Mortgage Update January 31 2018

“Mortgage Bond prices are modestly higher this morning ahead of the 2:00 p.m. ET release of the Fed’s monetary policy statement. In economic news, ADP Private Payrolls in January came in higher than expected and comes ahead of Friday’s government Jobs Report. Heading into the Fed statement, I am recommending floating. If anything changes, I will get back to you.”

Mortgage Update January 30 2018

“Mortgage Bond prices are slightly lower despite a big decline in the major Stock indexes. In housing news, low inventories continue to fuel higher home prices across the nation. Heading into tomorrow’s Fed statement, floating is recommended for new clients. If anything changes, I will get back to you.”

Mortgage Update January 29 2018

“Chatter of less Quantitative Easing from central banks around the globe pushes Bond prices lower to begin the week, while yields rise. In economic news, inflation remained somewhat tame in December, while Personal Income and Spending matched expectations. With seemingly no floor of support below for Mortgage Bond prices, I am recommending locking. If anything changes, I will get back to you. Have a great week!”

Mortgage Update January 26 2018

“Mortgage Bond prices continue to hover near the lows seen in March of 2017 unable to break out of its current sideways pattern. In economic news, Gross Domestic Product or economic growth, slipped a bit in the fourth quarter of 2017 though within the report it revealed that consumer spending surged. This week, both the Mortgage Bankers Association and Freddie Mac reported that home loan rates edged higher but remain historically attractive. I am recommending floating only those files that are at least 30+ days to closing. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update January 25 2018

“Mortgage Bond prices are lower and are off their best and worst levels of the morning. Higher Stock prices are weighing on Bonds as the rally in the equity markets marches on. I am recommending floating those files that are 30+ days to close. If anything changes, I will get back to you.”

Mortgage Update January 24 2018

“Mortgage Bond prices are lower this morning being pressured by the rebound in the major Stock indexes. The Mortgage Bankers Association reports that home loan rates crept higher in the latest week though they still remain historically attractive. I am recommending floating for those files that are 30+ plus days out. If anything changes, I will bet back to you.”

Mortgage Update January 23 2018

“After pushing lower since the beginning of the month, Mortgage Bond prices jumped at the open as global yields decline. There were no economic reports released today. The Treasury will sell a boatload of 2-year T Notes this afternoon and the results could impact the Bond markets. On the mortgage front, home loan rates continue to hover just above all-time lows. I am recommending floating. If anything changes, I will get back to you.”

Mortgage Update January 22 2018

“Mortgage Bonds begin the week near unchanged as the government shutdown enters its third day. There are no economic reports due for release today and the rest of the week’s calendar is light with housing and GDP in the spotlight.
I am recommending locking except for the those files that are new today with 45+ days to close. Have a great week!”

Mortgage Update January 19 2018

“Mortgage Bond prices are slightly lower and Stocks are mixed in the face of a possible government shutdown at midnight tonight. In economic news, Consumer Sentiment edged lower in early January though consumers reported persistent strength in personal finances and buying plans. I am recommending locking at current levels. If anything changes I will get back to you. Have a great weekend!”

Mortgage Update January 18 2018

“Mortgage Bond prices are being driven lower by improving economic conditions, higher inflation numbers and additional global Bond supply. Mortgage rates were reported the highest since last March though they remain at historically attractive levels. In housing news, December Housing Starts declined from November, while Weekly Initial Jobless Claims are at the lows seen in the early 1970s. The good news? Buying a home is not driven by rate, but by economic prospects and confidence in employment … and right now those metrics are the highest in years which should be a great tailwind for the home purchase market. I am recommending locking at current levels. If anything changes, I will get back to you.”