With the market being so psycho and at historic lows in Austin mortgage rates, best to be careful. You never know if tomorrow will be Dr Jekyll or Mr Hyde.
The Fed Chief is on the hill, still speaking about the state of our economy. I haven’t caught much of his speech, only been following the market reaction. Stocks don’t like it, down 120 on the Dow. Bonds like it, up 8/32’s on the 10 year note.
Failure to rally isn’t bad, just paints the chart neutral which will cause Austin mortgage rates/pricing to stay close to current levels. Kinda like being all dressed up and no place to go.
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This typically will tell us that buyers of treasuries still have the advantage but will need a little giddy up go to stay at these levels. Good time for Austin mortgage borrowers to put both hands on the wheel.
After a early morning rally due to stocks falling into the abyss, both stocks and bonds are reversing course. The stock slide was the result of earnings and lack of top line revenues by the likes of J & J and Goldman Sachs. IBM posted the same type of results, hitting bottom line earnings but with a negative revenue bias going forward.
Probability of a worsening Austin mortgage price change is gaining. Nothing huge, just volatile. As I mention late last week, borrowers should be careful as the market continues to churn on headlines from out of the blue!
Some analysts feel the homebuyer tax credits artificially boosted the housing market by pushing forward home sales that would have happened later. Others feel most buyers would have bought anyway. In any case, there's now concern about a coming drop in sales. Well, June sales figures should still benefit from activity spurred on by the tax credits. And tax credit sales should even help monthly reports through September, now that buyers in contract on April 30 have been given until September 30 to close.
Great Austin mortgage rates should be with us well into the 3rd quarter or until you see strong hands get back into stocks or the employment picture start to improve. Neither seem to be next week’s story.
Any where here, current mortgage pricing or a little better is a good place for borrowers to lock in their Austin mortgage interest rates. Any reversal in stocks will simple reverse our direction and take the market to the lower part of the range. Enjoy the historic low Austin mortgage rates.
