San Antonio Mortgage Rates Ease Ahead of Auction
AS Reported by CNNMoney.com -- Treasurys advanced Wednesday after the government said new orders for durable goods rose last month and investors braced for a $41 billion offering of 5-year notes.
Prices rose for a second day after an auction of $44 billion in 2-year notes on Tuesday received strong demand. The U.S. will offer $31 billion worth of 7-year notes Thursday in the last of three auctions this week totaling a record $123 billion.
The Commerce Department said new orders for durable goods rose 1% in September after a 2.4% decrease in August. The increase was in line with economists' expectations, but orders outside the transportation industry were stronger-than-expected.
Government figures due later Wednesday are expected to show sales of newly built homes rose at an annual rate of 440,000 units in September. That would be an increase of 2.6% versus the previous month.
Bond prices. The benchmark 10-year note was up 2/32 to 101 17/32 and its yield slid to 3.443% from 3.448% late Tuesday. Bond prices and yields move in opposite directions.
The newly issued 2-year note gained 2/32 to 100 1/32. Its yield eased to 0.985% from a median yield of 0.980% at Tuesday's auction.
The 30-year bond gained 4/32 to 103 27/32. Its yield was 4.27%.
The next few days will be interesting to say the least for San Antonio mortgage rates and the quotes you will be getting from San Antonio mortgage Loan Officers.
This blog was reposted by Steve Brown of Gold Financial Services, universal City, TX. Gold Financial Services is a full service mortgage banking firm with a wide variety of conventional and government loan products, including Texas Veterans Land Board assistance program. www.mortgagesbysteve.com (210)862-2885 sbrown0007@aol.com
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