Mortgage Update September 14 2015

“Mortgage Bonds are modestly higher ahead of this week’s big event, the Thursday release of the Fed’s monetary policy statement at 2:00 p.m. ET.
There were no economic reports released today, but the rest of the week’s calendar is packed with market moving events. I am recommending carefully floating, as Mortgage Bonds seem to be stabilizing. However, sentiment can quickly reverse, especially with the Fed statement looming later in the week. If anything changes, I will get back to you. Have a great week!”

Mortgage Update September 11 2015

“Volatility continues – Mortgage Bonds are modestly higher this morning as Stocks and crude oil prices fail to follow through on yesterday’s rally higher. In economic news, the Producer Price Index, which measures wholesale inflation, was unchanged in August. With Stock prices under pressure and Mortgage Bonds trying to stabilize, I am recommending carefully floating. However, the market is still volatile and sentiment can quickly reverse. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update September 10 2015

“Mortgage Bonds are modestly lower as Stocks try to rebound after yesterday’s losses. Recently, Stock prices have been under pressure and have moved lower from the recent all-time highs, but Mortgage Bonds have not been able to push higher. I will continue to recommend locking, for I feel that Mortgage Bond prices could move lower from current levels. If anything changes, I will get back to you.”

Mortgage Update September 9 2015

“Mortgage Bonds are drifting lower as Stocks continue to build on yesterday’s big rally. The Stock rally is being fueled by an announcement that China will enact additional stimulus measures to shore up its slowing economy. The news sent global Stock markets higher. With Mortgage Bond prices continuing to come under pressure, I am recommending locking until I can see a clear bottom forming in the Bond markets. If anything changes, I will get back to you.”

Mortgage Update September 8 2015

“Mortgage Bonds begin the holiday shortened week lower, being pressured by a rebound in Stocks. Stocks are rallying on expectations that the China central bank will enact further stimulus measures to bolster its slowing economy. With the recent failure for Mortgage Bonds to break above a key technical overhead resistance level, prices have turned lower. I will continue to recommend locking until such time that I can see some positive signs that can push Mortgage Bond prices higher. Have a great week!”

Mortgage Update September 4 2015

“August Non-farm Payrolls came in weaker than expected, though some of the components within the report did have positive numbers. The Unemployment Rate fell to its lowest level since March 2008, while wage growth increased, stoking some inflation fears. Mortgage Bond prices are modestly lower, being weighed down by technical factors, despite big losses in the Stock markets. I will continue to recommend locking, until such time I can see some stabilization in Mortgage Bond prices. All capital markets are closed on Monday in observance of Labor Day. Have a great weekend!”

Mortgage Update September 3 2015

“Mortgage Bonds are lower ahead of tomorrow’s highly anticipated August Jobs Report. Today’s higher than expected Weekly Initial Claims data had little impact on trading as investors zero in on tomorrow’s big headline news in the jobs numbers. With Mortgage Bond prices near the highs seen in April and with the risk associated with tomorrow’s labor market report, I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update September 2 2015

“Mixed economic data along with Stocks rebounding after yesterday’s steep losses are causing Mortgage Bonds to drift lower this morning. In economic news, the ADP Private Payrolls report came in below expectations, while worker productivity rose more than expected. With no clear catalyst emerging to push Mortgage Bond prices higher and with the big headline risk associated with Friday’s August Jobs Report, locking is recommended.”

Mortgage Update September 1 2015

“Mortgage Bonds are being boosted by plunging Stock prices, as volatility continues to reign supreme. In housing news, CoreLogic reported that home price gains remained steady year-over-year, as well as month-over-month. I am recommending carefully floating, but in this fast moving market sentiment can quickly reverse. If there are any sudden changes, I will get back to you.”

Mortgage Update August 31 2015

“Mortgage Bonds are getting a slight bounce from lower Stock prices to begin the week. The fear of a September rate hike is spooking Stocks as the volatility continues to dominate market fluctuations. The week features the closely watched August Payrolls Report, which will be released Friday morning at 8:30am ET. I will continue to recommend carefully floating, but sentiment can quickly reverse. If anything changes, I will get back to you. Have a great week!”