Mortgage Update June 30 2015

“With no deal yet struck in Greece, Mortgage Bonds are near unchanged, while Stock prices push higher. Headlines continue to read that a deal could be struck, but no concrete news of such has emerged. In economic data, the June Chicago PMI was a bit lower than expected, while Consumer Confidence surged in June. In housing, the Case Shiller 20-city Index year-over-year came in near expectations. I am recommending carefully floating, though at any given moment that could quickly change to locking given the headline risk associated with Greece. If anything changes, I will get back to you.”

Mortgage Update June 29 2015

“Mortgage Bonds are higher, though off their best levels after no deal was reached in debt plagued Greece, while global Stock markets decline.
In economic news, May Pending Home Sales were up, but below expectations, while the April numbers were revised lower. To begin the holiday shortened week, carefully floating is recommended. If anything changes, I will get back to you. Have a great week!”

Mortgage Update June 26 2015

“Mortgage Bonds continue to push lower as Greece now has until Monday to strike a deal, though new reports are pointing towards another extension.
Higher Stock prices are also putting pressure on the Bond markets. The can looks to be kicked down the road as far as the Greek debt woes are concerned. I will continue to recommend locking until the uncertainty surrounding Europe is lifted. Have a great weekend!”

Mortgage Update June 25 2015

“There has been no resolution reached yet in Greece, but recent headlines are possibly pointing to a deal being struck. Due to the headlines, Mortgage Bonds are trading lower once again today. In economic news, Personal Spending rose at its fastest pace in six years, while inflation remains tame. To avoid any headline risk associated with the Greek talks, I will continue to recommend locking. If anything changes I will get back to you.”

Mortgage Update June 24 2015

“Mortgage Bonds are slightly higher as the debt talks between Greece and its creditors are now at a standstill. In economic news, the final reading for first quarter 2015 Gross Domestic Product showed contraction, but better than the previous reading. I will continue to recommend locking to avoid any headline risks associated with the talks over in Europe. If anything changes, I will get back to you.”

Mortgage Update June 23 2015

“Mortgage Bonds are following the path of least resistance … lower this morning. Optimism surrounding a deal in Greece coupled with better than expected economic data from Durable Orders and New Home Sales are weighing on the Bond markets. I will continue to recommend locking until such time I can see signs of stabilization. If anything changes, I will get back to you.”

Mortgage Update June 22 2015

“Mortgage Bonds are lower to begin the week, being pressured by a possible deal in Greece this week. In addition, solid numbers from May Existing Home Sales are also weighing on the Bond markets. With Bond prices lower and a possible deal being reached in Greece, I am recommending locking to avoid the headline risk. If anything changes, I will get back to you. Have a great week!”

Mortgage Update June 18 2015

“Mortgage Bonds are near unchanged, though off their best levels after better than expected economic data hit the wires this morning. In industry news, the Consumer Financial Protection Bureau announced that it will be delaying TILA-RESPA Integrated Disclosure rule (TRID) until October 1. I will continue to recommend carefully floating, but in this swift moving market, sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update June 17 2015

“Mortgage Bonds are drifting lower this morning as global yields are on the rise once again. There were no economic reports released today, but the Treasury will be selling a considerable amount of 3-year Notes, which could impact trading later this afternoon. I am recommending carefully floating, but be mindful that the Bond markets look weak and may get even weaker as the day progresses. If anything changes, I will get back to you.”

Mortgage Update June 16 2015

“After the recent steep decline, Mortgage Bonds are rebounding this morning as they try to search for a bottom and stabilize. In economic news, both May Retail Sales and Weekly Initial Jobless Claims came in near expectations. Over in the housing sector, cash sales now make up nearly 35% of total home sales, down from the 46.5% recorded in January 2011. With today’s modest rise, I am recommending carefully floating. However, sentiment can turn on a dime. If anything changes, I will get back to you.”