lock: Should I float? Should I lock? - Daily Update for Thursday, May 8, 2008 - 05/08/08 12:52 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Jobless Claims came out this morning slightly lower than expected.  Is this a statistical blip or is the economy improving?  Productivity increased but hours worked decreased.  Finally, labor costs increase but not as much as expected.  All of this points to unsure times ahead.
Technically speaking - the FNMA 5.5% 30 year bond is at the bottom of a tight trading range.  Depending on how the … (3 comments)

lock: Should I float? Should I lock? - Daily Update for Wednesday, May 7, 2008 - 05/07/08 01:35 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
One more day till scheduled economic news comes out - Jobless Claims.  We are still in a mode where bonds are taking directions from stocks and other rumors coming out (FNMA not doing well, oil going up resulting in higher inflation therefore bonds are going to take a hit and rates get worse, etc).  Until that time as actual news is release - hang on … (6 comments)

lock: Should I float? Should I lock? - Daily Update for Tuesday, May 6, 2008 - 05/06/08 01:17 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Big news of the day - Fannie Mae reports a bigger loss than expected and cuts its quarterly dividend.  While this isn't exactly going to roil the markets, it certainly shows the pain is not yet over.  Since there aren't any economic reports due out til Thursday (Jobless Claims), bonds will be taking direction from stocks (which in pre market trading appear to be going … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Monday, May 5, 2008 - 05/05/08 02:10 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Other than news of Microsoft not buying Yahoo for $46 billion, the only other real news is the non-manufacturers or services index came in higher than expected.  Other than a brief dip in bond prices things are back up to par and taking their lead from the stock market. 
Technically speaking - the FNMA 5.5% 30 year bond have rebounded above all moving average this … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Friday, May 2, 2008 - 05/02/08 01:48 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Unemployment has dropped - to 5.0%, Jobless claims weren't as bad as expected - still lost 10,000 jobs.  What does this mean?  Interest rates going up today.
Technically speaking - the FNMA 5.5% 30 year bond have dropped to a key level of support this morning.  While it was down as much as almost 100 bps down, the bond has rebounded back. 
With all this volatility, … (1 comments)

lock: Should I float? Should I lock? - Daily Update for Thursday, May 1, 2008 - 05/01/08 12:49 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
The Fed did it - dropped the target rate .25% to 2.00% and hinting a pause will occur.  In other news - Personal Spending, Personal Consumption, and Jobless Claims were all up, while personal income dropped.  Though this is all essentially a wash, bonds appear to be reacting favorably to the news.
Technically speaking - the FNMA 5.5% 30 year bond is now above all moving … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Tuesday, April 29, 2008 - 04/29/08 02:04 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Consumer Confidence came in lower than expected - though after Friday's report somewhat expected.  Tomorrow, The Fed will more than likely be dropping rates another .25%.  Since they are the Fed they will be privy to the reports being released Wed morning of GDP, Inflation and Employment.
Yesterday, bonds improved slightly with continued fear in the market place over concerns of a recession and what … (3 comments)

lock: Should I float? Should I lock? - Daily Update for Monday, April 28, 2008 - 04/28/08 01:10 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Consumer Confidence is on tap for tomorrow.  Wednesday, The Fed will more than likely be dropping rates again on Wednesday.  Since they are the Fed they will be privy to the reports being released Wed morning of GDP, Inflation and Employment.
Today bonds will be taking direction from stock as well as doing some guess work of their own on what Bernanke and Company will … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Friday, April 25, 2008 - 04/25/08 02:10 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Consumer Sentiment was expected to be at levels higher than last month but ended up falling to less than what it was las month.  Neither terrific nor horrific, but in an environment starved for news on where to take direction - an overall positive note for bonds.
Technically speaking - the FNMA 5.5% 30 year bond though still below the 50 & 100 day moving averages is … (2 comments)

lock: Should I float? Should I lock? - Daily Update for Thursday, April 24, 2008 - 04/24/08 01:32 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Good (Bad) News of the day - Durable Goods Orders were down 3/10% as opposed to the expected 1/10% rise.  The Bad (Good) News of the day - Jobless Claims fell 30,000 jobs.  It appears the markets are putting more credence into the 2nd bit of news.  The bond market has been open less than 1.5 hours and we are already down 50 bps.    
Technically speaking - … (1 comments)

lock: Should I float? Should I lock? - Daily Update for Wednesday, April 23, 2008 - 04/23/08 01:29 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Yesterday Existing Home Sales came in right on target which did little to sway the markets.  The moving of the bond market was the continue bearish behaviour of Wall Street.  Only scheduled reporting of the day has to do with oil inventories.  This affects the bond market very little.  
The only thing that might adversely affect the market this morning is the news that Bank of America … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Tuesday, April 22, 2008 - 04/22/08 12:48 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
We are still a day from any regular scheduled economic reports.  Therefore bonds will be taking some direction from stocks today.    
Technically speaking - the FNMA 5.5% 30 year bond bounced above the 50 day and 100 day moving average yesterday.  This morning the bond dropped down to test the 100 day moving average (currently higher than the 50 day by 13 basis points (bps).  The … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Monday, April 21, 2008 - 04/21/08 01:05 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Regularly scheduled market reports are not due out again until Wednesday.  Bonds will be taking direction from other sources.   Friday proved this out.  The day started with a significant increase in the stock market and predicable response from the bonds of opening low and staying low most of the day.  The last few hours of Friday resulted in bonds improving significantly.  This appears to have … (1 comments)

lock: Should I float? Should I lock? - Daily Update for Friday, April 18, 2008 - 04/18/08 01:04 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Talk about jittery for all the wrong reasons.  Citibank reported earnings this morning.  They had a bigger loss than expected, $13 billion in write downs, but because some revenue streams came in higher stocks across the board are way up in pre-market trading. 
Yesterday, the Fed had another auction that went quite well.  In fact, so well that bonds actually ended up yesterday.  Since there won't … (0 comments)

lock: Should I float? Should I lock? - Daily Update for Thursday, April 17, 2008 - 04/17/08 02:15 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
All the rosy news that came out yesterday was for not.  The stock market really liked it all, therefore since bonds move in the opposite direction of stocks, bonds took a major hit yesterday.  One major item coming out was the Beige book report.  This can act as a guide to how the Fed will be seeing and (re)acting at their next meeting at the … (3 comments)

lock: Should I float? Should I lock? - Daily Update for Wednesday, April 16, 2008 - 04/16/08 01:52 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Consumer Price Index came in at levels analysts expected.  Housing starts plummeted to 17 year lows while permits also fell more than expected.  While capacity utilization fell slightly, Production rose slightly. 
What does all this mean - if we are not currently in a recession, then a major slowdown is in the works.  In other words - DUH.
Technically speaking - the FNMA 5.5% 30 year … (1 comments)

lock: Should I float? Should I lock? - Daily Update for Tuesday, April 15, 2008 - 04/15/08 12:41 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Producer Price Index was released just a little bit ago.  The overall index jumped by nearly .5% while the core index (excluding food & energy) remained constant.  The NY Manufacturing survey showed a surprise jump as well.  This show increased strength in one corner of the country and a possible increase in inflation.  Both of these while balance out in the market are overall bad … (5 comments)

lock: Should I float? Should I lock? - Daily Update for Monday, April 14, 2008 - 04/14/08 12:52 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
This morning the Retail Sales report came out with a mixed bag.  All sales was actually a 1/10% higher than expected, where as the less volatile report that doesn't include auto sales was lower by 1/10%.  This couple with what appears to be a very weak start to Wall Street due to banking concerns could lead to a better start for bonds.
Technically speaking - the … (5 comments)

lock: Should I float? Should I lock? - Daily Update for Friday, April 11, 2008 - 04/11/08 02:19 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Consumer Sentiment was reported this morning coming in lower than expected.  This coupled with the negative news reported by GM is going to cause good things for rates.
Technically speaking - the FNMA 5.5% 30 year bond is currently resting on the 10 day moving average.  The news from the morning should cause the bond to rise back into a rather narrow trading range while it waits to see … (2 comments)

lock: Should I float? Should I lock? - Daily Update for Thursday, April 10, 2008 - 04/10/08 01:01 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. 
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Initial Jobless claims for last week came in lower than expected.  The trade deficit increased by 5% over the last reading - better than expected.  Though both these numbers indicate better readings than analyst expectations, they are still showing a dreary look on the economy.
Technically speaking - the FNMA 5.5% 30 year bond rose above a key support level yesterday.  Though a slight improvement is … (0 comments)

 

Matthew Rosov

Certified Mortgage Planning Specialist

Laurel, MD

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Amerisave Mortgage Corporation

Address: 6502 Walker Branch Dr, Laurel, MD, 20707

Office: 8669(707) 283-6840

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