Mortgage Update May 18 2018

“Mortgage Bonds are rebounding from their midweek decline as lower prices may be luring in buyers. There were no economic reports scheduled for release today. As the week comes to an end, I am recommending floating. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update May 17 2018

“Mortgage Bonds are near unchanged as strong manufacturing data is putting pressure on prices. Strong manufacturing data is weighing on Bond prices, despite Stocks hovering near unchanged. Freddie Mac reports that home loan rates hit their highest levels in seven years, though they remain historically low. I am recommending locking, if anything changes, I will get back to you.”

Mortgage Update May 16 2018

“After the steep two-day decline, Mortgage Bonds are near unchanged, trying to stabilize. April Housing Starts fell from March, but rose year-over-year. The Mortgage Bankers Association reports that home loan rates were unchanged in the latest, and despite them being at highs seen in September 2013, rates remain historically low. I am recommending floating, but be on guard for any sudden movement lower. If anything changes, I will get back to you.”

Mortgage Update May 15 2018

“Solid economic data coupled with rising Bond yields are pushing Mortgage Bond prices lower this morning, despite a decline in the Stock markets. The NAHB Housing Market Index, Empire Manufacturing and Retail Sales all came in with solid numbers. I am recommending locking here at current levels. If anything changes, I will get back to you.”

Mortgage Update May 14 2018

“Mortgage Bonds begin the week near unchanged, weighed down by the continued rally in the Stocks. There were no economic reports due for release today but later in the week data will come from housing, manufacturing and consumer spending.
I am recommending floating. If anything changes, I will get back to you. Have a great week!”

Mortgage Update May 11 2018

“Mortgage Bonds are ending the week near unchanged in the absence of any major economic reports or glaring geopolitical headlines. Both the Mortgage Bankers Association and Freddie Mac reported that home loan rates were unchanged in the latest week and remain historically low. I am recommending floating heading into the weekend. If anything changes, I will quickly alert you. Have a great weekend!”

Mortgage Update May 10 2018

“Tame consumer prices are easing fears of rising inflation and boosting both Mortgage Bond and Treasury prices this morning. Freddie Mac reports that home loan rates were unchanged this week and while they have risen in 2018, rates remain historically attractive. I am recommending floating, but be mindful that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update May 8 2018

“Mortgage Bonds are off the best levels and fading lower as the Bond market gets ready for added supply of Treasury securities and ahead of Trump’s Iran decision this afternoon. There were no economic reports due for release today. The NFIB reports that small business optimism sustained record high levels in April. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update May 7 2018

“Mortgage Bonds begin the week near unchanged with prices being capped by rising Stocks. There were no economic reports released today and the rest of the week’s calendar is on the light side. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will quickly alert you. Have a great week!”

Mortgage Update May 4 2018

“The April Jobs Report came in weaker than expected but there were also positive numbers within the report. After the data was released, Mortgage Bonds are near unchanged while Stocks are rallying. With the Jobs Report behind us, floating is recommended. If anything changes, I will get back to you. Have a great weekend!”