 46.0.... view more
3/27/2024
Ever wonder who came up with the term “spring cleaning?” Probably some ancient d... view more
3/27/2024
Markets started the day fractionally better, the 10 year note at 8 am ET 4.22% -... view more
3/26/2024
Water pressure is a big deal. Where we want it most, however, is in our homes, s... view more
3/26/2024
Headline February Durable Goods Orders were up 1.4% versus estimates of 1.3%. Ex... view more
3/25/2024
While agents are still sorting out what all this means for their business, the m... view more
3/25/2024
These are the three areas that have the greatest ability to impact rates this we... view more
3/25/2024
At 9 am ET the 10 year note +3 bps, MBS prices unchanged. Last week the 10 yield... view more