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Mortgage News Daily

MBS RECAP: Trade Fears Help Bond Rally Extend

Posted To: MBS Commentary

Fresh fears of trade wars pushed stocks and bond yields lower in the overnight session as the White House promised another wave of tariff announcements in the morning. China retaliated by promising its own tariffs and markets slumped accordingly. By "accordingly," I mean they slumped as much as they have for any other trade war headline after the initial shock wore off--i.e. not too terribly much. Case in point, stocks ended up bouncing back and nearly erasing all of the losses. Bonds, on the other hand, got a bit of an extra boost from the overall momentum following 2 decent days of central bank news, as well as weaker economic updates out of Europe overnight. 10yr yields rallied all the way to 2.889 before bouncing up to 2.922% by the close (still 2.4bps lower on the day). MBS underperformed...(read more)

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Mortgage Rates Inch to Week's Best Levels

Posted To: Mortgage Rate Watch

Mortgage rates fell again today, bringing the average rate just slightly lower on the week. Unlike the past 2 days, there were no big ticket calendar events today. Instead, motivation came from market jitters of new tariff announcements and the ensuing retaliation from China. Markets ultimately decided it wasn't the end of the world (yet) and bounced back in the other direction (higher stocks, higher rates) during the 2nd half of the day. Fortunately, the bounce in rates (via the bond market) wasn't big enough to force mortgage lenders to adjust their rate sheets for the worse. That knife cuts both ways though. If bonds were to merely hold flat by the start of Monday's trading, the implication would be for slightly higher rates to begin the day. Loan Originator Perspective Rally makes it time...(read more)

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MBS Day Ahead: Here We Go Bonds, Now, Here We Go!

Posted To: MBS Commentary

Bond markets have their rally caps on after making it through both central bank announcements this week without suffering any crazy damage. In fact, each day brought modest improvements and now today stands the chance of bringing enough of a rally to "confirm" those improvements from a technical standpoint. That's about the size of it at the moment. We're watching and waiting with fingers crossed. It's much the same as a sporting event where our team just made a good defensive stand and now has the ball on offense . They may or may not score, as always, but it's nice to have a chance! The only thing that troubles me about rooting for a bigger rally is that the justification for sustained improvement will be really hard to come by without something changing about the...(read more)

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Barbara Jenkins
Loganville, GA 30052

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

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

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

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