| 181. | Mortgage Rates Unchanged Over Weekend
U.S. Treasury securities restored their equilibrium on Monday after a wild ride last week brought about by China's decision to let its currency -- the yuan -- 'float' against a 'basket of currencies' rather than tying it to the dEHS made their biggest one-month surge in 25 years, climbing to a whopping annual rate of 7.33 million units. This far outpaced analysts' estimates of 7.13 million units, which coincidentally was the upwardly revised number from May. Sales were u..
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| Monday, July 25, 2005 |
| | 182. | Mortgage Rates Up Then Down
U.S. Treasury securities regained their footing on Friday after Thursday's massive sell-off that sent prices plunging and yields, which move in the opposite direction of prices, soaring. The sell-off resulted from China's decision to let its Prices of Treasuries edged back up and their yields moved down, although nowhere near the low levels of Wednesday. The sharp increases and decreases in yields, which lenders use as guides to set mortgage rates, were reflected in mortgage rate volatil..
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| Friday, July 22, 2005 |
| | 183. | Mortgage Rates Likely to Rise
China surprised the financial markets on Thursday by announcing that it is revaluing its currency, if only modestly. China will let the yuan “float” against a “basket of currencies” rather than tying it to the dollar. Although this move should raise Testimony presented by Fed chief Alan Greenspan to the Senate Banking Committee had little impact on the markets, which were focused on China. Corporations are concerned about rising interest rates, and higher-priced goods from China could have a neg..
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| Thursday, July 21, 2005 |
| | 184. | Mortgage Rates Hold, Treasury Yields Soften
Mortgage rates held fairly steady while Treasury yields edged downward again on Wednesday as stocks erased early losses and bounced back up toward multi-year peaks. The markets advanced after Congressional testimony by the Federal Reserve Board Ch Yields on Treasury securities, which move opposite of prices, ticked lower after Alan Greenspan told the House Committee on Financial Services that "the outlook for the U.S. economy is one of sustained economic growth and contained inflation press..
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| Wednesday, July 20, 2005 |
| | 185. | Mortgage Rates Hold for Another Day
Mortgage rates briefly spiked overnight and early Tuesday due to the big jump in Treasury yields on Monday. Yields on Treasuries, which move in the opposite direction of prices, soared yesterday, with the yield on the benchmark 10-year note hitting 4Comments made by Greenspan on Monday and St. Louis Fed president William Poole today confirmed that rate hikes would continue but that inflation is under control and the economy is handling high oil prices. It also was noted that the economy is expan..
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| Tuesday, July 19, 2005 |
| | 186. | Mortgage Rates Hold in Spite of Tough Day
It was a tough day for the financial markets. Stocks closed in negative territory. U.S. Treasuries securities sold off. In fact, outside of a few select stocks, the only things that rose on Monday were Treasury yields, which move in the opposite direOn Wednesday and Thursday Fed chief Greenspan will appear before the House Financial Services Committee and the Senate Banking Committee, respectively. This biannual testimony, formerly known as Humphrey-Hawkins, will cover a wide range of topics tha..
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| Monday, July 18, 2005 |
| | 187. | Mortgage Rates and Treasuries Remain Flat
U.S. Treasuries securities were again caught in the middle on Friday, resulting in another push-pull scenario. A report showing no signs of inflation - normally a plus for bonds - was countered by evidence of economic strength and consumer confidenceThe Producer Price Index, which monitors inflation at the wholesale level, was unchanged in June - significantly less than the forecast for a 0.4-percent increase. The core rate, which excludes volatile food and energy prices, posted a minus 0.1 per..
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| Friday, July 15, 2005 |
| | 188. | Mortgage Rates Remain at Elevated Levels
Mixed economic reports kept pressure on U.S. Treasuries Thursday morning. Strong retail sales were countered by a benign Consumer Price Index that showed inflation to be well under control. But sellers outweighed buyers, sending yields, which move inThe Consumer Price Index (CPI), which looks at inflation at the retail level, was reassuring for both stocks and bonds. CPI was unchanged in June after falling negative by 0.1 percent in May. Analysts had expected a 0.3 percent increase. And the core..
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| Thursday, July 14, 2005 |
| | 189. | Mortgage Rates Poised to Move Up
Anxiety over upcoming economic reports on inflation and consumer spending had bond traders adopting a “wait-and-see” attitude on Wednesday, but the bias was negative. U.S. Treasury securities were victims of light selling in the wake of a shrinking tThe U.S. trade balance shrank to $55.3 billion in May from an upwardly revised $56.9 billion in April. The deficit also came in below forecasts of $56 billion. Although the dollar strengthened against the yen and the euro on the news, it also raised ..
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| Wednesday, July 13, 2005 |
| | 190. | Mortgage Rates Remain Steady
U.S. Treasury securities were beaten down again on Tuesday at the hands of skittish bond traders. Upbeat economic and corporate news, the inability to rally in the face of bond-friendly reports such as tepid employment data and the bombings in LondonTreasuries sold across the board, with prices plunging and yields, which move in the opposite direction of prices, climbing to their highest levels in weeks. In addition, there was no economic news to guide bond traders, so they were left to look els..
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| Tuesday, July 12, 2005 |
| | 191. | Mortgage Rates Hold as Treasury Yields Ebb
U.S. Treasury securities sold off early on Monday due to disappointment over Friday's June Employment Report, which wasn't weak enough to halt the Fed. Bonds also reacted negatively to a speech by Richmond Fed president Jeffrey Lacker, who sBut during the session, concerns about inflation and economic strength appeared to diminish, and yields, which earlier had hit new multi-month highs, ebbed and closed very close to Friday's levels. This reverse allowed mortgage lenders who base ..
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| Monday, July 11, 2005 |
| | 192. | Mortgage Rates Continue Their Upward Trek
A weaker-than-expected employment report wasn't weak enough to spur buying in U.S. Treasury securities. And a drop in the unemployment rate to a four-year low eventually led to selling. In addition, Wall Street rallied on the employment data, recThe employment numbers in June showed 146,000 jobs added to non-farm payrolls - less than expected but enough to keep the Fed raising interest rates at a “measured” pace. This disappointed bond traders looking for low numbers that would slow or halt ..
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| Friday, July 08, 2005 |
| | 193. | Mortgage Rates Remain Steadfast
The terrorist bombings in London on Thursday morning created a surge of safe-haven buying as investors sought risk-free U.S. Treasury securities. Prices of Treasuries soared, sending yields, which move in the opposite direction of prices, plummeting.The only economic news for Thursday came in the form of first-time unemployment claims for the week ended July 1. Although claims rose 7,000 to 319,000, some increases were chalked up to temporary layoffs of autoworkers while factories are retooled a..
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| Thursday, July 07, 2005 |
| | 194. | Mortgage Rates Close to Unchanged
The price of oil soared above $61 a barrel on Wednesday, putting pressure on stocks but rallying U.S. Treasury securities. Traders believe that escalating oil prices could slow economic growth, which might in turn slow the Fed's rate-hike programA better-than-expected report on the service sector, which employs close to 80 percent of the U.S. work force, was largely ignored. The ISM index on non-manufacturing conditions for June rose to 62.2, which was stronger than the forecast of 58.0 and..
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| Wednesday, July 06, 2005 |
| | 195. | Mortgage Rates Hold in Face of Sell-Off
Traders aggressively sold U.S. Treasury securities on Tuesday for a second straight session, as they continue to show disappointment over the Fed statement. Traders were hoping that the Federal Open Market Committee, at its meeting last Thursday, woA strong report on Factory Orders in May rose 2.9 percent - the biggest gain in 14 months and far stronger than the 0.7-percent gain in April - put some pressure on Treasuries and buoyed stocks. Like durable goods orders in May, aircraft made up the ..
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| Tuesday, July 05, 2005 |
| | 196. | Mortgage Rates Could Edge Up
Stronger-than-expected economic reports put pressure on U.S. Treasury securities on Friday. The indicators spurred a sell-off in bonds that sent the yield on the benchmark 10-year note well above 4.0 percent for the first time since June 21. Yields, Two reports grabbed the attention of bond traders - one on manufacturing and the other on consumer confidence. The ISM index of nationwide manufacturing conditions in June climbed to 53.8 from May's 51.4 reading. The strong number flew in the fac..
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| Friday, July 01, 2005 |
| | 197. | Mortgage Rates Remain Steady
The Federal Open Market Committee did the expected on Thursday. It raised the target fed funds rate by 25 basis points to 3.25 percent. This is the ninth such increase in the past year. The accompanying statement, which was the object of much speculaThe bond markets, which had been trading flat to firmer, rallied on the statement. Traders bought on reassurance from the Fed that inflation, which erodes the value of fixed-rate assets such as U.S. Treasuries, will not likely be a threat to the econ..
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| Thursday, June 30, 2005 |
| | 198. | Fed Raises Funds Target Rate 25 Basis Points
The Federal Reserve's Open Market Committee on Thursday raised the target for the federal funds rate by a quarter percentage point, to 3.25 percent, matching market expectations., In its closely watched accompanying statement, the Fed retained the "measured" pace verbiage, suggesting it will continue edging rates upward and likely will increase rates another quarter-point at its next meeting on August 9., ..
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| Wednesday, June 29, 2005 |
| | 199. | Mortgage Rates Hold Steady as Yields Rise
A strong read on consumer confidence on Tuesday ignited a moderate sell-off in U.S. Treasury securities as traders squared their positions ahead of the Fed announcement on interest rates due Thursday. In addition, the equity markets posted big gains Oil, which closed at $60.54 a barrel on Monday and has kept pressure on stocks for the past several days, reversed course on Tuesday. Oil fell $2.19 a barrel, sending the price down to $58.35. The lifting of this burden on investors spurred a rally a..
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| Tuesday, June 28, 2005 |
| | 200. | Mortgage Rates Remain Low
Yields on U.S. Treasury securities, which move in the opposite direction of prices, continued to edge down on Monday. Weak economic signals out of Europe and Japan and a new high in oil prices are raising concerns about a global economic slowdown. ThOil closed at more than $60 a barrel on Monday for the first time ever, ending at $60.54. The leap put pressure on stocks, which had been trading in positive territory, as fears about a slowing economy, corporate profitability and consumer spending t..
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| Monday, June 27, 2005 |
| | 201. | Mortgage Rates Unchanged
U.S. Treasury securities posted additional gains on Friday, closing out a good week. The catalyst for buying government issues today was the Durable Goods Orders report, which looked strong on the outside, but contained disappointing data. There was These reports encouraged traders to believe that soft numbers could result in the Fed's winding down its rate-hike program. Although the dollar lost some ground due to today's economic indicators, its strength against the euro and the yen has..
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| Friday, June 24, 2005 |
| | 202. | Mortgage Rates Remain at Lowered Levels
The two-day rally in U.S. Treasury securities came to an end on Thursday. Economic indicators - the first major ones of the week - put some pressure on Treasuries, which sold on the upbeat news. Selling, however, was measured, with prices edging downA surprisingly big drop in first-time jobless claims for the week ended June 17 took its toll on Treasuries. Claims fell by 20,000 to 314,000 - a two-month low -- when analysts were expecting a decline to 330,000. The more influential four-week aver..
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| Thursday, June 23, 2005 |
| | 203. | Rates Head Lower Again, Stocks Waffle Mixed
U.S. Treasury securities prices jumped again Wednesday, while equities gave up early firmness to finish range-bound trading mixed. The second consecutive day of strong gains in Treasury prices, which move opposite of yields, meant lenders could contiThe yield on the benchmark 10-year Treasury note fell below the key 4.00-percent level by Wednesday afternoon, returning to levels last seen on June 9. The continued price advance in Treasuries was prompted largely by growing speculation the Federal ..
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| Wednesday, June 22, 2005 |
| | 204. | Mortgages Begin to Edge Back Down
Encouraging words from a bond investor and the issuance of an 'acceptable' amount of 30-year bonds spurred a rally in U.S. Treasury securities on Tuesday. Treasury prices soared and their yields, which move in the opposite direction of prices During a speaking engagement on Tuesday, it was reported that Bill Gross, one of the nation's top bond fund managers, said he thought the Fed might halt rate hikes after its August 9 meeting, which would leave the target fed funds rate at 3.5 pe..
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| Tuesday, June 21, 2005 |
| | 205. | Stocks, Bonds and Mortgage Rates Unchanged
By the end of Monday's trading day, stocks and bonds closed near Friday's levels in spite of some volatility during today's session. U.S. Treasury securities were pressured from the opening by the specter of more rate increases, which wilThe release of the Index of Leading Economic Indicators (LEI) for May had no bearing on Treasuries. The LEI, which looks at the economy three to six months down the road, came in at a minus 0.5 percent, when analysts were expecting a decline of 0.3 p..
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| Monday, June 20, 2005 |
| | 206. | Mortgage Rates and Treasury Yields Remain Steady
With little in the way of economic news to provide guidance, U.S. Treasuries closed Friday just about where they opened, and most of the moves in between were technical in nature. The only outside data came from the University of Michigan's preliSharp Rise in Oil Prices Can't Derail Stocks, ..
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| Friday, June 17, 2005 |
| | 207. | Treasury Yields Edge Down But Mortgage Rates Hold
A surprisingly weak report on June manufacturing conditions in the mid-Atlantic region on Thursday finally gave traders a reason to buy U.S. Treasuries, and buy they did. Treasury prices rose and their yields, which move in the opposite direction ofEconomic Data Mixed, ..
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| Thursday, June 16, 2005 |
| | 208. | Treasuries Recover, Mortgage Rates Barely Uptick
U.S. Treasury securities prices recovered from morning weakness Wednesday as crude oil gave back early gains, while traders for a second consecutive day initially shrugged off soft economic data that pundits otherwise would consider bond-supportive. Treasuries showed muted response on Wednesday to several economic releases that confirmed ideas the economy is under limited inflation pressure. Equities, under pressure early from strong crude oil prices, began shaving their losses on news that the ..
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| Wednesday, June 15, 2005 |
| | 209. | Mortgage Rates Remain Stable
U.S. Treasury securities failed to rally on Tuesday in the face of two market-moving economic reports that appeared to be bond friendly. Both the Producer Price Index (PPI) and Retail Sales showed no signs of inflation or a growing economy. Although Economic Data Calm Inflation Fears, ..
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| Tuesday, June 14, 2005 |
| | 210. | Mortgage Rates Begin to Creep Up
A fourth straight day of selling in U.S. Treasuries Monday sent prices tumbling and yields, which move in the opposite direction of prices, climbing. The yield on the benchmark 10-year note hit 4.08 percent - its highest level since May 26. Selling wWall Street Closes Positive, But Well Off Highs, ..
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| Monday, June 13, 2005 |
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