| 31. | Mortgage rates on the rise
A major sell-off in U.S. Treasury securities on Thursday sent prices plunging and yields, which move in the opposite direction of prices, soaring. The yield on the benchmark 10-year note closed at 4.64 percent -- its highest level since June 2004. MoEarlier today, the ECB raised interest rates to 2.5 percent, its highest level in three years, in order to contain inflation. This parallels the Fed's rate hikes over the past 21 months. In addition, the ECB president touted economic strength in ..
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| Thursday, March 02, 2006 |
| | 32. | Mortgage rates carved in stone
U.S. Treasury securities gave back recent gains on Wednesday as an unexpected jump in a February manufacturing index reignited worries that Fed rate hikes might continue into the summer. The other economic news was accepted without consequence, but sThe Institute for Supply Management index on February manufacturing conditions rose to 56.7, up from 54.8 the previous month and higher than the 55.8 that was forecast. Any number above 50 signals expansion in the sector. Within the report, new order..
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| Wednesday, March 01, 2006 |
| | 33. | Treasury rally doesn't move mortgage rates
A slew of disappointing economic reports rallied U.S. Treasury securities on Tuesday, sending prices climbing and yields, which move in the opposite direction of prices, diving. Although the revised Gross Domestic Product, or GDP, met analysts' eFourth-quarter gross domestic product was revised upward to 1.6 percent from the advance reading of 1.1 percent. The increase was in line with analysts' expectations, but far short of the final third-quarter number showing GDP galloping along at ..
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| Tuesday, February 28, 2006 |
| | 34. | Mortgage rates refuse to move
U.S. Treasury securities attracted buyers on Monday in the wake of a weak housing report, but it wasn't long before the focus turned to Tuesday's jam-packed economic calendar. The half-dozen releases due tomorrow can have high impact, so bondAdditionally, some traders opted to sell in order to position themselves for the issuance of corporate bonds later this week. Corporate bonds generally pay better than Treasuries due to the riskier nature of the investment. Earlier Treasury gains tur..
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| Monday, February 27, 2006 |
| | 35. | Mortgage rates hang tough
In spite of selling in U.S. Treasury securities, mortgage rates held tough on Friday, refusing to move even as yields were rising. A report on durable goods orders for January and an attempted bombing of a Saudi oil refinery fostered some safe-haven Durable goods orders got everyone's attention this morning by dropping 10.2 percent in January -- the biggest decline since July 2000. A closer look revealed that a dearth of aircraft orders was the reason for the sharp drop-off. When transportat..
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| Friday, February 24, 2006 |
| | 36. | Mortgage rates solid amid volatility
U.S. Treasury securities were in for a bumpy ride on Thursday. A big decline in first-time jobless claims spawned visions of escalating wages and prices, which led to selling early in the session. However, a drop in oil prices reversed that course - First-time unemployment claims reversed course for the week ended Feb. 17. Claims fell by 20,000 to 278,000 after rising by 19,000 the previous week. Analysts were expecting an increase of 22,000. Claims have held below 300,000 for six straight weeks..
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| Thursday, February 23, 2006 |
| | 37. | Mortgage rates hold the line
Inflation remained tame in January, according to the highly anticipated consumer price index, which ignited a rally in U.S. Treasury securities. Traders were also buoyed by a moderately successful auction of two-year notes, which were bought by an acThe headline number for the consumer price index, or CPI, showed prices rising 0.7 percent -- higher than the 0.5 percent, which had been forecast by analysts. Once again, energy was blamed for the increase, as it rose 5 percent in January. Also up w..
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| Wednesday, February 22, 2006 |
| | 38. | Mortgage rates remain steady
Prices on U.S. Treasury securities were little changed on Tuesday, with most yields, which move in the opposite direction of prices, closing near opening levels. The notable exception was the 30-year bond, which fell in price after facing volatility The index of leading economic indicators, or LEI, took a big leap in January, rising 1.1 percent -- far stronger than the 0.1 percent posted in December. These data, although low on the list of influential reports, turned heads this morning, as the i..
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| Tuesday, February 21, 2006 |
| | 39. | Mortgage rates ease down
U.S. Treasury securities attracted buyers in spite of an increase in the producer price index. And the recently reintroduced 30-year bond is continuing to bring in investors, such as insurance companies and pension funds, looking for long-term paper.The producer price index, or PPI, posted stronger-than-expected increases in January but failed to ignite a sell-off in Treasuries. The PPI rose 0.3 percent when analysts were expecting a 0.2 percent increase. The core, which eliminates volatile food..
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| Friday, February 17, 2006 |
| | 40. | Mortgage rates edge up on some products
Strong economic news and another Capitol Hill appearance by Fed Chairman Ben Bernanke, on Thursday, left bond traders unruffled and prices on U.S. Treasury securities close to levels of Wednesday. The Fed chief's statement to the Senate Banking CBernanke stated that the economy is operating on a relatively high level and said he concurred with the Fed's Jan.31 statement that “further firming of monetary policy” might be needed with regard to interest rates. He also indicated vigilance in..
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| Thursday, February 16, 2006 |
| | 41. | Mortgage rates remain at higher levels
The highly anticipated testimony of Fed chief Ben Bernanke before the House Financial Services Committee on Wednesday turned out to be a bit of a nonevent for U.S. Treasury securities. Treasuries dipped slightly as testimony began, sending yields, whBernanke offered no surprises for the markets, leading off with a reaffirmation that the Fed is indeed poised to raise short-term interest rates at its March 28 meeting. In referencing the Jan. 31 meeting of the Federal Open Market Committee, Bernank..
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| Wednesday, February 15, 2006 |
| | 42. | Retail sales boost mortgage rates
U.S. Treasury securities didn't get any love on Valentine's Day. A huge increase in January retail sales enhanced the picture of spending consumers driving the nation's economic engine into a quagmire of inflation. Traders sold on the visPrices of Treasuries plunged and their yields, which move in the opposite direction of prices, soared, with the yield on the benchmark 10-year note closing at 4.61 percent - its first venture above 4.6 percent since mid-November. In response, mortgag..
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| Tuesday, February 14, 2006 |
| | 43. | Mortgage rates on hold
A little early selling and some late buying left U.S. Treasury securities basically unchanged, Monday. Traders are on edge regarding the newly appointed Fed chairman Ben Bernanke's testimony, on Wednesday, before the House Financial Services CommFed funds futures currently point to a 25-basis-point increase in short-term interest rates at the Federal Open Market Committee's March 28 meeting, with signs of a repeat performance on May 10. This has disappointed traders who believed the Fed ..
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| Monday, February 13, 2006 |
| | 44. | Mortgage rates steadfast amid volatility
U.S. Treasury securities opened in rally mode on Friday as traders continued to celebrate the successful relaunching of the 30-year Treasury bond the previous day. Buying was strong across the board in response to heavy demand by foreign investors, aSome analysts suggested that traders were looking ahead to the flood of economic releases due the week of Feb. 13 and newly appointed Fed Chairman Ben Bernanke's biannual testimony before Congress on Feb. 15., ..
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| Friday, February 10, 2006 |
| | 45. | Mortgage rates hold
The highly anticipated auction of 30-year bonds was labeled a success, but it had little effect on the other U.S. Treasury securities. The long bond was released on Thursday after a five-year hiatus in order to fund the national debt, which is projecThe 30-year bond was discontinued in 2001 because of huge surpluses in the budget. Its return was well received by indirect bidders -- foreign central banks and investors -- who bought up a healthy 65 percent of the bonds. This encouraged Treasury tr..
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| Thursday, February 09, 2006 |
| | 46. | Treasuries prices tread water: 30-year mortgage holds steady, 15 dips slightly
As usual, worries about tomorrow dictated what bond traders did today. What they did was start out with a bit of a boost and then fall flat. Ironically, one of the major causes of those worries was Alan Greenspan. He made traders pay attention for thMarket watchers say that Greenspan was not the only reason that two-, five-, 10- and 30-year Treasuries all closed down. Another is that the yield curve remains inverted, with the yield on the 10-year remaining fractionally lower than the two-year&#..
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| Wednesday, February 08, 2006 |
| | 47. | Treasuries prices fall, mortgage rates sink slightly
Treasuries prices were down slightly on Tuesday. Some market watchers say that's a sign that investors are freeing funds for Thursday, when the government will host the first auction of new 30-year Treasury bonds since 2001. The government will bThe bond yield curve remains inverted -- with the 10-year yield falling lower than the two-year's. One market segment sees that as a sign of an upcoming recession. On the other side are investors saying that it's not about recession at all; i..
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| Tuesday, February 07, 2006 |
| | 48. | Treasuries under pressure, mortgage rates inch downward
The bond market is focusing on the past and the present right now, keeping Treasuries under pressure. Traders are looking forward to Thursday's auction of the first 30-year Treasuries since 2001, sitting fairly quietly and waiting for $14 billionThey are also speculating about how the Fed and its new chairman, Ben Bernanke, will react to Friday's lower-than-expected employment report and its potential signs of inflation., ..
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| Monday, February 06, 2006 |
| | 49. | Treasuries rebound, mortgage rates hold high
Signs of inflation within the employment report for January ignited a sell-off in U.S. Treasury securities on Friday, sending prices plummeting and yields, which move in the opposite direction of prices, soaring. Although job growth was weaker than fBut a couple of bond-friendly reports and a reassessment of the job numbers cooled selling and eventually turned the bonds around. Prices climbed and yields, which lenders use as a guide to set mortgage rates, stepped back down. Although yields close..
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| Friday, February 03, 2006 |
| | 50. | Mortgage rates continue to edge up
A decline in productivity, an increase in labor costs and another slide in weekly unemployment claims sent mixed signals to traders of U.S. Treasury securities on Thursday. Reports such as these, which are tinged with hints of inflation and economic Traders also were reluctant to alter positions ahead of Friday's employment report for January. As a result, Treasuries didn't stray far from opening numbers. The steep increase in yields during the week, however, has influenced mortgage lend..
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| Thursday, February 02, 2006 |
| | 51. | Mortgage rates edging up on Treasury sell-off
The first new Federal Reserve chairman in nearly 20 years, economist Ben Bernanke, took over the shop on Wednesday and spent his first day in office watching the Dow, the Nasdaq and the S&P 500 launch a late-afternoon sprint after a day of listless tThe Institute for Supply Management index of U.S. manufacturing activity, in January, disappointed the bond traders. The ISM index was 54.8 -- lower than the 56 that had been forecast, and also below the December posting of 55.6. Prices paid were two..
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| Wednesday, February 01, 2006 |
| | 52. | Fed hikes short-term interest rates as mortgage rates hold
The Federal Open Market Committee increased short-term interest rates by 25 basis points on Tuesday, hiking the target Fed funds rate to 4.5 percent. This is the 14th consecutive time the Fed has made such a move since June 30, 2004, but this time thThe statement concluded, 'Some further policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance.' This, many feel, leaves the door open for incoming Fed chairm..
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| Tuesday, January 31, 2006 |
| | 53. | Fed raises short-term interest rates - again
The Federal Open Market Committee, the policy-making arm of the Federal Reserve Board, raised short-term interest rates by 25 basis points on Tuesday. This is the Fed's 14th consecutive rate hike since June 30, 2004 and it will push the target feThe accompanying statement said some firming may be needed to keep the Fed objectives of low inflation and steady economic growth in line. This eliminated the word “measured” that inferred further rate hikes could be expected. It also left some wiggl..
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| Tuesday, January 31, 2006 |
| | 54. | Diverse reports leave mortgage rates flat
Fourth-quarter gross domestic product showed weaker-than-expected growth, which spurred a mini-rally in U.S. Treasury securities on Friday. But the rally was short-lived, as sales of new homes in December came in surprisingly strong. The two reports Gross domestic product, or GDP, rose a mere 1.1 percent in the fourth quarter of 2005, which was far short of estimates for 2.8 percent growth and way below the 4.1 percent increase posted for the third quarter. Weak auto sales, an increase in import..
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| Friday, January 27, 2006 |
| | 55. | Mortgage rates march higher
A second consecutive increase in durable goods orders and continued strength in the labor market spurred another huge sell-off in U.S. Treasury securities on Thursday. Traders sold on the belief that signs of significant economic growth will lead to Orders for durable goods -- big-ticket items meant to last more than three years -- rose in December, posting a 1.3 percent increase that surpassed expectations for a rise of 1 percent. Excluding orders for transportation, durables posted a still-hea..
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| Thursday, January 26, 2006 |
| | 56. | Mortgage rates likely to climb
U.S. Treasury securities suffered on Wednesday through a session marked by aggressive selling. Concerns about lackluster response to Treasury auctions and the Fed's statement that will conclude its Jan. 31 meeting sent Treasury prices plunging anExisting-home sales took a dive in December, declining 5.7 percent to an annual rate of 6.6 million units -- the lowest level since March 2004. Although this decline was far greater than analysts' forecasts for a 1.4 percent slide, the yearlong p..
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| Wednesday, January 25, 2006 |
| | 57. | Mortgage rates begin to edge upward
Mortgage rates were slightly lower overnight, but on Tuesday a weak auction of 20-year TIPs, or Treasury Inflation-Protected Securities, increased the selling pressure on bonds. Prices of U.S. Treasury securities fell, and their yields, which move inWith no news slated for Tuesday, bond traders focused on the Fed's Jan. 31 meeting, upcoming economic reports and the overabundance of debt issuance in the markets. Businesses are releasing huge amounts of corporate debt -- not unusual for Januar..
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| Tuesday, January 24, 2006 |
| | 58. | Mortgage rates creep down
Mortgage rates crept down over the weekend due to multiple rallies in U.S. Treasury securities last week. And Monday's uninspired trading kept Treasury yields2, which move in the opposite direction of prices, down. Mortgage lenders who base theirThere was only one economic report today, and it was a nonfactor. Traders looked toward the end of the week for more meaningful data, such as the advance fourth-quarter gross domestic product and advance durable goods orders for December. However, th..
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| Monday, January 23, 2006 |
| | 59. | Mortgage rates unmoved
U.S. Treasury securities posted gains on Friday as the equity markets tanked. Treasuries opened on the upside after several members of the Federal Open Market Committee suggested in separate speeches on Thursday night that the Fed is close to finishiAs an example, Atlanta Fed president, Jack Guynn, was quoted as saying that the Fed has “got policy recalibrated about right.” Comments such as this rallied Treasuries, but they back-pedaled a little after Richmond Fed president, Jeffrey Lacker, not..
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| Friday, January 20, 2006 |
| | 60. | Mortgage rates hold at lower levels
A huge decline in first-time unemployment claims spurred selling in U.S. Treasury securities on Thursday. In fact, claims hit their lowest level since April 2000. Worried that a tight labor market could influence the Fed to continue with rate-hike boFirst-time jobless claims set multiyear records for the week ended Jan. 14. Claims fell to 271,000 -- down 36,000 from the 307,000 total of the previous week and at its lowest level since April 2000. The more-closely watched four-week average, which ..
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| Thursday, January 19, 2006 |
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