Mortgage Update April 19 2018

“After failing to break above key technical levels and yesterday’s subsequent decline, Mortgage Bond prices are lower this morning. In economic news, Weekly Initial Jobless Claims continue to hover near lows seen the early 1970s while the Philadelphia Fed Index came in better than expected, which is weighing on Bond prices. Freddie Mac reports that home loan rates edged higher this week though they still remain historically attractive. With the weakness seen in Mortgage Bond prices, I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update April 18 2018

“Mortgage Bond prices are slightly lower as they continue to trade in a sideways pattern. There are no economic reports due for release today. The Mortgage Bankers Association reports that home loan rates were unchanged in the latest week and remain historically attractive. I am recommending floating but given the strong economic backdrop, easing global tensions and potential for super-positive news out of North and South Korea, it is very tough to see the catalyst for lower home loan rates.”

Mortgage Update April 17 2018

“Strong earnings coupled with easing Syrian tensions are fueling a rally in the Stock markets this morning at the expense of Bonds. In housing news, March Housing Starts rose more than expected while Building Permits also beat estimates. Historically low home loan rates continue to fuel the sector. I am recommending floating but be on guard for any reversal in sentiment. If anything changes, I will get back to you.”

Mortgage Update April 13 2018

“Mortgage Bonds are modestly higher as Stocks shed their opening gains. In economic news, Consumer Sentiment fell in April from March but remains at elevated levels. I am recommending floating, but as always, be on guard for a reversal in sentiment. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update April 12 2018

“Mortgage Bonds are near unchanged as they continue to be trapped in a sideways pattern dating back to mid-February. Freddie Mac reports that home loan rates were near unchanged this week and remain just north of all-time lows.
I will continue to recommend floating but be aware that today?s surging Stock prices could push Mortgage Bonds lower. If anything changes, I will get back to you.”

Mortgage Update April 11 2018

“Heightened tensions over Syria between Russia and the U.S. are boosting Bond prices this morning and pushing Stocks lower. The Mortgage Bankers Association reports that home loan rates edged lower in the latest week and remain historically attractive. The closely watched inflation reading Consumer Price Index for March declined for the first time in 10 months. I am recommending floating but sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update April 10 2018

“Mortgage Bonds are near unchanged and seemingly show no emotion to Stocks, which are up big to start the day. Inflation data from the wholesale level, the Producer Price Index, was a bit hotter than expected but investors are looking ahead to the more closely watched inflation reading Consumer Price Index due out tomorrow. I am recommending floating but be aware that rising Stock prices could push Bond prices lower at any point during the day. If anything changes, I will get back to you.”

Mortgage Update April 9 2018

“Mortgage Bonds begin the week modestly lower as Stocks rebound from Friday’s decline. There are no economic reports due for release today. Home loan rates edged lower last week and remain historically attractive. I am recommending floating but be aware that volatility continues. If anything changes, I will get back to you. Have a great week!”

Mortgage Update April 6 2018

“The March Jobs Report showed fewer workers were hired than what was expected but within the report there were several positive numbers. Stock prices are lower as the trade wars were refueled on headlines out of Washington D.C. showing the administration is imposing additional tariffs on China. After the jobs data, 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!”

Mortgage Update April 5 2018

“Mortgage Bond prices are near unchanged while Stocks rise ahead of tomorrow’s closely watched Jobs Report for March. Freddie Mac reports that home loan rates declined this week and remain historically attractive. Ahead of tomorrow’s Jobs Report, I am recommending locking. If anything changes, I will get back to you.”