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MARKET COMMENT Mortgage bond prices finished the week sharply lower which pushed rates higher. Factory orders rose 1.2% versus the expected 1% increase. The trade deficit was $48.5B which was in line with expectations. ADP payrolls increased by 298K. Analysts expected an increase of 190K. Productivity in Q4/2016 rose 1.3% and labor costs rose 1.7%. … Continue reading MIG Market Watch, March 13th, 2017
MARKET COMMENT Mortgage bond prices finished the week sharply lower which pushed rates higher. Rates were stable Monday as the data was in line with expectations. Durable goods orders rose 1.8%. The market became volatile Tuesday afternoon in response to comments from Fed officials. Dallas Fed President Kaplan said the Fed needs to raise rates … Continue reading MIG Market Watch, March 6th, 2017
STEVE KLEBER LEAVE IT TO KLEBER Steve Kleber of Kleber and Associates joins The Housing Hour this week to give us an update from the NAHB 2017 International Builders’ Show. During the three-day event, manufacturers debuted their most innovative products to audiences from around the globe. The K&A team hunted down the most important channel … Continue reading This Week on The Housing Hour: Steve Kleber
MARKET COMMENT Mortgage bond prices finished the week slightly higher which helped rates improve a little. Rates were lower Monday and Tuesday amid continued Greek debt concerns out of the Eurozone. The United States ran a trade deficit of $44.3B in December. Weekly jobless claims printed at 234K and continuing claims, a summation of all … Continue reading MIG Market Watch, February 13th, 2017
MARKET COMMENT Mortgage bond prices finished the week slightly higher which helped rates improve a little. Rates were lower Monday and Tuesday amid weak economic data. Personal income rose 0.3%, expected up 0.4%. Outlays rose 0.5%, expected up 0.4%. The PCE Core inflation reading was 0.1%, expected 0.2%. The Employment cost index rose 0.5% versus … Continue reading MIG Market Watch, February 6th, 2017
MARKET COMMENT Mortgage bond prices finished the week near unchanged which kept rates in check despite some wild volatility. Rates were sharply lower Monday and Tuesday. Existing home sales printed at 5.49M units versus the expected 5.55M units. Stronger than expected housing data Wednesday reversed the improvements. The FHFA Housing Price Index rose 0.5% versus … Continue reading MIG Market Watch, January 30th, 2017
MARKET COMMENT Mortgage bond prices finished the week lower which put sharp upward pressure on rates. Rates were lower Tuesday as Brexit fears reemerged. The improvements and more were quickly erased as inflation fears and solid economic data caused prices to fall and rates to rise. Consumer inflation readings were as expected as the headline … Continue reading MIG Market Watch, January 23rd, 2017
MARKET COMMENT Mortgage bond prices finished the week lower which pushed rates slightly higher. Rates were stable the early portion of the week amid no data. The National Federation of Independent Business reported that the Small Business Optimism Index jumped by the most since the survey began. Foreign appetite for US debt remained strong. Foreign … Continue reading MIG Market Watch, January 16th, 2017
MARKET COMMENT Mortgage bond prices finished the week sharply lower which caused rates to spike higher. Rates increased Monday morning tied to reports of rising oil prices. Producer prices rose 0.4% versus the expected 0.1% increase. The core, which excludes volatile food and energy prices, rose 0.4% versus the expected 0.2% increase. The Fed raised … Continue reading MIG Market Watch, December 19th, 2016
MARKET COMMENT Mortgage bond prices finished the week near unchanged holding mortgage rates in check. Trade remains volatile with large swings occurring on a regular basis. Rates started the week lower as stocks were a little lower Monday and Tuesday mornings. The economy grew at a 3.2% rate in Q3/2016. That data was slightly better … Continue reading MIG Market Watch, December 5th, 2016
MARKET COMMENT Mortgage bond prices finished the week sharply lower which caused rates to surge higher. Market sentiment believes that the economy will expand and cause inflation to rise through deficit spending. Existing home sales were 5.6M versus the expected 5.4M. Weekly jobless claims were 251K versus the expected 243K. Durable goods orders rose 4.8% … Continue reading MIG Market Watch, November 28th, 2016
MARKET COMMENT Mortgage bond prices finished the week sharply lower which caused rates to surge higher. Market sentiment believes that the economy will expand and cause inflation to rise through deficit spending and Trump rolling back regulations enacted under Obama. Retail sales rose 0.8% versus the expected 0.6% increase. The dollar strengthened when interest rates … Continue reading MIG Market Watch, November 21st, 2016
