Posted on Tuesday, 30th June 2009 by chrisjones

Markets: Mortgage-backed securities are down 9bps, which is nothing.  We were down 44 at one point today, but we’ve crawled back on the shocking news that most people think the economy is crap.  Rates are still drifting down slowly.  We’re in the low 5% range on most everything as long as you have good credit. [...]

Tags: mortgage rates, RateWatch, utah broker, utah mortgage rates
Posted in Rate Watch | Comments (0)

Posted on Thursday, 21st May 2009 by chrisjones

Market:  We got whacked today by a report out of CreditSuisse that speculates that the Fed will slow down its buying of mortgage-backed securities in order to conserve its cash, so that it can keep rates lower longer.  This is speculation.  I think they’re wrong.  This doesn’t matter at all, because the markets spooked and [...]

Tags: mortgage lending, mortgage rates, RateWatch
Posted in Rate Watch | Comments (0)

Posted on Tuesday, 7th April 2009 by chrisjones

Quick Market Read: Flat and slightly up for mortgage-backed securities, reversing last week’s trend.  Rates holding just under 5% for most programs.  It’s a short week for bonds because of Easter, so they’ll only trade until Thursday.  Fed buying is outmuscling the market, and there is no significant economic news this week. Today’s Nugget: CNN [...]

Tags: CNBC, mortgage rates
Posted in Blog & News, General, Rate Watch | Comments (1)

Posted on Thursday, 19th March 2009 by chrisjones

Yesterday the Fed announced a couple of things of critical import to the mortgage world.  One, it is not doing much of anything with the Fed rate for the forseeable future.  There is not going to be a rush to raise interest rates even if the economy improves dramatically, and there’s no reason to think [...]

Tags: Fed, MBS, mortgage rates
Posted in Blog & News, General, Rate Watch | Comments (0)

Posted on Friday, 6th February 2009 by chrisjones

Here’s the thing.  Markets have displayed a huge amount of volatility over the past several months.  Where once mortgage-backed securities (those things that actually control mortgage rates) would trade in a 35bp range on an average day in 2006, today we have 100 bp days all the time, and it’s not all that unusual.  At [...]

Tags: Fed, mortgage rates, stimulus
Posted in Rate Watch | Comments (0)