Telis Demos

speaker

656 appearances 10 recordings 1 series first heard Jun 2018 last heard Dec 2024

Telis Demos’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why You Shouldn’t Expect a Rapid Drop in Mortgage Rates · 14 Aug 2024 podcast

usually mortgage rates are going with them. voice-verified

Well, so we did see mortgage rates kind of take a big tumble during last week's kind of market mess. voice-verified

But then we saw them tick back up in daily measures of mortgage rates. voice-verified

So a lot of times when we talk about mortgage rates, we're usually thinking about these weekly sort of averages. voice-verified

But there are some things that measure mortgage rates on a more day-to-day basis. voice-verified

And a lot of those things pointed to mortgage rates drifting back up over the course of the week. voice-verified

We saw mortgage rates kind of recover from this big drop that they had. voice-verified

And we saw treasuries do the same, right? voice-verified

We saw people pushing treasury yields back up a little bit. voice-verified

And so that's also typical. voice-verified

Things seemed, after people kind of got really nervous at the beginning of last week about the economy and about the market, that ebbed over the course of the week. voice-verified

And so that meant that stock prices came back up. voice-verified

Treasury yields came back up. voice-verified

mortgage bonds came back up. voice-verified

And then in turn, again, because what the bank is quoting you as a mortgage rate is sort of based off of all that. voice-verified

A lot of those daily measures that we also check in on, we saw those kind of going back up over the course of the week. voice-verified

So this is something that's been happening really for a couple of years now. voice-verified

Let's just go back to like what goes into a mortgage rate. voice-verified

You have the treasuries kind of forming the base of it and then you add things on top of it there. voice-verified

And then one thing you would add on top of that is, OK, what do investors want to pay for a mortgage bond that influences what they pay for the mortgage loans that go into that bond? voice-verified

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