September, 2009 | Texas Mortgage - Texas Mortgage Rates - Leaman Team

There is still an appetite for Uncle’s paper which is a good thing for us

43 billion of 2 year notes hit the block at 1.034% with 45.2% taken by indirect bidders and those foreign central governments we talked about earlier. The auction was right on the screws (no tail), producing a bid to cover of 3.23 to 1. Very strong but then again, it’s short term paper with a maturity of 2 years. Nonetheless, there is still an appetite for Uncle’s paper which is a good thing for us. Mortgage backs have held their ground, up 3/32’s on the day.

September 22, 2009|Austin Mortgage Market|

We see the trade as continuing to be range bound

Technically, the weakness overnight traded to the low end of the range before boot strapping itself up this morning. We see the trade as continuing to be range bound, bracketed by 3.52% on the high yield side (10 year note) and 3.42% on the low side. Any move outside of these parameters will move the market for at least 1 point and a good ½ point in Austin mortgage pricing. Month end supply (112 billion) and a spooky FOMC policy statement sideswipe tilt our bias.

September 22, 2009|Austin Mortgage Market|

Call the market, bullish, schizophrenic, Sybil (remember the movie), irrational, and interesting. It’s a lot like herding cats.

Strange forces at work here that are driving the market so take advantage. Technically, buyers have taken pricing through major resistance which have formed bullish readings on trend studies and oscillators. The move has also confirmed a “hammer bottom” on yesterday’s candlestick charts however, daily studies will need time to catch up for a full blown rally. Call the market, bullish, schizophrenic, Sybil (remember the movie), irrational, and interesting. It’s a lot like herding cats.

September 11, 2009|Austin Mortgage Market|

Austin mortgage pricing is hanging in there but commands your attention

mortgage applications surged 17% according to the Mortgage Bankers Association, gold is trading above $1000.00 (inflation fear), and Consumer Credit fell by a record 21.6 billion. Stocks keep on creeping, up 30 points on the big board and as I mentioned, Austin mortgage pricing is hanging in there but commands your attention.

September 10, 2009|Austin Mortgage Market|

This is what we call an “inside day,” where patterns are mixed yet not able to make a major move one way or the other

Bonds and MBS have firmed a bit on the heels [...]

September 8, 2009|Austin Mortgage Market|

Cooler heads should prevail next week so don’t read too much into the worsening pricing

Meant to post this Sept. 4. So much for the [...]

September 8, 2009|Austin Mortgage Market|

For now, let’s call the market neutral with a slightly bullish bias for Austin mortgage pricing

Meant to post this Sept. 4. Nonfarm payrolls fell 216K, [...]

September 8, 2009|Austin Mortgage Market|

Unemployment Rate Jumps

Investor sentiment about the economic recovery fell this week, and [...]

September 8, 2009|MBS Quoteline Newsletter|

What will this mean to our Austin mortgage rates and Austin mortgage pricing? As always, this number is a market mover and not for the faint at heart.

Once again, it’s time for the “Mother” of all economic [...]

September 4, 2009|Austin Mortgage Market|

Markets are quiet and settling into a holding pattern before Friday’s 7:30 am cst release

Just a quick note on this pre-Employment report day. Markets are quiet and settling into a holding pattern before Friday’s 7:30 am cst release. Bonds, notes, and MBS giving up a little ground (MBS down 9/32’s) after nice gains the past few days.

September 3, 2009|Austin Mortgage Market|