Yesterday’s 3-year Treasury auction had higher than average demand and spurred a rally in bonds. This morning we are fairly flat ahead of today’s $24 billion 10-year note auction. In economic news, the March trade gap widened to $40.4 billion, and mortgage applications showed a 3.9% increase week over week.
The European Union’s $955 billion bailout plan to avert a world-wide public debt crisis fueled rallies in financial markets around the globe yesterday. Some economists worry that the agreement to bail out troubled members will saddle the euro zone with huge debts.
The European Union announced a bigger-than-expected stabilization package of almost $1 trillion on Sunday. Also unexpected was the European Central Bank’s decision to purchase debt in an effort to lower rates.
Livonia, Mich. – May 07, 2010 – Quicken Loans, the nation’s largest online retail mortgage lender, Fathead, the leading brand in sports and entertainment graphic [...]
Money was moved to the relative safety of the U.S. debt Thursday as Greece riots and contagion fears spread across the markets again. Treasuries and mortgage bonds opened lower today as the Employment Report showed U.S. employers added jobs for the third time in four months. The expectation was for April payrolls to show an increase of 190k. The actual increase was 290k, with an upward revision to next month’s expected number.
It’s seldom a good thing when something drops unexepectdly. Usually it’s bad news.
Mortgage consumers got a pleasant surprise today when mortgage rates took an unexpected drop downward. There are lots of reasons why rates dropped, but to summarize – the market demanded lower rates.
Treasuries rallied throughout the day yesterday as riots in Greece fueld a flight to the safe haven of U.S. debt. Tresuries and mortgage bonds opened lower this morning due to European bank earnings surprises. However, since the open they’ve rallied back close to yesterday’s levels.
Phoenix, Ariz. – May 05, 2010 – Quicken Loans, the nation’s largest online retail mortgage lender, and Junior Achievement of Arizona recently partnered in a [...]
Buying or selling a home is a big decision. Before putting your home up for sale or starting your search for a new home, there is some basic information you should be aware of.
The Dow lost -255 points yesterday over fears that the problems in the European debt markets are spreading. Today, the continued concerns over Greece and the possibility of a similar situation in Spain has caused Treasuries and mortgage bonds to rise this morning as risk aversion continues to drive the markets.