Credit News

Mortgage Credit News By Louis S. Barnes – 7/6

Nothing happened this week. Oh, the temptation some Friday just to leave it at that. Plenty did happen, of course, but markets are focused on the list of what’s happening that hasn’t quite happened yet. Market people are consumed by news and vice-versa whether they want to be or not — they must stand in…

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Mortgage Credit News By Louis S. Barnes – 6/29

It’s early for that bugaboo, but it is mercifully obscured by another one: “yield curve inversion.” First the data, then define the terms, study the patterns, and make a wild guess. Monthly orders for “durable goods” are a valid signal for business conditions, and the word from May was surprising: volatile orders for transportation aside…

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Mortgage Credit News By Louis S. Barnes – 6/22

Markets held tight ranges this week, the 10-year T-note entering its sixth month trading between 2.90% and 3.00%, lowest-fee mortgages roughly 4.75% throughout. The week brought little new economic data, and efforts to think about anything were discombobulated by political eruptions. The most important economic aspect, the onset of tariff war was still tops on…

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Mortgage Credit News By Louis S. Barnes – 6/15

Long-term US interest rates today are the same as one week ago. How we have arrived at unchanged is a good yarn. The eventful last week began with the G-7 meeting and our declaration of war on Canada. Prime Minister Trudeau got his “special place in hell” by objecting to US tariffs imposed by Trump…

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Mortgage Credit News By Louis S. Barnes – 6/8

This past week has been quiet in anticipation of the five-ring circus in the week ahead. The program: G7 meetings underway now and through the weekend, the Kim summit and European Central Bank (ECB) on Tuesday, the Fed on Wednesday, and the Bank of Japan (BOJ) on Thursday. Each event can have significant economic effect,…

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Mortgage Credit News By Louis S. Barnes – 6/1

All of these forces in play: the Kim summit, Italy, Fed, tariffs, inflation, economy, jobs, and the president — which are drivers, and which are noise? This week markets told us. And when the Fed finishes its meeting on June 13, markets will tell us a lot more. The two biggest financial markets are stocks…

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Mortgage Credit News By Louis S. Barnes – 5/25

On the Friday before Memorial Day markets close early, and the whole week is usually a snoozer, Wall Street big shots already headed for the Hamptons to kick sand on weaklings. Surprise! And not just one… too many to count. In the biggest effect of all of the surprises, long-term rates have come down —…

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Mortgage Credit News By Louis S. Barnes – 5/18

Only two financial markets moved this week: oil, Brent crude reaching $80/bbl, and long-term rates rising decisively, the 10-year T-note to 3.12% taking mortgages within an inch of 5.00%. The two moves are not linked. Oil is up because an excess in storage has been drawn down, and the Saudi/Russia combine has one foot on…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – 5/11/18

Markets are unusually steady, mortgages, bonds and stocks — although not truly “steady,” just not moving. The US 10-year T-note has traded between 2.85% and 2.97% since early February, in a disquiet world, an eternity. Two little excursions above 3.00% and below 2.80% could not hold long enough for an album snapshot. The Fed is…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

Mortgages and housing continue to dodge Fed bullets. The 10-year T-note is steady near 2.95%, which holds 30-fixed mortgages near 4.75%. First the data, then the Fed. The first Friday of each month brings the data-gorilla: job market results from the immediately prior month. April payrolls grew by 164,000 jobs, about as forecast but double…

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