Jack's Morning Update

Daily Rate Briefing: RATES RIDE RALLY We had a mixed finish yesterday with conventional MBS down 4 bps and government up 6 bps. Nothing exciting. But this morning? Whole different story. Conventional is up about 22 bps, government is down around 3, and the stock market is ripping higher. Big…

Daily Rate Briefing: FED HOLDS KEYS We actually ended yesterday in the green — up 9 on Conv and up 6 on Govies — even though the stock market got punched in the gut again. DOW hit for another 557 yesterday but in the green today so far. The week…

Daily Rate Briefing: GREEN BUT CAUTIOUS We’ve actually got a little green on the MBS screen this morning. Not much… but better than staring at red. I’ll take it. The stock market is still taking it on the chin. Traders are waking up to the idea that the Fed may…

Daily Rate Briefing: DATA DUMP COMING Jack is back. My apologies for no updates since November 5th. I had a medical issue that popped up and has now been resolved. Just needed some recovery time and back at the keyboard again! The morning is starting out with a little green…

Daily Rate Briefing: SHUTDOWN AND STABILITY My morning update is coming out a little early this morning due to meetings and it is my hope you have a fantastic day just because you can. Well, yesterday was quite the day. We’re now sitting at day 36 of the government shutdown…

Daily Rate Briefing: LIMITING DATA Yesterday we ended the day down 3 BPS on conventional rates, down 4 on govt rates, up 4 on the 10 year and with the DOW losing 226. All RED. I will say those are red, but they are also very small moves and for the most part ending the day pretty much…

Daily Rate Briefing: VOLATILE WEEK RECAP We had a busy week last week — and unfortunately, not the kind of busy that helped rates. From Monday’s open to Friday’s close, Conventional pricing slid about 16 BPS. If you caught that brief window on Tuesday, you saw the best rates of…

Daily Rate Briefing: THE FOGGY FED Well folks, the big Fed meeting came and went — and just like always, the headlines missed the real story. The Fed did cut rates by a quarter point, but instead of helping mortgage rates, it actually hurt them. Stocks slipped just a bit.…

Daily Rate Briefing: REFI’S ARE KEY Another record-breaking day for the stock markets — Friday, Monday, Tuesday, and now today — the rally keeps rolling. Mortgage bonds were up 9 BPS across the board yesterday, which was great to see. We’re down 3 BPS this morning, but that’s a non-event.…

Daily Rate Briefing: MARKETS BEATING RECORDS Another solid day in the markets, my friends. Mortgage rates saw a small bump — up 9 bps in the Conventional market — while Govies held steady with no movement either way. This morning we are down just a hair in both conv and…

Daily Rate Briefing: MORNING RATE BRIEFING We wrapped up quite a week on Friday. The Dow finished the day at its highest close ever, so if you’re heavy in equities, it might be a good time to take a look at those retirement and investment accounts. Mortgage bonds also ended…

Daily Rate Briefing: HOMEBUYERS BACKING OUT Yesterday we had another stable day in the mortgage markets. Stock markets got hit a little bit yesterday and we seem to go up and down in those markets a little more volatile than the bond market for mortgages. We are down a little…