Maine Mortgage Market Update 11.19.2010

Mortgage bonds remain near unchanged holding the gains from yesterday afternoon. We were able to close positive yesterday despite the DOW closing up 173 points. The DOW is currently down 49. There is no data set for release today, but news that China has tightened their lending standards – for the second time in twoContinue reading “Maine Mortgage Market Update 11.19.2010”

Maine Mortgage Update 10.29.2010 (end of day)

Mortgage bond prices closed slightly higher Friday afternoon applying downward pressure to mortgage rates. In news released at the open, Q3 advanced gross domestic product rose 2.0%. That data was as expected. The only way we will ever recover from the Great Recession is to have GDP continue to increase. However that said, as GDPContinue reading “Maine Mortgage Update 10.29.2010 (end of day)”

Maine Mortgage Market Update 10.27.2010

Mortgage bond prices opened lower Wednesday morning addling to the losses seen Tuesday afternoon. Rates are under pressure from strong economic data released this morning. In news released at the open, orders for durable goods rose 3.3%. Traders were expecting orders to rise 1.8%. That data was sharply higher than expectations and not bond friendly.Continue reading “Maine Mortgage Market Update 10.27.2010”

Maine Mortgage Market Update 10.26.2010

Mortgage bond prices remain lower Tuesday morning adding to the losses seen Monday afternoon. Rates remain under pressure as mortgage companies sell bonds to cover locked borrowers. Thin trading conditions are adding to the pressure. In news released this morning, consumer confidence stood at 50.2. Traders were expecting confidence at 49.00. This data was notContinue reading “Maine Mortgage Market Update 10.26.2010”

Maine Mortgage Market Update 10.25.2010

Mortgage bond prices remain higher Monday morning erasing all the losses seen Friday afternoon and more. Trade is quiet. In news released today, existing home sales stood at 4.53M. Traders were expecting sales to stand at 4.25M. That data was better than expected however it had little effect on trade. With no more news setContinue reading “Maine Mortgage Market Update 10.25.2010”

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