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Rate Changes

Tuesday, December 17, 2013 - Article by: bcahoone - Global Home Finance Inc - Message

Today's Interest Rate Market Forecast Mortgage Rates Currently Trending: NEUTRAL, with VOLATILITY. 7 day Mortgage Rates Forecast: HIGHLY VOLATILE - will the Fed announce tapering? Today will likely be volatile as traders speculate what is being said in today's FOMC (Federal Open Market Committee) meeting that concludes tomorrow with the FOMC announcement. To stay ahead of the market, give RateAlert Executive a try. In fact, try it for the next 15 days, for $1. Yesterday's Interest Rate Market RecapYesterday the MBS (Mortgage Backed Securities) market lost -3 basis points, but that doesn't show the volatility of the day. We had a high of 100.06 basis points, and the timing was right around when many lenders come out with pricing. That means the lenders had likely improved rates or rebate pricing based on that market improvement. In the middle of the day we saw MBS have a huge sell off, to a low of 99.64, a swing of 42 basis points. Most lenders that priced in the day's early gains would have repriced for the worse during that sell off. We rebounded slightly to end the day only down -3 basis points, but we saw rate and rebate affecting movement through the day, highlighting why it is so important to have access to real time MBS movement and receive market alerts and breaking news to stay ahead of lender reprices. Today's Rate Volatility: HIGH
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