Mortgage Update April 11 2018

“Heightened tensions over Syria between Russia and the U.S. are boosting Bond prices this morning and pushing Stocks lower. The Mortgage Bankers Association reports that home loan rates edged lower in the latest week and remain historically attractive. The closely watched inflation reading Consumer Price Index for March declined for the first time in 10 months. I am recommending floating but sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update April 10 2018

“Mortgage Bonds are near unchanged and seemingly show no emotion to Stocks, which are up big to start the day. Inflation data from the wholesale level, the Producer Price Index, was a bit hotter than expected but investors are looking ahead to the more closely watched inflation reading Consumer Price Index due out tomorrow. I am recommending floating but be aware that rising Stock prices could push Bond prices lower at any point during the day. If anything changes, I will get back to you.”

Mortgage Update April 9 2018

“Mortgage Bonds begin the week modestly lower as Stocks rebound from Friday’s decline. There are no economic reports due for release today. Home loan rates edged lower last week and remain historically attractive. I am recommending floating but be aware that volatility continues. If anything changes, I will get back to you. Have a great week!”

Mortgage Update April 6 2018

“The March Jobs Report showed fewer workers were hired than what was expected but within the report there were several positive numbers. Stock prices are lower as the trade wars were refueled on headlines out of Washington D.C. showing the administration is imposing additional tariffs on China. After the jobs data, 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 April 5 2018

“Mortgage Bond prices are near unchanged while Stocks rise ahead of tomorrow’s closely watched Jobs Report for March. Freddie Mac reports that home loan rates declined this week and remain historically attractive. Ahead of tomorrow’s Jobs Report, I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update April 4 2018

“Mortgage Bonds are near unchanged despite the big losses in the Stock markets. ADP reports that private job growth was solid in March and comes ahead of the more closely watched Non-Farm Payrolls due to be released on Friday morning. I am recommending floating but be prepared for a locking stance tomorrow ahead of Friday’s Jobs Report. If anything changes, I will get back to you.”

Mortgage Update April 3 2018

“Mortgage Bonds are lower as Stocks try to rebound after yesterday’s plunge. There were no economic reports scheduled for release today. In housing news, CoreLogic reports that home prices produced some frothy gains from February 2017 to February 2018 due in part to limited homes for sale on the market. I am recommending floating, but be on guard for a reversal lower in Bond prices. If anything changes, I will get back to you.”

Mortgage Update April 2 2018

“Mortgage Bonds begin the second quarter modestly lower while Stocks are also lower. Traders are gearing up for the closely watched Jobs Report for March, which will be released Friday morning.
I am recommending floating but be aware that sentiment can quickly reverse course. If anything changes, I will get back to you. Have a great week!”