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MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates. We started with slightly higher rates early Monday morning as global equities had a solid showing. US and China trade tensions continued to dominate headlines and swung stocks back and forth. Producer prices rose 0.3% versus the expected 0.2% increase. … Continue reading MIG Market Watch, April 16th, 2018
MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates. We started with higher rates early Monday morning but that reversed as stocks stumbled. Global equities were shaken as US and China trade tensions escalated. The Institute for Supply Management (ISM) printed at 59.3 which did not move rates much … Continue reading MIG Market Watch, April 9th, 2018
MARKET COMMENT Mortgage bond prices finished the week higher which put downward pressure on rates. Stocks were very volatile as trade war fears subsided and renegotiated trade deals emerged. The economic data was mixed which pushes additional Fed rate hikes out in time. Consumer confidence was 127.7 versus the expected 130 reading. Q4 GDP was … Continue reading MIG Market Watch, April 2nd, 2018
MARKET COMMENT Mortgage bond prices finished the week mixed with conventional prices near unchanged on the week and government prices lower. Rates fell the first portion of the week ahead of the Fed meeting. The Fed raised rates as expected but the projection of three additional hikes later this year was countered by talk of … Continue reading MIG Market Watch, March 26th, 2018
MARKET COMMENT Mortgage bond prices finished the week higher which kept rates in check. Rates fell the first portion of the week amid tame consumer inflation data. Consumer prices rose 0.2% as expected. The Core, which excludes volatile food and energy prices, rose 0.2% as expected. Retail sales fell 0.1%. Analysts expected an increase of … Continue reading MIG Market Watch, March 19th, 2018
MARKET COMMENT Mortgage bond prices finished the week lower which pushed rates slightly higher. Rates were higher the first portion of the week. The trade deficit was higher than expected. Productivity was unchanged and labor costs rose 2.5%. Analysts expected a slight decrease in productivity and a cost increase of 2.1%. ADP payrolls showed the … Continue reading MIG Market Watch, March 12th, 2018
MARKET COMMENT Mortgage bond prices finished the week higher which helped rates remain near unchanged to slightly lower. Rates were volatile almost the entire week. We started the week with rates improving following weaker than expected data. New home sales were 593K versus the expected 645K. That reversed Tuesday with stronger than expected consumer data. … Continue reading MIG Market Watch, March 5th, 2018
MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates amid continued volatility. Rates were relatively stable the first portion of the week. That trend quickly evaporated in the wake of the Fed minutes which pointed to future rate hikes. Weekly jobless claims printed at 222K and continuing claims, a … Continue reading MIG Market Watch, February 26th, 2018
MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates amid continued volatility. Rates were higher throughout most of the week as inflation fears dominated trading. Those fears were realized when the consumer and producer inflation readings came in higher than expected. Producer prices rose 0.4% as expected. However, the … Continue reading MIG Market Watch, February 19th, 2018
MARKET COMMENT Mortgage bond prices finished the week near unchanged despite significant volatility. Rates fell Tuesday after the DOW got crushed and closed down 1150 points. The U.S. ran a trade deficit of $53.1B which was near expectations. Rates shot higher Thursday morning in response to stronger employment data. Weekly jobless claims printed at 221K … Continue reading MIG Market Watch, February 12th, 2018
MARKET COMMENT Mortgage bond prices finished the week sharply lower which caused rates to skyrocket. Rates were worse Monday morning as traders positioned themselves ahead of the employment data. Personal income rose 0.4% as expected. Spending rose 0.4% versus the 0.5% increase. PCE core inflation rose 0.2% as expected. Consumer confidence was 125.4 versus the … Continue reading MIG Market Watch, February 5th, 2018
MARKET COMMENT Mortgage bond prices finished the week with rates near unchanged despite significant volatility throughout the week. Rates were worse Monday morning in carryover from the prior week amid no data. This trend reversed Tuesday in response to the end of the U.S. government shutdown. Stock strength Wednesday resulted in some additional MBS selling. … Continue reading MIG Market Watch, January 29th, 2018
