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Mortgage News Daily

Mortgage Rates Back up to Recent Highs

Posted To: Mortgage Rate Watch

Mortgage rates moved higher at a quicker pace today, following the release of the Minutes from the most recent Fed meeting. But correlation isn't necessarily causality in this case. The Minutes provide a more detailed account of the Fed meeting that resulted in September's rate hike. That rate hike was foregone conclusion and the Fed has been a relative open book in the intervening 3 weeks. In other words, there wasn't bound to be much by way of surprises. Even so, investors are always looking for clues in this more robust snapshot of the Fed's decision-making process. As such, it has the potential to cause some market volatility . There was market volatility today--especially for bonds (which directly affect mortgage rates). It's debatable whether it was purely a function of the Fed. More...(read more)

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MBS RECAP: Fed Proves to be Mere Speedbump For Bond Sellers

Posted To: MBS Commentary

Hindsight really is 20/20, and foresight wasn't too bad either. Either way, the picture is becoming clearer as bond yields move back toward recent highs in the wake of today's Fed Minutes. Let's start with the foresight . We'd been expecting (or at least entertaining the strong possibility) bonds to weaken earlier this week in the event the stock market found its footing. Stocks found that footing yesterday, but bonds didn't panic too much. My conclusion from yesterday's recap was that "bond traders could be waiting to make their move until tomorrow afternoon's Fed Minutes," or that we were getting a temporary boost from somewhere. Today's uneventful Fed announcement (stocks closed right at pre-Fed levels and bonds didn't really make a big move...(read more)

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Housing Construction Down But Not Out

Posted To: MND NewsWire

All three reports on residential construction activity in September were disappointing, but no more so than any of the other housing data that speaks to the ongoing process of leveling-off. While there had been some erosion expected from the August numbers, the actual data did not meet analysts' expectations. Upward revisions to August permitting took some of the sting out of that report, but the opposite happened with housing starts. Results were particularly poor in the South, likely resulting from the impact of Hurricane Florence . Permits for residential construction were issued at a seasonally adjusted annual rate of 1,241,000 units. This is 0.6 percent lower than the August estimate of 1,249,000 and 1.0 percent below the annual rate of 1,254,000 the previous September. The August number...(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

Email: barbara@thehouseofsold.com

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