“Mortgage Bonds begin the week near unchanged as they continue in their sideways pattern unable to produce any gains. Stocks are higher as they build on Friday’s rally after the strong Jobs Report for February. I am recommending floating to begin the week. If anything changes, I will get back to you. Have a great week!”
U.S. job growth surged in February as the labor market continues to tighten, though wage growth cooled. The Unemployment Rate remained near a 17-year low while more able bodied workers entered the workforce. I am recommending floating new files today but be mindful that the good economic news that continues to roll in, which limits any big improvements in home loan rates.
Have a great weekend!
“Mortgage Bond prices are near unchanged trapped in a sideways pattern as traders and investors gear up for tomorrow’s important Jobs Report. Freddie Mac reports that home loan rates edged higher this week but still remain historically attractive. Heading into tomorrow’s big headline risk in the Jobs Report, I am recommending locking. If anything changes, I will get back to you.”
“Despite the losses in the Stock markets this morning, Mortgage Bonds are near unchanged and lacking the energy to push meaningfully higher. ADP reports that private employers added more workers than expected in February and comes ahead of the more closely watched Non-Farm Payrolls report on Friday. Home loan rates continue to hover near four-year highs but remain historically attractive. I am recommending locking ahead of Friday’s big report. If anything changes, I will get back to you.”
“After yesterday’s decline, Mortgage Bond prices are near unchanged as the volatility continues. In housing news, home price gains continued their winning ways in January though many top markets are overvalued. Home loan rates are higher since the beginning of the year but they still remain historically attractive. Ahead of two key labor market reports this week, I am recommending locking. If anything changes, I will get back to you.”
“Mortgage Bonds are starting the week a bit higher as the back-and-forth seesaw trading pattern continues. Black Knight Financials Services released its latest Mortgage Monitor which revealed rising mortgage rates and home prices pushed affordability to its lowest point since 2009. However, home loan rates are still at historically attractive levels. With Stocks under pressure, I am recommending floating to begin the week. If anything changes I will get back to you. Have a great week!”
“Mortgage Bonds are ending the week lower after volatility continued to hover over the U.S. markets this week. In economic news, Consumer Sentiment in February hit its second highest level since 2004 and comes after the strong Consumer Confidence data earlier in the week. 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!”
“Fears of higher inflation were laid to rest this morning when a key inflation gauge was unchanged in January. Mortgage Bonds are slightly higher while Stocks hover near flat levels.
The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose in the latest week but still remains historically attractive. I am recommending floating but be aware that the rollercoaster pattern for Mortgage Bonds persists. If anything changes, I will get back to you.”
“Newly appointed Fed Chairman Powell sent a chill throughout the U.S. markets yesterday signaling there could be a faster pace of interest rate hikes this year. In economic news, the second reading on fourth quarter 2017 Gross Domestic Product was in line with estimates while manufacturing activity in the Chicago region was lower than expectations. Mortgage rates remained unchanged in the latest week, reports the Mortgage Bankers Association. I am recommending floating but Mortgage Bond prices remain on shaky ground. If anything changes, I will get back to you.”
“Mortgage Bond prices are near unchanged as Fed Chairman Jerome Powell testifies in front of the House Financial Services Committee on the state of the U.S. economy. In economic news, home prices continued to rise in December, reports S&P Case-Shiller. In addition, February Consumer Confidence hit its highest level since November 2000. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”