san diego mortgage rates: Mortgage Market Snapshot & Rate Lock Advice for Tuesday 4-27-2010 - 04/27/10 04:51 AM
Update: The concerns over Greece and other European nations just won't go away . . Standard & Poors downgraded Greece's debt rating to junk and that is sinking stocks and causing a major rally in bonds. Not good for the world economic picture but very good for interest rates . . FLOAT
Here is today's Market Snapshot from RateAlert.com:
Treasuries and mortgages opened strong this morning as the debt concerns spread in Europe. It is Greece leading the problem but as each day passes with nothing accomplished the contagion is spreading to include Portugal, Spain and likely will include Ireland in … (1 comments)

san diego mortgage 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March durable goods orders were much lower than expected on the overall at -1.3% against +0.4%, when auto sales are withdrawn orders jumped 2.8% against forecasts of an increase of 0.6%.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)

san diego mortgage 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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san diego mortgage 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)

san diego mortgage rates: Mortgage Market Snapshot & Rate Lock Advice for Tuesday 4-20-2010 - 04/20/10 04:49 AM
Update - MBS Market starting to sell off in mid-day trading again today.  Alert to LOCK!
Here is today's Mortgage Market Snapshop from RateAlert.com:
Treasuries and mortgages opened soft this morning but by 9:00 the 10 yr and mortgage prices climbed back to unchanged. There is no economic data to deal with today, most of the chatter remains about G/S and the SEC fraud charges filed against them. This morning comments from G/S legal counsel. "We would never intentionally mislead anyone, certainly not our clients or our counterparties," Goldman Sachs Co- General Counsel Greg Palm said today on a conference call with … (0 comments)

san diego mortgage rates: Mortagage Market Snapshot & Rate Lock advice for Monday 4-19-2010 - 04/19/10 05:03 AM
Update - Last week was a good week for shoppers of San Diego mortgage rates, California mortgage rates and mortgage rates all over.  Friday's news of the Goldman Sachs indicment sent investors running for the safety of bonds.  The bond market continues to perform well this morning but we are off the highs of the day and up against some tough resistance.  Floating very carefully for now but with a quick finger on the lock trigger.
Here is today's market snapshot from RateAlert.com:
Friday the bond and mortgage markets were driven lower in yields on the announcement from the SEC that … (0 comments)

san diego mortgage rates: Goldman Sachs Charged by the SEC for Fraud Involving Mortgage Securities - 04/16/10 09:41 AM
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san diego mortgage rates: Mortgage Market Snapshot & Rate Lock Advice for Friday 4-16-2010 - 04/16/10 05:32 AM
Update - The MBS Market is presently having a nice rally predicated by the breaking news that the SEC is charging Goldman Sachs with fraud in relation to subprime mortgages.  Our benchmark FNMA 4.5% coupon is currently up 28 bps and has broken resistance of the 25 day moving average - lenders will be re-pricing for the better soon so we are in FLOAT mode for now.
Here is today's Mortgage Market Snapshot from RateAlert.com:

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san diego mortgage rates: Mortgage Market Snapshot & Rate Lock Advice for Thursday 4-15-2010 - 04/15/10 05:29 AM
Update: The MBS Market is currently positive, up 16bps.  Many lenders are re-pricing for the better.  My strategy would be to carefully wait for your lender to re-price and then lock as market conditions (as we saw yesterday) are very volatile and things could turn south quickly.
Here is today's Mortgage Market Snapshot from RateAlert.com:
Treasuries and mortgages were slightly better prior to 8:30 this morning but data at 8:30 pulled treasuries and mortgages back to unchanged. Weekly jobless claims were substantially higher than estimates which were for a decline of 20K filings, as reported claims increased 24K to 484K, the … (0 comments)

san diego mortgage rates: Bank of America Reports a Surge in San Diego & Riverside County Foreclosures - 04/14/10 06:46 AM
"We have reported recently that we anticipate a rise in foreclosure activity through the coming months as homeowners are unable to qualify for loan modifications, fall out of modification programs or go into delinquency due to the ongoing stress in the economy," wrote Bank of America spokesman Richard Simon in an email.
The complete article:
http://www.nctimes.com/business/article_fa8b8a2a-0fc6-526a-b125-d86bec3d79c4.html
 
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san diego mortgage rates: Mortgage Market Snapshot & Rate Lock Advice for Wednesday 4-14-2010 - 04/14/10 05:17 AM
Update: A positive report on inflation has turned the MBS Market positive but the market still can't seem to break through multi layers of resistance.  We can very carefully float for the moment as if the resistance can be broken we will likely see lender price improvements.
Here is today's Mortgage Market Snapshot from RateAlert.com:

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san diego mortgage rates: What Will The Coming Week Bring For the MBS Martket & Interest Rates? - 03/28/10 12:43 PM
Last week we saw Mortgage Bonds move sharply lower and rates higher on the heels of some not so well received Treasury auctions and the Fed's impending exit from the market.
Will the coming week bring more of the same?  No auctions this week but of of course Wednesday is the big day - the last day the Fed will be Mr. Deep Pocket Buyer in the affore mentioned MBS Market.  Hard to picture bond prices moving any higher (bond prices and rates are inverse, as bond prices move lower yields, i.e. rates, must increase to attract buyers).  Probably the best we can … (0 comments)

san diego mortgage rates: Bernanke's 18 mo. MBS Buying Party Winds Down - Will the Sky Fall for Low Rates? - 03/25/10 05:55 AM
Traditional thinking to stimulate an economic recovery is to keep interest rates low.  The Federal Reserve of course takes the charge on this as they set some very key benchmark rates namely the Discount Rate and the Fed Funds Rate.  Despite what many may think, the Fed has no direct control over mortgage interest rates and in the second half of 2008 they were on the move higher.  Mortgage rates are a product of the open market as mortgages that are originated by banks are mostly securitized and sold to secondary market investors.  There was a strong lack of demand for such … (0 comments)

san diego mortgage rates: Mortgage Interest Rates and the Heathcare Reform Bill - A Connection? - 03/22/10 06:03 AM
Last night we witnessed a historic passage of the Heathcare Reform Bill in the House of Representatives by a vote of 219-212.  We have all heard opinions ad nauseam from the politicians, talk show hosts and pundits on what this means for our country but as Real Estate and Mortgage professionals we have different concerns.  We want to know what if any effect this will have on our business and specifically will this have any effect on interest rates?
Stock market traders have been watching the Heathcare debate closely, and it is certainly possible that the passage of the Bill could have a … (0 comments)

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

Steve McCoole

San Diego, CA

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