Derek McClintock's Blog

A tough day for the MBS market yesterday; at one point at mid-afternoon the 30 yr MBS price was down 34 bp frm 9:30. Mortgage markets opened strong but lost ground rapidly when the stock market moved higher to close +175 on the DJIA; in two sessions the DJIA gained 291 points and more than recove...

Treasuries and mortgage markets opened better this morning with early trade in stock index futures about unchanged frm yesterday’s close. At 9:00 the 10 yr note rate at 1.86% down 3 bp frm yesterday and 30 yr MBSs +12 bp. At 8:30 January durable goods orders were expected down 4.0%, as reported o...

After weeks of little volatility in stock and bond markets yesterday markets experienced a dose of activity. Early yesterday morning the DJIA opened better and interest rate markets were weaker, 30 yr MBSs at 9:30 were -18 bp. At the end of the day the stock market took a huge hit and interest ra...

Last Week's Mortgage Rates RecapAs was forecasted,  last week rates and rebates remained relatively stable, with slight variation through the week.  Even the release of the FOMC meeting minutes from 1/30/13 on Wednesday didn't cause much of a stir.  There were no surprises to cause rates to move ...

Some limited early volatility this morning; the 10 yr at 7:30 -4/32 at 1.99% +2 bp, stock indexes stronger. By 9:00 the 10 yr back to unchanged as were the MBS prices; the DJIA at 9:00 falling back frm earlier levels but still showing improvement. At 9:30 the DJIA opened +61, NASDAQ +20, S&P +7; ...

Yesterday the 10 yr note and MBSs rallied after the FOMC minutes, driven by the Fed still willing to keep buying treasuries and mortgages for the time being. The stock market got hit hard yesterday afternoon, also after the FOMC minutes were released. The DJIA saw its biggest loss in weeks as did...

Rate markets opened weaker this morning with the 10 yr note at 2.05% at 9:00; 30 yr MBSs down 6 bp, not much. At 8:30 Jan housing starts were down 8.5% against estimates of -4.2%, more than thought but most of the excess decline from estimates was due to a decline in multi-family starts. Single f...

Some Interesting Patterns to Watch Atlas Van Lines, a nationwide moving company, put together an interesting graphic on where people are moving from and moving to.  Click the image to check out the full infographic, it's a quick read with great info. http://www.atlasvanlines.com/infographics/2012...

Last Week's Mortage Rates RecapLast week saw rates increase slightly as we dipped below the Support level of 103.25 which then became a new Resistance level for rate improvement. We have been trying to advise consumers to lock in these rates, and last week's rate performance shows why.This Week's...

If you are looking for a Mortgage Banker in Chula Vista, CA or in the surrounding areas near San Diego for any mortgage need, please give Derek a call. Derek McClintock is a Senior Mortgage Banker with The Lending Company, Inc. and services San Diego, CA and all of California. Derek has been a Mo...