Mortgage Update December 30 2016

“Mortgage rates continued to edge higher this week, but they could be topping out for the time being as the Stock market rally pauses and Bond yields push lower.

There were no high impact economic reports due to be released in this holiday shortened trading session.

I will continue to recommend carefully floating headed into the end of the year.

Have a great weekend! Happy New Year!”

Mortgage Update December 29 2016

“U.S. Bond yields have pushed lower this week, which has aided in halting the surge in mortgage rates headed into the end of the year.

There were very few headlines or any big impact economic reports to influence trading today.

I will continue to recommend carefully floating, but be aware sentiment can quickly reverse.

If anything changes, I will get back to you.”

Mortgage Update December 28 2016

“Higher U.S. Bond yields are attracting buyers today as mortgage rates begin to stabilize after their recent spike higher.

November Pending Home Sales will be released this morning, while the Treasury will announce the results of today’s 5-year Note offering this afternoon.

I will continue to recommend carefully floating. If anything changes, I will get back to you.”

Mortgage Update December 27 2016

“Mortgage rates are at the 2016 highs as year comes to an end, while Stock prices hover near all-time highs.

In housing news, the Case-Shiller 20-city Home Price Index showed a solid gain as the housing market continues to improve.

I will begin the day recommending carefully floating, but that can quickly change as Mortgage Bond prices begin the week lower. If anything changes, I will get back to you.

Have a great week!”

Mortgage Update December 23 2016

“Not much action in the capital markets today to impact mortgage rates as the long holiday weekend approaches.

Later this morning, New Home Sales and Consumer Sentiment will be released, but I don’t see much of an impact on rates or Bond prices.

I will continue to recommend carefully floating. If anything changes, I will get back you.

Happy Holidays!”

Mortgage Update December 22 2016

“Tame inflation data in November is supporting Mortgage Bond prices, while mortgage rates hover near the 2016 highs.

The Federal Housing Finance Agency reported that home prices rose modestly in October from the previous month, while cash sales for homes rose for the third straight month in September.

I will continue to recommend carefully floating, but be aware that a reversal lower could occur. If anything changes, I will get back to you.”

Mortgage Update December 21 2016

“Mortgage rates continued to edge higher in the latest week, now at highs not seen since May of 2014. However, to put it into perspective, rates are still historically low.

In housing news, November Existing Home Sales were essentially unchanged from October and had little impact on the markets or mortgage rates.

With Mortgage Bond prices modestly higher and above key technical levels, I will continue to recommend carefully floating. If anything changes, I will get back to you.”

Mortgage Update December 20 2016

“Bond yields continue to hover at the 2016 highs being pushed higher by the continued rally in the Stock markets. In turn, mortgage rates are also at 2016 highs.

There were no economic reports due for release today.

I am recommending carefully floating, but a reversal lower could happen as Stocks push higher. If anything changes, I will quickly alert you.”

Mortgage Update December 19 2016

“Mortgage rates begin the week at 2016 highs due to investors shifting out of the Bond markets and into riskier assets, such as Stocks, since the presidential election.

The Dow posted its 6th straight week of gains on Friday, its longest streak in a year. The blue-chip index is less than 1% away from the 20,000 mark.

Mortgage Bond prices are higher as investors look to bargain hunt at depressed prices. I am recommending carefully floating, but be aware that sentiment can reverse on a dime. If anything changes, I will get back to you.

Have a great week!”

Mortgage Update December 16 2016

“Weak housing numbers are supporting Mortgage Bond prices this morning, but given the recent decline in Bond prices and higher yields, mortgage rates continue to hover at 2016 highs.

Housing Starts and Building Permits both declined in November from October, but the October numbers were revised higher.

Mortgage rates seem to be on fragile ground and because of this, I am recommending locking. If anything changes, I will get back to you.

Have a great weekend!”