Weekly Newsletter: FHA’s Role is Shrinking; NE Drags Down New Home Sales, but Pending Sales Rise; Rates Recover Modestly to end Bad Month

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30 Year Fixed
3.77% -0.02
15 Year Fixed
3.08% -0.01
10YR Treasury
2.00% -0.0383
FNMA 30YR 3.5
104.81 +0.27
FNMA 15YR 2.5
104.70 +0.20
View Today’s Rates
Friday February 27, 2015
MND NewsWire – 2/26
By Any Measure FHA’s Role is Shrinking
The Federal Housing Administration (FHA) saw its share of the mortgage market soar to 72 percent of all mortgages issued in 2008 as other lenders pulled back and FHA moved into one …
MND NewsWire – 2/25
Northeast Drags Down New Home Sales
Sales of newly constructed single-family homes dipped only slightly in January from December levels. The U.S. Census Bureau and Department of Housing and Urban Developing said today …
MND NewsWire – 2/27
Homebuyers were Busy in January; Pending Sales Rise
Even though sales of existing homes dropped by 4.9 percent in January buyers were apparently out shopping and seriously so. The National Association of Realtors® said that its Pending …
Mortgage Rate Watch – 2/27
Mortgage Rates End Bad Month on Good Note
Mortgage rates managed to scrape together modest gains for today’s month-end session. In terms of the financial markets that dictate mortgage rates, the last day of the month can be …

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.77% -0.02
15 Yr FRM 3.08% -0.01
FHA 30 Year Fixed 3.50% +0.00
Jumbo 30 Year Fixed 3.77% -0.01
5/1 Yr ARM 3.12% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.93% 0.35 +0.09
15 Yr. Fixed 3.24% 0.35 +0.09
30 Yr. Jumbo 3.92% 0.28 +0.02
30 Yr. FHA 3.73% 0.12 +0.01
5/1 ARM 3.09% 0.47 +0.02
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.80% 0.60 +0.00
15 Yr. Fixed 3.07% 0.60 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 2.99% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.86 +0.27
30YR FNMA 3.5 104.81 +0.27
30YR GNMA 3.0 102.69 +0.28
30YR GNMA 3.5 105.02 +0.34
15YR FNMA 3.0 104.70 +0.20
15YR FNMA 2.5 102.42 +0.20
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
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2 YR 0.6263% -0.0277
5 YR 1.5005% -0.0409
10 YR 1.9965% -0.0383
30 YR 2.5964% -0.0338
Prices as of: 2/27/2015 4:31PM EST

23623981

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
© 2015 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Weekly Rate Report: Rates Recover Modestly to Close Out Bad Month

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weeklyrateheader.png
30 Year Fixed
3.77% -0.02
15 Year Fixed
3.08% -0.01
10YR Treasury
2.00% -0.0383
FNMA 30YR 3.5
104.81 +0.27
FNMA 15YR 2.5
104.70 +0.20
View Today’s Rates
Rates Recover Modestly to Close Out Bad Month
February 27, 2015
Market Summary
After an unpleasantly quick ride higher last week, and during the month of February in general, mortgage rates finally caught a break this week. It wasn’t an extreme bounce back, but after the last 3 weeks, any relief is a welcome sight.

After markets came to terms with Greece’s bailout extension (a key component in last week’s weakness), it was on to waiting on the edge of our seats to see if Fed Chair Yellen would have anything disturbing to say about the prospects for a near term rate hike. As her first day of Congressional testimony ended without any alarming anecdotes, bond markets moved quickly toward lower rates.

Top tier borrowers are mostly back to seeing 3.75% as the lowest conventional 30yr fixed offering, whereas 3.875% had been much more prevalent last week.

Matthew Graham, Chief Operating Officer, Mortgage News Daily

30 Year Fixed Rate Mortgage
27?w=360
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage

Beginning Average: 3.85%
Ending Average: 3.77%
Weekly Change: -0.08%
Yearly Change: -0.55%

Friday, February 20, 2015 : 3.85% (+0.01%)
Mortgage rates are ending the day in very similar territory to yesterday’s latest levels but have had something of a wild ride between now and then. At issue is the ongoing drama between Greece and its Eurozone creditors. There was some risk heading into today that a temporary agreement would be reached to extend Greece’s bailout agreement, and indeed that’s behind the volatility.

More detail: “Mortgage Rates End Unchanged Despite Massive Market Volatility “

Monday, February 23, 2015 : 3.85% (+0.00%)
Mortgage rates ended the day in almost perfectly unchanged territory versus Friday’s despite trading levels improving in the secondary mortgage market. In other words, the mortgage-backed-securities that dictate lender’s rate sheets suggested a modest improvement–an improvement that we’re not really seeing. That said, of the few lenders who moved today, most have moved slightly lower. The most prevalently-quoted conventional 30yr fixed rate remains 3.875% for top tier scenarios, though 3.75% is certainly not unheard-of.

The rationale for the conservative approach can vary from lender to lender, but several factors are likely in play. First and foremost, volatility will always hurt lenders’ ability to move mortgage rates in proportion to the rest of the bond market.

More detail: “Mortgage Rates Mostly Flat Ahead of Yellen Testimony”

Tuesday, February 24, 2015 : 3.79% (-0.06%)
Mortgage rates had their best day of the month today following Fed Chair Yellen’s testimony before the Senate Banking Committee. That’s part of a 2-day semi-annual update that the Fed gives to congress. In this modern electronic age, it’s a wholly unnecessary relic from a bygone era when everything that every member of the Fed has said on the record wasn’t instantly available on the web. And so it has devolved into a painful display of American bureaucracy where congress-people can vent their frustrations or display their ignorance for a quick sound-byte. All that having been said, markets still treat this as the Fed Chair’s twice-a-year chance to set the record straight in a Q&A format, less constrained by the formalities of official FOMC communications.

More detail: “Best Day of the Month for Mortgage Rates”

Wednesday, February 25, 2015 : 3.77% (-0.02%)
Mortgage rates had a bad Valentines Day. It’s not that anything happened on that Saturday. Indeed, lenders weren’t even open. It’s just that things changed significantly by the time US markets reopened on Tuesday, with rates moving higher at the fastest pace in over a year. After a purely corrective bounce the following day, rates spent the next three days in limbo. That brought us to yesterday’s big move lower following Yellen’s testimony and an anticlimactic Eurozone response to the Greek bailout (initial approval), but it was an outlier against an otherwise crummy trend toward higher rates in February.

Until today…

More detail: “Mortgage Rates Finally Feeling the Love”

Thursday, February 26, 2015 : 3.79% (+0.02%)
Mortgage rates were slightly higher today, undoing the modest gains seen yesterday, but leaving the more significant drop from Tuesday intact. 3.75% remains the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios, though a few lenders will have drifted up to 3.875% with today’s weakness.

Today’s losses were a factor of both data and events. This morning’s economic data was mixed, but higher Durable Goods and Real Wages overshadowed higher Jobless Claims. The data started the ball rolling in a negative direction for the markets that affect mortgage rates this morning, and from there, several month-end trading dynamics made for steady losses throughout the day. Particularly, companies issued corporate bonds at a rapid pace this afternoon, and that issuance process can indirectly put some upward pressure on rates.

More detail: “Mortgage Rates Move Slightly Higher Ahead of GDP”

Friday, February 27, 2015 : 3.77% (-0.02%)
Mortgage rates managed to scrape together modest gains for today’s month-end session. In terms of the financial markets that dictate mortgage rates, the last day of the month can be a volatile day that shuns the normal cause and effect relationships between data and market movement. Today’s example thankfully bucked that trend (perhaps because the rest of the month had already given us plenty of volatility). Trading levels were stable to stronger all day, allowing many lenders to drop rates in the middle of the day.

3.75% remains intact as the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios, though 3.875% is still fairly common. Lenders erred on the side of caution, in general, in that they didn’t quite keep pace with the improvements in underlying markets. In other words, they’ll have some extra improvement to pass along if markets hold their ground to start next week.

More detail: “Mortgage Rates End Bad Month on Good Note”

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.77% -0.02
15 Yr FRM 3.08% -0.01
FHA 30 Year Fixed 3.50% +0.00
Jumbo 30 Year Fixed 3.77% -0.01
5/1 Yr ARM 3.12% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.93% 0.35 +0.09
15 Yr. Fixed 3.24% 0.35 +0.09
30 Yr. Jumbo 3.92% 0.28 +0.02
30 Yr. FHA 3.73% 0.12 +0.01
5/1 ARM 3.09% 0.47 +0.02
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.80% 0.60 +0.00
15 Yr. Fixed 3.07% 0.60 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 2.99% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.86 +0.27
30YR FNMA 3.5 104.81 +0.27
30YR GNMA 3.0 102.69 +0.28
30YR GNMA 3.5 105.02 +0.34
15YR FNMA 3.0 104.70 +0.20
15YR FNMA 2.5 102.42 +0.20
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.6263% -0.0277
5 YR 1.5005% -0.0409
10 YR 1.9965% -0.0383
30 YR 2.5964% -0.0338
Prices as of: 2/27/2015 4:31PM EST

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice.

© 2015 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Newsletter: Construction Industry Optimism at 20-year High; Pending Home Sales Rise; Rates end Bad Month on Good Note

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30 Year Fixed
3.77% -0.02
15 Year Fixed
3.08% -0.01
10YR Treasury
2.00% -0.0383
FNMA 30YR 3.5
104.81 +0.27
FNMA 15YR 2.5
104.70 +0.20
View Today’s Rates
Friday February 27, 2015
MND NewsWire – 2:39PM
Construction Industry Optimism at 20-year High
While its ultimate focus is the future of the construction equipment business, Wells Fargo’s Equipment Finance division has some predictions for residential construction as well. The …
MND NewsWire – 11:27AM
Homebuyers were Busy in January; Pending Sales Rise
Even though sales of existing homes dropped by 4.9 percent in January buyers were apparently out shopping and seriously so. The National Association of Realtors® said that its Pending …
Mortgage Rate Watch – 5:09PM
Mortgage Rates End Bad Month on Good Note
Mortgage rates managed to scrape together modest gains for today’s month-end session. In terms of the financial markets that dictate mortgage rates, the last day of the month can be …
Community Commentary – 3:04PM
Lessons for Europe from the US Housing Recovery
In our highly interconnected financial world, what happens in Europe, Greece, and Germany greatly affects our own bond and MBS markets . There has been much discussion back and forth …

Latest Video


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Clashes in streets of Athens

Santelli: 10-year Treasury yield on the move

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.77% -0.02
15 Yr FRM 3.08% -0.01
FHA 30 Year Fixed 3.50% +0.00
Jumbo 30 Year Fixed 3.77% -0.01
5/1 Yr ARM 3.12% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.93% 0.35 +0.09
15 Yr. Fixed 3.24% 0.35 +0.09
30 Yr. Jumbo 3.92% 0.28 +0.02
30 Yr. FHA 3.73% 0.12 +0.01
5/1 ARM 3.09% 0.47 +0.02
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.80% 0.60 +0.00
15 Yr. Fixed 3.07% 0.60 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 2.99% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.86 +0.27
30YR FNMA 3.5 104.81 +0.27
30YR GNMA 3.0 102.69 +0.28
30YR GNMA 3.5 105.02 +0.34
15YR FNMA 3.0 104.70 +0.20
15YR FNMA 2.5 102.42 +0.20
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
TR_Eikon_Email.png
2 YR 0.6263% -0.0277
5 YR 1.5005% -0.0409
10 YR 1.9965% -0.0383
30 YR 2.5964% -0.0338
Prices as of: 2/27/2015 4:31PM EST

23623981

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
© 2015 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Daily Rate Update: Mortgage Rates End Bad Month on Good Note

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dailyrateheader.png
30 Year Fixed
3.77% -0.02
15 Year Fixed
3.08% -0.01
10YR Treasury
2.00% -0.0383
FNMA 30YR 3.5
104.81 +0.27
FNMA 15YR 2.5
104.70 +0.20
View Today’s Rates
Mortgage Rates End Bad Month on Good Note
February 27, 2015
Mortgage ratesmanaged to scrape together modest gains for today’s month-end session. In terms of the financial markets that dictate mortgage rates, the last day of the month can be a volatile day that shuns the normal cause and effect relationships between data and market movement. Today’s example thankfully bucked that trend (perhaps because the rest of the month had already given us plenty of volatility). Trading levels were stable to stronger all day, allowing many lenders to drop rates in the middle of the day.

3.75% remains intact as the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios, though 3.875% is still fairly common. Lenders erred on the side of caution, in general, in that they didn’t quite keep pace with the improvements in underlying markets. In other words, they’ll have some extra improvement to pass along if markets hold their ground to start next week.


Loan Originator Perspective

“Rates are range bound with support at 2.04 and resistance at 2.00. Very weak data this morning was unfortunately unable to break us through 2.00. We have to several important pieces of economic data to hit on Monday. If the data is weak on Monday, i think we can break the 2.00 resistance (good implications for mortgage rates); however, if it is stronger rates could also burst through the ceiling at 2.04 (bad for mortgage rates). My advice would be to take short term closings off the float boat and lock them up today. A few lenders have repriced for the better, so before locking check to see if you lender has done so. If your lender has not repriced for the better, i would float over the weekend.” –Victor Burek, Open Mortgage

“Rate markets enjoyed a sedate Friday to end the month, with minor pricing improvements on my rate sheets. While we’re still closer to the rate highs for February than the lows seen early in the month, at least we’ve regained some ground, and appear to be in a “wait and see” mode at the moment. I’ll probably still lock the majority of my submissions early in the process, particularly for borrowers with limited risk tolerance, high debt ratios, or tight cash to close. After all, “One in the hand beats…..”” –Ted Rood, Senior Originator

“Today’s gains can be attributed to a combination of month-end bond buying and a economic data coming in slightly lower than forecast. These gains still did not offset yesterday’s losses and lenders have been reluctant to pass any improvements onto rate sheets. Next week brings us the Jobs Report which is will be the last print before the Fed’s quarterly statement in March. Volatility is highly possible leading up to the report. If you have low risk tolerance and need to lock in the next 30 days you should strongly consider it.” –Justin Dudek, Mortgage Professional, Supreme Lending

Today’s Best-Execution Rates

  • 30YR FIXED – 3.75
  • FHA/VA – 3.25-3.5
  • 15 YEAR FIXED – 3.00-3.125
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • 2015 began with a strong move to the lowest rates seen since May 2013. The catalyst has been and continues to be Europe.
  • European bond yields trended constantly lower in 2014, thus playing a prominent role in keeping US rates lower than they otherwise might be. Many feel that Europe will continue to slide until their central bank engages in US-style quantitative easing. Some see this happening in early 2015. In any event, we’re looking for a turn in Europe, first and foremost, before worrying about the longer-term trend in bond markets being at serious risk of reversing.
  • It’s impossible to know when Europe will turn a corner, and even then it’s only the sort of thing we’ll be able to observe in hindsight. That means every head-fake toward higher rates runs the risk of developing into a longer term rise, even if those risks vary greatly in terms of probability. Clients with longer term time horizons and who otherwise don’t mind losing some ground in exchange for the chance at locking even lower rates are the only ones who should float. Clients who must close by a certain date or who can’t afford to lose any ground on rates should generally be locking even though the longer term trend has been in their favor for over a year now.
  • As always, please keep in mind that the rates discussed generally refer to what we’ve termedbest-execution(that is, the most frequently quoted, conforming, 30yr fixed rate for top tier borrowers, based not only on the outright price, but also ‘bang-for-the-buck.’ Generally speaking, our best-execution rate tends to connote no origination or discount points–though this can vary–and tends to predict Freddie Mac’s weekly survey with high accuracy. It’s safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie’s once-a-week polling method).

30 Year Fixed Rate Mortgage
27?w=360
15 Year Fixed Rate Mortgage
27?w=360&p=15YRFRM

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.77% -0.02
15 Yr FRM 3.08% -0.01
FHA 30 Year Fixed 3.50% +0.00
Jumbo 30 Year Fixed 3.77% -0.01
5/1 Yr ARM 3.12% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.93% 0.35 +0.09
15 Yr. Fixed 3.24% 0.35 +0.09
30 Yr. Jumbo 3.92% 0.28 +0.02
30 Yr. FHA 3.73% 0.12 +0.01
5/1 ARM 3.09% 0.47 +0.02
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.80% 0.60 +0.00
15 Yr. Fixed 3.07% 0.60 +0.00
1 Yr. ARM 2.44% 0.40 +0.00
5/1 Yr. ARM 2.99% 0.50 +0.00

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 101.86 +0.27
30YR FNMA 3.5 104.81 +0.27
30YR GNMA 3.0 102.69 +0.28
30YR GNMA 3.5 105.02 +0.34
15YR FNMA 3.0 104.70 +0.20
15YR FNMA 2.5 102.42 +0.20
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.6263% -0.0277
5 YR 1.5005% -0.0409
10 YR 1.9965% -0.0383
30 YR 2.5964% -0.0338
Prices as of: 2/27/2015 4:31PM EST

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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.
© 2015 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
View this Report in your Web Browser | Forward to a Friend | Subscribe
This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice.
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MBS RECAP: Slow, Steady Gains for Bond Markets

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MBS RECAP: Slow, Steady Gains for Bond Markets

Posted to: MBS Commentary
Friday, February 27, 2015 4:59 PM

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Very little has changed between now and the mid-day update (read that HERE if you like). To recap, bonds started the day roughly in line with yesterday’s latest levels and made gradual improvements throughout the day. That was more true for MBS than for Treasuries though. 10yr yields were locked in more of a sideways range in the morning hours and never really broke it until after the 3pm close. MBS saw more consistent improvement, albeit at a gradual pace.

Data was disregarded, with the possible exception of some volatility after Chicago PMI. There were no …

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Construction Industry Optimism at 20-year High

Construction Industry Optimism at 20-year High

Posted to: MND NewsWire
Thursday, February 26, 2015 9:38 AM

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While its ultimate focus is the future of the construction equipment business, Wells Fargo’s Equipment Finance division has some predictions for residential construction as well. The company’s 2015 Construction Industry Forecast, presents results of a survey it has conducted for the last 19 years of industry executives representing large and small contractors as well as equipment distributorships and equipment rental companies.

Wells Fargo’s survey attempts to track industry optimism using what it calls the Optimism Quotient (OQ). John Crum, National Sales Manager for the Equipment Finance Construction Group said that, after tumbling to an all-time low of 42 in January 2009, the OQ has climbed steadily, reaching new highs in three of the last four years and landing this year at 130, up six points from 2014.

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MBS MID-DAY: Uneventful Month-End Session; Little Impact From Data

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MBS MID-DAY: Uneventful Month-End Session; Little Impact From Data

Posted to: MBS Commentary
Friday, February 27, 2015 1:06 PM

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The last trading day of the month has managed to be a total let-down to anyone looking for excitement. In terms of doing no further harm, it’s been just fine though–at least through mid-day.

That wasn’t necessarily looking like the case overnight. European data and the resulting bond market weakness carried 10yr yields up to 2.052, but they saw solid support there and ultimately made it back to positive territory as the domestic session got underway.

GDP data was a non-event, either because markets weren’t interested or because it was right in line with the forecast…

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