Mortgage Market Snapshot 12.09.15

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

Today was a little messy. Rates lost all ground gained on Tuesday and the suspect reason in my opinion is profit takers as the data does not support the direction the market went.

Anyway as I often say the market will do what the market will do and even when it is in direct contradiction to data but eventually it regains its wisdom and follows the proper course.

This kind of lackluster data is potential benefit for Yellen to hold off (as I still predict) for raising rates this month but time will tell.

Here is today's data

MBA Mortgage Applications rose 1.20% last week following two consecutive weekly declines of 0.20% and 3.20% (+12.50% YoY). Purchases were unchanged following the prior week’s 7.70% advance (+28.60% YoY), Refinancing rose 3.50% following a 6.00% decline prior (+3.40% YoY), and the average interest rate for a Conventional 30-Year Conforming loan rose 2 bps to 4.140%. Wholesale Inventories fell 0.10% in October (consensus +0.20%) with a downward revision in September from 0.50% to 0.20%. Inventories of durable goods, such as autos and machinery, fell 0.10% following a 0.60% decline prior. Wholesale sales were flat in October (consensus 0.20%), following a rise of 0.50% in September. Treasuries are lower this morning despite the disappointing Wholesale data release and the curve has steepened

us mortgage colorados 580 FICO lender and local to Denver

Posted by

araward

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
720-524-8020
NMLS#392126
Equal Housing Lender

*photos used may come from my personal pictures or www.freedigitalphotos.net

 

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Anna Banana Kruchten Broker, CRB, CRS
HomeSmart Real Estate BR030809000 - Phoenix, AZ
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David.....why am I not surprised......somebody wants fed rate to stay the same.

Dec 09, 2015 09:41 AM #1
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
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Good morning David. Every time I think I have it figured out, I'm no longer sure.

Dec 09, 2015 07:31 PM #2
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