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.”

Mortgage Update November 8 2017

“In the absence of any economic data, Mortgage Bond prices seem to be stalling at current levels near the top of their short-term trading range. The Mortgage Bankers Association reports that home loan rates edged lower in the latest week and remain historically attractive. I am recommending carefully floating, but be aware that sentiment can quickly reverse lower. If anything changes, I will get back to you.”

Mortgage Update November 7 2017

Mortgage Bond prices are near unchanged this morning being capped by the continued rise in U.S. Stocks. The Dow, S&P and NASDAQ all closed at record highs yesterday. In housing news, home prices continued to rise in September, reports CoreLogic. Limited inventories and low home loan rates continue to be the catalysts behind higher home prices. 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 6 2017

“Mortgage Bonds are near unchanged to begin the week which features an extremely light economic calendar. There are no economic reports being released today. The only reports this week are Weekly Initial Jobless Claims on Thursday and Consumer Sentiment on Friday. Home loan rates continue to hover just above all-time lows. I am recommending carefully floating to begin the week. If anything changes, I will quickly alert you.
Have a great week!”

Mortgage Update November 3 2017

“The Labor Department reported that job growth saw a big rebound in October after the weak numbers reported in September due in part to the recent storms. Home loan rates are hovering just above all-time lows giving potential buyers a continued incentive to jump into the market. After the big headline risk associated with the Jobs Report, I am recommending carefully floating. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update November 2 2017

“Mortgage Bond prices are pushing higher due in part to lower Stock prices after the new tax plan details were released. Freddie Mac reports that home loan rates were unchanged in the latest week. Ahead of tomorrow’s closely watched Jobs Report for October, I am recommending locking in the short-term, at least three weeks until closing to avoid any headline risk associated with the numbers. If anything changes, I will get back you.”

Mortgage Update November 1 2017

“The Mortgage Bankers Association reports that home loan rates edged higher in the latest week though they still remain at historically attractive levels. In labor market news, ADP reports that private job growth rebounded in October after hurricanes Harvey and Irma stunted growth in September. Heading into this afternoon’s release of the closely watched Fed statement, I am recommending carefully floating, but be on guard. If anything changes, I will quickly alert you.”

Mortgage Update October 31 2017

“Despite some strong economic data this morning, Mortgage Bond prices are showing resilience as they trade near unchanged levels. Home price gains remained solid in August fueled by low mortgage rates and an improving economy. In addition, Consumer Confidence and the Chicago PMI surged in October. I am recommending carefully floating but be aware that the Fed’s monetary policy statement is being released tomorrow with two key labor market reports still to come this week. If anything changes, I will get back to you.”

Mortgage Update October 30 2017

“After the recent steep decline, Mortgage Bond prices are modestly higher this morning, due to some weakness in the Stock markets along with tame inflation data. Despite the recent rise in Mortgage Bond prices, home loan rates continue to hover just above all-time lows. I am recommending carefully floating, but be aware that this week the Fed meeting takes place and the Jobs Report for October will be released. The two events could impact the markets in a big way. If anything changes, I will get back to you. Have a great week!”