Mortgage Update March 29 2018

“Tame inflation data is giving both Stocks and Bonds a boost this morning as the month and quarter comes to an end. Freddie Mac reports that home loan rates were unchanged this week and remain historically attractive. I am recommending floating as we head into the long holiday weekend. The markets are closed tomorrow in observance of Good Friday. Have a great weekend!”

Mortgage Update March 28 2018

“With U.S. Stock markets under some pressure, Mortgage Bonds have been able to produce some gains. The Mortgage Bankers Association reports that home loan rates were essentially unchanged in the latest week and remain historically attractive. Pending Homes Sales in February were higher than expected while fourth quarter 2017 Gross Domestic Product showed a solid reading. I am recommending floating but be aware that volatility continues. If anything changes, I will get back to you.”

Mortgage Update March 27 2018

“Mixed Stock prices are boosting Mortgage Bonds this morning, despite some positive economic news. Home prices continued to rise in January due in part to the ongoing theme of a limited amount of homes for sale on the market. In addition, Consumer Confidence continued to run at frothy levels in March. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back you.”

Mortgage Update March 26 2018

“Rebounding Stock prices and heavy debt supply this week are weighing on Bond prices as the holiday-shortened week begins. There were no economic reports due for release today. Home loan rates were unchanged last week and remain historically attractive. I am recommending carefully floating but be aware that higher Stock prices could weigh on Bonds. If anything changes, I will get back to you. Have a great week!”

Mortgage Update March 23 2018

“Mortgage Bonds are lower as the choppy sideways pattern, which started back on February 12, continues. February New Home Sales will be released later this morning. The Mortgage Bankers Association and Freddie Mac both reported that home loan rates were unchanged this week and remain historically low. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update March 22 2018

“Mortgage Bonds are higher, being boosted by lower Stock prices. As expected, the Federal Reserve raised its short-term Fed Funds Rate yesterday, which usually doesn’t have much of an impact on mortgage rates. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update March 21 2018

“The Fed meeting will end today with the monetary policy statement being released at 2:00 P.M. ET. Ahead of the big risk headlines, Mortgage Bond and Stock prices are near unchanged as traders sit on their hands. In economic news, February Existing Home Sales came in higher than expected. The MBA reports that mortgage rates remained steady in the latest week just above historic lows.
I am recommending floating and I will see what the Fed says and how the markets react. If anything changes, I will get back to you.”

Mortgage Update March 20 2018

“Bond prices are being pressured lower by the rebound in Stocks this morning as the markets gear up for the Fed’s monetary policy statement being released Wednesday afternoon. There were no economic reports released today. I am recommending floating new files ahead of the big headline risk in tomorrow’s Fed release. If anything changes, I will get back to you.”

Mortgage Update March 19 2018

“Stocks and Bond prices are lower ahead of the two-day Fed meeting that kicks off tomorrow and ends Wednesday with the 2:00 p.m. ET release of the monetary policy statement. There were no economic reports scheduled for release today. Mortgage rates edged lower last week after rising every week since the beginning of the year. Ahead of the Fed, I am recommending floating brand new files. If anything changes, I will get back to you.”

Mortgage Update March 16 2018

“Mortgage Bond prices are edging lower despite weak housing data reported for February. Housing Starts fell in February from January due in a big way from a plunge in multi-family dwellings.
With Mortgage Bond prices under pressure, I am recommending a locking bias. If anything changes, I will get right back to you. Have a great weekend!”