maryland mortgages: Should I float? Should I lock? - Daily Update for Friday, March 28, 2008 - 03/28/08 12:44 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 - Personal Consumption Expenditures - came in exactly at expectations.  This definitely shows inflation is currently in check.  The bigger news of the day is personal income rising more than expected yet spending staying under control. 
Technically speaking - the FNMA 5.5% 30 year bond has broken back below the 50 day moving average.  Unless it can come back above this … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Thursday, March 27, 2008 - 03/27/08 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.
Auto Sales came under what was expected - should be good news; Jobless Claims were slightly more than expected - more good news; GDP came in at expectations - ambivalent news; the update to last weeks Jobless Claims showed an improvement - bad news.  All this results in bad news for bonds. 
Technically speaking - the FNMA 5.5% 30 year bond has appeared to fall below the 50 … (3 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Tuesday, March 25, 2008 - 03/25/08 02:14 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.
Stocks rising on shareholders realizing their investment is worth more and demanding more - oh my.  That's what happened yesterday with Bear Stearn's shareholders saying enough is enough.  This "vote of confidence" shored up stocks yesterday and beat down bonds.  The existing home sales coming out yesterday came in higher yesterday indicating that not all the general public believe the media in their gloom and doom … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Monday, March 24, 2008 - 03/24/08 12:46 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.
A few news bits out early this week, look for the big news item on Friday with the important Personal Consumption Expenditures.  Early trading on Wall Street is pointing to a big opening.  Therefore look for bonds to tumble.   
Technically speaking - the FNMA 5.5% 30 year bond is still caught in the tight trading range.  It's current level appear to have a strong level of support.  Being able … (1 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Friday, March 21, 2008 - 03/21/08 03:02 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.
Both stock market and bond market are closed today for the holiday.   
Technically speaking - the FNMA 5.5% 30 year bond is caught in a tight trading range (at least as historic ranges go). Unfortunately, the last time in this range, the bond fell more than 350 bps.  Bonds are also seen to be in an overbought range.
With all this - I would still recommend one … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Thursday, March 20, 2008 - 03/20/08 01:19 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.
Good News yesterday.  The government oversight of Fannie Mae and Freddie Mac was lifted slightly.  Because of all the troubles that Fannie and Freddie accountants seemed to have with numbers (I imagine it wasn't their fault), government regulators insisted that the two companies have an excess 30% in cash on their books to cover accounting irregularities.  This was relaxed by 10% yesterday.  While 10% doesn't … (1 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Wednesday, March 19, 2008 - 03/19/08 01:02 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.
.75% decrease! Wow.  Who would of thought that the Fed would be dropping the target interest rates all the way down to 2.25%, i.e. the Prime Lending Rate is now 5.25%.  The stock market went on a bender yesterday rising up 400+ points and as a result the bond market gave back 2/3's of its gains from the previous day. 
No scheduled economic reports are … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Tuesday, March 18, 2008 - 03/18/08 01:06 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.
It's official - let confusion reign.  Housing starts actually went up last month!  The Producer Price Index held steady but the Core PPI (strips away the 'volatile' food and energy numbers) was almost double the expected percentage.  This coupled with the expected reduction in the Prime today is going to lead to a swell in the stock market and a loss in the bond market
Technically … (3 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Monday, March 17, 2008 - 03/17/08 01:42 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.
Surprise and rare move by the Fed last night.  The Fed lowered the discount lending rate to 3.25%.  This tells us two things - 1) The Fed is attempting to show they are on top of the situation (personally I think they are behind the 8 ball), & 2) this guarantees a cut of at least .5% at tomorrow's meeting (though pundits are predicting 3/4% … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Thursday, March 13, 2008 - 03/13/08 01:02 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.
WOW!  The good/bad news is that Retail Sales fell through the floor.  Instead of coming in at the expected level of a 0.2% increase, there was a drop of 0.2%.  Mortgage backed securities should be having a field day.  Instead they appear to have given up 2/3 of what they gained yesterday.
Update - It appears the reason for the drop in bonds is precipitated by … (1 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Wednesday, March 12, 2008 - 03/12/08 01:42 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 Federal Reserve injecting the load of cash to the banking system yesterday delighted both the stock and bond markets.  Stocks rose 400 points and bonds held steady (this is good news since bonds normally act in an inverse relationship to stocks).  Regularly scheduled reports will come out again tomorrow with Retail Sales being reported and then the consumer price index on Friday.
Technically speaking - … (0 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Tuesday, March 11, 2008 - 03/11/08 01:09 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.
No big news due out today.  The Federal Reserve is attempting to promote liquidity in the market place by lending more money to banks and other financial institutions.  Unfortunately, it's all a waiting game and seeing how everyone will react (or who blinks first).
Technically speaking - the FNMA 5.5% 30 year bond gained little ground yesterday.  It bumped up against the 10 day moving average … (3 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Monday, March 10, 2008 - 03/10/08 01:40 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 Jobs Report that came out Friday - the worst in 5 years - had various markets worried.  But as they say with the attention span of your average American only being a few minutes, the span of the investor isn't much longer.  Though there are continued fears of the Fed cutting rates further (weaker dollar, expensive oil, worsening bonds), the stock market is taking … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Friday, March 7, 2008 - 03/06/08 11:45 PM
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.
Oh I feel like such a Scrooge! A really bad Jobs Report this morning which (you guessed it) is AWESOME for bonds.  Yet, the unemployment rate fell by 0.2% - lower than analysts expected (not necessarily good news).  Hourly earnings and the average work week both held steady.
What does all this mean?  A chance for bonds (mortgage rates) to rally back from the brink.
Technically speaking … (3 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Thursday, March 6, 2008 - 03/06/08 03:49 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.
Jobless Claims came in lower than expected this morning.  The is not setting up a good precedent for Payrolls or Unemployment number for tomorrow. 
Technically speaking - the FNMA 5.5% 30 year bond sank below the 200 day moving averages yesterday.  This morning the bond sank almost 50 bps before rebounding back up to the 200 day mark.  If the bond cannot stay above this … (1 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Wednesday, March 5, 2008 - 03/05/08 01:36 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 Productivity report showed a slight improvement today.  The Service Index which started a big move last month was also up today. 
Technically speaking - the FNMA 5.5% 30 year bond sank below the 100 day moving averages yesterday.  After briefly reaching up to the 100 day moving average it has again fallen.  With Jobless Claims tomorrow and Unemployment and non-Farm payrolls on Friday, another … (4 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Tuesday, March 4, 2008 - 03/04/08 12:45 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 week will be on Friday.  Though nothing is scheduled today, Mr. Bernanke spoke to the Independent Community Bankers of America about "Reducing Preventable Mortgage Foreclosures." His remarks caused the bond market to calm a bit.  Big news for the day is the stock market tanking.
Technically speaking - the FNMA 5.5% 30 year bond sank below the 25 and 50 day moving averages … (1 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Monday, Mrch 3, 2008 - 03/03/08 01:18 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.
Only economic report out today is the Manufacturing Index Report.   This tells how manufacturing executives see the state of their sector.  The report came in slightly better than expected, but still signalling a contraction in manufacturing.
Technically speaking - the FNMA 5.5% 30 year bond has popped above all moving averages on Friday.  This morning the bond has dropped below the 25 day and 10 day moving … (2 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Friday, February 29, 2008 - 02/29/08 02:05 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.
A whole slew of reports this morning.  Personal Income and Spending both came in higher.  A key inflation report showed an increase of 0.3% on a monthly basis and an increase of the Year to Year inflation.  Both of these could cause the Fed to give pause at their next meeting 2 weeks hence.  Lastly. a major report indicating business opinions on the state of the … (2 comments)

maryland mortgages: Should I float? Should I lock? - Daily Update for Thursday, February 28, 2008 - 02/27/08 11:53 PM
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.
More good news (at least from a rate perspective).  Gross Domestic Product came in lower than expected (good) & Jobless claims came in higher than expected (good).  Both sets of data support the idea of a downturn of the economy. 
Technically speaking - the FNMA 5.5% 30 year bond has broken through the 100 day moving average with a vengeance.  If it stays above this … (0 comments)

 

Matthew Rosov

Certified Mortgage Planning Specialist

Laurel, MD

More about me…

Amerisave Mortgage Corporation

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

Office: 8669(707) 283-6840

Mobile: (301) 536-2875

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