Mortgage Update December 31 2015

“Mortgage Bonds are slightly higher after successfully bouncing off support yesterday. It is the last trading day of the year and the S&P 500 will be fighting to remain positive for 2015, holding on to a modest 0.7% gain. The Nasdaq is up about 7%. The Dow, however, is down 0.8% in 2015. With a slight rise in Mortgage Bond prices, I will continue to recommend locking to secure any gains. Happy New Year!”

Mortgage Update December 30 2015

“Mortgage Bonds are lower and are now at important support levels. If Bond prices do not improve or worsen from these levels, it will be further negative for mortgage rates in the near-term as the next level of support for Mortgage Bonds is far below current levels. I will continue to recommend locking until Bond prices can stabilize. If anything changes, I will get back to you.”

Mortgage Update December 29 2015

“Mortgage Bonds are trading lower and giving up some of yesterday’s modest gains. Trading volume has been light in this holiday shortened week and will get even lighter as we approach New Year’s Eve. I don’t expect any big pricing moves this week, but if low volume exaggerates trading activity, I will quickly contact you. Locking is recommended.”

Mortgage Update December 28 2015

“The holiday shortened week will most likely be quiet with most of the big players having already closed the books for the year. There were no economic reports due for release today and the rest of the week’s calendar is on the light side. With the recent turbulence, I will continue to recommend locking until such time that I can clearly see a few days of stabilization. Have a great week!”

Mortgage Update December 24 2015

“Mortgage Bonds are near unchanged levels in what is shaping up to be a very quiet session. I expect little movement in the markets today ahead of the Christmas holiday … but if something happens I will alert you. Have a great long weekend! Happy Holidays!”

Mortgage Update December 23 2015

“Mortgage Bonds continue to follow the path of least resistance lower as Stock prices rally for the third straight day. Inflation remained tame in November as evidenced by the Core PCE, while Personal Income & Spending was in line with estimates. I will continue to recommend locking until I can see some type of stabilization for Mortgage Bond prices. If anything changes, I will get back to you.”

Mortgage Update December 22 2015

“Mortgage Bonds are following the latest trend and are edging lower this morning. In economic news, the final reading for Q3 Gross Domestic product came in at a paltry 2%, not a number associated with a solid economic recovery. With Stock prices rising this morning and Mortgage Bonds trending lower, I will continue to recommend locking. If anything changes, I will get back to you.”

Mortgage Update December 21 2015

“Mortgage Bonds are starting the holiday shortened week modestly higher, while Stock prices are rallying. There are no economic reports set for release today, but the rest of the week sees Q3 Gross Domestic Product, Existing and New Home Sales, Personal Income & Spending, Durable Orders, Consumer Sentiment and Core PCE. With Mortgage Bond prices up against stiff resistance levels, I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update December 18 2015

“Mortgage Bonds are modestly higher and well off the opening and best levels of the day. There were no economic reports due for release today. Despite big losses in the Stock markets yesterday and today, Mortgage Bonds have been unable to mount any meaningful gains. I am recommending locking. Have a great weekend!”

Mortgage Update December 17 2015

“Yesterday the Fed finally raised rates for the first time in almost a decade. Mortgage Bonds, in a somewhat counterintuitive response to some media people, moved higher yesterday and are continuing to move higher so far this morning. Lower oil prices are pushing Stock prices lower, which is also helping to push Bond prices higher. I am recommending carefully floating, for sentiment can quickly reverse in this fast moving market. If anything changes, I will get back to you.”