| 361. | Financial Markets Mark Time Ahead of Fed
Stocks and bonds closed near where they opened today, as the markets were loath to make any big moves prior to tomorrow's Fed meeting. After selling off yesterday, U.S. Treasury securities held their ground in spite of a big drop in oil prices. OStocks adopted and "wait and see" posture, with the Nasdaq adding four points and the Dow Jones dropping almost five. The only economic news showed wholesale inventories in October rising by 0.5 percent--less than expected. Strong auto sales were res..
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| Article XML Feed | | - Tuesday, November 09, 2004 |
| | 362. | Treasury Yields Creep Up But Mortgage Rates Hold
Stocks barely moved today in the face of uncertainty over the Fed decision on interest rates due out Wednesday, but U.S. Treasury securities continued to sell. A strong October employment report sent chills through the bond pits as traders now fear aWall Street is also waiting on the Fed. In addition, it was victimized by a little profit taking after the big post-election rally last week. The major indices closed at right about break even, which meant they held last week's gains. A dozen Dow..
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| Article XML Feed | | - Monday, November 08, 2004 |
| | 363. | Mortgage Rates Hold on Eve of Employment Report
Wall Street went wild today, but U.S. Treasury securities were more subdued as they awaited tomorrow's October employment report. A drop of 19,000 in first-time unemployment claims could have hurt them--but it didn't. And the steep decline inEconomic news had little effect on the financial markets, which appeared to open their sessions with preset agendas. Treasuries played it close to the vest, while stocks continued yesterday's rally. It appeared to be a three-pronged rally due to ..
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| Article XML Feed | | - Thursday, November 04, 2004 |
| | 364. | Mortgage Rates on the Move
A whopping 337,000 jobs were added to non-farm payrolls in October--the best gain since March. And payroll numbers for September and August were revised upward. The news spurred yet another Wall Street rally, but U.S. Treasury securities plunged as tThe 15-year Conventional Fixed Rate Mortgage was at 4.962 percent from 4.901 percent., ..
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| Article XML Feed | | - Friday, November 05, 2004 |
| | 365. | Mortgage Rates Stuck in Neutral
Stocks rallied today on two fronts: relief that the election has been decided, and in support of President Bush. The big surge in the equity markets drew funds from U.S. Treasury securities, sending prices on government issues down and yields, which Wall Street welcomed the apparent win by President Bush long before the markets opened, with stocks soaring at the opening bell. Investors believe that a Bush administration will be more friendly toward big business, and pharmaceutical, defense and a..
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| Article XML Feed | | - Wednesday, November 03, 2004 |
| | 366. | Exit Polls Boost Treasuries, Sink Stocks -- Mortgage Rates Hold
Although volume was light, stocks traded in positive territory until the last hour of the session and U.S. Treasury securities traded down. Another drop in oil prices and the belief among Wall Street denizens that the election would be decided withinA discouraging report on retail sales for last week from the ICSC and announced job cuts in October that topped 100,00 for the second straight month were shrugged off by the equity markets, which focused on falling oil prices and optimism that the el..
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| Article XML Feed | | - Tuesday, November 02, 2004 |
| | 367. | Mortgage Rates Don't Move
A pair of reports that offered the possibilities of economic growth and inflation--two sworn enemies of U.S. Treasury securities--sent Treasury prices down and their yields, which move in the opposite direction of prices, up. The party-wreckers were Stocks held close to unchanged today as Wall Street awaited the election. The Dow Jones and the Nasdaq gained 0.25 percent each, while the S&P 500 closed flat. The financial markets are hoping more than anything that by Wednesday morning there will b..
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| Article XML Feed | | - Monday, November 01, 2004 |
| | 368. | Weak GDP Keeps Mortgage Rates Low
An advance look at third-quarter GDP came in at 3.7 percent--better than the 3.3 percent posted last quarter, but way below the 4.1 percent increase analysts were expecting. The disappointing reading led traders to believe the Fed might back away froStocks had another tough day, but closed positive for the week due to a strong two-day rally on Tuesday and Wednesday. Wall Street had little to react to, with oil prices holding near lower levels and the weak GDP being countered by the strong Chicag..
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| Article XML Feed | | - Friday, October 29, 2004 |
| | 369. | Mortgage Rates Hold in Spite of Volatility
Volatility was the watchword today and U.S. Treasury securities were all over the map. Early today China announced an increase in its short-term interest rates (much like the Fed does in the U.S.) with the intention of slowing its economy, which is gStocks also had a rocky day, falling on the possibility of a global economic downturn in the wake of China's rate hike. Wall Street was also ripe for profit taking after a two-day rally that saw the Nasdaq gain almost 3 percent and the Dow Jones ..
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| Article XML Feed | | - Thursday, October 28, 2004 |
| | 370. | Oil Tanks Treasuries--Mortgage Rates Hold for Now
It looked like it was going to be good day for U.S. Treasury securities and a gruesome day on Wall Street, but a report showing higher-than-expected inventories of crude oil and gasoline turned things around in a hurry. Treasuries have prospered fromEconomic news today was mixed, with home sales in September surprising analysts by rising 3.5 percent to an annual rate of 1.206 million units. Low mortgage rates last month were credited for the strong sales, and because rates continued at low level..
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| Article XML Feed | | - Wednesday, October 27, 2004 |
| | 371. | Mortgage Rates Remain at Seven-Month Lows
U.S. Treasury securities withstood a bout of selling today that enabled mortgage rates to hold at seven-month lows. Treasuries opened to the upside, rising on another drop in consumer confidence. But a big Wall Street rally that lured funds from goveThe Dow Jones had its best session in a while, adding 140 points--or 1.3 percent. High, but relatively stable oil prices, a possible speedy resolution to problems in the insurance industry, and oversold conditions set Dow stocks on fire. All but thre..
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| Article XML Feed | | - Tuesday, October 26, 2004 |
| | 372. | 30-Year FRM Edges Down, Other Rates Hold
The rate on the 30-year-fixed mortgage edged down to 5.375 percent today after holding at 5.5 percent for seven of the last eight weeks. For the last few days the 30-year has been flirting with the lower rate, but today it finally slid, as a fresh baStocks opened down but closed almost unchanged. The only economic news showed existing-home sales growing by a stronger-than-expected 3.1 percent to an annual rate of 6.75 million units in September. August sales were also revised upward. This gave h..
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| Article XML Feed | | - Monday, October 25, 2004 |
| | 373. | Mortgage Rates Remain at Attractive, Low Levels
Oil prices hit yet another new high today, closing well over $55 a barrel. Escalating oil prices continue to feed hope among U.S. Treasury traders that high prices will slow future short-term interest rate hikes by the Fed, as suggested earlier this Stocks suffered big losses today, with the Nasdaq shedding 2 percent and the Dow Jones losing more than 1 percent--an 11-month low. Widespread concern about the price of oil and its effect on economic growth, and disappointment over September-quarter..
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| Article XML Feed | | - Friday, October 22, 2004 |
| | 374. | Mortgage Rates Hold Amid Volatility
It was a volatile day in the bond pits, with traders reacting to a number of reports. Early news showed first-time jobless claims dropping by 25,000--way more than expected. But when it was learned the decline was due to a seasonal adjustment, sellinThese statements, along with rising oil prices, kept buying steady until the Philly Fed survey on manufacturing conditions was released. The index rose sharply in October, spurring selling in Treasuries. Upon further investigation, however, it was no..
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| Article XML Feed | | - Thursday, October 21, 2004 |
| | 375. | Big Treasury Rally Sends Some Mortgage Rates Down
Another spike in oil prices and safe-haven buying in the wake of disappointing corporate news sent Treasury prices soaring and their yields, which move in the opposite direction of prices, down. The yield on the bellwether 10-year note, which mortgagA big miss by JP Morgan and a glum report from Countrywide Mortgage set a negative tone for the markets, with financials leading the slide. The insurance industry also continued to suffer at the hands of New York Attorney General Eliot Spitzer, who i..
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| Article XML Feed | | - Wednesday, October 20, 2004 |
| | 376. | Mortgage Rates Unmoved by CPI
In spite of slightly stronger consumer price index (CPI) data than traders wanted to see, U.S. Treasury security yields held close to yesterday's levels. The CPI for September, which checks for inflation at the retail level, showed an increase ofStocks rose in the morning as oil prices slid due to profit taking and hints of waning global demand. Wall Street was also bolstered by strong earnings reports from IBM and Texas Instruments, which boosted technology and supported the market as a who..
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| Article XML Feed | | - Tuesday, October 19, 2004 |
| | 377. | Mortgage Rates Hold Steady
It looked like it might be a down day for U.S. Treasury securities, which were under slight selling pressure early in the session. But some discouraging words from Fed governor Mark Olson were encouraging to traders. Taking an opposite stance from whStocks had a choppy day, weighed down early by new record prices in oil. But techs pulled the markets higher and all the major indices closed in positive territory. And profit takers moved into the oil markets, sending oil prices down. Technology reb..
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| Article XML Feed | | - Monday, October 18, 2004 |
| | 378. | Mortgage Rates Remain Low
A slew of mixed economic messages combined with encouraging words from Fed Chairman Alan Greenspan resulted in a volatile day for U.S. Treasury securities. Traders sold early on word that retail sales soared 1.5 percent last month--twice what was expStocks managed to close with moderate gains, bolstered mainly by the news that the consumer is spending again. Both the Dow Jones and the Nasdaq were positive a good part of the session, but all three major indices were negative for the week. Of the ..
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| Article XML Feed | | - Monday, October 18, 2004 |
| | 379. | Do No-Cost Mortgages Really Cost Nothing?
If you’re like most people, when you go house hunting and find out what the loan to buy that home will actually cost, you probably wonder if you could somehow manage to get a no-cost mortgage. You can. The real question is: Can you afford one? That’sAll loans cost money, and the “no-cost” variety is just one of four different ways to “pay” that cost, explains Glenn Holland, the president of Pacific Crest Mortgage in Bakersfield, California. Before we look at the no-cost loan in detail, let’s loo..
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| Article XML Feed | | - Monday, October 18, 2004 |
| | 380. | Mortgage Rates Remain Low
A slew of mixed economic messages combined with encouraging words from Fed Chairman Alan Greenspan resulted in a volatile day for U.S. Treasury securities. Traders sold early on word that retail sales soared 1.5 percent last month--twice what was expStocks managed to close with moderate gains, bolstered mainly by the news that the consumer is spending again. Both the Dow Jones and the Nasdaq were positive a good part of the session, but all three major indices were negative for the week. Of the ..
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| Article XML Feed | | - Friday, October 15, 2004 |
| | 381. | Mortgage Rates Slide as Oil Prices Rise
A trio of bond friendly reports sent prices on U.S. Treasury securities soaring and their yields, which move the opposite direction of prices, plunging. Oil prices hit yet another new high today, this time on concerns over low heating oil inventorieRising oil prices put negative pressure on stocks, which were hurting from a weak earnings report from GM that was accompanied by grim guidance. Adding to Wall Street's woes was an announcement by New York Attorney General Eliot Spitzer that he w..
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| Article XML Feed | | - Thursday, October 14, 2004 |
| | 382. | Rising Oil Prices Keep Mortgage Rates Low
Once again a spike in oil prices kept mortgage rates low. U.S. Treasury securities opened the day with prices and yields holding near yesterday's levels, but news that heating oil inventories are low sent the price of oil surging. As oil prices aStocks were not so fortunate. Although they opened to the upside due to bargain hunting in technology and positive reports from Intel, Yahoo! and McDonald's, the euphoria ended when oil prices zoomed and China said it wants to slow its economy. C..
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| Article XML Feed | | - Wednesday, October 13, 2004 |
| | 383. | Treasuries Rally On, Keeping Mortgage Rates Low
U.S. Treasury securities continued their rally after taking a three-day weekend break. Elation over Friday's mediocre employment report and this morning's sky-high oil prices resulted in a rush of buying that sent Treasury prices soaring and Wall Street mirrored Treasuries today, opening down on word that overnight oil prices had risen to well over $54 a barrel. But prices slid almost $2 a barrel, and stocks reversed course, closing well off their lows. Although the major indices ended i..
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| Article XML Feed | | - Tuesday, October 12, 2004 |
| | 384. | Mortgage Rates Hold
The bond markets were closed today in honor of Columbus Day, so mortgage rates held near Friday's levels. Rates fell on Friday due to a huge rally in U.S. Treasury securities based on a disappointing September employment report. The rally sent TrThe stocks markets were opened today, but volume was light as investors cashed in on the opportunity to take a three-day weekend. All the indices posted modest gains, with 19 of the Dow Jones components closing in positive territory. Home Depot was t..
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| Article XML Feed | | - Monday, October 11, 2004 |
| | 385. | Weak Employment Numbers Send Mortgage Rates Down
The September employment report turned out to be nothing to fear. The addition of only 94,000 jobs to non-farm payrolls hurt for stocks, but it was good for bonds. Heavy buying in U.S. Treasury securities sent prices up and yields, which move in the There is little doubt that the September employment data will be revised--perhaps substantially--due to the skewing of numbers because of the hurricanes. But for now jobs were added and the unemployment figure remains at 5.4 percent. August job addit..
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| Article XML Feed | | - Friday, October 08, 2004 |
| | 386. | Fear of Friday -- Mortgage Rates Edge Up
U.S. Treasury securities weathered another rough session, with traders in selling mode prior to tomorrow's release of the September employment report. Although selling of Treasuries was not aggressive, prices fell as traders worried about a stronFirst-time employment claims fell by 37,000--the first decrease in four weeks--but this didn't affect the markets. The closely watched four-week moving average hit a seven-month high, coming in at 348,500. These numbers have been skewed, however,..
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| Article XML Feed | | - Thursday, October 07, 2004 |
| | 387. | Mortgage Rates Remain Unchanged
There was no economic news released today, which allowed the markets to look elsewhere for guidance. U.S. Treasury securities traders looked toward the September employment report, which will be released on Friday. Trading was hindered by comments mStocks spent most of the day moving in and out of positive territory, with investors finding little reason to buy. And the price of oil, which closed at yet another new high of $52.02 a barrel, added more pressure. But in the last hour of trading Ver..
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| Article XML Feed | | - Wednesday, October 06, 2004 |
| | 388. | 30-Year FRM Inches Back Down
A couple of weak economic releases and another rise in oil prices--this time above $51 a barrel--could have rallied U.S. Treasuries. But instead, worries about the Friday employment report, a statement from a Fed official and a new supply of 5- and 1Technology stocks tried to rally again and the Nasdaq managed to close in positive territory, but gains were slim. All the technology bellwethers, with the exception of JDS Uniphase, closed in positive territory. Some earnings warnings and downgrades..
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| Article XML Feed | | - Tuesday, October 05, 2004 |
| | 389. | Mortgage Rates Edge Up
It looked like it would be another tough day for U.S. Treasury securities, with prices diving and yields climbing early in the session. Part of the sell-off was due to a drop in oil prices, but investors also were drawing money from bonds and puttingTechnology stocks headed today's rally, with semiconductors once again leading the pack. In addition to chips, however, there were several technology companies outside chips that raised quarterly guidance and were rewarded with double-digit incre..
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| Article XML Feed | | - Monday, October 04, 2004 |
| | 390. | Treasury Sell-Off Sends Yields and Mortgage Rates Higher
Another sell-off in U.S. Treasury securities sent the yield on the benchmark 10-year note to its highest level in three weeks. Stronger-than- expected economic news sparked today's selling, as traders now believe that the Fed will continue with iWall Street began the fourth quarter with a bang. There were bargains to be had after a dismal third quarter, and they didn't go unnoticed. The Nasdaq gained 2.4 percent today, with an upgrade of chip gear makers spreading positive vibes througho..
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| Article XML Feed | | - Friday, October 01, 2004 |
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