European banks borrow only €132 billion compared to €210 billion that had been expected; Private employers add a paltry 13,000 jobs - Rate Lock Report for June 30, 2010 Yesterday, global equity markets dropped sharply on serious worries about liquidity in the European banking system. We learned t
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06/30/2010
European Liquidity Worries Hammer Markets; US Consumers' Outlook Glum; Home Prices Rise Slightly; 10-year Treasury Breaks Through 3% - Rate Lock Report for June 29, 2010 When I first saw the headlines and initial quotes this morning, the phrase, "Smoke 'em if you got 'em" came to mind. It was th
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06/29/2010
Last week's average 30-year fixed rate was a record low 4.69% - Could this week's be even better? - All sorts of employment data coming this week - Rate Lock Report for June 28, 2010 The week of June 21-25, 2010 saw a new all-time low mortgage rate as data brought into question the health of the
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06/28/2010
Mortgage sell off yesterday was mostly profit taking; rates headed back towards lowest on record - Rate Lock Report for Friday, June 25, 2010 Many of us who were floating loans yesterday were shocked yesterday when a market that had opened significantly stronger sold off gradually throughout the
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06/25/2010
Unemployment Claims Fall Slightly, Durable Goods Orders Less than expected, but traders want none of it - Rate Lock Report for June 24, 2010 Yesterday, the Federal Reserve Open Markets Committee said exactly what I expected: Economic recovery continues, but is not as strong as expected; inflation
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06/24/2010
Federal Reserve ends two-day meeting, makes policy announcement at 2:15 PM today, but it's their wording that will influence markets much more than their action - Rate Lock Report for June 23, 2010 The policy action the Federal Reserve Open Markets Committee will take today is almost universally
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06/23/2010
Economists expect 6.1% rise, market delivers 2.2% decrease in existing home sales; Europe's biggest bank BNP Paribas SA sees its rating cut -- Rate Lock Report for June 22, 2010 Yesterday, markets opened strong on news of China's liberalization of currency trading policy, only to soften throughou
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06/22/2010
Currency rise would mean imports more expensive, but what is the implication for rates? Rate Lock Report for June 21, 2010 When I wrote the rate update last Friday, I wasn't expecting we'd have much to talk about today. I was wrong. Over the weekend, China made a major announcement, saying that i
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06/21/2010
Big miss in manufacturing survey of Philadelphia region adds support to bonds; Quadruple-witching today, especially after 3:00 PM EST; USA-Slovenia at 9:30 AM - Rate Lock Report for June 18, 2010 Happy Friday! At least Celtics fans can celebrate that fact after last night's heartbreaking defeat.
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06/18/2010
BP suspends dividend to fund $20 Billion cleanup and compensation fund; Energy prices drive wholesale inflation negative - Rate Lock Report for June 17, 2010 Yesterday, we received several economic reports, but there were other headlines driving mortgage rates too. Wholesale inflation, through th
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06/17/2010
