Mortgage Update September 13 2017

“The Mortgage Bankers Association reports that mortgage rates continued to decline in the latest week hitting the lowest levels not seen since mid-November. In economic news, inflation here and in Europe ticked up a bit, but it continues to run at the lower end of the spectrum. I am recommending locking for those clients with files 30-days out. If anything changes, I will get back to you.”

Mortgage Update September 12 2017

“Mortgage Bond prices continue to edge lower as they retreat from their recent highs as Stocks continue to push higher. There are no economic reports due for release today. The Treasury will sell a boatload of 10-year Notes, which could add additional downward pressure on Bond prices. With home loan rates at very attractive levels, I will continue to recommend locking. If anything changes, I will get back to you.”

Mortgage Update September 11 2017

“Bond prices are lower this morning as Hurricane Irma turned out to be less catastrophic than anticipated and North Korea held off further rocket testing over the weekend. There are no economic reports set for release today. With Mortgage Bond prices retreating from their recent highs and home loan rates at extremely attractive levels, I am recommending locking. If anything changes, I will get back to you. Have a great week!”

Mortgage Update September 8 2017

“Mortgage Bonds are slightly lower despite Stocks trading in negative territory and a ton of uncertainty regarding Hurricane Irma, North Korea and the 9/11 anniversary heading into the weekend.
However, home loan rates are at extremely attractive levels having moved lower for five straight weeks. With home loan rates just above historic lows and mortgage bond prices at the highs seen in November, I am recommending locking files at least three weeks until closing. If anything changes I will get back to you. Have a great weekend!”

Mortgage Update September 7 2017

“Mortgage Bond prices seem to be stalling at the highs seen in November while mortgage rates are at the lows seen in the same time. In economic news, Weekly Initial Jobless Claims rose to more than a two year high, due in a big way from the fallout of Hurricane Harvey. With mortgage rates at extremely attractive levels, I am recommending locking in the short term, at least three weeks out. If anything changes, I will get back to you.”

Mortgage Update September 6 2017

“The Mortgage Bankers Association reported this morning that mortgage rates fell to their lowest levels since mid-November. Low inflation levels continue to have a hand in keeping interest rates low in the U.S. I am recommending carefully floating. However, with Mortgage Bond prices at frothy levels and rates at extremely attractive levels, sentiment can quickly reverse.
If anything changes, I will get back to you.”

Mortgage Update September 5 2017

“Ongoing tensions in North Korea is sending Stock prices lower this morning while boosting Mortgage Bond prices, and in turn, sending yields lower. In housing news, CoreLogic reports that home prices, including distressed sales, surged year over year in July 2017 from July 2016 and increased month over month in July from June. CoreLogic says the “combination of steadily rising prices along with very tight inventory of unsold homes should keep upward pressure on home prices for the remainder of the year.” I am recommending floating to begin the week. If anything changes, I will get back to you. Have a great week!”

Mortgage Update September 1 2017

“The Jobs Report for August was a bit of a disappointment though the labor market remains on solid ground. Both Freddie Mac and the Mortgage Bankers Association reported this week that home loan rates remain historically low in this subdued inflation environment. With the Jobs Report behind us, I am recommending carefully floating headed into the Labor Day holiday. Have a great long weekend!”

Mortgage Update August 31 2017

“Freddie Mac reported that home loan rates edged lower this week, declining four weeks in a row and remain just above all-time lows. The low inflation environment continues to be catalyst for lower home rates. Mortgage rates are at extremely attractive levels, while Mortgage Bond prices hover near the highs seen in November. Given those factors and with tomorrow’s big headline risk in the August Jobs Report, I am recommending locking in the short term, at least two to three weeks out.”

Mortgage Update August 30 2017

“The Mortgage Bankers Association reports that home loan rates were essentially unchanged in the latest week and remain near the lows seen in November. In economic news, Gross Domestic Product in the second quarter was revised higher, while ADP Private Payrolls were better than expected. With Mortgage Bond prices stalling near the 2017 and with the big headline risk in Friday’s release of the August Jobs Report, I am recommending locking in the short term, at least two to three weeks out. Longer term floating is prudent.”