rates: Market Update - Lock or Float (November 8)
- 11/08/07 03:23 AM
Ok, so I am going to be extending my lock recommendation from anything within 60 days to anything with a 90 day period; lock those loans. Here is why: The bond market this morning opened slightly higher at +9/32 while Ben Bernanke didn't help the stock market out with his testimony to Congress' economic committee. The Dow is currently down by 85 points, and the Nasdaq is down by 82 points. That being said, mortgage pricing has slightly improved this morning from yesterday's. Unemployment claims were less than anticipated (325,000 expected, 317,000 filed). Even though this is good news for all of us in the … (5 comments)
rates: Market Update - Lock or Float (November 7)
- 11/07/07 04:27 AM
Well, folks, hopefully you tuned in to my blog on Friday or Monday where I suggested to lock your rates. Here is what is going on in today's market: The bond market opened this morning up 3/32 with the stocks down (Dow by 135 and Nasdaq by 30). Because of this, you are probably seeing mortgage pricing similar to yesterday evening's. The first report of the week was released today by the Labor Department. The publication revealed worker productivity increased to 4.9% during this last quarter. This is excellent news for bonds due to the fact that it is a much higher reading than anticipated. There … (0 comments)
rates: Market Update - Lock or Float (November 6)
- 11/06/07 06:27 AM
Ladies and Gentlefolk, please keep reading as I have a new updated status on whether you should lock or float today! This suggestion might cause some controversy: The bond market were negative this morning (11/32 down) after stocks had an early rise (Dow up 50 points while Nasdaq up 3 points). You are probably seeing higher mortgage prices today by about .25% of a discount point.With that said, I can firmly say that I expect a slight downward motion of the bonds over the next couple of days (especially since there aren't any major earthshattering economic news releases scheduled). So, I am going to suggest … (1 comments)
rates: Market Update - Lock or Float (November 5)
- 11/05/07 03:12 AM
Alright, folks, I hope we are prepared for the slow economic week since it was a lively roller coaster ride last week! If you haven't already looked at my weekly preview, please do that so you aren't missing that information. But, here is what is going on currently: The bond market is a little stagnant due to the fact that there aren't any reports scheduled for release today. The Dow is currently down 60 points and the Nasdaq now down about 12 points. So, we probably aren't seeing all too much difference in pricing from Friday. My suggestion to you, and you can read this … (0 comments)
rates: Market Update - Lock or Float (October 23)
- 10/23/07 04:41 AM
Ok, folks, I would definitely suggest locking all of your loans today if you haven't done so already! Here's the update: Stocks are increasing a little which continues yesterday's recovery with the Dow up about 49 points, and the Nasdaq about 20 points up. Today, the bond market is a little stagnant due to hesitation from investors and growing anticipation of this week's news releases. So, the bond market is currently down by about 2/32. You are probably going to see a similar pricing situation that you saw yesterday since there really hasn't been significant news or changes.As mentioned yesterday, the Existing … (1 comments)
rates: Market Update - Lock or Float (October 19)
- 10/19/07 06:04 AM
Currently, the bond market is 23/32 up while the Dow is down 204 points and the Nasdaq is down 37 points. With this going on, we could definitely see a good amount of improvement in today's rates; most likely about .25 discount points in our favor. No reports are scheduled for release today, as I mentioned earlier this week, but the mortgage rates will be heavily weighed by the stocks. The primary reason for the dip in the stock market is the publication of corporate revenue/earnings, apparent credit fears in investors, and the overwhelming price of oil ($90 per barrel). Quite honestly, … (1 comments)
rates: Market Update - Lock or Float (October 18)
- 10/18/07 04:51 AM
The bond market opened in positive territory this morning which continued yesterday's activity. The Dow is down just over 33 points currently, and the Nasdaq is down approx. 10 points. Mortgage rates should improve today by about .25 discount points to possibly just over that....maybe 3/8's. The Fed Beige Book was released yesterday and showed considerable decrease in economic growth in most regions of the U.S. This data is significant to the Federal Reserve during their FOMC meetings, and is a primary reason why the bond market gained momentum in the late afternoon yesterday; hinting toward yet another rate cut by the Fed … (0 comments)
rates: Market Update - Lock or Float (October 10)
- 10/10/07 04:56 AM
Wednesday's bond market has opened down slightly despite stock weakness. The stock markets are showing sizable losses with the Dow down 82 and the Nasdaq nearly unchanged. The bond market is currently down 2/32, which will likely push this morning's mortgage rates higher by approximately .125 of a discount point.There is no relevant economic data scheduled for release today. The Fed posted the minutes from their last FOMC meeting yesterday afternoon. They gave investors reason to believe that more rate cuts are coming in the near future. This led to a stock market rally late yesterday, but did not affect mortgage … (2 comments)
rates: Market Update - Lock or Float (October 9th)
- 10/09/07 02:05 PM
I apologize for this getting updated so late today! Hopefully you all still get some good information out of it! Tuesday's bond market has opened slightly in positive territory as investors wait for today's Fed minutes. The stock markets are showing gains with the Dow up 32 points and the Nasdaq up 4 points. The bond market is currently up 3/32, which is not enough to improve this morning's mortgage rates.The first report of the week comes this afternoon when the Fed will release the minutes to the last FOMC meeting. These may be a major mover of the markets or could be … (2 comments)
rates: Market Update - Lock or Float (October 4)
- 10/04/07 04:22 AM
Thursday's bond market has opened slightly in positive territory again following the release of weaker than expected manufacturing data. The stock markets are nearly flat with the Dow up 4 points and the Nasdaq up 3 points. The bond market is currently up 5/32, but we will likely still see a slight increase in this morning's mortgage rates due to weakness in bonds late yesterday.The Commerce Department said late this morning that new orders at U.S. factories fell 3.3% last month. This was a larger drop than was expected and indicates that the manufacturing sector is weaker than many had thought. … (0 comments)
rates: Market Update - Lock or Float (October 2)
- 10/03/07 02:47 AM
Wednesday's bond market has opened slightly in positive territory after the stock markets showed early weakness. The stock markets are posting losses with the Dow down 49 points and the Nasdaq down 12 points. The bond market is currently up 4/32, which with strength later yesterday should improve this morning's mortgage rates by approximately .125 - .250 of a discount point over yesterday's morning rates. There was no relevant economic news scheduled for today, so look for the stock markets to be the biggest influence in today's bond trading. If we see further weakness in the major stock indexes, we could … (0 comments)
rates: Market Update - Lock or Float (October 1)
- 10/02/07 03:42 PM
This is a little late for this blog post, but it is a daily thing that I post, so I hope you all enjoy! Tuesday's bond market has opened in positive territory as yesterday's buying seems to be carrying over to today. There was no relevant economic news scheduled for today, but early stock weakness is also contributing to this morning's gains. The stock markets are showing losses with the Dow down 46 points and the Nasdaq down 3 points. The bond market is currently up 8/32, which will likely improve this morning's mortgage rates by approximately .125 of a discount point … (0 comments)
rates: Market Update - Lock or Float (October 1)
- 10/01/07 04:15 AM
....And reporting on time for the first time in a couple of days. Here is the market update for October 1st. The lock advisory hasn't changed - still locking for closings within 20 days. Monday's bond market has opened in positive territory following a weaker than expected manufacturing related report. The stock markets are also showing gains with the Dow up 114 points and the Nasdaq up 22 points. The bond market is currently up 12/32, but we will likely still see an increase in this morning's mortgage rates of approximately .250 of a discount point due to weakness late Friday. Today's … (4 comments)
rates: Market Preview (Week of October 1st)
- 09/30/07 11:57 PM
Good morning everyone. Here is a brief intro to this week. The lock/float advice has changed slightly. I look forawrd to hearing from you all! This week brings us the release of only three monthly economic reports for the bond market to digest. The first report of the week comes late tomorrow morning when the Institute for Supply Management (ISM) will post their manufacturing index for September. This index gives us an indication of manufacturer sentiment. Analysts are expecting a small decline from the 52.9 reading last month to 52.5 this month. The 50.0 benchmark is extremely important because below that level … (3 comments)
rates: Weekend Reading
- 09/29/07 07:32 AM
I found a couple of great articles that were published in Yahoo's finance section. I thought I would share them with you and see if you had any thoughts on them! So, here goes: There are affordable homes in every state; you just have to look in the right areas to live your dream lifestyle!Sellers are now turning a different route to take care of their selling needs; auctioning!With the housing slump in full effect, renters are being affected by this as well!And finally, I know this has been a hot topic, but this last articles discusses the home buying/selling process from … (1 comments)
rates: Market Update - Lock or Float (September 28)
- 09/28/07 03:26 PM
Hey Everyone, I apologize for being so late with this! I was working a Fairground today (and surprisingly picked up a lot of business)! Anyway, here is the usual market update! The lock advisory hasn't really changed all too much from yesterday. Friday's bond market has opened in positive territory despite stronger than expected economic news. The stock markets have fallen into negative territory with the Dow down 28 points and the Nasdaq down 7 points. The bond market is currently up 7/32, which with yesterday's late rally should improve this morning's mortgage rates by approximately .250 - .375 of a discount point.The … (3 comments)
rates: Market Update - Lock or Float (September 27)
- 09/27/07 02:42 PM
Hey Folks, I apologize for this coming out so late! But, here is today's market update and suggestions. Please not that the advice on the lock and float has changed significantly! Thursday's bond market has opened in positive territory following weaker than expected economic news. None of this morning's data was considered to be highly important, so the reaction has been muted. The stock markets are nearly unchanged with the Dow up 2 points and the Nasdaq up 5 points. The bond market is currently up 7/32, which should push this morning's mortgage rates slightly lower.The final revision to the 2nd Quarter … (0 comments)
rates: Good articles for today! (September 26)
- 09/26/07 09:31 AM
I found several great articles that were published! I wanted to share these with you and get your general opinion on them (either just one, or all). So, here they are: Mortgage Applications Drop While Refinancing IncreasesLoan Modifications for Subprime BorrowersFed Rate Cut has Opposite EffectThese 3 articles were well written in their own respects. The Mortgage Application article is a great source of data with regard to what is currently going on in our world of mortgages - if people are out there applying for loans, or if they are "waiting" for the bottom to fall out. The Loan modification article is … (1 comments)
rates: Market update for September 20th. - lock or float your loan?!
- 09/20/07 03:12 PM
On a day that Forbes came out with the 400 richest Americans, Bill Gates celebrates as number one yet again! However, that celebration can't be carried over to Main Street or Wall Street. Here are a few important articles that were published today: "Stocks Fall After Mixed Earnings""Bernanke: Fresh Assurances on Economy""Retailers Face Mortgage Problems Risk""Goldman Sachs Benefits in 3Q, Bear Hurt"The national average rate on a 30 year fixed mortgage raised from 5.95% to 6.02% today, and the APR for these loans jumped to 6.19% from 6.03%. With the news release on both Goldman Sachs and Bear Sterns, Wall Street was torn … (2 comments)
rates: Market update for September 19th. - to lock or float your loan?!
- 09/19/07 03:41 PM
Over the past few weeks, we have all seen the market go up and down like a roller coaster from the "deep south". No stock was safe and no Real Estate or Mortgage Company was left unturned by what has been going on. Now, we get the big news yesterday with regard to the Fed Funds rate cut. With very few factual reports, investors showed a massive boost of confidence and increased the Dow by .55% by the day's end. I have heard reports on both sides of the spectrum that rates on long-term mortgages have gone up since yesterday, and … (5 comments)
Ok, so I am going to be extending my lock recommendation from anything within 60 days to anything with a 90 day period; lock those loans. Here is why:
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