Austin Mortgage Market

We feel that near term price action will focus on further downside (higher Austin mortgage rates/worse pricing) as we have yet to find a bottom

We feel that near term price action will focus on further downside (higher Austin mortgage rates/worse pricing) as we have yet to find a bottom. If there is a ray of hope, it will be that the 10 year note can hold at or below 2.95% (currently 2.93%). Best bet for Texas mortgage borrowers is to stay defensive. Before the market picks your pocket, lock your mortgage loans with the float down option ("option to lower your interest rate one time")!

November 18, 2010|Austin Mortgage Market|

Market is Slipping Again; Best bet for Austin mortgage borrowers is to use the float down option

Given the economic backdrop (high unemployment, etc.) we feel this move is close to a bottom. Trouble is, picking bottoms are like catching falling knifes, hard to do without some pain. Best bet for Austin mortgage borrowers is to use the float down option ("option to lower your interest rate one time") to guard against a reversal (rally).

November 16, 2010|Austin Mortgage Market|

Currency wars is what this is all about and the Fed is getting exactly what it hoped for, consumer expectations of rising inflation to shut the door on deflation

Currency wars is what this is all about and the Fed is getting exactly what it hoped for, consumer expectations of rising inflation to shut the door on deflation. This was evidenced in last week’s Michigan Sentiment Survey. With QE2 priced in “before” it happened and the negative connotations mentioned above, treasuries have continued to be slaughtered, sending credit costs higher, doing nothing to stimulate the economy. Look for the Fed to try and talk rates back down.

November 15, 2010|Austin Mortgage Market|

HomePath Mortgage – Frequently Asked Questions

HomePath Mortgage - Frequently Asked Questions - The real estate industry is buzzing about HomePath Fannie Mae acquires homes through foreclosure. Buyers can finance these properties with only 3% down. HomePath rates are excellent. No appraisal required, nor is mortgage insurance!

November 12, 2010|Austin Mortgage Market|

Austin mortgage rates to stay low into yearend and beyond

This country needs to see jobs growth of at least 250K per month just to break even. That will take time allowing Austin mortgage rates to stay low into yearend and beyond.

November 5, 2010|Austin Mortgage Market|

Market reaction favors steady to slightly worsening Austin mortgage pricing

Market reaction favors steady to slightly worsening Austin mortgage pricing. With the rally over the past few days, risk reward in not in your favor, Austin mortgage borrowers, unless the print reflects negative jobs growth.

November 4, 2010|Austin Mortgage Market|

With the Employment Report for October due out at 7:30 am cst tomorrow, the prudent thing for Austin mortgage borrowers is to lock their Austin mortgage rates now

Given that we are at the best levels in a month, your timing couldn’t be better in front of such a high profile release. We’ll preview the Employment Report early this afternoon.

November 4, 2010|Austin Mortgage Market|

Best bet for Austin mortgage borrowers is to be conservative/cautious with locking your interest rates as the political news will be tomorrow morning’s early trade

Best bet for Austin mortgage borrowers is to be conservative/cautious with locking your interest rates as the political news will be tomorrow morning's early trade

November 2, 2010|Austin Mortgage Market|

Next few days could be high volatility, market moving affairs with the mid-term elections, FOMC meeting, and a boat load economic data culminating with the Employment Report on Friday

Mortgage backs have slipped into the red. As I mentioned last week, the next few days could be high volatility, market moving affairs with the mid-term elections, FOMC meeting, and a boat load economic data culminating with the Employment Report on Friday.

November 1, 2010|Austin Mortgage Market|

Signs of strong demand for 7 year notes

Demand was very good as 50% of the issue was taken by Indirect Bidders. Bid to cover ratios came in at 3.06 to 1. Both of those measures were above average. The issue was also “bid through the screen”, meaning that some got shut out even if they had at the money bids in. That is a sign of strong demand.

October 28, 2010|Austin Mortgage Market|

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