Yesterday, mortgage rates inched higher for the first time in four days. This move was caused by a stronger than expected Initial Jobless Claims report.
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Archive | Market Update
Initial Jobless Claims Expected to Increase – Market Update
The Fed had no surprises for us yesterday stating again that bond buying would continue despite rumors they would curtail purchases earlier in the day. Yesterday’s statement was almost identical to the previous statement, which failed to move the market in any dramatic way.
Bond Purchase Program Expected to Tapper Off – Market Update
Today will probably be the last calm day for the bond market. The Chicago PMI Index has the potential to move the market if the numbers significantly under perform.
Mortgage Rates Hit New Lows Last Week – Market Update
Mortgage rates officially hit new lows late last week – by a small margin. A Friday morning rally was caused by a weaker than expected GDP.
Treasuries Remain Unchanged Still – Market Update
Treasuries remain unchanged again yesterday with no news of moving the market. A weekly report to be released today should show initial jobless claims have remained unchanged from last month hovering at 350,000.
Market Rally Slowed After False Headline – Market Update
The market appeared to rally for a nanosecond when an erroneous tweet hit the headlines. Hackers attacked the Associated Press Twitter account stating the White House had been attacked.
Treasuries Advanced for Second Consecutive Day – Market Update
Treasuries advanced for a second day in a row amid concerns global economic growth is slowing. Both China and Europe manufacturing reports underperformed for the month, spurring demand for safer assets.
Little Chance the Fed Will Slow Pace of Debt Purchases – Market Update
Bond dealers on Wall Street announced on Friday they see little chance the Fed will slow the pace of debt purchases, even as policy makers face calls to curb their buying.
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