30 YEAR FIXED NOTE RATE: 5.75-5.875% LOCK RECOMMENDATION: WAIT FOR THE FED DECISION IF LOCKING TODAY. FUTURE LOCK RECOMMENDATIONS WILL DEPEND ON HOW THE MARKETS REACT TO THE RATE DECISION AND THE IMPORTANT STATEMENT THAT FOLLOWS. ANY NEGATIVE NEWS ABOUT ECONOMIC GROWTH AND POSITIVE NEWS ABOUT INFLATION...
The pending home sales figures were released at 7AM this morning and are usually not a big mover of markets. Pending sales were up slightly at .6% month over month, but down 18.4% year over year. In other gloomy news, the National Association of Realtors only expects sales to increase by .5% in 2008...
The much-anticipated jobs report was released this morning. Estimates called for anywhere for anywhere from 65,000 - 90,000 new jobs to be added. The report slightly exceeded expectations coming in at 96,000. However, this was a downward movement from the previous month. In addition, consumer sentiment...
30 YEAR FIXED NOTE RATE 5.5% LOCK RECOMMENDATIONS - LESS THAN 2 WEEK CLOSING ................ LOCK - 2-4 WEEK CLOSINGS. ............... FLOAT - 4+ WEEK CLOSING ................ FLOAT - CONSERVATIVE CAVEAT ................ RATES ARE AT THE
BOTTOM OF TRADING RANGE. CONVENTIONAL WISDOM BASED ON TECHNICAL...
30 YEAR FIXED NOTE RATE 5.5% LOCK RECOMMENDATIONS - LESS THAN 2 WEEK CLOSING ................ FLOAT - 2-4 WEEK CLOSINGS. ............... FLOAT - 4+ WEEK CLOSING ................ FLOAT - CONSERVATIVE CAVEAT ................ RATES ARE AT THE BOTTOM OF TRADING RANGE. CONVENTIONAL WISDOM BASED ON TECHNICAL...
30 YEAR FIXED NOTE RATE = 5.5% LOCK RECOMMENDATION: < ONE WEEK = LOCK > ONE WEEK AGGRESSIVE = FLOAT > ONE WEEK MODERATE = FLOAT > ONE WEEK CONSERVATIVE = LOCK The Institute for Supply Management released it's index this morning. Though the 50.8 reading was a small amount higher than expected...
The 30 year fixed PAR rate is unchanged from yesterday. Stocks and bond yeilds are both up on Bernanke's comments regarding the Fed's awareness and intention to combat an impending recession. Economic data releases continue to show a weakening economy, with the Personal Income and Outlays down more than...
Best 30 Year Fixed PAR Rate: 5.625% Lock Recommendation: Cautious Float A lot of economic released today, but none of it earth-shattering. Mortgages rates are finding slight support from what is generally perceived to be a weakening market. The DOW is currently struggling to hold it's gains from yesterday...
The Dow has continued upward today led by Financials, Google, Amazon, and Ebay, currently up over 250 points. Most are attributing this to several factors: 1. Fed Vice Chairman Donald Kohn suggested the possibility of future rate cuts in a Speech to the Council on Foreign Relations. 2. Oil is lower 3...
30 YEAR FIXED NOTE RATE = 5.75%** LOCK RECOMMENDATION = Short term lock. 20 days+ Float. It's a strange day in the markets. Several indicators should be leading to improved interest rates, namely the worse than expected consumer confidence report and the sharp decline in home prices. Despite this, the...