Lock em If you got em!

By
Mortgage and Lending with Finance Of America NMLS #311662

If you have clients floating, waiting for a better rate they may be disappointed. Mortgage Bonds are drifting lower so far today as prices remain in a wide sideways range with little impetus to move meaningfully higher.   

Standard & Poor’s (S&P) is making some positive predictions within its recently published 2014 US Housing and Residential Mortgage Finance outlook.  They see just a 15% - 20% risk of a recession, continued declines in negative home equity rates and a 6% increase in the S&P Case Shiller 20-City Home Price Index. 6% is healthy and in line with more historical rates of appreciation.  

Fed speakers will be around the country today - Fed Chairman Ben Bernanke will be in Philadelphia, PA to take part in "Chairman Bernanke Presentation" (2:30pm ET). Fed Governor Stein will also be in Philadelphia, moderating a panel on "Shadow Banking" (10:15am) while Philly's Plosser discusses "The Global Economy and Economic Institutions: Transitioning From a Low Interest Rate Environment" (12:45) at the same conference. Elsewhere in Baltimore, Richmond Fed president Jeffrey Lacker speaks at 1:30 PM.

For the first time in six years, Stocks weren't able to close higher on the first trading day of the year.  They are trying to rebound this morning, but after the S&P rose 30% in 2013, it is reasonable to see a pause in prices.    

 

Even though prices are just above support, clients should consider locking.  At the moment, the downtrend in Bonds is overpowering and prices have not been able to make any substantial gains.

Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

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mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

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Topic:
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