Purchase Volume Continues Higher Despite Rising Rates

Posted To: MND NewsWire

It would appear that Refis’ time in the sun is listing back towards purchases, as mortgage rates increased for the second straight week and application volume retreated further . The Mortgage Bankers Association’s Market Composite Index, a measure of that volume, decreased 3.5 percent on a seasonally adjusted basis from the week ended April 5. On an unadjusted basis, the Index was down 3 percent. The Refinance Index decreased 8 percent from the previous week and the share of applications that were for refinancing dropped from 44.1 percent down to 41.5 percent. Falling interest rates had driven the refinancing share over 47 percent at the end of March. Meanwhile the volume of purchase applications continues to grow, up 1 percent from the previous week on a seasonally adjusted basis and 2 percent…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Purchase Volume Continues Higher Despite Rising Rates
Purchase Volume Continues Higher Despite Rising Rates

More Buyers, But Builders Remain Cautious; Highest Rates in Nearly a Month

Mortgage rates rose again today, albeit at a slightly slower clip compared to yesterday. Still, that’s little consolidation considering this is the 4th straight day spent moving in that unfriendly direction. The average lender is now back to levels not seen since March 19th. On the bright side, March 19th’s rates were the lowest in more than a year at the time. So what’s going on? In general, the month of March saw the confluence of 2 great things for rates. Not only was there a generally high level of concern/uncertainty surrounding the global economic outlook, but the Fed was also surprisingly helpful. This was a bit of a double-edged sword because the Fed’s helpfulness was predicated on that same sort of concern/uncertainty. In other words, if events unfold in such a way as to ease that
More Buyers, But Builders Remain Cautious; Highest Rates in Nearly a Month
More Buyers, But Builders Remain Cautious; Highest Rates in Nearly a Month

Investors are becoming more defensive, says JP Morgan's Parker

(Please visit the site to view this media)

Stephen Parker of J.P. Morgan Private Bank discusses the markets on CNBC's "Closing Bell."

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Investors are becoming more defensive, says JP Morgan's Parker
Investors are becoming more defensive, says JP Morgan's Parker

Trade easing will support recovery in global economy, says Morgan Stanley chief economist

(Please visit the site to view this media)

Jeff Krumpelman, Mariner Wealth Advisors head of equities, and Chetan Ahya, Morgan Stanley global chief economist, join "The Exchange" to discuss if the markets could reach new level highs.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Trade easing will support recovery in global economy, says Morgan Stanley chief economist
Trade easing will support recovery in global economy, says Morgan Stanley chief economist

'Scare' of global growth slowdown is behind us, says trader

(Please visit the site to view this media)

CNBC's 'Fast Money Halftime Report' team discuss the mid-day markets and if they see a market rally coming.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


'Scare' of global growth slowdown is behind us, says trader
'Scare' of global growth slowdown is behind us, says trader

MBS RECAP: Bonds Keep losing Ground. Defensive Positioning or Something Worse?

Posted To: MBS Commentary

Rates were flat to start the overnight session and didn't bat an eyelash at initial strength in equities markets during Asia-only trading hours. Things changes when European trading got underway with the sizable jump in the DAX (German stocks) coinciding with the first selling streak of the day in US Treasuries. Even then, yields never went any higher than yesterday's highs before correcting a bit. We actually touched unchanged levels at 5:53am, but it was all uphill from there . Without any clear correlation to an event, headline, or related market, bond selling picked up aggressively just after 8am (when a majority of domestic traders begin their trading day). The 10 minutes of volume following the 8:20am CME open dwarfed any other 10 minute block of the day, suggesting that traders…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


MBS RECAP: Bonds Keep losing Ground. Defensive Positioning or Something Worse?
MBS RECAP: Bonds Keep losing Ground. Defensive Positioning or Something Worse?

March US industrial production down 0.1%

(Please visit the site to view this media)

CNBC's Rick Santelli reports on the March industrial production data.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


March US industrial production down 0.1%
March US industrial production down 0.1%

Buyer Traffic Improves, Builders Still Leery of New Home Market

Posted To: MND NewsWire

Builder confidence levels as reported by the National Association of Home Builders (NAHB) remained in the low 60s in April, a space it has now occupied for three months. The NAHB/Wells Fargo Housing Market Index (HMI) a measure of confidence in the market for new homes, rose 1 point to 63, continuing to slowly recover from the three year low of 56 it reached in December. “Builders report solid demand for new single-family homes but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots,” said NAHB Chairman Greg Ugalde. “Ongoing job growth, favorable demographics and a low-interest rate environment will help to modestly spark sales growth in the near term,” said NAHB Chief Economist Robert Dietz. “However, supply-side headwinds…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Buyer Traffic Improves, Builders Still Leery of New Home Market
Buyer Traffic Improves, Builders Still Leery of New Home Market

MBS Day Ahead: Be Careful What You Read and Whom You Trust

Posted To: MBS Commentary

Reading the news this morning, I came across multiple articles with such bogus claims that I feel compelled to rant about it here. All of the offenders (I stopped looking after 3 out of 3 all said the same thing) suggested that the overnight stock surge in Europe FOLLOWED the ZEW economic sentiment survey in Germany. Were stocks higher overnight? Yes! Was there an economic sentiment report in Germany from ZEW? Yes! Are the two things related? You tell me. If you answered "No! Not only does the rally obviously have nothing to do with the ZEW data, but in fact, German stocks FELL after the ZEW data was released. What the hell were they thinking?!" You'd be right! This is but one small, isolated example of financial market coverage that doesn't take a moment to vet claims on…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


MBS Day Ahead: Be Careful What You Read and Whom You Trust
MBS Day Ahead: Be Careful What You Read and Whom You Trust

Here's how consumer sentiment compares around the world

(Please visit the site to view this media)

CNBC's Steve Liesman breaks down the results of The Conference Board's Global Consumer Confidence Index, a quarterly survey of 32,000 online respondents in 64 countries. Bart Van Ark, chief economist at The Conference Board, joins 'Squawk Box' to discuss the survey.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Here's how consumer sentiment compares around the world
Here's how consumer sentiment compares around the world