News, insight and analysis from your local mortgage professional. (415) 578-9600.
Charlie Christensen NMLS #233543 Branch NMLS #1850. Licensed by the Dept. of Business Oversight under the CRMLA. Ph: 415-578-9600
Friday, December 8, 2017
Mortgage Bond prices are near unchanged (rates essentially the same) after the release of the
strong Jobs Report for November. Stocks are higher as the rally continues. The next hurdle for Mortgage Bonds and the markets comes next week
with the two-day Fed meeting. Home loan rates continue to hover just above all-time lows. I am recommending carefully floating heading into the weekend.
Stocks and Bonds are near unchanged (rates essentially the same) as the markets do not look to
place any big bets ahead of tomorrow's closely watched Jobs Report for
November. Freddie Mac reports that home loan rates edged higher this week
though they still remain just above all-time lows. I am recommending short
term locking, at least 30- days out. Longer term, floating is prudent.
Mortgage Bonds are getting a lift (lower rates) from lower Stock prices due in
part to geopolitical events. ADP reported that private sector job growth in November was in
line with expectations and comes ahead of the government Jobs Report being
released on Friday. The MBA said that home loan rates were near unchanged in the
latest week and remain just above all-time lows.
I am recommending floating for the longer-term, 30+ days. In the
short-term, locking is recommended ahead of Friday's Jobs Report.
Mortgage Bond prices are near unchanged levels (rates essentially the same), trapped in a
sideways pattern. In housing news, home prices saw strong gains in the year ended in
October fueled by low mortgage rates, a limited supply of homes for sale and a
I am recommending locking for those files that are 30 days until
Stocks are surging after the Senate passed its version of the tax
bill, which is pushing Bond prices lower (rates higher) to begin the week. There are no economic reports due for release today but the
markets are looking ahead to Friday's Jobs Report for November. With the rally in Stocks and subsequent lower Bond prices, I am
recommending locking those files that are least 30 days to closing. Have a great
Mortgage Bonds are near unchanged (rates unvarying) and off their best levels as
they continue to search for a bottom after their recent slide. Home loan rates continue to hover just above all-time lows as
reported by Freddie Mac this week.
I will continue to recommend locking as the week comes to a close. Have a great weekend!
Mortgage Bond prices are flat to slightly lower (rates are essentially unchanged)as Stocks rally on
at the expense of Bonds. Inflation remained tame in October as evidenced by the Core
Personal Consumption Expenditure (PCE). Mortgage rates continue to hover just above all-time lows. I am recommending locking
as Mortgage Bond prices are still on shaky ground.
Strong economic growth coupled with unfriendly Bond words from Fed
Chair Yellen are pushing Bond prices lower (rates higher) this morning. In housing news, Pending Home Sales surged in October,
concentrated in the South, after the hurricanes limited activity in September. The Mortgage Bankers Association reports that mortgage rates were
unchanged in the latest week and remain historically low. I am recommending locking.
Despite higher Stock prices, Mortgage Bonds are slightly higher (rates are slightly lower) and are also showing resilience in the face of a strong housing report. The Case-Shiller 20-City Home Price Index rose 6.2% year-over-year
in September, above the previous reading in August. Low mortgage rates continue
to buoy the housing market.
I am recommending carefully floating as I closely watch the action
unfold during the day.
Home loan rates end the week just above all-time lows which
continues to help boost the housing market. There are no economic reports in this holiday shortened trading
session. I am recommending locking in the short-term, 30 days or less.
Longer-term floating is prudent.
Mortgage Bond prices are modestly higher (interest rates lower) being capped by rising
Stock prices. In housing news, Existing Home Sales in October rose more than
expected. However, a shortage of homes for sales continues to push prices
higher. I am recommending locking
those files that are closing in 30 days or less. Longer-term floating is
Mortgage Bonds begin the holiday-shortened week modestly lower (higher interest rates) as prices continue to trade just below a key technical level.
There were no economic reports today in this holiday shortened week. The markets are closed on Thursday for Thanksgiving and the Bond markets will close early on Friday at 2:00 p.m. ET while Stocks close at 1:00 p.m. ET.
I am recommending locking in the short-term, 30 days or less. Longer-term floating is prudent.
Lower Stock prices are boosting the Bond markets (lower rates) this morning as
the seesaw trading pattern continues between the two asset classes. October Housing Starts surged from September and hit their best
level in a year. Weather disruptions in September fueled the big gains in
October. I am recommending carefully
floating for new files 30+ days to close. Enjoy your weekend!