School district calendars for Austin, Bastrop, Del Valle, Dripping Springs, Eanes, Georgetown, Hays, Hutto, Lago Vista, Lake Travis, Leander, Liberty Hill, Lockhart, Luling, Manor, Marble Falls, Pflugerville, Round Rock, San Marcos, Taylor, and Wimberley! Click the links to open PDF calendars for Austin area school districts 2010-2011.
Freddie Mac's weekly survey showed Austin mortgage rates staying at record low levels for conforming loans. But demand for purchase loans has dropped after the tax credit expiration, according to the Mortgage Bankers Association.
Given the auction paper to digest and the soft economic background, we expect the market to trade in a small range with a bullish bias, allowing for Austin mortgage pricing to be slightly better or worse from today’s levels over the next week or so.
Price action post auction has not done anything to help Austin mortgage pricing. Sell side orders are still on the heavy side with MBS still off 15/32’s. As I mentioned earlier, we don’t see this as a major trend change or a sentiment shift towards the bears.
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Stocks visiting good support and bouncing have added pressure to the fixed income complex as well. Bigger picture does not support a move to higher Austin interest rates, just one that adjusts value to a more neutral level.
In this market, best bet for Austin mortgage borrowers is to take advantage of the historic low levels of Austin mortgage rates
Yesterday, post-release we saw a quick spike in our market (rally) and then the market backed off. FOMC made the statement to reinvest payments from MBS/Treasury into Treasury purchases, continuing to accommodate low interest rates.
What we do know is that the bond market is anticipating additional accommodation via treasury/MBS purchases or others forms of stimulus. We may, in fact, have gotten a little ahead of ourselves (Austin interest rates too good) so be careful.
With that in mind and the fact we’re trading at or near historic low yields, best bet is for Austin borrowers to lock in today’s great Austin mortgage rates and move on down the road.
