Mortgage Update September 29 2017

“Home loan rates continued to hover just above all-time lows this week as reported by both the Mortgage Bankers Association and Freddie Mac. In economic news, inflation remained at low levels in August, while manufacturing activity in the Chicago area surged. I am recommending carefully floating as we head into the weekend. If anything changes, I will quickly alert you.
Have a great weekend!”

Mortgage Update September 28 2017

“Freddie Mac reports that home loan rates were unchanged this week and remain at historically attractive levels. The Bureau of Economic Analysis reported that the final read on second quarter Gross Domestic Product came in at a healthy 3.1% due in part to strong consumer and business spending. I am recommending floating for brand new clients with 30 plus days to close; otherwise borrowers would be wise to lock. If anything changes, I will get back to you.”

Mortgage Update September 27 2017

“The Mortgage Bankers Association reports that home loan rates edged higher in the latest week though they still remain just above historic lows. In housing news, Pending Home Sales in August fell from July due in part to limited listings and home prices far above incomes, reports the National Association of REALTORS(R). I am recommending carefully floating for those clients who have a lot of time to close. If anything changes, I will get back to you.”

Mortgage Update September 26 207

“Mortgage Bond prices are near unchanged, while Stocks rebound after their recent decline. In housing news, the S&P Case Shiller 20-city Home Price Index showed a solid increase from July 2016 to July 2017. Gains continue for home prices due in part to limited homes for sale and a robust jobs market. I am recommending carefully floating, but be aware that a speech from Fed Chair Yellen later this afternoon could cause some volatility. If anything changes, I will get back to you.”

Mortgage Update September 25 2017

“Mortgage Bond prices are near unchanged to start the week while Stock prices trade in negative territory. There were no economic reports scheduled for release today. Both Freddie Mac and the Mortgage Bankers Association reported last week that home loan rates remain just above all-time lows. I am recommending carefully floating. If anything changes, I will get back to you. Have a great week!”

Mortgage Update September 22 2017

“Home loan rates edged higher this week after the Fed statement was released, though they still remain just above all-time lows. There were no economic reports due for release today.
Increasing tensions between North Korea and the U.S. are pushing Stock prices lower this morning, while giving Mortgage Bonds a boost. I am recommending carefully floating. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update September 21 2017

“Freddie Mac reported on Thursday that mortgage rates edged higher this week but still remain just above all-time lows. Yesterday, the Federal Reserve left the benchmark Fed Funds Rate unchanged and announced that it will begin to unwind its balance sheet that consists of Treasury and Mortgage Backed Securities beginning in October. I am recommending carefully floating. If anything changes, I will get back to you.”

Mortgage Update September 21 2017

“Freddie Mac reported on Thursday that mortgage rates edged higher this week but still remain just above all-time lows. Yesterday, the Federal Reserve left the benchmark Fed Funds Rate unchanged and announced that it will begin to unwind its balance sheet that consists of Treasury and Mortgage Backed Securities beginning in October. I am recommending carefully floating. If anything changes, I will get back to you.”

Mortgage Update September 20 2017

“The Mortgage Bankers Association reports that home loan rates were unchanged in the latest and remain near year-to-date lows. In housing news, Existing Home Sales in August fell modestly from July due in part to high prices and low inventories. Ahead of today’s release of the Fed statement at 2:00 p.m. ET, I am recommending carefully floating. If anything changes later today, I will quickly alert you.”

Mortgage Update September 19 2017

“Stock and Bond prices are near unchanged ahead of tomorrow’s big event in the Fed’s monetary policy statement that is due to be released at 2:00 p.m. ET. In economic news, August Housing Starts declined, while Building Permits surged. Home loan rates remain just above all-time lows. Ahead of tomorrow’s Fed statement, I am recommending carefully floating. If anything changes. I will get back to you.”