Mortgage Update June 4 2018

“Mortgage Bonds are starting the week a bit lower weighed down by rising Stock prices. There were no economic reports scheduled for release today and the week’s calendar is on the light side. I am recommending floating brand-new files at least 45+ days until closing. Otherwise locking is prudent. If anything changes, I will get back to you. Have a great week!”

Mortgage Update June 1 2018

“Easing political tensions in Europe coupled with a solid Jobs Report for May are weighing on Bond prices this morning. Both Freddie Mac and the Mortgage Bankers Association reported this week that home loan rates edged lower in their latest surveys. Heading into the weekend, I am recommending locking. If anything changes, I will get back to you. Have a great weekend.”

Mortgage Update May 31 2018

“Mortgage Bonds are near unchanged despite tame consumer inflation data hitting the wires. In housing news, April Pending Homes Sales declined from March due in part to low inventories of homes for sale on the market.
Freddie Mac reports that mortgage rates declined in the latest week after rising for most of 2018. Ahead of the big headline risk in the May Jobs Report which is scheduled for release tomorrow, I am recommending locking. For brand new files that are at least a month away, we can try and float, but I will be on guard.”

Mortgage Update May 30 2018

“Mortgage Bonds are giving back some of yesterday’s gains as the Italian turmoil eases a bit along with the safe-haven trade in U.S. Bonds and dollars. In economic news, ADP Private Payrolls for May came in just below expectations while the second reading on Gross Domestic Product remained steady. I am recommending floating today, but my position could switch to locking Thursday afternoon ahead of the May Jobs Report on Friday. If anything changes, I will get back to you.”

Mortgage Update May 29 2018

“Political turmoil in in the Eurozone is pushing investors to the safe haven of the U.S. Bond markets. In economic news, home prices continue to rise due in part to the lack of housing inventory on the markets. I am recommending floating. If anything changes, I will get back to you. Have a great week!”

Mortgage Update May 25 2018

“Bond prices continue to push higher boosted by declining Stocks in the current negative geopolitical environment. Home loan rates have pushed higher throughout the first half of 2018, but have edged lower this week. Heading into the three-day weekend, I am recommending floating. If anything changes, I will get back to you. Have a great long and safe Memorial Day weekend!”

Mortgage Update May 24 2018

“Mortgage Bonds are modestly higher as they add to yesterday’s gains, which were touched off by the rather dovish Fed minutes. Stocks look to open lower on lingering trade issues. Later this morning, April Existing Home Sales will be released. Home loan rates have edged higher though they remain historically low. I am recommending floating, but be on guard during the day. If anything changes, I will get back to you.”

Mortgage Update May 23 2018

“Risk off is the trade of the day as Bond yields and Stocks move lower. New Home Sales for April will be released today while the minutes from the May Fed meeting will be delivered at 2:00 p.m. ET. I am recommending floating but be on guard for any sudden movement lower in Mortgage Bond prices. If anything changes, I will get back to you.”

Mortgage Update May 22 2018

“Mortgage Bond prices continue to trade just above seven-year lows weighed down today rising Stocks and added supply. There were no economic reports due for release today. With Mortgage Bond prices at bargain basement levels and home loan rates trying to stabilize, floating is recommended.”

Mortgage Update May 9 2018

“Mortgage Bonds are modestly lower being weighed down by added supply from the Treasury. The Mortgage Bankers Association reported that home loan rates were essentially unchanged this week and though they have moved higher this year, rates remain historically attractive. I am recommending floating but be aware that Mortgage bond prices are on shaky ground and could push lower. If anything changes, I will get back to you.”