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Mortgage News Daily

Mortgage Rates Sideways to Slightly Higher

Posted To: Mortgage Rate Watch

Mortgage rates were sideways to slightly higher today, depending on the lender. Underlying bond markets suggested a bit more movement, and that will likely be reflected in tomorrow morning's rate sheets unless bonds improve overnight. In other words, effective rates are just a bit lower this afternoon than bond market trading levels would imply. This happens fairly often when bonds move during the day, but not by a wide enough margin to prompt mortgage lenders to reissue the day's rate sheets. All that having been said, the change would still be fairly minimal in the bigger picture, with most any lender continuing to quote the same interest rate (just with slightly higher upfront costs). After dropping at the best pace in more than a month to the lowest levels in roughly a month on Friday,...(read more)

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MBS RECAP: Political Headlines Cause Volatility in a Narrow Range

Posted To: MBS Commentary

If the only things you could observe about today's bond trading were volumes and "buy vs sell," there were a few moments where things got fairly interesting --especially after 2pm. That's when the biggest volume and the biggest movement of the day occurred. While there were several headlines in play at the time, it was Trump's off-the-cuff reference to a surprise economic development bill that would be announced "later on," after sufficiently focusing on "tax cuts and some other things right now," that most clearly rocked bond markets. "Rocked" is a relative term, to be sure. If you wanted to talk up the headline, you could point out that it resulted in a bigger single minute of volume in Treasury Futures than last week's very important...(read more)

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MBS Day Ahead: Bonds Can Absorb Some Weakness Without Derailing The Trend

Posted To: MBS Commentary

It looks like it will be touch and go for bonds as the week begins. If yields or technicals touch certain overhead ceilings, you should go lock your loans. If you're up to speed on Friday's technical victory, you're equipped to understand this week's outlook. If you're not, here's a brief recap. We've basically been waiting for bonds to show us a bigger commitment to gains after a few half-hearted attempts to break the shackles of the sell-off that began on 9/11/17. Friday finally delivered the first technical "victory" with trading levels breaking below the 200-day moving average (also the high-volume, high yield mark from the big "tax plan day" sell-off at the end of September). We'd also been hoping to see MACD (the bottom indicator on...(read more)

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Barbara Jenkins
Loganville, GA 30052

Direct: 678-639-0700
Mobile/Text: 404-401-0569

Solid Source Realty
Corporate office
10900 Crabapple Road, Roswell GA 30019
Office: 770-475-1130 Ext 4769

Fax:888-607-0732
Email: barbara@thehouseofsold.com

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