Tag Archive
How Long Are You Going To Put Off Locking Your Mortgage Loan?
After a huge and swift sell off in the mortgage bond market (click image to enlarge) since November 5th, 2010 that has led to an increases in interest rates, many in the mortgage business and real estate world are left scratching their heads (including myself). Both treasury and mortgage markets are overdue for some retracement (improvement in rates) as [...]
Who Released the Cracken on Mortgage Backed Securities Today?
Zeus Has Unleashed the Cracken on MBS I know, cheesy headline but c’mon. Look at the chart above. See that last big Red Bar on the right? That represents the price drop in the 4.5 FNMA Mortgage Coupon. Too technical? Just know that if a price of a bond goes down, the yield or interest [...]
What’s Ahead for Mortgage Rates March, 22nd 2010
Jump to Summary Last Week; by the end of the week mortgage rates were unchanged from the previous Friday. The bellwether 10 yr note also essentially unchanged at 3.69% -1 BP. Short term rates however increased last week, somewhat preparing for the Fed withdrawing from the quantative easing programs initiated when the economic recession began; [...]
Hear the FED Speak Today?… Here it is, in Plain Enlish
Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent. In its statement, the Fed confirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period”. Fed Chairman Ben S. Bernanke is trying to determine how long to [...]
What’s Ahead for Mortgage Rates March 15th, 2010
Last Week; after all the chopping around the longer end of the yield curve ended generally unchanged, mortgage rates and prices were unchanged. At the middle and short end of the yield curve rates increased, the 5 yr treasury increased to 2.41% up 7 basis points, the 2 yr note jumped 6 basis points to [...]
FED Pulls Out in 37 Days: You Need to get Your Butt in Gear!
Remember all the writing I did in the past year about how the Federal Government has been artificially propping up the mortgage markets and keeping interest rates low? It is all coming to an end … in 37 days! *HINT* If you click the graph at left, it will open a new window so you [...]
What’s Ahead for Mortgage Rates February, 22 2010
Note the Red columns for 2009. In December 2009, a record low 23 thousand new homes were sold (NSA); this ties the previous record low set in December 1966. Sales in December 2008 were at 26 thousand. Last Week; interest rates spiked on continued better economic data and an increase in the producer price index. [...]
Fed Raises Discount Rate: Mortgages Past the Tipping Point?
Mortgage rates will rise in response to yesterday’s Fed action. If you’re in the process of shopping for a mortgage or buying a home, the longer you wait to commit, the higher your mortgage rate will likely be. Call or // send me an email and I will send you a rate quote based on [...]
A Simple Explanation Of The Federal Reserve Statement (January 27, 2010 Edition)
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy âhas continued to strengthenâ, that the jobs markets is getting better, and that financial markets are supportive of growth.
A Rate-Locking Strategy Ahead Of The Fed’s Meeting Today
The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It’s the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. Here is a rate-locking strategy for you.
