stocks: 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)
stocks: 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)
stocks: 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)
stocks: 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)
stocks: 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)
stocks: 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)
stocks: 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)
stocks: Market Update - Lock or Float (October 12)
- 10/12/07 02:18 PM
The bond market opened in the negative after mixed economic news this morning. Stock rose slightly with the Dow up 52 and Nasdaq up 26 points. The bond is currently down 6/32, but because of yesterday's showing of strength, there will most likely be a minor improvement in mortgage rates today of approximately 1/8 of a point.September's Retail Sales data was the first report to enter today's market. It revealed an increase in sales of 0.6% from last the previous month's (August's) levels. This turned out to be good news because it was significantly higher than the 0.2% increase that was anticipated. Also, it … (0 comments)
stocks: 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)
stocks: 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)
stocks: Weekend Wrapup for Real Estate (September 14th)
- 09/14/07 09:57 AM
With the football season having it's first official kickoff for Monday night football during the week, it's only right to end the week on a good foot so we can get on the ball for Monday.... That was corny, but hey, I'm no stand up comedian. We all know that the market has been extremely volatile in recent months, and it is about time we get some good news. So, this week, I start out with this: The Dow finished this week as their best since April overcoming reports that Bank of England had to bail out Northern Rock (one of the big … (0 comments)
stocks: Monday Wrapup
- 09/10/07 09:41 AM
Monday is officially closed for business here on the East Coast. So, here is a breakdown of what happened today: Joseph Lewis now owns 7% of Bear Stearns' after a large share purchase which points to his confidence in a market upswing. There are rumors at this point in time that he will commit to a higher percentage tomorrow - possibly up to 13% of the company.Various speeches by Federal Reserve members did not help or provide any sort of confidence booster in the present market conditions especially after the Unemployment report that was released on FridayBottom line shows that even though … (0 comments)
stocks: Mid-Monday Mixup
- 09/10/07 03:51 AM
Here is Monday, September 11th's mid-day update on the market... With anxious investors waiting for the big date (September 18th when the Fed will meet again), the Dow started to rise this morning, but was rudely shaken and started to drop based on information provided by Fed members. The bond is also down right now to 4.3009%. Another big event this morning was the infusion of funds into Bear Stearns' by billionaire Joseph Lewis. He bought 8.1 million shares which yields him 7% of the company. So, the questions still remain with regard to the rates. Will the Fed lower them, or have things … (6 comments)
stocks: Weekend Wrapup for Real Estate
- 09/08/07 06:56 AM
The first week of September, though short, was truly a roller coaster ride. Rates were jumping up and down like jumping beans, and news articles were published left and right about the Fed dropping rates and also about job cuts. Here is a brief summary of the past week: Tuesday, September 4, 2007: Thornburg Mortgage sells 20 million of its shares to stay afloat in the mortgage industry.Deutsche Bank declares that the market is stabalizing stating that market liquidity is increasing every day.American Home Mortgage has a final approval for their $50 million bankruptcy loan in order to finance the Chapter 11 BK they … (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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