Mortgage Market Snapshot 4/25/12

Mortgage Market Snapshot 4/25/12

Well today was actually a good sign. Seeing very little in the way of movement on the FNMA 3.5 coupon as well as the 10Y Treasury helped stave off what could have easily been a panic sell after 6 straight days of gains. Holding very tightly to open and close levels from the previous days horrific end is a good sign.

Tomorrow will bring us some more relevant and potentially market moving data (depending on the numbers)

Tomorrow bring the Unemployment numbers, Pending Home Sales and the next wave of the week the 7yr notes 

Claims are expected to be in the 375k range and if this numbers comes in well below that or well above that expect the market to follow suit. (keep in mind for any real sustainable recovery we need this number to be closer to the 200k mark for several years so we have a ways to go)

If the Pending Home Sales and the 7 yr Notes show weakness that could also bode well for bonds and lower rates.

I think today's session set us up for a less than rocky rest of the week and a normal trading range of 103.25 on the low side to 103.75 on the high is likely (meaning not a lot of gain or loss for those who are not locked)

Remember to get in on the savings and incredible offers out there you have to ACT!

Don't sit and watch be a participant and go buy a house or save money on the one you already have!