If you are looking for a Mortgage Professional who will give you the type of service that you deserve, contact Bob Amato (NMLS # 8632) and Empire Home Mortgage Inc. (NMLS # 44882). We answer our phones seven days a week until 9PM. Put us to the test! Our toll free number is (866) 742-5227.
Visit our website, www.empirehomemortgageinc.com . There you can get answers to all of your financing questions, view rates and search for foreclosed properties.
If you are considering locking in an interest rate for a New York mortgage or a Florida mortgage, read this post.
Friday’s bond market opened up slightly due mostly to weakness in stocks. The Dow was down 94 points while the Nasdaq has fallen 22 points. The bond market is currently up 2/32, which may improve this morning’s mortgage rates slightly. The change, is present in your pricing, would be minor.
There is no relevant economic data or related events scheduled for today. Therefore, look for the bond market to fluctuate with stock prices the rest of the day. If the major stock indexes rebound from current levels, bond prices may move lower and slightly higher mortgage rates could in store for this afternoon. However, if they extend this morning’s losses, bonds should benefit, as should mortgage rates.
Next week is moderately busy with a handful of economic reports scheduled for release. None of them are due Monday, so expect the same of today’s activity (bonds and rates driven by stock trading). The first data comes Tuesday morning, but it is arguably the least important report of the week. There are a couple of releases scheduled that due carry some significance, but they start the middle part of the week.
In addition to the economic reports, next week has two Treasury auctions that may influence bond trading enough to affect mortgage pricing. It is also somewhat of a holiday-shortened week with an early close Friday ahead of the Memorial Day weekend. Look for more details on next week’s events in Sunday’s weekly preview.
If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
Empire Home Mortgage Inc. is a regoistered Mortgage Broker withe the NYS and Florida Banking Depts and our loans are arranged through third party providers.
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