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Massachusetts Mortgage Rates
Massachusetts mortgage rates last week (edit/delete)
Last week Massachusetts mortgage rates, between Tuesday and Thursday, rose as much as during any three-day period in recent memory before settling back a bit on Friday's jobs data. What Happened many of the Fed members spoke they were partly to blame for the mortgage rate chaos, but several other factors played a part, too. One of the biggest other factors last week was that multiple big-name investors were "margin-called". Now, margin is a basic financial concept, but to do a good job explaining it requires a lot of numbers and math. Bu here is a basic answer, A broker's demand on an investor using margin to deposit additional money or securities so that the margin account is brought up to the minimum maintenance margin. This is sometimes called a "fed call" or "maintenance call". You would receive a margin call from a broker if one or more of the securities you had bought (with borrowed money) decreased in value past a certain point. You would be forced either to deposit more money in the account or to sell off some of your assets. The extra supply from the margin calls created a stronger push downward on mortgage bond prices than markets would have seen without the margin calls. This, of course, caused mortgage rates to rise faster than they would have without the margin calls, too. Only after February's weak job numbers were reported Friday did mortgage rates recover. Overall, rates were higher on the week and -- at one point Thursday -- touched their highest levels in several months. There Are several key economic reports this week and that should let us know were rates are going to head. Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Download
Tue. Mar. 11
08:30
Balance of Trade
Jan
-$59.5B
-$58.8B
Moderate
Wed. Mar. 12
10:30
Crude Inventories
3/08
NA
-3056K
Moderate
Thu. Mar. 13
08:30
Retail Sales ex-auto
Feb
0.2%
0.3%
HIGH
Thu. Mar. 13
08:30
Jobless Claims (Initial)
3/08
360K
351K
Moderate
Thu. Mar. 13
08:30
Retail Sales
Feb
0.1%
0.3%
HIGH
Fri. Mar. 14
08:30
Consumer Price Index (CPI)
Feb
0.3%
0.4%
HIGH
Fri. Mar. 14
08:30
Core Consumer Price Index (CPI)
Feb
0.2%
0.3%
HIGH
Fri. Mar. 14
10:00
Consumer Sentiment Index (UoM)
Mar
70.5
70.8
Moderate
*
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