July 30th Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 30th, 2009
If the market was an ocean, investors would be puking over the sides of their boats by now. The motion is contstant—up, then down, then back up–and unpredictible. Mortgage backed securities (MBS) once again started out with gains in the early hours only to be shut down unable to hold onto early morning gains.
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StumbleUponJuly 29th Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 29th, 2009
After opening ugly yesterday morning, mortgage backed securities (MBS) bounced back and some lenders did reprice for the better by day’s end. The stock market is still the leading indicator for future interest rate fluctuations as lower stocks get investors running for cover to safer assets like benchmark Treasuries. This is good for MBS prices–higher prices mean that lenders can offer lower mortgage rates.
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Mortgage Rates Rise for Week of July 27
By: Liz Freeman
July 27th, 2009
Mortgage rates continued to rise during the week of August 3, with rates for a 30 year and 15 year fixed rate mortgage loans rising slightly. Rates for a 5/1 ARM remain below 5 percent, although they also increased.
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July 24th Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 24th, 2009
After a strong showing earlier this week, , mortgage backed securities (MBS) prices dropped like rocks yesterday. And lenders who had opened with nice low rates were forced to reprice for the worse often several times throughout the day as it became clear the trend wasn’t going to reverse itself. So mortgage rates moved higher–to a par 30-year fixed rate of 5.25% up from 4.875% the day before. And the market is not bouncing back today so far; this morning MBS yields are increasing almost as much again as yesterday.
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July 23rd Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 23rd, 2009
Stocks moved sharply higher today based on nothing rational. According to analysts at Mortgage News Daily, investors have bounced from an “oh crap it’s going to get worse” mentality, to “wait and see” and then unexpected optimism, despite continuing reports of stagnant economic output, weak consumer spending, and a projected increase in the mortgage debacle when the commerical real estate bust (just beginning) achieves full swing?
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July 22nd Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 21st, 2009
Fun with the Fed–Chairman Bernanke’s testimony pulls markets. After a slow start, fixed-income investments became increasingly popular and stocks looked a lot less pretty. Mr. Bernanke cranked out details on the Fed’s expectations for a S L O W economic recovery. The Chairman implied that the economy is hitting bottom but that getting off the floor is going to be more of a slow stagger than a somersault and a bounce. It will likely take longer than the optimists have been asserting. At this point, mortgage-backed securities (MBS) and treasuries burned rubber and didn’t look back.
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Mortgage Rates Fall for Week of July 20
By: Liz Freeman
July 20th, 2009
Mortgage rates fell across the board last week. With rates hovering near the five percent mark, homeowners who’ve been sitting on the fence may want to shop mortgage loans or refinance options now.
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July 16th Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 16th, 2009
Equities are on a roll, and mortgage-backed securities (MBS) and bond markets are truly feeling the effect–mortgage rate (albeit slightly) for yet another consecutive day. JP Morgan reported earnings this morning and they exceeded expectations–by over 500%. Analysts had anticipated 5 cents per share earnings but they reported 2nd quarter earnings of 28 cents per share or $2.7 billion. After the much better than expected earnings from Goldman Sachs earlier this week, many hoped for similar results from JP Morgan–and they got them. /strong>
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July 15th Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 15th, 2009
Mortgage backed securities (MBS) got another beat down yesterday and as I predicted lenders repriced for worse, about .375%. Some did it more than once as hopes for a rebound were dashed by the time the markets closed. The stock market is a major force causing bond market losses (the Dow gained 256 points today) and thus higher mortgage rates. A statement from the Fed to the effect that the end of the recession is in sight also contributed to the equity exuberence and the MBS mopes. However, the committee also indicated that unemployment could reach 10% this year–a figure that puts downward pressure on wages and inflation.
July 31st Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
July 31st, 2009
If the market was an ocean, investors would be puking over the sides of their boats by now. The motion is constant—up, then down, then back up–and unpredictable. Mortgage backed securities (MBS) reversed their recent trend, starting out low and picking up steam as economic data trickled out.
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