WeeklyBasis 01/26/04: Fed Meeting This Week, Expect No Change

Rates/commentary for the week of January 26, 2004. Rates opened near all-time lows Monday, then rose about .125% as investors sold bonds (which pushes yields up) to fuel a stock rally on positive earnings news. As earnings continue to pour in this week, we may see more of the same. In addition to earnings, the

WeeklyBasis 01/12/04: Lots of Economic Data this Week, Expect Rate Volatility

Rates/commentary for the week of January 12, 2004. Rates improved by about 0.25% Friday as Treasury and mortgage-backed bond markets rallied strongly on December’s weaker-than-expected employment data. The end of this week is huge for economic releases. We’ll see reports on inflation (CPI and PPI), retail sales, weekly jobless claims and consumer sentiment. Remember, though,

WeeklyBasis 01/05/04: Welcome to 2nd Best Home Sales Year Ever

Rates/commentary for the week of January 5, 2004. Happy New Year to everyone, and welcome to the second-best year ever (behind 2003) for new and existing home sales according to NAR’s chief economist. During the last two weeks of 2003, fixed and ARM rates rose by .125% because of positive economic data. As I’ve mentioned

WeeklyBasis 12/15/03: Low Inflation, Low Utilization Fueling Low Rates

Rates/commentary for the week of December 15, 2003. Rates are lower by about .125 to start this week. On news of Hussein’s capture, investors bought equities and sold bonds, but this rate-unfriendly trading activity was more muted than expected because everyone is waiting for Tuesday’s economic data. Consumer Price Index (which measures inflation) and Capacity

Marketweek 12/08/03: Conforming Loan Limits Go From $322,700 to $333,700

Rates/commentary for the week of December 8, 2003. Friday’s weaker-than-expected Employment Report dampened hopes of a complete economic recovery, helping lower rates about 0.25% coming into today. Tuesday is the Fed’s last rate-setting meeting of 2003, and they are NOT expected to hike rates because there are no inflationary pressures on the economy. Friday’s release

WeeklyBasis 12/01/03: Rates Up on Strong Holiday Shopping

Rates/commentary for the week of December 1, 2003. Investors fled bonds and piled up on stocks to kick off this first trading week following Thanksgiving. Sinking bond prices pushed yields up, translating into a rate increase (since last week) of about 0.25%. Holiday shoppers didn’t disappoint over the weekend, and manufacturing data released this morning

WeeklyBasis 11/24/03: Rates Poised For Rise In 2004

Rates and commentary below are for the week of November 24, 2003. Last week was the lowest rate week since all-time record lows in June. This could change by the end of the Thanksgiving holiday. Despite being a shortened market week, it is heavy on economic releases. Revised 3rd quarter GDP, Consumer Confidence Index, October’s

WeeklyBasis 11/17/03: Best Rate Week Since June’s 40yr Lows

Rates and commentary below are as of November 17, 2003. Rates are down about 0.25% across the board since last week, as investors sold equities (because of terrorism worries and end-of-year tax positioning) and bought safer bonds (driving bond prices up and yields down). This has continued into Monday trading. This week’s main economic news

WeeklyBasis 11/10/03: Rates Lowest Since 1960s

Rates and commentary below are as of November 10, 2003. Rates on 15yr and 30yr fixed loans are up about 0.2% from last Monday, but ARM rates are holding near their lows. No major economic news scheduled for release until this Friday, so the bond market and rates should be relatively calm until then. The