Mortgage Update March 20 2018

“Bond prices are being pressured lower by the rebound in Stocks this morning as the markets gear up for the Fed’s monetary policy statement being released Wednesday afternoon. There were no economic reports released today. I am recommending floating new files ahead of the big headline risk in tomorrow’s Fed release. If anything changes, I will get back to you.”

Mortgage Update March 19 2018

“Stocks and Bond prices are lower ahead of the two-day Fed meeting that kicks off tomorrow and ends Wednesday with the 2:00 p.m. ET release of the monetary policy statement. There were no economic reports scheduled for release today. Mortgage rates edged lower last week after rising every week since the beginning of the year. Ahead of the Fed, I am recommending floating brand new files. If anything changes, I will get back to you.”

Mortgage Update March 16 2018

“Mortgage Bond prices are edging lower despite weak housing data reported for February. Housing Starts fell in February from January due in a big way from a plunge in multi-family dwellings.
With Mortgage Bond prices under pressure, I am recommending a locking bias. If anything changes, I will get right back to you. Have a great weekend!”

Mortgage Update March 15 2018

“The ongoing sideways pattern for Mortgage Bonds, which began back on February 12, continues. Today’s economic data had little impact on the markets. Freddie Mac reports that mortgage rates were essentially unchanged this week and are still historically low. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update March 13 2018

“Mortgage Bonds are near unchanged being supported by low inflation data this morning. The inflation reading Consumer Price Index was somewhat tame in February as fears of an overheated economy eased, for now. I am recommending floating but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.”

Mortgage Update March 12 2018

“Mortgage Bonds begin the week near unchanged as they continue in their sideways pattern unable to produce any gains. Stocks are higher as they build on Friday’s rally after the strong Jobs Report for February. I am recommending floating to begin the week. If anything changes, I will get back to you. Have a great week!”

Mortgage Update March 9 2018

U.S. job growth surged in February as the labor market continues to tighten, though wage growth cooled. The Unemployment Rate remained near a 17-year low while more able bodied workers entered the workforce. I am recommending floating new files today but be mindful that the good economic news that continues to roll in, which limits any big improvements in home loan rates.
Have a great weekend!

Mortgage Update March 8 2018

“Mortgage Bond prices are near unchanged trapped in a sideways pattern as traders and investors gear up for tomorrow’s important Jobs Report. Freddie Mac reports that home loan rates edged higher this week but still remain historically attractive. Heading into tomorrow’s big headline risk in the Jobs Report, I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update March 7 2018

“Despite the losses in the Stock markets this morning, Mortgage Bonds are near unchanged and lacking the energy to push meaningfully higher. ADP reports that private employers added more workers than expected in February and comes ahead of the more closely watched Non-Farm Payrolls report on Friday. Home loan rates continue to hover near four-year highs but remain historically attractive. I am recommending locking ahead of Friday’s big report. If anything changes, I will get back to you.”

Mortgage Update March 6 2018

“After yesterday’s decline, Mortgage Bond prices are near unchanged as the volatility continues. In housing news, home price gains continued their winning ways in January though many top markets are overvalued. Home loan rates are higher since the beginning of the year but they still remain historically attractive. Ahead of two key labor market reports this week, I am recommending locking. If anything changes, I will get back to you.”