Mortgage Update December 4 2017

“Stocks are surging after the Senate passed its version of the tax bill, which is pushing Bond prices lower to begin the week. There are no economic reports due for release today but the markets are looking ahead to Friday’s Jobs Report for November. With the rally in Stocks and subsequent lower Bond prices, I am recommending locking those files that are least 30 days to closing. If anything changes, I will get back to you. Have a great week!”

Mortgage Update December 1 2017

“Mortgage Bonds are near unchanged and off their best levels as they continue to search for a bottom after their recent slide. Home loan rates continue to hover just above all-time lows as reported by Freddie Mac this week.
I will continue to recommend locking as the week comes to a close. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update November 30 2017

“Mortgage Bond prices are flat to slightly lower as Stocks rally on at the expense of Bonds. Inflation remained tame in October as evidenced by the Core Personal Consumption Expenditure (PCE). Mortgage rates continue to hover just above all-time lows. I am recommending locking as Mortgage Bond prices are still on shaky ground. If anything changes, I will get back to you.”

Mortgage Update November 29 2017

“Strong economic growth coupled with unfriendly Bond words from Fed Chair Yellen are pushing Bond prices lower this morning. In housing news, Pending Home Sales surged in October, concentrated in the South, after the hurricanes limited activity in September. The Mortgage Bankers Association reports that mortgage rates were unchanged in the latest week and remain historically low. I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update November 28 2017

“Despite higher Stock prices, Mortgage Bonds are slightly higher and are also showing resilience in the face of a strong housing report. The Case-Shiller 20-City Home Price Index rose 6.2% year-over-year in September, above the previous reading in August. Low mortgage rates continue to buoy the housing market. I am recommending carefully floating as I closely watch the action unfold during the day. If anything changes, I will get back to you.”

Mortgage Update November 15 2017

“Lower Stock prices continue to buoy the Bond markets while yields push lower. Tame inflation data from the Consumer Price Index is also helping to support Bond prices. Retail Sales were modestly positive in October, while manufacturing activity in early November in the New York region declined a bit from October. Mortgage rates were unchanged in the latest week, reports the Mortgage Bankers Association. I am recommending carefully floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update November 14 2017

“Lower Stock prices are boosting Treasury and Mortgage Backed Securities today, pushing yields lower. In economic news, wholesale inflation in October came in hotter than expected ahead of tomorrow’s more closely watched consumer inflation data. Home loan rates continue to hover just above all-time lows. I am recommending carefully floating but sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update November 13 2017

“After last week’s steep decline, Mortgage Bonds are modestly higher in a bid to resist the recent selloff. There were no economic reports due for release today. Home loan rates begin the week just above all-time lows.
I am recommending carefully floating as the week unfolds. If anything changes, I will get back to you. Have a great week!”

Mortgage Update November 10 2017

“Investors are throwing in the towel today as Stock, Bond and oil prices are lower after their recent gains with the week drawing to a close. Home loan rates hover just above all-time lows, which continue to support the housing market. I am recommending locking heading into the weekend. If anything changes, I will quickly alert you. Have a great weekend!”

Mortgage Update November 9 2017

“Despite falling Stock prices, Mortgage Bonds are lower this morning after failing to trade above key technical levels this week. Freddie Mac reports that home loan rates declined this week and remain just above all-time lows. With Bond prices declining, I am recommending locking. If anything changes, I will get back to you.”