maryland mortgage: Should I float? Should I lock? - Daily Update for Thursday, August 14, 2008
- 08/14/08 12:46 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. The Consumer Price Index (CPI) jumped more than expected for last month. The Core CPI (taking out volatile energy and food) came in at analyst expectations. Jobless Claims also came in slightly higher than expected. With inflation coming in at 5.9% (highest since 1991) look for both stocks and bonds to be rather subdued today. This definitely signals the Fed will be raising rates by year's end (3 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Thursday, January 31, 2008
- 01/30/08 11:53 PM
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. Mixed bag of news today. Personal Income Expenditures held at expected levels, though personal income and spending was up slightly in December. Jobless claims came in higher than expected. All this roughly translates to good news for bonds. This shows inflation being held in check (for the moment). Technically speaking - the FNMA 5.5% 30 year bond had stayed below the 10 day moving average yesterday. (2 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Wednesday, January 30, 2008
- 01/29/08 11:57 PM
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. Gross Domestic Product (GDP) was released today coming in lower than expected. Auto Sales were also released coming in at expectations. A wee bit confusing as the Auto Sales show the economy not slowing down as much as expected. (Perhaps there is no recession) Technically speaking - the FNMA 5.5% 30 year bond fell below the 10 day moving average again. The bond is still very near (2 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Monday, January 28, 2008
- 01/28/08 12:13 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. Last week's fears and roller coaster are not yet a distant memory. Overseas markets took a beating today and those fears look to be passed on to US markets. The Fed has their regularly scheduled meeting on Wednesday. This coupled with some possibly highly volatile news towards the end of the week could have traders pausing to see how things pan out. Technically speaking - the FNMA (4 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Friday, January 25, 2008
- 01/24/08 11:43 PM
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. After yesterday's news of unemployment numbers coming in less than expected and an agreement between Congress and the White House for an economic stimulus package, stocks continued to get better and bonds continued their decline. With no scheduled economic news being reported today, Microsoft's cheery outlook and the possibility of some really great things that could come from the stimulus package, stocks appear to be (1 comments)
News we all know already - The Fed dropped the Fed Funds rate by 3/4 of a point to 3.5% on Tuesday. Banks quickly matched that and dropped the Prime Lending rate to 6.5%.
Now the question is why are bonds falling and conversely mortgage rates appearing to rise? Initially, when the rate cut was announced a euphoria developed causing bond pricing to improve and mortgage rates to fall. If you were able to catch this wave through advice from your mortgage broker - than good for you. Since then though, bond prices have backed off from almost 3 years highs (7 comments)
maryland mortgage: Should I Float? Should I Lock? - Daily Update for Tuesday, October 30, 2007
- 10/30/07 08:12 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 Confidence slipped to a two year low. This bad economic news is actually good for interest rates. This coupled with a bounce off of a support level yesterday allows bonds to remain in a tight trading range. The big news that will be released first thing tomorrow is Emplyment cost index and the Chicago PMI. This coupled with the Fed having their meeting will (0 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Monday, October 29, 2007
- 10/29/07 01:52 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 due out for today. Wall street is waiting for the Fed Meeting on All Hallow's Eve Day. The traders are getting all giddy at the almost sure thing of another rate cut. The news being released Wednesday morning will certainly be giving road signs as to how the Fed will act. A Fed cut will be a good thing for home owners with HELOC's (0 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Friday, October 26, 2007
- 10/26/07 01:56 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. Countrywide reported a $1.2 Billion quarterly loss, but "promises" to return to profitability soon! The stock market seems to like promises so stocks in general are up at the open. Because money is flowing into stocks and the money needs to come from somewhere, bonds are taking a bit of a hit today. Technically speaking, bonds are overbought and hitting against a year high resistance level so (1 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Thursday, October 25, 2007
- 10/25/07 02:08 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. More Good News for Rates (or bad ecnomic news). Durable Goods Orders came in at a loss for last month. The people in the know where expecting a rise of about 1.5%, instead the orders dropped by 1.7%. Also, jobless claims cam in slightly higher than expected. While both of these bits of news are not good for the economy, they are good for interest (2 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Wednesday, October 24, 2007
- 10/24/07 02:38 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. How we celebrate the bad things in life. Merril Lynch took a $7.9 Billion hit on mortgage losses. This coupled with existing home sales still showing a down trend has led the traders to get out of the stock market. Since the money needs to go somewhere, the FNMA 6.0% 30 year bond is breaking through resistance levels and matching yearly highs. Even though bonds (1 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Tuesday, October 23, 2007
- 10/23/07 01:53 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. Good Business News yesterday with Apple having great numbers as well as other companies coming in with good numbers. Cash will start flowing into some stocks and since it has to come from somewhere, look for bonds to step back a bit. Bonds are oversold and bumping up against ceilings of resistance - the same ceiling that bonds have not been able to break through for (1 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Monday, October 22, 2007
- 10/22/07 01:41 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. There is little economic news coming out until Wednesday. Until something comes along to move bonds in a major way they will continue to generally move in the direction of least resistance. Since stocks took a bad beating on Friday (down over 300 point) and do not currently appear to be getting better today, bonds will continue to get better. A little bit of profit (3 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Friday, October 19, 2007
- 10/19/07 07:04 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 news today. Stock market has taken a tumble - currently down 280 points on the day. Bonds are liking this. Since folk appear to be taking money out of stocks then it has to go somewhere, hence it goes into bonds. Bond pricing has improved and rates are getting better. Technically speaking - from the blasting throught the 200 day moving average and (1 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Wednesday, October 17, 2007
- 10/17/07 01:53 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 offer the best advice for YOUR unique situation Good News Today or shall I say bad Economic News. Although the Consumer Price Index (CPI) was .1% higher than expected, the core CPI (which takes out energy & food) was right in line with analysts expectations. This coupled with the the bond being oversold suggests that today would be an excellent day to Float. The only thing to watch out for is how the stock market does. (2 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Tuesday, October 16, 2007
- 10/16/07 01:53 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 offer the best advice for YOUR unique situation Two bits of news that came out today (Industrial Production and Capacity Utilization) were right in line with expectations. This coupled with the stock market currently in a down trend and the 6.0% FNMA 30 year bond being over sold, the word of the day is Float. If things change through out the day - I will edit and inform right here. Make it a great day! (0 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Monday, October 15, 2007
- 10/15/07 01:24 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 offer the best advice for YOUR unique situation Today the Empire State Manufacturer's Index rose significantly indicating continued strength in the economy, a good outlook on jobs growth, capitol spending and technology spending. Remember that Good Economic News = Bad Rates So far today the FNMA 6.0% 30 year bond has fallen below the 200 day moving average and appears to be going lower. Today would be a great day to Lock (4 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Thursday, October 11, 2007
- 10/11/07 05:03 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 offer the best advice for YOUR unique situation Well, well. 2 seeming bits of contradictory news came out today. Jobless claims were down a bit over expected numbers - good news for the economy, bad news for bonds - and the balance of trade came in with investor's spending an addional $2 Billion dollars more than expected - good news for both the economy and for bonds. Why? Since Bernanke and company decided to lower interest (2 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Tuesday, October 9, 2007
- 10/09/07 07:38 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 offer the best advice for YOUR unique situation The only news of the day today was the release of the FOMC meetings from when the Fed dropped the Prime Lending rate by 1/2%. The FOMC minutes showed that a "weak" housing market and a concern in spending caused the Fed to drop the rate. With the FNMA 6.0% 30 year bond hovering right around the 200 day moving average and the bond being oversold, I (1 comments)
maryland mortgage: Should I float? Should I lock? - Daily Update for Friday, October 5, 2007
- 10/05/07 12:54 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 offer the best advice for YOUR unique situation Well, well - look at that. Unemployment rises .1%, more jobs were created in the economy last month than expected, last months numbers were corrected upward, and Hourly earnings are up. What does all this mean? Not neccessarily good news for bonds, BUT, we will have to wait and see how the traders are going to react to the news. Currently, the FNMA 6.0% 30 year bond is (0 comments)