Mortgage Update October 31 2017

“Despite some strong economic data this morning, Mortgage Bond prices are showing resilience as they trade near unchanged levels. Home price gains remained solid in August fueled by low mortgage rates and an improving economy. In addition, Consumer Confidence and the Chicago PMI surged in October. I am recommending carefully floating but be aware that the Fed’s monetary policy statement is being released tomorrow with two key labor market reports still to come this week. If anything changes, I will get back to you.”

Mortgage Update October 30 2017

“After the recent steep decline, Mortgage Bond prices are modestly higher this morning, due to some weakness in the Stock markets along with tame inflation data. Despite the recent rise in Mortgage Bond prices, home loan rates continue to hover just above all-time lows. I am recommending carefully floating, but be aware that this week the Fed meeting takes place and the Jobs Report for October will be released. The two events could impact the markets in a big way. If anything changes, I will get back to you. Have a great week!”

Mortgage Update October 27 2017

“Economic growth remained strong in the third quarter of 2017 fueled by private inventory investments, exports and federal government spending. Home loan rates have edged higher in the past week but they remain historically attractive. I am recommending locking as Mortgage Bond prices still seem to be on shaky ground. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update October 26 2017

“Freddie Mac reports that home loan rates pushed higher this week though they still remain just above all-time lows. In housing news, Pending Home Sales were flat in September from August due in part to low inventories of homes for sale on the market and higher prices. I am recommending carefully floating as Mortgage Bond prices are still on shaky ground. If anything changes, I will get back to you.”

Mortgage Update October 25 2017

“Mortgage Bond prices are edging lower today as positive economic data out of Europe and the U.S. has global Bond yields on the rise. The Mortgage Bankers Association reports that home loan rates edged higher in the latest week though they still remain historically attractive. I am recommending locking until such time I can see some stabilization in Mortgage Bond prices. If anything changes, I will get back to you.”

Mortgage Update October 24 2017

“Home loan rates continue to hover just above all-time lows, though they have edged higher since early September. There were no scheduled economic reports due for release today. I am recommending carefully floating, but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update October 23 2017

“The new week begins with Mortgage Bond prices modestly higher in the absence of any economic reports. Home loan rates continue to hover just above all-time lows while the housing sector sees higher home prices due in part to limited inventories. I will begin the week with a carefully floating recommendation. If anything changes, I will get back to you. Have a great week!”

Mortgage Update October 20 2017

“Mortgage Bond prices are pushing lower as Stocks rally on news that tax cuts may be taking place in the near future. In housing news, Existing Home Sales rose modestly in September from October though sales were capped by rising prices and low inventories. I am recommending locking. If anything changes I will quickly alert you. Have a great weekend!”

Mortgage Update October 20 2017

“Mortgage Bond prices are pushing lower as Stocks rally on news that tax cuts may be taking place in the near future. In housing news, Existing Home Sales rose modestly in September from August though sales were capped by rising prices and low inventories. I am recommending locking. If anything changes I will quickly alert you. Have a great weekend!”

Mortgage Update October 19 2017

“Freddie Mac reports that home loan rates edged lower this week as they remain historically attractive. In economic news, Weekly Initial Jobless Claims fell to the lows not seen since March 1973 while the Philadelphia Fed Manufacturing Index came in stronger than expected for October. With Mortgage Bond prices on the rise today, I am recommending carefully floating. If anything changes, I will get back to you.”