Derek McClintock's Blog

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Mortgage and Lending - C2 Financial - NMLS# 331867

ARCHIVED BLOG POSTS

2013 

A trio of data points at 8:30 this morning. Weekly jobless claims were up more than expected but not much more, estimates were for 350K as reported claims were up to 368K up 38K on the week. Recent claims data has been somewhat confusing due to technical factors and how the calendar effected clai...
01/31/2013
Prior to the first data point this morning; at 8:00 am the 10 yr note yield was at 2.02%. At 8:15 ADP reported private jobs increased 192K, 20K more than the consensus estimates; ADP revised its Dec jobs from +215K to 185K. According to the release service sector jobs accounted for 177K of the in...
01/30/2013
The bond and mortgagee markets started slightly weaker this morning after the strong selling yesterday morning. Yesterday morning prices tumbled and interest rates increased on very strong Dec durable goods orders; the 10 yr climbed to 2.00% with 30 yr MBS prices off 44 bp in the morning. The aft...
01/29/2013
At 8:45 this morning the 10 yr note it 2.00%, up another 5 bp frm Friday; at 8:45 the 30 yr FNMA 3.0 coupon was -37 bp frm Friday’s close. The treasury and mortgage markets have been bearish for all of January, the move to higher rates had been volatile. After the 10 yr yield climbed to 1.97% on ...
01/28/2013
We are a purchase focused company with excellent turn times!  We also are amazing at refinancing your home loan and keep our refinances under 30 days (unlike the bigger lenders / banks).  We are able to offer basically all loan programs available in today's mortgage market. We are a Direct Lender...
01/27/2013
In what we have been describing as a bear market in bond and mortgage markets, today there is strong selling taking the 10 yr note yield to 1.92% at one point about 8:45 this morning and MBS prices down as much as 40 basis points from yesterday’s 25 bp sell-off. As of 9:00 this morning 20 yr 3.0 ...
01/25/2013
Even for us locals (and natives), sometimes we forget how much there really is to do in San Diego.  Thank you so much for the reminder, especially Lake Murray because I drive by it weekly, but never take the time to stop and experience it.  Adding that to the to-do-list right now. If you haven't ...
01/24/2013
Generally quiet early this morning, prior to 8:30 the 10 yr note yield was down 1 bp to 1.82% and 30 yr MBSs +3 bp frm yesterday’s close. At 8:30 weekly jobless claims were better than expected, estimates were for an increase of 25K to 365K after the 37K decline last week; as reported claims drop...
01/24/2013
Rate markets started slightly better this morning with the 10 yr at 1.82% down 2 bp at 8:30; 30 yr MBSs at 8:30 +6 bp frm yesterday’s flat market. US stock indexes early this morning unchanged prior to the 9:30 open. Not much data today; the day’s focus is on the House where there is expected to ...
01/23/2013
Congress gets back to business with the House Republicans offering a bill to increase the debt ceiling for four months. The Republican-led House of Representatives announced plans to vote on a bill as soon as tomorrow to temporarily suspend the U.S. debt limit until May 19. The extension is suppo...
01/22/2013
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