Archive | October 2014

Weeks Economics News

This Week’s Economic Releases
10:00 AM
Existing Home Sales
7:00 AM
MBA Mortgage Applications
8:30 AM
Consumer Price Index
10:30 AM
EIA Petroleum Status Report
8:30 AM
Jobless Claims
9:00 AM
FHFA House Price Index
9:45 AM
PMI Manufacturing Index Flash
10:00 AM
New Home Sales

Wildest Day in Years for Mortgage Rates

The results are positive overall, but with decided frustrations. The easiest way to sum this up would be to say that bond markets lost more ground today than any other day in more than a year. Fortunately, they’d gained just a bit more before the losses began. In other words, rates ended the day slightly lower, but only after being ridiculously lower earlier today. After just tiptoeing into the high 3’s yesterday, some lenders briefly made it to the 3.625-3.75% range before pulling back up decisively to 3.875%. This remains the most prevalently quoted conforming 30yr fixed rate for top tier scenarios. That’s certainly a victory compared to any other day this year, but potentially disappointing if you happen to compare it to the first half of the day itself.