Mortgage Update August 31 2015

“Mortgage Bonds are getting a slight bounce from lower Stock prices to begin the week. The fear of a September rate hike is spooking Stocks as the volatility continues to dominate market fluctuations. The week features the closely watched August Payrolls Report, which will be released Friday morning at 8:30am ET. I will continue to recommend carefully floating, but sentiment can quickly reverse. If anything changes, I will get back to you. Have a great week!”

Mortgage Update August 28 2015

“After a turbulent week, Mortgage Bonds are showing some signs of stabilization, being supported by lower Stock prices and tame inflation data. I am recommending carefully floating to end the week, but in this volatile market sentiment can quickly reverse. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update August 27 2015

“Mortgage Bonds opened near unchanged, but were pushed lower by a strong economic growth reading. The government reported that Gross Domestic Product, the value of all finished goods produced in the U.S., surged in the second reading for the second quarter of 2015. Stock markets continue to rally after a Fed official said yesterday that a September rate hike seems “less compelling.” I will continue to recommend locking until such time that I can see some stabilization in the Mortgage Bond markets. If anything changes, I will get back to you.”

Mortgage Update August 26 2015

“Mortgage Bonds are trading lower as Stock prices surge at the open of trading as equities try to rebound from a six-day slide. Weighing on Bond prices was a much better than expected July Durable Orders report. In addition, within the report it showed that business investment posted its largest gain in 13 months. With Stock prices back on the rise and Mortgage Bond prices slipping, I will continue to recommend locking. If anything changes, I will get back to you.”

Mortgage Update August 25 2015

“Stocks are rebounding sharply higher this morning after their recent rout, which is pushing Mortgage Bond prices lower. In economic news, the Case Shiller 20-city Index came in near expectations, while Consumer Confidence and New Home Sales will be released at 10:00am ET. With Stock prices rebounding, I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update August 24 2015

“Global growth concerns, falling oil prices coupled with an 8% drop in China’s Shanghai Composite overnight are causing Stock prices to plunge around the world, while pushing cash to the safe haven of Bond markets. There are no economic reports due for release today, but the rest of the week will see housing data, consumer sentiment and confidence along with the closely watched second reading from 2015 Q2 Gross Domestic Product. With the big move lower in Stock prices, I am recommending carefully floating. However, Stock prices are well off their early session lows, while Mortgage Bond prices are well off their highs. In this market environment, sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update August 21 2015

“Despite a big move lower in the Stock markets this morning, Mortgage Bonds are near unchanged and just beneath a very tough ceiling of resistance.
There are no economic reports due for release today. I will continue to recommend locking. Mortgage Bond prices are at the top of the short term trading range and can’’t seem to muster up enough strength to push higher. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update August 20 2015

“Stock prices are plunging in sympathy to big losses seen in Asia and Europe. This has given a boost to Mortgage Bond prices. The rise in Mortgage Bonds comes despite positive news from Existing Home Sales and an increase in Weekly Initial Jobless Claims. With Mortgage Bonds back at the short term highs, I will continue to recommend locking. If anything changes, I will get back to you.”

Mortgage Update August 19 2015

“Mortgage Bonds are drifting lower, this despite turbulence in the Stock markets and low inflation data from the Consumer Price Index. The Fed minutes from the July 29 Fed meeting will be released at 2:00pm ET today, and we may get some hints on interest rate moves. The question will be if the Fed signals for a September hike. With Mortgage Bond prices edging lower in what should be a Bond friendly environment, I will continue to recommend locking, until such time that I can see prices stabilize. If anything changes, I will get back to you.”

Mortgage Update August 18 2015

“Mortgage Bonds are near unchanged levels, despite modest losses in the Stock markets. Weighing on Bond prices was a positive report from Housing Starts, which hit their highest levels in nearly eight years. I am recommending locking as Mortgage Bond prices have fallen below several key technical support levels. If anything changes, I will get back to you.”