MBA Mortgage Applications are down 2.1% from last week along with the Refinance Index which has also dropped 3%. Also, mortgage-backed securities prices are trading up this morning ahead of the afternoon release of the FOMC meeting minutes.
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Tag Archives | Nasdaq down
10-Year Treasury Yield Up – Market Update
The 10-year treasury yield is up a couple basis points this morning ahead of the $32 billion auction of three-year notes scheduled for this afternoon. The auction will be the first of three scheduled for this week.
Federal Reserve May Announce QE3 In Meeting Today – Market Update
The Federal Reserve may announce a third round of quantitative easing during their meeting scheduled for later this afternoon. Moreover, the disappointing manufacturing and job reports released last week lead many to believe a QE3 will be announced as early as today.
Mortgage-Backed Securities Flat – Market Update
Mortgage-backed securities opened flat this morning as the European Union summit wrapped up day one of their two day meetings in Belgium. Also, the Personal Income report came in up 0.2 %.
10-Year Yield Up Four Basis Points – Market Update
The 10-year yield is up four basis points today, neutralizing movement from yesterday. Also, the S&P / Case Shiller Home Price Index will be released this morning.
Operation Twist May Spur a Third Round of Quantitative Easing -Market Update
When the Federal Reserve announced the expansion of operation twist Wednesday, many analyst believed the Fed was setting the table for a third round of quantitative easing. If analyst are correct and a QE3 is rolled out in August or September, there is a strong possibility that mortgage rates will increase as well.
10-Year Yield Down One Basis Point – Market Update
The 10-year yield is down one basis point this morning as the Federal Reserve cut its growth estimate for the U.S. economy yesterday. Also, reports reveal that China’s manufacturing likely decreased for an eighth month.
Greece to hold Elections Sunday – Market Update
The markets may experience high volatility next week as Greece prepares to hold elections Sunday. Early polls reveal the “New Democracy” and the “Syriza” parties are headed for a showdown as the results are expected to be very close.
10-Year Yield Up – Market Update
The 10-year yield is up this morning as the U.S. prepares to auction off $66 billion of debt this week. Also, data from the monthly budget statement will be released this afternoon.
Fed Opts Not to Stimulate Economy Due to ‘Diminishing Returns’ – Market Update
In his address to the nation yesterday, Federal Reserve Chairman Ben Bernanke mentioned the possibility of easing future monetary assistance due to “diminishing returns.”
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