This typically will tell us that buyers of treasuries still have the advantage but will need a little giddy up go to stay at these levels. Good time for Austin mortgage borrowers to put both hands on the wheel.
After a early morning rally due to stocks falling into the abyss, both stocks and bonds are reversing course. The stock slide was the result of earnings and lack of top line revenues by the likes of J & J and Goldman Sachs. IBM posted the same type of results, hitting bottom line earnings but with a negative revenue bias going forward.
Probability of a worsening Austin mortgage price change is gaining. Nothing huge, just volatile. As I mention late last week, borrowers should be careful as the market continues to churn on headlines from out of the blue!
Some analysts feel the homebuyer tax credits artificially boosted the housing market by pushing forward home sales that would have happened later. Others feel most buyers would have bought anyway. In any case, there's now concern about a coming drop in sales. Well, June sales figures should still benefit from activity spurred on by the tax credits. And tax credit sales should even help monthly reports through September, now that buyers in contract on April 30 have been given until September 30 to close.
Great Austin mortgage rates should be with us well into the 3rd quarter or until you see strong hands get back into stocks or the employment picture start to improve. Neither seem to be next week’s story.
Any where here, current mortgage pricing or a little better is a good place for borrowers to lock in their Austin mortgage interest rates. Any reversal in stocks will simple reverse our direction and take the market to the lower part of the range. Enjoy the historic low Austin mortgage rates.
Weaker than expected economic data and continued low inflation helped Austin mortgage rates move a little lower from last week. In recent weeks, investors have modified their consensus outlook to reflect weaker economic growth during the second half of the year.
Today we see a continuation of Wednesday’s improving bond prices. Austin mortgage pricing followed this trend, with a combined two day price improvement.
Although volume remains light, bond bulls seem to be losing their swagger. Time to get a little more defensive on the market.
High probability of a worsening Austin mortgage price change. We see the tactical bias as being defensive with conditions and chart work pointing to a more bearish outcome. Borrowers are advised to stay with this market and don’t let it put you to sleep. It could be costly.
