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Posted To: MBS CommentaryToday's news was largely out yesterday: the Fed will probably reevaluate their exit strategy last spelled out in 2011--yes, the 2011 that was 3 years ago . Clearly, the state of the global economy was different in many ways then, so a reevaluation is scarcely a surprise. The key issue suddenly seems to be that of reinvesting the principal payments from the Fed's a
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Forecasters predict an improving economy. What will happen to interest rates?
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Posted To: MBS CommentaryToday was a good day for both MBS and Treasuries. Not only that, but it was good right from the start (courtesy of a positive overnight session) and never got bad. It's not too common to see 10yr Treasuries rally for 2 straight days into an auction with no meaningful pull-back. The fact that this happened today, AND that the auction was still impressively strong is a
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A first-time homebuyer's inexperience can cause some costly mistakes.
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Posted To: Mortgage Rate WatchMortgage rates built on yesterday's strength and continued lower today. After lenders released rate sheet improvements in the afternoon, the average offering was right in line with the low rates seen on February 13th or 6th. While Monday's run up to 1-month highs briefly shifted the most prevalently quoted rates an eighth of a percentage point higher, the past 2 days
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Should you rush to get a mortgage, or take your time? Both, sorta. But don't panic.
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Posted To: MBS CommentaryDespite a solid day of volume and fairly noticeable mid-day bout of weakness, not much truly "happened" for bond markets today. There was plenty of reason to suspect that the Philly Fed data would come in weaker than expected (why forecasters didn't see those reasons is beyond us), but when it did just that, both stocks and bonds seemed to pause, look at eac
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See rates from our survey of CDs, mortgages, home equity products, auto loans and credit cards.
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Posted To: MBS CommentaryOn a scale of 1-10, with 10 being the best case scenario for bond markets, today was 6 . It probably stood very little chance to be much more than a 7 or an 8, but a very real chance to be a 2-3. In other words, we dodged a bullet , but remain under fire. Retail Sales was quite a bit weaker than expected--notably affecting many firms' running estimates of GDP--and Job
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Should you rush to get a mortgage, or take your time? Both, sorta. But don't panic.
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