california mortgage interest rates: Mortgage Market Snapshot & Rate Lock Advice for Friday 4-23-2010 - 04/23/10 04:40 AM
Update: Mortgage Bonds are still negative but off the lows of the day so at this point we can very carefully FLOAT.
Here is today's Market Snapshot from Rate Alert.com:
Interest rates jumped overnight and opened this morning higher with prices of mortgages down along with treasuries. At 8:30 March durable goods orders were much lower than expected on the overall at -1.3% against +0.4%, when auto sales are withdrawn orders jumped 2.8% against forecasts of an increase of 0.6%. Total orders unexpectedly dropped, depressed by a 67% plunge in demand for commercial aircraft that is often volatile.   Feb durable goods orders … (0 comments)

california mortgage interest rates: Mortgage Market Snapshot & Rate Lock Advice for Thursday 4-22-2010 - 04/22/10 04:53 AM
Update:The MBS Market has turned negative in the last half hour.  Bonds once again were turned away by the thick ceiling of resistance formed by the 50 day and 200 day moving averages.  Since there is nothing on the horizon that could be forseen to boost them over that resistance and with an upcoming announcement of next weeks Treasury auctions my advice is to LOCK as it appears we may be hitting a high point in the market.
Here is today's Market Snapshot from RateAlert.com:

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california mortgage interest rates: Mortgage Market Snapshot & Rate Lock Advice for Wednesday 4-21-2010 - 04/21/10 05:31 AM
Update:  The Mortgage Bond Market is up a bit today, testing the resistance of the 25 day moving average.  This resistance has turned the bond back everyday so far this week and with no economic reports due to be released today it is likely the same will happen.  Since we are positive, we can very carefully FLOAT watching for thing to possibly go south if the bond fails once again to break resistance.
Here is today's Market Snapshot from RateAlert.com:
Another quiet start for the markets this morning with no economic data and no news. Earnings continue to be reported and … (0 comments)

california mortgage interest rates: Goldman Sachs Charged by the SEC for Fraud Involving Mortgage Securities - 04/16/10 09:41 AM
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california mortgage interest rates: Mortgage Market Snapshot & Rate Lock Advice for Friday 4-9-2010 - 04/09/10 05:59 AM
Update: Market is showing improvement, the benchmark FNMA 4.5% coupon is up 12bps.  Some lenders may re-price for the better.  Shift to Float mode.
Here is today's Market Snapshot from RateAlert.com:
Rate markets started slightly softer today with the stock indexes aiming for a better open at 9:30. No real news overnight, and no key economic releases so the trade today will likely be focusing on the action in the stock market. At 9:30 the DJIA opened +24, 10 yr note -4/32 3.92% +1.5% and mortgage prices -4/32 (.12 bp).
There is nothing on the day's horizon that will garner any direct focus … (0 comments)

california mortgage interest rates: Mortgage Market Snapshop & Rate Lock Advice for Thursday 4-8-10 - 04/08/10 04:57 AM
Update: Market has turned negative in the past 30 minutes and an alert to lock has been issued.  If the sell off continues, lender re-pricing for the worse is likely.  Auction results due in a few minutes could change everything.
Here is the Daily Market Snapshot courtesy of RateAlert.com:
Rate markets opened flat this morning holding the nice improvements of yesterday. At 8:00 the 10 yr note +1/32, the DJIA -10 and mortgages unchanged. At 8:30 weekly jobless claims, the only data point today, expected to decline 6K were up 18K to 460K filings with continuing claims down slightly. One official saying … (1 comments)

california mortgage interest rates: MBS Market Rallying Big Time Right Now!! - 04/07/10 07:21 AM
Another solid rally in the MBS market today on the heels of a very strong 10 yr Treasury note auction. We are sitting firmly in float mode getting many reprices for the better (lower rates) from lenders . . If last week's rise in rates has made you back off from a purchase or refinance, time to step back up to the plate.
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california mortgage interest rates: Mortgage Market Snapshop & Rate Lock Advice for Wednesday 4-7-10 - 04/07/10 04:26 AM
The Mortgage Bond Market seems to be settling into a stable range after last week's turmoil from the Fed market participation exit.  It is important to note that although rates have risen, the yield spreads between MBS and the benchmarks (Treasuries) have remain the same.
Mortgage Bonds are up modestly on Stock Market losses so I will advise to very carefully float right now awaiting the results of today's Treasury auction at 1pm ET.
Here is the Mortgage Market snapshot courtesy of Rate Alert.com:
Treasuries and mortgages had a quiet night and opened slightly better this morning. Last week the 10 … (0 comments)

california mortgage interest rates: Mortgage Bond Market Snapshot for Tuesday 4-6-2010 - 04/06/10 04:17 AM
Mortgage Bonds are experiencing a classic "Dead Cat Bounce" after 5 days of heavy losses and hitting the low points of the year.  With the market improvement, we will see some slight betterment of California mortgage interest rates.  The gains have been aided by some sell offs in stocks and new concerns over Greece and European debt loads.  As such, I would start the day floating with a finger on the lock trigger and all eyes on the results of the 3 yr note auction that will be released at 1pm ET.
Here is the daily snapshot from RateAlert.com:
Starting better this morning … (0 comments)

 
Steve McCoole (Mortgage Alliance Group - San Diego, CA - NMLS#305667)

Steve McCoole

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