MBS RECAP: Bonds Squeezed to Best Levels in Months Ahead of Fed

Recall that mortgage rates spent the first five months of 2013 hovering around 3.5%, so borrowers were likely apathetic to these "lower" 4%-handle rate levels. There may be a more important message.

 · Posted To: MBS Commentary Pre-announced bond buying programs are really quite something. They have all ended up being well-telegraphed enough to allow investors to do their own bond buying well before the program starts, driving rates lower preemptively.

With that in mind, August was the best month and 2019 has been the best year for rates since 2011!. but the parallels are adding to the bond market’s anxiety. Ultimately, the Fed’s decision to cut rates only 3 times in the mid 90s was predicated on an economy that no longer justified additional. MBS RECAP: Bonds Confirming Momentum Shift.

Mortgage rates today, February 1, 2019, plus lock recommendations Mortgage rates today, May 23, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy – The Mortgage Reports Mortgage Advice Bureau (MAB1) Stock Rating Reaffirmed by Shore Capital – Riverton Roll

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The National Association of Homebuilders (NAHB) Housing Market Index ended its 8-month winning streak this month, posting a value of 47. The January 2013 reading is on level with last month, and remains at a near 7-year high.. The Housing Market Index (HMI) is a measure of home builder confidence.

In contrast, mortgage-backed securities (MBS) – a large component in many domestic bond index funds – lost ground in the year but finished ahead of government bonds. MBS were helped by continued Fed asset purchases, as $45 billion of the $85 billion monthly bond.

The market was expecting around 180K new jobs, but the reading came in much lower at 148K. Many economists think that we need at least 150K new jobs each month to see any measurable economic growth. bonds generally do better in low or negative economic growth, so this reading was positive for bonds and therefore mortgage rates.

MBS Day Ahead: Here’s How Priced-In’ Rate Cuts Are.. In the day just passed, bonds did an admirable job shaking off the ill effects of a significantly stronger Philadelphia Fed Manufacturing business outlook survey (aka “Philly Fed”).. Mortgage Rates Fight to Remain at Week’s Best Levels .

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After months. levels, as chief reasons for their decision to begin the bond taper. On a monthly basis, the Fed will now buy $75 billion in monthly assets, down from the current rate of $85 billion.

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