Should I float? Should I lock? - Daily Update for Thursday, July 3, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Major Reports came out this morning and it looks like "good" news for bonds. Unemployment ticked up .1% and non farm payrolls was a bit lower than expected. Only "bad" news was the EU raised their interest rate by .25%, which will end up having repercussions on the "almighty" US dollar and indirectly on the price of oil. Technically speaking - the FNMA 6.0% 30 year bond fell down to the 10 day moving average this morning on the EU news. Bonds need to hold at this level if mortgage rates are to remain steady or improve. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Wednesday, July 2, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. No major reports due out today (the somewhat followed ADP report showed a sharp decrease in jobs - though their numbers are mostly off). Tomorrow there will be a spate of them. Until then, bonds will be taking direction from stocks and oil. Technically speaking - the FNMA 6.0% 30 year bond fell down to the 25 day moving average yesterday. If bonds are able to bounce off of this support level, then a marked improvement is possible. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Tuesday, July 1, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. "New Quarter, old fears" - Headline for CNN/Money screams! Suppose that's better then having new fears. ISM Index is scheduled to be released at 10 AM. This could be a market mover. Yesterday stocks barely budged and bonds stayed the same. Technically speaking - the FNMA 6.0% 30 year bond ended the day the same as Friday. Perhaps a good reading off of ISM will encourage bonds to break above current resistant levels and get rates on the rate path - down. Bonds are still below overbought territory so there is still plenty of room for growth. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Monday, June 30, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Oil is up, stock market down - bonds are confused. The Midwest "Business Barometer" came in this morning higher than expected yet still in an "economic contraction". This is causing some angst in the bond market. Technically speaking - the FNMA 6.0% 30 year bond broke above support levels on Friday due to good/bad economic reports. The bond has broken south this morning with the better than expected news from the Midwest, though still above the 25 day moving average. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Friday, June 27, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Mess of reports this morning. Biggest gaffe was the pundits being way off on personal income (though this could have something to do with the "economic relief package" that came out). Personal Spending was also up slightly. The biggest "good" news is personal expenditures came in lower than expected and in line with last month's numbers.. Technically speaking - the FNMA 6.0% 30 year bond bumped up against a resistance ceiling yesterday. As bond traders digest news this morning, we could see this level nicely broken and rates continue to improve. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Thursday, June 26, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Auto Sales came in slightly higher than expected, GDP came in exactly here pundits expected (a bit higher than last month), and Jobless Claims were higher than initially expected. All this appears to support the Fed's decision to leave interest rates exactly where they are. Technically speaking - the FNMA 6.0% 30 year bond bounced off the 10 day moving average yesterday. This morning bonds are taking the inflationary news in stride and coming up slightly. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Wednesday, June 25, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Durable Goods Orders came in at expectations - though higher than last month. Later today the Fed will be releasing a statement about how they think the economy is doing. Though it is expected the Fed will raise the Fed Funds Rate by the end of the year, pundits do not expect it to occur in this cycle. Expect to see the Fed to leave rates alone this time around. Technically speaking - the FNMA 6.0% 30 year bond has dropped back down to support levels from yesterday's small gain. Though bonds are oversold a waiting game is in the works to see what the Fed actually does in today's meeting. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Tuesday, June 24, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Consumer Confidence is on tap for this morning. This coupled with the news of what the Fed will be doing in its regularly scheduled meeting has investors on edge. Technically speaking - the FNMA 6.0% 30 year bond has appeared to bounce rather nicely off the 10 day moving average. The bond still being in an oversold state could do a little gain today helping mortgage rates to drop. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Monday, June 23, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. With little economic news on tap for the next couple days, bonds will be looking to stocks for direction. Technically speaking - the FNMA 6.0% 30 year bond is currently in the bottom half of a support/resistance range. With bonds currently oversold, bonds and rates will probably hold steady even in light stock gains. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock Should I float? Should I lock? - Daily Update for Friday, June 20, 2008Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Little economic news on tap for today. Big news yesterday in China raising its price of oil for its citizens. This helped bring down the speculators a notch. Stocks appear to be set for another drop today - this spells good news for bonds. Technically speaking - the FNMA 6.0% 30 year bond was on a bit of a roller coaster yesterday. If bonds are able to break above current resistant levels, look for a bit of an improvement in rates. Since this is no time to gamble, if you haven't done so yet To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock
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Matthew Rosov, Certified Mortgage Planning Specialist Laurel, MD More about me… Envision Lending Group Office Phone: (301) 536-2875 Cell Phone: (301) 536-2875 Email Me  Maryland Mortgages and Market Reports
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