Should I float? Should I lock? - Daily Update for Thursday, July 31, 2008 - 07/31/08 07:49 AM
Here 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.
The first round of high profile economic reports were released this morning.  The reports show the economy is still not doing well.  This is good news for mortgage rates.  Gross Domestic Product came in lower and Jobless Claims came in markedly higher. 
Technically speaking - the FNMA 6.0% 30 year bond blasted through the 25 day moving average this morning based on the above … (0 comments)

Should I float? Should I lock? - Daily Update for Wednesday, July 30, 2008 - 07/30/08 07:53 AM
Here 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.
Tomorrow and Friday will have a spate of economic news reports coming out.  This morning ADP (the nation's "largest" payroll company reported an increase of jobs.  Though a nice widespread report it doesn't take into account many other factors. 
This morning President Bush signed the Housing Rescue Act into law. 
Technically speaking - the FNMA 6.0% 30 year bond bounced off of the 10 … (2 comments)

Should I float? Should I lock? - Daily Update for Tuesday, July 29, 2008 - 07/29/08 07:53 AM
Here 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.
Volatile Economic News will be released in the latter half of the week.  Yesterday stocks took a nosedive on fears of the possibility of bad banking news.  This morning stocks appear to be gaining back some ground based on Merrill Lynch's initiative to take losses on some risky investments. 
Technically speaking - the FNMA 6.0% 30 year bond rose nicely above the 10 day moving average … (0 comments)

Should I float? Should I lock? - Daily Update for Monday, July 28, 2008 - 07/28/08 08:09 AM
Here 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 news is no news.  Big reports will be coming out in the latter half of the week.  Until then bonds will be taking direction from stocks and other non economic news.
Technically speaking - the FNMA 6.0% 30 year bond fell Friday erasing Thursday's nice gains.  This morning bonds appear to be heading up (currently bumping against the 10 day moving average) with a … (0 comments)

Should I float? Should I lock? - Daily Update for Friday, July 25, 2008 - 07/25/08 09:05 AM
Here 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 rose more than analysts expected.  New Homes Sales rose slightly and consumer confidence came in higher than expected.  All good news for stocks - bad news for bonds
Technically speaking - the FNMA 6.0% 30 year bond jumped up to the 25 day moving average yesterday but has since fallen back to a key support level on the various items mentioned … (0 comments)

New Chapter President Installed for BNI Tuesday, Lunch Silver, Spring - 07/24/08 01:28 PM

BNI Tuesday Lunch Silver Spring
is pleased to announce
the 2008/2009 Executive Board.

President - Matthew Rosov of Envision Lending Group (Residential Mortgages)
Vice President - Christa Mobley of Inner Lift (Professional Organizer)
Secretary/Treasurer - Nick Martinez of Edward Jones
We are a group of professionals who meet, on a weekly basis on Tuesdays at Mayorga Coffee Factory in downtown Silver Spring from 11:30 to 1 PM, to learn more about each other's business and pass qualified referrals. 
We currently have professionals representing Custom Painting, Financial Planning, Professional Organizing, Banking, Residential Mortgages, Fitness, Interior Decorating, Green Landscaping, Electrician, Disability and Health … (2 comments)

Should I float? Should I lock? - Daily Update for Thursday, July 24, 2008 - 07/24/08 07:48 AM
Here 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.
This morning Jobless Claims came in almost 10% higher than expected.  Yesterday, the Beige Book - a survey of what is happening across the various Fed sectors - showed exactly what we have been seeing already.  Continued slowness and sluggishness in the economy.  Only bright spot is the recent drop in oil prices - down $20 since hitting its high.
Technically speaking - the … (2 comments)

Should I float? Should I lock? - Daily Update for Wednesday, July 23, 2008 - 07/23/08 07:53 AM
Here 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 Report due out this afternoon which will offer some guidance to how the Fed may act at their next meeting in two weeks.  Until then, bonds will be taking direction from stocks.  Stocks appear to be on an upswing this morning with the continued "weakening" of oil.   
Technically speaking - the FNMA 6.0% 30 year bond fell to yearly lows yesterday, then settling … (0 comments)

Should I float? Should I lock? - Daily Update for Tuesday, July 22, 2008 - 07/22/08 08:26 AM
Here 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 economic reports are due out until tomorrow afternoon.  Bonds will be taking direction from stocks again today, unless some overshadowing news breaks out. 
Technically speaking - the FNMA 6.0% 30 year bond rallied late yesterday breaking through a resistance level.  This morning bonds have sunk back below that same level.
Because of the negative action of bonds I am recommending to
  LOCK your mortgage … (0 comments)

Should I float? Should I lock? - Daily Update for Monday, July 21, 2008 - 07/21/08 09:17 AM
Here 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.
Index of Leading Economic Indicators was released this morning meeting expectations.  For an index with such a long name it's relatively unimportant.  With little other news bonds will be taking direction from stocks again. Stocks appear to be in a mixed mode so
Technically speaking - the FNMA 6.0% 30 year bond sank again on Friday.  The bond is approaching the worst levels of the … (1 comments)

Should I float? Should I lock? - Daily Update for Friday, July 18, 2008 - 07/18/08 08:51 AM
Here 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 scheduled economic news reported today.  Though Citigroup's surprising report is expected to lift stocks this morning be aware that stocks could worsen as profit taking occurs.  With a lifting of stocks, expect to see bonds, hence rates, to worsen again.
Technically speaking - the FNMA 6.0% 30 year bond rebounded off a minor support level yesterday while opening the day bouncing off an … (2 comments)

Should I float? Should I lock? - Daily Update for Thursday, July 17, 2008 - 07/17/08 08:37 AM
Here 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.
Jobless Claims, housing starts and housing permits all came in better than expected.  The banking sector is doing better than expected and oil is dropping for a third day in a row.  This all points to the stock market doing much better and therefore bonds taking a real beating, i.e. look for rates to worsen.
Technically speaking - the FNMA 6.0% 30 year bond … (5 comments)

Should I float? Should I lock? - Daily Update for Wednesday, July 16, 2008 - 07/16/08 08:51 AM
Here 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 Pricing came in at a record high since 1991.  Both regular and core CPI were higher than expected.  With further testimony by the Fed chairman Ben Bernanke things could still get a bit dicey later in the day.
Technically speaking - the FNMA 6.0% 30 year bond has fallen with the unexpected bad news of inflation.  The bond has dropped to the 10 … (1 comments)

Should I float? Should I lock? - Daily Update for Tuesday, July 15, 2008 - 07/15/08 07:46 AM
Here 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.
Bonds bounced back up yesterday to the 50 day moving average.  This morning the Producer Price Index (PPI) - tracks what producers spend - came in higher than expected, yet the core PPI (stripping out volatile energy and food) dropped slightly.  Retail sales came in lower than expected.  Only "bright" spot was the New York area index showing less of a decline than expected.
… (0 comments)

Should I float? Should I lock? - Daily Update for Monday, July 14, 2008 - 07/14/08 08:24 AM
Here 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.
Friday ended up a very bad one for bonds.  After climbing nicely through the morning hours, they took a tumble due to all the rumors being flung back and forth.  With the closing of Indy Mac by regulators late on Friday and the federal governments plan to "save" Fannie Mae and Freddie Mac from going under. 
Big reports will be released over the next few … (1 comments)

Should I float? Should I lock? - Daily Update for Friday, July 11, 2008 - 07/11/08 09:13 AM
Here 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.
Yesterday bonds performed admirably by breaking back above the 200 day moving average!  Unfortunately, a monthly bond rollover caused the final price to sink back below the magical boundary.  This morning bonds having been yoyoing above and below this mark.  Consumer Sentiment came in just above expectations while the Trade Deficit fell slightly.  
Technically speaking - the FNMA 6.0% 30 year bond jumped nicely … (2 comments)

Should I float? Should I lock? - Daily Update for Thursday, July 10, 2008 - 07/10/08 08:33 AM
Here 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.
Jobless Claims were reported this morning under what analysts had expected.  Oil didn't make a comeback and stocks fell further yesterday.  Bonds still appear to be taking direction from stocks.  
Technically speaking - the FNMA 6.0% 30 year bond jumped nicely again yesterday.  It couldn't quite break above the 200 day moving average (this puppy is a tough ceiling to crack).  With bonds quickly … (0 comments)

Should I float? Should I lock? - Daily Update for Wednesday, July 9, 2008 - 07/09/08 07:50 AM
Here 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.
Still in a slow week for economic reports.  Yesterday, the Fed stated they would be continuing the emergency Fed Fund to banks and lenders.  This good news, along with continued weakening of oil, caused bonds to rally.  
Technically speaking - the FNMA 6.0% 30 year bond jumped nicely yesterday.  Though making great gains it has jumped up to another resistance level.  Bonds are now … (0 comments)

Should I float? Should I lock? - Daily Update for Tuesday, July 8, 2008 - 07/08/08 07:31 AM
Here 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.
Since this is a rather slow week in terms of scheduled economic reports, bonds will be taking direction from stocks this week.  Yesterday, bonds got off to a rocky start with oil dropping almost $4 and the dollar strengthening.  Though this "good" news did not last with investors being spooked because of upcoming earnings reports from various Wall Street firms. 
This morning stocks appear … (0 comments)

Should I float? Should I lock? - Daily Update for Monday, July 7, 2008 - 07/07/08 08:16 AM
Here 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.
Since this is a rather slow week in terms of scheduled economic reports, bonds will be taking direction from stocks this week.  With an apparent strengthening of the dollar and a (small) drop in oil prices look for stocks to go up and bonds to come down (rates go up as well).
Technically speaking - the FNMA 6.0% 30 year bond has fallen below … (1 comments)

Should I float? Should I lock? - Daily Update for Thursday, July 3, 2008 - 07/03/08 07:44 AM
Here 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% … (2 comments)

Should I float? Should I lock? - Daily Update for Wednesday, July 2, 2008 - 07/02/08 07:42 AM
Here 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 … (1 comments)

Should I float? Should I lock? - Daily Update for Tuesday, July 1, 2008 - 07/01/08 07:57 AM
Here 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 … (1 comments)

 

Matthew Rosov, Certified Mortgage Planning Specialist

Laurel, MD

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Amerisave Mortgage Corporation

Address: 6502 Walker Branch Dr, Laurel, MD, 20707

Office Phone: (866) 970-7283 x 6840

Cell Phone: (301) 536-2875

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