Mortgage Market Snapshot 10.01.14

Well in an interesting twist today we saw anemic employment numbers (but better than the "estimated" target) actually not cause a rally into the market and the bonds saw some pretty significant gains!

The FNMA 3.5 coupon has been toying around the 102.5 number with resistance and bouncing off the low of appx 102.15 but today saw a significant spike as the coupon saw a total gain of appx 60bps for the day as it closed on a high note of 102.875.

This improvement pushes the trend to likely see resistance at 103 but that ceiling may yet break even this week.

On the floor expect 102.5 to be the new floor resistance.

What does all this mean?

If you are looking to buy or refinance you timed this perfectly and I advise a lock while pricing is at some very favorable terms, especially compared to the last 30 days!

Currently this gain is likely to move interest rates by .125% and that a nice 1 days movement in any market!

 

Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
720-524-8020
NMLS#392126
Equal Housing Lender

*photos used may come from my personal pictures or www.freedigitalphotos.net