Mortgage Update October 16 2017

“Home loan rates begin the week modestly higher from the September lows, though they still remain at historically attractive levels. Strong regional manufacturing is capping any gains in Bond prices this morning.
I will continue to recommend carefully floating. If anything changes, I will get back to you. Have a great week!”

Mortgage Update October 13 2017

“This Friday the 13th, Mortgage Bonds are higher after inflation readings came in softer than expected. This low reading could make it more difficult for the Fed to raise rates at its meeting in December. Consumer spending, which makes up two-thirds of the U.S. economy, jumped in September according to the Retail Sales report. In light of the nice technical bounce in Bonds, coupled with the Bond-friendly inflation reading, I recommend floating heading into the weekend. If anything changes, I will quickly alert you. Enjoy the weekend!”

Mortgage Update October 12 2017

“Freddie Mac reports that home loan rates edged higher this week but they still remain at attractively low levels. Wholesale inflation heated up in September as the Producer Price Index on an annual basis hit its highest level since February 2012. Mortgage Bonds are getting a slight boost from lower Stock prices. I am recommending carefully floating. If anything changes, I will get back to you.”

Mortgage Update October 11 2017

“The Mortgage Bankers Association reported this morning that home loan rates continued to edge higher in the latest week, hitting levels seen in late July. However, rates still remain just above all-time lows. There were no economic reports released today. With Stock prices unchanged, Mortgage Bonds are getting a modest boost. Carefully floating is recommended.”

Mortgage Update October 10 2017

“Mortgage Bond prices begin the holiday shortened week higher after Friday’s mixed Jobs report for September. There were no economic reports released today. CoreLogic reports that the July 2017 U.S. foreclosure rate remained at a 10-year low. Despite the recent decline in Mortgage Bond prices, 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 get back to you. Have a great week!”

Mortgage Update October 6 2017

“The September Jobs Report showed a jump in wage growth, which pushed Mortgage Bond prices lower. However, Non-farm Payrolls revealed negative job growth last month mainly due to hurricanes Harvey and Irma. Home loan rates have edged higher though they still remain historically attractive. After the recent decline in Mortgage Bond prices and with the Jobs report behind us, I am recommending carefully floating. If anything changes, I will get right back to you. The Bond markets are closed on Monday in observance of Columbus day. Have a great long weekend!”

Mortgage Update October 5 2017

“Mortgage Bond prices are modestly lower ahead of tomorrow’s release of the September Jobs report. The report usually carries a big headline risk for both Mortgage Bond prices as well as home loan rates. Rates continue to hover just above all-time lows. However, with Mortgage Bond prices off their recent highs, I am recommending floating brand new clients.”

Mortgage Update October 4 2017

“Mortgage Bond prices are near unchanged as Stocks look to take a breather after hitting several record highs in the past five trading days. In economic news, ADP Private Payrolls came in lower than expected in September and comes ahead of the government’s Job Report due out on Friday. The Mortgage Bankers Association reports that home loan rates edged higher in the latest week though they remain at historically attractive levels. I am recommending carefully floating but remember that the government’s Jobs Report for September is due out on Friday morning and the numbers usually carry a big headline risk. If anything changes, I will get back to you.”

Mortgage Update October 3 2017

“Home prices continue to edge higher due to the ongoing theme of a limited amount of homes for sale on the market, as reported by analytics firm CoreLogic. In addition, the current low home loan interest rate environment is also helping to buoy the housing market. I am recommending floating brand new clients with time to close, as Mortgage Bond prices are slightly higher, but seem to be on shaky ground. If anything changes, I will get back to you.”

Mortgage Update October 2 2017

“Home loan rates begin the fourth quarter just above all-time lows while Bond prices are modestly higher. In economic news, the ISM National Manufacturing Index surged in September, while construction spending also grew. I am recommending carefully floating but be aware that the Jobs Report for September will be released on Friday and the numbers usually carry a big headline risk. If anything changes I will get back to you. Have a great week!”