Goldman Sachs Brings Down Stocks, Interest Rates Improve - 04/30/10 06:53 PM
Goldman Brings Down Stocks, Interest Rates Improve.
 (When the bond goes up, rates go down.)
As you can see by the chart below the bond is currently surging higher, currently up +28 basis points.  This is going to help rates going into the weekend if we can hold on to those gains.
The News Moving the Bond Today: 
There's really only one story that seems to be moving the bond positively: the government's investigation of Goldman Sachs.  Today, a criminal investigation was opened by Federal prosecutors in addition to the civil suit that has been put them front and center in … (0 comments)

Mortgage Interest Rates Up Early This Morning - 04/23/10 10:48 AM
Your Daily Rate Update
Alert To Lock
 (When the bond goes down, rates go up.)
As you can see by the chart below the bond ended yesterday in the red, and today it has already lost 28 bps as of this post. 
The news moving the bond today: 
New Home Sales were great for March, 411,000 vs. 324,000 in February.  This signals positive news for the economy, which is normally bad for bonds.  The Treasury department signaled they may start selling some of the $1.25 trillion in mortgage bonds in the 3rd or 4th quarter of 2010.  This has the potential … (0 comments)

Mortgage Interest Rates Rise At Close Of Market - 04/14/10 07:24 PM
Daily Rate Update
Good Economic News = Bad For Mortgage Bonds
 (When the bond goes down, rates go up.)
This morning, the bond started off in negative territory, losing 12 basis points early on.  Then at mid morning the bond was at its highest levels testing the R1 resistance point you see in the chart due to tame inflation reports.  This R1 represents the 100.35 price.  The bond just couldn't rally past it today, started falling on news of better economic outlook,  It closed down -28 basis points.
The chart below shows a black wavy line indicating the up and down … (0 comments)

Mortgage Interest Rate - Weekly Wrap Up - 04/09/10 04:56 PM
New Range for Rates?
 (When the bond goes up, rates go down.)
This morning, the bond started off in negative territory, losing as much as 25 basis points early on.  Then, at midday, the bond was at its highest levels testing the resistance point you see in the chart.  This represents the 100.15 price, and the bond just couldn't rally past it today.  It closed up +9 points.
The chart shows two green brackets where the bond has traded since Wednesday of last week.  Could this be our new post-gov't MBS program trading range for a while?  Only time will tell.
… (0 comments)

Why Is 2010 A Bargain Market For Home Buyers? - 04/08/10 10:05 AM
2010 Bargain Market For Home Buyers!
In the April 6, 2010 issue of Forbes online magazine, the case is outlined for the great deal homebuyers can receive this year. (http://www.forbes.com/2010/04/05/housing-federal-reserve-mortgages-opinions-columnists-brian-wesbury-robert-stein.html?boxes=Homepagechannels ) The question is, how long will this last?  The article seems to point to the recovery that is already occurring in housing markets will continue into next year, which means home prices will continue to rise.  This is already happening in many markets, and as prices improve the "bargains" will slowly disappear. 
This news is not really discussed until their fourth point, and the beginning of the article deals with … (0 comments)

Bond Still Down - Showing No Signs Of Recovery - 04/01/10 02:18 PM
Bonds are still way down, currently -38 bps. 
When bonds are down, rates are up. 
Rates have probably changed about .125% in cost from yesterday's close. 
… (0 comments)

Mortgage Interest Rates Up Early This Morning - 1st Day After Gov't Stops MBS Purchase Program - 04/01/10 09:03 AM
Morning Rate Update (8:45 am CST)
ALERT TO LOCK!
 (When the bond goes down, rates go up.)
This morning, the first day after the government's bond purchase program ended, the bond takes an immediate dive, currently down -41 points.  This is equal to about a .25% cost to hold the same rate as yesterday. 
If you have not yet locked in these great rates, you may very well miss them if you do not act quickly.  If you know someone that is in the loan process, please make them aware as well.
Please contact me if you have any questions.

… (2 comments)

 
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Doug Walker

Nashville, TN

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Churchill Mortgage

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