A mortgage price change for the worse is right around the corner
Currently, the 10 year note is off 9/32’s (yield 3.68%) and mortgage backs are off 4/32’s. A mortgage price change for the worse is right around the corner. More in a few.
“If” the health care bill comes to a vote this week and passes, stocks could very well change their tune
“If” the health care bill comes to a vote this week and passes, stocks could very well change their tune. Bottom line here is that most markets are neutral, waiting for something to fuel a trend change.
FOMC left interest rates unchanged and did not remove the statement, “low interest rates for and extended period of time”
FOMC left Austin interest rates unchanged and did not remove the statement, “low interest rates for and extended period of time”. Treasuries and stocks have improved on the news yet mortgage backed securities are only 1/32nd better. Market looks OK but still is tough to trust. Full press release below.
Our best case is for Austin mortgage rates to hold steady so use this time to be a little defensive
As you can see, our best case is for Austin mortgage rates to hold steady so use this time to be a little defensive into the FOMC announcement.
Even though this morning’s calendar has had its fair share of data, most markets have been quite with little volatility
Even though this morning’s calendar has had its fair share of data, most markets have been quite with little volatility. Currently, the 10 year note is off 3/32’s (yield 3.72%), mortgage backs off 2/32’s, and stocks off 35 points on the big board.
Austin Mortgage Market Update – For the week of March 15, 2010
There wasn't a ton of housing news last week, but one can always find a few significant items. For example, foreclosure filings in February were down 2% from January and up just 6% from a year ago -- their smallest increase in four years. Most significantly, in the six states that made up 61% of the national total for February, foreclosure filings were down 15% from a year ago. We're definitely heading in the right direction.
Best advice is to use any rally to lock your interest rate in!
With so many variables to consider - employment, sovereign debt, political rang lings’, and on and on - managing interest rate risk and helping our borrowers with their decisions on Austin mortgage rates is very hard to handicap. Best advice is to use any rally to lock your interest rate in!
Quiet Week for Austin Mortgage Markets
During a very light week for economic news, the economic data and Treasury auctions contained few surprises and produced little reaction in mortgage markets. Austin mortgage rates ended the week nearly unchanged.
Best to take advantage of current mortgage pricing with such low odds of improvement in the cards
Best to take advantage of current mortgage pricing with such low odds of improvement in the cards. Currently, we’re trading 3.73% with the extremes at 4.62% and 2.0%. Lots of room to run (either way) as the economic picture changes.
Business Economists See Fed Rate Hike in 6 Months
Most U.S. business economists expect the Federal Reserve to raise benchmark interest rates within six months by between a quarter and a half percentage point, according to a survey released on Monday.