treasury auction: "The Mortgage Buddy" Mortgage Rate Outlook for the Week Beginning May 9th
- 05/08/11 10:31 AM
"The Mortgage Buddy" Mortgage Rate Outlook for the Week Beginning May 9th Last week saw continued pressure downwards in the mortgage rate environment. The economic data points were dominated by the jobs report on Friday. We did see a nice increase in the number of jobs created in this great country, but the unemployment rate ticked back up because of more people re-entering the work force. These people are counted as unemployed and can skew the positive news. But it's a good sign when more people come into the job force, it usually means that they have a re-newed confidence that … (0 comments)
This weeks mortgage interest rate moves are going to be driven by 2 major factors 1.Bond auctions 2.Middle East tensions On Wed and Thursday- There are longer term treasury auctions in the form of a 10yr treasury auction on Wed. and a 30yr auction on Thursday. The last 10yr auction we had a few weeks ago were meant with strong demand and were actually the catalyst that prevented the rates from moving over 5% and staying over 5%. There is anticipation that there will be more strong auctions this week. With unemployment numbers starting to trend downward, and economic … (0 comments)
treasury auction: This Weeks Mortgage Data Recap
- 02/11/11 03:52 PM
This week saw had a lot of mortgage market specific talking points Obama's Housing Plan which I will outline tomorrow morning. Lots of info to share here A very successful 10yr treasury auction Wed afternoon which stopped rates from pushing beyond their 10 month high A drop in mortgage applications from last week's data. Mortgage applications continue to track very closely with current rates. Last week I wrote about positive momentum with applications and how maybe we were starting to see some real progress only to be punched in the gut this week with a decrease in activity. It's been the up … (3 comments)
I decided to start writing this blog to be an education resource to my referral partners and my clients. We live in a new world of mortgage lending in which we need to be up to date on the changing underwriting guidlines and mortgage products offered. It's through these updates that we will all be able to provide our clients with the customer service they derserve and expect. It's my belief that this industry insight is what will take our business to the next level.
Education = Confidence
"The Mortgage Buddy" Mortgage Rate Outlook for the Week Beginning May 9th
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