float: Halloween in Leesburg - 11/09/08 08:43 PM
When we moved to Leesburg, no one told us how different Halloween would be. Here, on "All Hallowed Eve", children dress in their costumes, lining the streets of downtown Leesburg, to collect treats thrown to them from passing parade floats. The parade is put on by the local Kiwanis club, and … (0 comments)
|
float: This market is a Roller Coaster named: VOLATILE... - 09/23/08 02:01 PM
I speak with clients and Realtors everyday and they ask me the same question:
"So Jon, how are the rates today?"
I explain the current rates but I always end the conversation explaining the volatility in the market. There are such huge swings in the market that rates are … (0 comments)
|
float: Lock or Not to Lock ?????? - 09/19/08 10:32 AM
Phone rings, I answer "Mortgage Xperts this is Dan how can I help you?"
Customer "What are your rates?"
After being in this business for nine years and funding close to 300 million, eveytime I hear this I think of how uneducated the consumer really is.
The point I want to … (0 comments)
|
float: To Lock or Not To Lock, That is The Question . . . - 06/11/08 05:51 PM
"Whether tis nobler in the mind to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of troubles, And by opposing end them?"Ahh you didn't know I knew me a little Shakespeare did you? I've taken some liberties to modify this classic line from Hamlet. … (0 comments)
|
float: Lock vs float-Todays New York Fixed Mortgage rates - 05/22/08 01:48 PM
Today's rates are up after oil prices retreated from their high yesterday. An unexpected drop in unemployment also helped markets rise slightly. Yesterday's release of the last Federal reserve meeting minutes sent mixed messages that concerns linger about economic growth and inflation. The sense now is that investors are seeing long term … (0 comments)
|
float: Float vs. lock--Today's new York Mortgage Rates-5/21/08 - 05/21/08 03:31 PM
Stocks are again down and uneasy investors have also driven the bond market down triggering slight increases in rates today. It is predicted that the market will continue to see a downtrend and this will eventually take the investors out of stocks and into bonds. Rates may begin to fall based on … (2 comments)
|
float: Today's Mortgage Rates in New Tork-5/16/08 - 05/16/08 11:05 AM
As expected, today's rates are down considerably from yesterday. This is do primarily to the new high that oil reached yesterday along with very weak US Consumer Confidence Index figures posted by the University of Michigan. The figure was the weakest since 1980 (aside from the post Iraq invasion days and … (1 comments)
|
float: Todays New York Mortgage Rates-Float or Lock?--5/14/08 - 05/14/08 12:46 PM
Yesterday's bond weakness has driven today's rates up by 1/8 to 1/4 point. This morning, however, we see the market up with better than expected results on Consumer Prices which has eased inflation concerns. Oil is also down slightly. You may see a rate lowering this afternoon, but it won't be … (0 comments)
|
float: New York Rates for today 5-9-08 - 05/09/08 09:55 AM
Well, Oil reached a new high today at $126 a barrel, there was low interest in yesterdays Fed Auction, but with the Trade deficit dropping more than expected suggesting lower demand for imports and with AIG posting a huge first quarter loss, markets reacted negatively driving Bond prices up and rates … (0 comments)
|
float: Mortgage Professional's - You will want to use this. - 05/08/08 05:22 PM
This is a repost from a month or so ago, but I thought it was worth sharing again for those that may have missed it. Have a good one!
Do you have a crystal ball to tell you where interest rates are going?
Well neither do I...but I found something close!
If you are … (2 comments)
|
float: Expect Slightly better rates today-5/8/08 - 05/08/08 11:04 AM
There is marginal good news in many markets this morning. Oil prices have retreated slightly from yesterdays records, retailers showed slightly better than expected sales , jobless claims marked a sharp decline.....all this is leading to Bond prices going up and rates down just a bit.
Today's Fed Auctions will be … (0 comments)
|
float: Rates Today for New York - 05/07/08 11:07 AM
Ok, so there was a rise in Employee Productivity but the rates are going the wrong direction. Labor cost pressures eased as a result. Why did rates rise? At the same time as this glimmer of positive news, there was increasing concern over new OIL record highs and of course there … (0 comments)
|
float: Interest Rates - Crazy Week! - 05/01/08 08:55 PM
This has been a BIG week of economic news and events! Yesterday we saw the Fed reduce the Fed Funds and Discount rates by a .25% each down to 2.00% and 2.25% respectively. Remember, these rate drops directly affect HELOCs, auto loans, credit cards and short term rates...mortgage rates are determined … (0 comments)
|
float: This weeks Mortgage Rates - 04/28/08 02:03 PM
It will be a very busy week for rates. Each day will bring changes, with Tuesday and Wednesday the days with the most economic report news coming into play. The Consumer Confidence Index for April, the release of the Gross Domestic Product, and the Employment Cost Index reports will drive this weeks … (0 comments)
|
float: Market Update Wednesday, April 23, 2008 - 04/23/08 01:59 PM
Current Price of FNMA 5.5 Bond : $100.38, -25bp
Mortgage bond prices are weaker this morning pushing mortgage interest rates higher.Since there is no data today, stocks and oil prices will likely dominate trading. Increasing food costs as well as consistently high oil prices cause inflation concerns. Stocks have closed negative the past … (3 comments)
|
float: Rates - 04/17/08 05:21 PM
VOLATILITY continues to be the theme of the current market. If you are prone to getting sick on a rollercoaster... hold on. FMNA 30-year 5.5% Fixed Rate Mortgage Backed Security played the role of the biggest and wildest rollercoaster at the theme park. It opened at 99.406 down from yesterday's close … (1 comments)
|
float: Today’s Rate Recap. - 04/16/08 07:09 PM
Navigating in today's market has become so tough. Lock, wait don't lock. It seems we are in Vegas daily and I hate gambling. The tables today were no different as all the gains we all enjoyed over the past several days came to an abrupt end. With the stock market rallying … (0 comments)
|
float: Mortgage Professionals - I am going to let you in on a secret - 03/18/08 04:02 PM
Do you have a crystal ball to forecast where rates are going?
Well neither do I. However, I came across this free website a few months back. The guy is an absolute genius when it comes to following the external factors that govern mortgage rates and predicting where rates will be and … (10 comments)
|
float: The perfect "Float" to liven any St. Patricks Day celebration !!!!! - 03/16/08 11:00 AM
Irish Float
Bring some good luck with this easy Irish treat!
Ingredients:
10-12 oz. glasses Vanilla ice cream 6 pack of preferred Irish stout Directions:
Fill glasses to the brim with scoopsof ice cream. Pour Irish stout over ice cream. Enjoy! The Perfect Toast
"May the Irish hills caress you.May her lakes and rivers bless you.May … (5 comments)
|
float: Should I float? Should I lock? - Daily Update for Friday, February 29, 2008 - 02/29/08 10:05 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.
A whole slew of reports this morning. Personal Income and Spending both came in higher. … (2 comments)
|
float: Should I float? Should I lock? - Daily Update for Thursday, February 28, 2008 - 02/28/08 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.
More good news (at least from a rate perspective). Gross Domestic Product came in lower … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Wednesday, February 27, 2008 - 02/27/08 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.
2 reports came out today as well. Durable Goods came in much worse than expected (New … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Thursday, February 21, 2008 - 02/21/08 10:51 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.
The Jobless Claims report came out this morning essentially in line with expectations. The big … (5 comments)
|
float: Locking / Floating Interest Rates - The Weekend Edition - Feb 9, 2008 - 02/09/08 04:49 PM
ok - time to flagellate a deceased equine! (Beat a dead horse)
Most exciting news of the week was the extreme reading on the Services Index that had been released on Tuesday. The rather low reading caused bond to spike nicely. This was reversed the next day by the "rantings" of Dallas … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Friday, February 8, 2008 - 02/08/08 09:58 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 took a big tumble yesterday due to a speech by Dallas Fed Chairman "Loose … (1 comments)
|
float: Should I float? Should I lock? - Daily Update for Thursday, February 7, 2008 - 02/07/08 08:13 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 stocks tried bouncing back from the bleak outlook that Tuesday caused. One report yesterday … (2 comments)
|
float: Should I float? Should I lock? - Daily Update for Tuesday, February 5, 2008 - 02/05/08 08:14 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.
Little news due out this week. Bonds will be taking direction from stocks and other … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Wednesday, January 23, 2008 - 01/23/08 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.
Though a slow week in terms of scheduled economic news, it has been a busy … (8 comments)
|
float: 1/22/08 - Fed Cuts Rates .75% in Special Meeting - 01/22/08 12:05 PM
The Federal Reserve held a special meeting last night which resulted in a .75% rate cut to the Fed Funds Rate to 3.5%. This is the first intermeeting action since September, 2001 and the deepest one day Fed Cut since 1984! A brief statement issued by the Fed this morning said: … (1 comments)
|
float: Should I float? Should I lock? - Daily Update for Tuesday, January 22, 2008 - 01/22/08 07:29 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.
Slow week in planned economic news. The big news of today is the sell-off of … (4 comments)
|
float: Should I float? Should I lock? - Daily Update for Tuesday, January 15, 2008 - 01/15/08 08:00 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.
Big news came out today with Retail Sales being down .4% and the Producer Price … (5 comments)
|
float: Should I float? Should I lock? - Daily Update for Friday, January 11, 2008 - 01/11/08 07:41 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.
Both stocks and bonds were on a mini roller coaster ride yesterday. The jobs report … (5 comments)
|
float: Should I float? Should I lock? - Daily Update for Thursday, January 10, 2008 - 01/10/08 07:51 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.
Some scheduled news occurred today. Jobless claims came in lower than expected. Yesterday, the stock market … (2 comments)
|
float: Should I float? Should I lock? - Daily Update for Friday, December 28, 2007 - 12/28/07 09:03 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 able to offer the best advice for YOUR unique situation.
The Chicago PMI or Business Barometer is expeted out later this morning. This is the … (0 comments)
|
float: Should I Float? Should I Lock? - Daily Update for Thursday, December 27, 2007 - 12/27/07 07:39 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.
While consumer confidence comes out later this morning, Jobless Claims came in just above projections and … (5 comments)
|
float: Should I float? Should I lock? - Daily Update for Wednesday, December 19, 2007 - 12/19/07 07:40 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.
A combination of a special auction by the Fed (which was successful) and continued fears … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Tuesday, December 18, 2007 - 12/18/07 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.
Yesterday the stock market took a tumble which in turn boosted bonds. Today's news is housing … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Monday, December 17, 2007 - 12/17/07 07:26 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.
The beginning of this week is slow in terms of economic news. Therefore bonds will … (0 comments)
|
float: Should I float? Should I lock? - Daily Update for Tuesday, December 11, 2007 - 12/11/07 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.
The Federal Reserve is meeting today. Everyone expects the Fed to decrease the Fed Funds … (2 comments)
|
float: Should I float? Should I lock? - Daily Update for Monday, December 10, 2007 - 12/10/07 08:03 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 able to offer the best advice for YOUR unique situation.
Big News of the week will be the results of the Federal Reserve meeting that … (0 comments)
|
float: Market Update - Lock or Float (October 9th) - 10/09/07 09:05 PM
I apologize for this getting updated so late today! Hopefully you all still get some good information out of it!
Tuesday's bond market has opened slightly in positive territory as investors wait for today's Fed minutes. The stock markets are showing gains with the Dow up 32 points and the Nasdaq up 4 … (2 comments)
|
float: Market Update - Lock or Float (October 1) - 10/02/07 10:42 PM
This is a little late for this blog post, but it is a daily thing that I post, so I hope you all enjoy!
Tuesday's bond market has opened in positive territory as yesterday's buying seems to be carrying over to today. There was no relevant economic news scheduled for today, but … (0 comments)
|
float: How much the Fed will cut tomorrow? Vote HERE!? - 09/17/07 12:06 PM
The only economic report released today was the New York Empire State Index for September, which came in less than expected and Mortgage Bonds had (yawn) little reaction.
All eyes and ears are now focused on tomorrow's Federal Open Market Committee meeting (11:15am PST). The debate continues on how much the Fed … (6 comments)
|
float: 10 Year Treasury Update - July 16th - What's new in rates this week? - 07/16/07 02:58 PM
Good afternoon All!
Maybe that's an understatement. It's a great afternoon in the market. The Dow is up, the Nasdaq is down some, oil is up (BOOO) but gasoline is down. Go figure. Crazy action all over the market.
Most importantly for me is the 10 year treasury average. Take a look … (0 comments)
|
float: 10 Year Treasury Update - May 11th - Taking It One Day At A Time - 05/11/07 03:10 PM
Some sort of turnaround today. I thought we looked good early today as the bond yields gapped down and stayed down for a majority of the day. And then it happened, around 12:30 the gap was closed and the yields continued upwards for the remainder of the day to close up … (2 comments)
|
float: The River is calling - 05/10/07 09:45 AM
I took a client out on a float trip, they wanted to see the property from a different perspective. I will do anything for a sale. They were wanting to see the land from the river and the other side. The only way I knew was to bring out the heavy … (2 comments)
|
float: 10 Year Bond Chart - May 1st - 05/01/07 02:41 PM
First off, I can't believe it's May 1st already. Remember being a kid and days, weeks and months lasted forever? Anything you wanted to do next year might as well have been 20 years away.
Let's take a look at today's chart and see what we see.
As I posted yesterday (See Yesterday's … (2 comments)
|
float: 10 Year Bond Yield Chart - April 26th - Where we going? - 04/26/07 02:49 PM
Take a look at the chart below and I'll give you my thoughts. Feel free to post your own comments.
Okay, so today the yield went straight up. What's it mean? I'm not sure. Great answer right? Alright, well maybe I'm a little sure. First and foremost, if you were floating … (4 comments)
|
float: Rate Watch 2007 - April 23rd - 04/23/07 11:18 AM
Not too long ago, Bill Gross, the PIMCO Bond Fund Manager, wrote an article predicting rates hitting all time lows! I don't know how likely that is but it was a good enough article to make me start watching interest rates on a regular basis and making my own determinations week … (4 comments)
|
float: Should I Float or Lock My Interest Rate? - 03/21/07 11:50 AM
Wow that's a loaded question! In fact, it's a question I get every day as a loan officer. First of all, because of the laws and regulations here in Illinois, I'm not allowed to answer that question for any of my borrowers. However, I wanted to share with all of you … (0 comments)
|
