Mortgage Market Snapshot 01.23.15

Mortgage and Lending with US Mortgages - David Shamansky NMLS#392126

usmortgages fha rates decrease

What else but another mixed bag of news to end the week on and why I call for rates to likely remain sideways for a little bit longer.

Issues abroad, as well as reduced demand for manufacturing Canada introducing their own stimulus and Russia with a bunch of issues are all making the US bonds look like the safe bet and why demand is high and rates saw improvement.

Not a purveyor of doom by any means but with financial issues across the globe and not isolated to the US it makes you wonder where is all this going doesn't it? If not it should.

Anyway here is the data driving today's slight improvement to bonds.

The FNMA 3.0 coupon is currently up 25bps and likely will close today close to its current levels keeping rates nice and low and in line with current pricing.

Treasuries got a boost yesterday as the European Central Bank (ECB) President Mario Draghi announced that the ECB will launch a new quantitativ easing program in March of this year. The QE program will include monthly asset purchases of $60 Billion and will continue through September 2016 for a total purchase of $1.14 trillion Euros ($1.28 trillion). The Euro has been in decline for the past six months, it ended 2014 down -12% vs. the dollar for the biggest loss since 2005 and has extended those losses into 2015. In reaction to the news we have seen a sharp move lower in the Euro, a spike in volatility, and a small rise in European stocks. The Stoxx Europe 600 Index added +1.9% and the Euro weakened to an 11-Year low. Eurozone bond yields declined on the news including bond yields in: Germany, France, Italy and Spain. German 10-Year debt declined -8 bps to 0.45%, the French 10-Year note dropped -9 bps to 0.62%, Italy’s 10-Year yield fell to 1.556 (lowest since 1993), and the Spanish 10-Year yields declined to a record low at 1.397%. US treasuries got a boost with the 10-Year note up +20 ticks. With negative interest rates in Russia and Germany, negative MoM inflation in the Eurozone, and the recent plunge in the Canadian dollar we are seeing a sustained bid for quality US debt.

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Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
Equal Housing Lender

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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Thanks for the mortgage snaphot David. I appreciate it. Hope you have a GREAT weekend. D 

Jan 23, 2015 02:33 AM #1
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi David - Thanks for the update. Your insight is always valuable and we rely on it to keep our clients informed.

Jan 23, 2015 04:43 AM #2
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, David...You have the best reports. Thanks for sharing. I wish you were going to be going to Westcliffe for our meetup. I would love to meet you. Sorry I couldn't make the one you hosted. 

Jan 23, 2015 02:02 PM #3
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning David. Another excellent report, you read the market very well. Always great to read info shared by someone that knows what the hell they are talking about.

Make it a great weekend!

Jan 23, 2015 11:39 PM #4
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing the Market Snapshot.

Have a wonderful weekend.

Jan 23, 2015 11:54 PM #5
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

You have such a good handle on what is happening in the financial markets and I love your predictions.

Jan 24, 2015 12:38 AM #6
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello David,  You have a great handle on things and what could happen.  You are the man!

Jan 24, 2015 12:59 AM #7
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

David, thanks for the mortgage update, and hope that all translates into more stable interest rates!  

Jan 24, 2015 08:29 AM #8
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

The drastic drop in the Euro hit me hard since I get a retirement check from Germany each month!

Jan 25, 2015 05:22 AM #9
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David Shamansky

Creative, Aggressive & 560 FICO - OK, Colorado Mtg
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