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Three news feeds are on this page. Mortgage Daily News is below, followed by the Christian Science Monitor, and finally "Your Money" articles from the New York Times. I hope you enjoy these perspectives. |
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| Rates Seen Staying Higher For Longer. Blame Canada? | ||
| 6/9/2023 3:20 PM | ||
| In a surprising turn of events, this week"s biggest market mover for interest rates was a policy announcement by the Bank of Canada (BOC). The event was credited for prompting a re-think of the US Federal Reserve"s rate outlook. Specifically, the BOC hiked rates despite about half the market believing it would hold steady. While the odds tha...Read More | ||
| Canada Doesn"t Really Matter. Bring on CPI and The Fed | ||
| 6/9/2023 2:57 PM | ||
| Canada Doesn"t Really Matter. Bring on CPI and The Fed The day began with a hunt for the mystery market mover behind the 8:30am spike in Treasury yields. Once it was revealed to be Canada"s jobs report, US traders could only laugh as the two Canadian events that had a visible impact on the US bond mar...Read More | ||
| Accounting, Digital, Broker Comp Tools; FHA, VA, USDA Developments; Why Rates are Stubborn | ||
| 6/9/2023 9:30 AM | ||
| Imagine my surprise at finding tag (like on the playground) is an organized sport. Imagine my surprise at finding two gas stations at the same intersection yesterday in Truckee, California with two different prices for unleaded! Rather than wait for the CFPB to tell me that I could save money by going to the cheapest station, as it did by paying fo...Read More | ||
| Canada? Again?! | ||
| 6/9/2023 8:46 AM | ||
| This otherwise sleepy Friday began with the sort of clearly defined spike in volume and yield that often accompanies big ticket economic data. With the time of the spike being 8:30am (the headliner time slot, to be sure), market watchers refreshed their econ calendars to make sure nothing was missing. Only those with more internati...Read More | ||
| Mortgage Rates Recover After Downbeat Data | ||
| 6/8/2023 3:19 PM | ||
| Economic data is one of the most basic and reliable inputs for the bond market. The bond market, in turn, dictates day to day interest rate movement. In general, weaker economic data pushes rates lower and that was today in a nutshell. Weekly Jobless Claims came in at the highest levels since 2021 and the bond market reacted immediatel...Read More | ||
| Claims Data Completely Erases At Least One Day of Higher Rate Expectations | ||
| 6/8/2023 3:17 PM | ||
| Claims Data Completely Erases At Least One Day of Higher Rate Expectations There have been been several days recently that have resulted in financial markets upping the odds for the Fed keeping rates higher for longer. The most recent spike in those expectations followed yesterday"s BOC (Bank of Canad...Read More | ||
| Jobless Claims Stoke The Rally Fires For Bonds | ||
| 6/8/2023 11:04 AM | ||
| If you like low rates, you are often unfortunately rooting for negative economic data. You"re not a bad person. Bonds are simply a hedge against economic weakness. Much like watching sausage being made, you don"t have to like watching people file for unemployment in order to appreciate the impact it has on rates. Case i...Read More | ||
| HELOC, Affordable Housing, Servicing, QC, MSR Valuation Products; New Appraiser Education Standards? | ||
| 6/8/2023 10:09 AM | ||
| There’s a lot going on, and not only jawboning about a potential Fed rate increase next week. We have the smoke drifting down from Canada and slowing or stopping flights in the Northeast. The Wall Street Journal reports that China and Cuba have signed an agreement for a Chinese eavesdropping station in Cuba. For rate watchers, Trepp has come out wi...Read More | ||
| Mortgage Rates Highest in More Than a Week | ||
| 6/7/2023 3:03 PM | ||
| Mortgage rates continue to operate in a fairly narrow range but we"ve been mostly moving in one direction inside that range so far this month. Late last week, it was the strong job creation announced on Friday that pushed rates higher. This week has been less volatile by comparison, but rates remained under pressure to move higher today...Read More | ||
| BOC Warns US Rate Market Against Complacency | ||
| 6/7/2023 2:48 PM | ||
| BOC Warns US Rate Market Against Complacency US rate traders are pretty sure they have the Fed figured out after two separate Fed speakers used the word "skip" in speeches last week. There"s a low chance of a rate hike next week, and a high chance that rates remain high through 2023. Today"s BOC...Read More | ||
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