homes: Market Update - Lock or Float (November 8)
- 11/08/07 03:23 AM
Ok, so I am going to be extending my lock recommendation from anything within 60 days to anything with a 90 day period; lock those loans. Here is why: The bond market this morning opened slightly higher at +9/32 while Ben Bernanke didn't help the stock market out with his testimony to Congress' economic committee. The Dow is currently down by 85 points, and the Nasdaq is down by 82 points. That being said, mortgage pricing has slightly improved this morning from yesterday's. Unemployment claims were less than anticipated (325,000 expected, 317,000 filed). Even though this is good news for all of us in the … (5 comments)
homes: Market Update - Lock or Float (November 7)
- 11/07/07 04:27 AM
Well, folks, hopefully you tuned in to my blog on Friday or Monday where I suggested to lock your rates. Here is what is going on in today's market: The bond market opened this morning up 3/32 with the stocks down (Dow by 135 and Nasdaq by 30). Because of this, you are probably seeing mortgage pricing similar to yesterday evening's. The first report of the week was released today by the Labor Department. The publication revealed worker productivity increased to 4.9% during this last quarter. This is excellent news for bonds due to the fact that it is a much higher reading than anticipated. There … (0 comments)
homes: Market Update - Lock or Float (November 6)
- 11/06/07 06:27 AM
Ladies and Gentlefolk, please keep reading as I have a new updated status on whether you should lock or float today! This suggestion might cause some controversy: The bond market were negative this morning (11/32 down) after stocks had an early rise (Dow up 50 points while Nasdaq up 3 points). You are probably seeing higher mortgage prices today by about .25% of a discount point.With that said, I can firmly say that I expect a slight downward motion of the bonds over the next couple of days (especially since there aren't any major earthshattering economic news releases scheduled). So, I am going to suggest … (1 comments)
homes: Market Update - Lock or Float (November 5)
- 11/05/07 03:12 AM
Alright, folks, I hope we are prepared for the slow economic week since it was a lively roller coaster ride last week! If you haven't already looked at my weekly preview, please do that so you aren't missing that information. But, here is what is going on currently: The bond market is a little stagnant due to the fact that there aren't any reports scheduled for release today. The Dow is currently down 60 points and the Nasdaq now down about 12 points. So, we probably aren't seeing all too much difference in pricing from Friday. My suggestion to you, and you can read this … (0 comments)
homes: Market Update - Lock or Float (October 23)
- 10/23/07 04:41 AM
Ok, folks, I would definitely suggest locking all of your loans today if you haven't done so already! Here's the update: Stocks are increasing a little which continues yesterday's recovery with the Dow up about 49 points, and the Nasdaq about 20 points up. Today, the bond market is a little stagnant due to hesitation from investors and growing anticipation of this week's news releases. So, the bond market is currently down by about 2/32. You are probably going to see a similar pricing situation that you saw yesterday since there really hasn't been significant news or changes.As mentioned yesterday, the Existing … (1 comments)
homes: Market Update - Lock or Float (October 19)
- 10/19/07 06:04 AM
Currently, the bond market is 23/32 up while the Dow is down 204 points and the Nasdaq is down 37 points. With this going on, we could definitely see a good amount of improvement in today's rates; most likely about .25 discount points in our favor. No reports are scheduled for release today, as I mentioned earlier this week, but the mortgage rates will be heavily weighed by the stocks. The primary reason for the dip in the stock market is the publication of corporate revenue/earnings, apparent credit fears in investors, and the overwhelming price of oil ($90 per barrel). Quite honestly, … (1 comments)
homes: Market Update - Lock or Float (October 18)
- 10/18/07 04:51 AM
The bond market opened in positive territory this morning which continued yesterday's activity. The Dow is down just over 33 points currently, and the Nasdaq is down approx. 10 points. Mortgage rates should improve today by about .25 discount points to possibly just over that....maybe 3/8's. The Fed Beige Book was released yesterday and showed considerable decrease in economic growth in most regions of the U.S. This data is significant to the Federal Reserve during their FOMC meetings, and is a primary reason why the bond market gained momentum in the late afternoon yesterday; hinting toward yet another rate cut by the Fed … (0 comments)
Ok, so I am going to be extending my lock recommendation from anything within 60 days to anything with a 90 day period; lock those loans. Here is why:
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