Your Arizona Mortgage Blog

In one of the most volatile weeks ever seen, important economic news came out every day and produced major reactions in financial markets. Investor uncertainty is extremely high, amplifying the price movements. As stock prices fluctuated wildly, so did mortgage rates, which reached new lows for t...

Treasuries and mortgages rallied yesterday afternoon on growing concerns over the soverign debt crisis affect on French banks along with Europe in its entirety.  This morning we've given back some of those gains following jobless reports which showed that claims unexpectedly declined last week. I...

Yesterday afternoon, the FOMC announced that it will keep its benchmark interest rate at record lows through mid 2013.  After the announcement the stock market quickly rebounded from the previous day's huge losses and mortgage bonds rallied.  Today we are higher from yesterday's close as fears ov...

The Fed will be meeting today after the unprecedented downgrade of the U.S.'s debt rating shook investor confidence in the economic recovery, and sent the DOW down over 600 points to end the day below 11000.  Bonds are dropping this morning on speculation that the Fed will unveil another stimulus...

The biggest economic event next week will be Tuesday's Fed meeting. Given the large stock market decline this week and the uncertainty about the economy, investors will be looking for indications on whether the Fed will provide additional monetary stimulus. The most significant economic data will...

Early in the week, an agreement to raise the US debt ceiling was reached, avoiding a default on government debt, but investors found little time for relief. Concerns about debt problems in Europe and the slow pace of global economic growth sparked a large rally in US bond markets and a large decl...

The DOW dropped 512 points yesterday, but rates also fell to record lows yesterday.  This morning however we had some positive economic data which is reversing much of the gains from yesterday in the mortgage backed security market.  The unemployment rate showed a drop to 9.1 percent, and the pay...

Treasuries are continuing to rally as fears continue over the U.S. economy potentially slipping back into a recession.  Today's economic news schedule is relatively quiet with applications for jobless benefits decreased to 400K, showing limited improvement in the labor market. 

Yesterday, treasuries and mortgage bonds rallied for the fourth consecutive day as the debt ceiling issue was put to rest and the market shifted its focus to the broader economy.  Bonds are moving higher again today after the release of some disappointing minor employment data which could be a pr...

Treasuries and mortgage bonds opened higher this morning.  The House passed the debt ceiling measure last night, and the Senate will be voting later this afternoon.  The deadline for lawmakers to reach a resolution on the debt ceiling is midnight tonight.  In economic news, personal spending unex...