Mortgage Update November 30 2015

“Mortgage Bonds trade near unchanged and remain below resistance as the month of November comes to an end. Later this morning, October Pending Home Sales will be released, but traders and investors are looking ahead to the Friday release on November Non-farm Payrolls. With Stock prices looking to push higher this morning, I am recommending locking until such time that I can clearly see that Mortgage Bonds can push higher. Have a great week!”

Mortgage Update November 27 2015

“The markets are quiet this morning for the holiday shortened session with Mortgage Bonds flat to modestly higher. Mortgage Bond prices continue to stall at resistance levels. I will continue to recommend locking. Have a great weekend!”

Mortgage Update November 25 2015

“Mortgage Bonds continue to trade below resistance and after a spate of mixed economic data, prices are unchanged this morning. Trading volumes will begin to tail off by midday as traders and investors head out to get a jump on the long weekend. I will continue to recommend locking as Mortgage Bond prices can’t seem to put together any meaningful move higher. The markets will be closed tomorrow in observance of Thanksgiving. On Friday, the Bond markets will close at 2:00 p.m. ET and is typically one of the lowest trading volume days of the year with little movement. Stocks will close at 1:00 p.m. ET. Happy Thanksgiving!”

Mortgage Update November 24 2015

“Mortgage Bonds are near unchanged and well off their best levels of the day, despite Stocks moving lower amidst rising global security worries. Reports that Turkish forces shot down a Russian jet has added to the escalating terror threats. In economic news, Gross Domestic Product in the third quarter fell well below the second quarter, while November Consumer Confidence declined from September. A separate report showed home prices saw solid gains year-over-year. In the midst of some Bond friendly news and lower Stock prices, Mortgage Bonds are near unchanged. Locking is recommended.”

Mortgage Update November 23 2015

“Mortgage Bonds opened lower, but have been able to claw their way back to near unchanged levels. In economic news, October Existing Home Sales came in below expectations, but are up year-over-year. I will begin the week recommending carefully floating, for Bonds are still on shaky ground after Friday’s decline. If anything changes, I will get back to you. Have a great week!”

Mortgage Update November 20 2015

“Mortgage Bonds are near unchanged this morning, weighed down by higher Stock prices. There were no economic reports due for release today, so trading could be on the quiet side during the session. Key technical factors continue to support Mortgage Bonds at current levels. I am recommending carefully floating, but sentiment can quickly reverse. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update November 19 2015

“Mortgage Bonds are modestly higher a day after the Fed minutes revealed that a rate hike is most likely on the table next month. Economic data had little impact on trading with Weekly Initial Jobless Claims hovering near levels seen in the early 1970s, while the Philly Fed came in just above expectations. With Mortgage Bond prices trading above a key support level and with Stock prices near unchanged, I will continue to recommend carefully floating. If anything changes, I will get back to you.”

Mortgage Update November 18 2015

“Mortgage Bonds are trading flat to lower this morning, just above a key technical support level. A mixed reading from weaker than expected Housing Starts and positive Building Permits had little impact on the markets. The Fed minutes will be released at 2:00 p.m. ET today. I am recommending carefully floating, but will be mindful that even though the October Fed meeting came before the strong Jobs Report – the minutes could send a ripple in financial markets that requires to be prepared for an unsuspected move.”

Mortgage Update November 17 2015

“Mortgage Bonds are being pressured lower by hotter than expected inflation and wage data this morning. Home builder sentiment slipped in November, which is lending some support to the Bond markets. I will continue to recommend carefully floating, but Mortgage Bonds are on shaky ground and sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update November 16 2015

“Mortgage Bonds are modestly higher to begin the week, following the attacks in Paris last Friday. A weak reading from the November New York State Manufacturing Index is also helping to support Bond prices. I am recommending carefully floating to begin the week. However, sentiment can quickly reverse in this fast moving market. If anything changes, I will get back to you.”