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Market Comment Mortgage bond prices finished the week higher which put downward pressure on rates. The Federal Reserve left rates unchanged but doubled their MBS purchase tapering which resulted in some short-term volatility Wednesday afternoon. The market recovered the latter portion of the week as the Fed continued their multi-billion-dollar daily purchases which are expected … Continue reading MIG Market Watch, December 20th
Market Comment Mortgage bond prices finished the week mixed with government loans worse and conventional loans near unchanged. The data was mixed. The trade deficit was $67.1B which was about as expected. Productivity fell 5.2% vs the expected 4.8% decline. Weekly jobless claims were 184K vs 223K. Higher consumer inflation readings resulted in some market … Continue reading MIG Market Watch, December 13th 2021
MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates. Fed Chair Powell indicated it was time to remove the “transitory” inflation descriptor. Market participants prepared for additional Fed tapering of Treasury and MBS purchases in the months ahead. The Fed Beige Book reported “Prices rose at a moderate to … Continue reading MIG Market Watch, December 6th 2021
Market Comment Mortgage bond prices finished the week lower which put upward pressure on rates. Inflation fears were flamed in response to projections that rates will head higher into the first part of next year. However, Treasury Secretary Yellen indicated she sees tame inflation by the latter part of next year. Trading was volatile from … Continue reading MIG Market Watch, November 29th, 2021
Market Comment Mortgage bond prices finished the week higher which helped rates improve a little. Trading was volatile from day to day as inflation fears weighed heavily on the financial markets and consumers. We started the week terribly with upward pressure on rates Monday and Tuesday in response to solid data. Retail sales rose 1.7% … Continue reading MIG Market Watch, November 22nd
Market Comment Mortgage bond prices finished the week lower which resulted in higher rates. We started the week relatively calmly with slight improvements Monday and Tuesday. Producer prices rose 0.6% as expected. However, the core which excludes volatile food and energy prices only rose 0.4% vs 0.5%. Weekly jobless claims were 267K vs 260K which … Continue reading MIG Market Watch, November 15th, 2021
Market Comment Mortgage bond prices finished the week higher which resulted in rate improvements. We started the week with positive movements. Stronger employment data mid-week reversed things a bit and resulted in some temporary upward pressure on rates. ADP payrolls rose 571K vs the expected 400K. Some of the data was tame and did not … Continue reading MIG Market Watch, November 8th
Market Comment Mortgage bond prices finished the week a little higher which resulted in slight rate improvements. Most of the positive movements occurred the first portion of the week. Prices sold off Thursday afternoon and Friday morning which erased a lot of the earlier gains. Inflation remained a major concern for traders, economists, and consumers. … Continue reading MIG Market Watch, November 1st
Market Comment Mortgage bond prices finished the week sharply lower which put significant upward pressure on rates. We started the week on a negative note Monday, remained flat through mid-week, and then worsened the remainder of the week. Inflation remained a major concern for traders, economists, and consumers. Rising gas and grocery prices weighed heavily … Continue reading MIG Market Watch, October 25th
MARKET COMMENT Mortgage bond prices finished the week near unchanged which kept rates relatively flat. We started the week on a negative note Tuesday following the extended holiday weekend. Small positive movements the rest of the week erased those losses and a little more. Tame inflation readings and continued Fed MBS purchases helped with the … Continue reading MIG Market Watch, October 18th, 2021
MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates. We started the week on a positive note Monday but sold off most of the remainder of the week. The Fed continued their billion-dollar daily MBS purchases, but it was not enough to keep rates from rising. Surging global food … Continue reading MIG Market Watch, October 11th, 2021
Market Comment Mortgage bond prices finished the week near unchanged to slightly positive. We started the week on a positive note Monday, sold off Tuesday as Fed officials sparred over inflation, and then rebounded the remainder of the week as the Fed continued their billion-dollar daily MBS purchases to keep rates in check. The data … Continue reading MIG Market Watch, October 4th, 2021
