Today's Interest Rate News
January 29, 2015; 9:49am
Interest rate trends: Today – Slightly higher; 10 days – Flat; 25 days – Lower
Interest rate recommendation: Consider locking.
Mortgage bonds (MBS’s) are struggling this morning after yesterday’s rally. Currently MBS’s are worse by -13bps, but still better than the start of yesterday. Initial Jobless Claims hit a 15 year low, but Pending Home Sales drop 3.7% in December. Mortgage bonds are still trying to figure out where to go post ECB announcement last week and the Fed statement yesterday. We’d like to see MBS’s improve as the day moves on, but if they get any worse, we will recommend locking. With the economic and political uncertainty in Europe, we expect interest rates to stay low for at least the next 3 to 6 months. Have a great day!