Austin Mortgage Market

Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates

Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates. Why many expect the Fed to move in that direction (November meeting), nothing has yet to happen. Fed Chief Bernanke is leading the QE2 charge, talking about “additional purchases” and how it was an “effective program” earlier in the year.

October 5, 2010|Austin Mortgage Market|

Today, much like yesterday morning, we had the release of several economic numbers

Today, much like yesterday morning, we had the release of several economic numbers, some volatility, and a bond market that settled into neutral territory before pricing went out.

October 1, 2010|Austin Mortgage Market|

USDA Rural Housing program will operate under Continuing Resolution authorization until the Agricultural Appropriations budget is finalized

At the start of the new fiscal year(tomorrow), it appears the USDA Rural Housing program will operate under Continuing Resolution authorization until the Agricultural Appropriations budget is finalized. This frequently happens at the start of the new fiscal year when the House and Senate don't finalize the budget prior to year end.

September 30, 2010|Austin Mortgage Market|

Auction Update: 7-yr note auction draws 1.890%

Auction Update: 7-yr note auction draws 1.890%. Sees a 3.04 bid to cover (10-auction average of 2.84) and indirect bidders taking down 50.2%. Best bid to cover since 7-yr was brought back in Q1 2009. Pretty solid auction -Treasuries and mortgages are regaining some of the ground lost during the morning trading.

September 29, 2010|Austin Mortgage Market|

Today there will be a vote in the House on the Fair Trade Act which basically will designate China as a currency manipulator

Today there will be a vote in the House on the Fair Trade Act which basically will designate China as a currency manipulator. The next step is for the bill to be sent to the Senate. It is not expected to pass in the Senate, at least before the November 2 elections and the November G-20 meeting (Korea Nov 11-12).

September 29, 2010|Austin Mortgage Market|

Article by Zillow Mortgage Marketplace states 29% of potential borrows do not qualify for a home loan due to FICO score below 620

Interesting article by Zillow Mortgage Marketplace today stating that 29% of potential borrows do not qualify for a home loan. Biggest reason, ficos below 620.

September 28, 2010|Austin Mortgage Market|

Overall, we see the stock market as moving away from any notion of a double dip, instead feeling a little giddy about taking on more risk

Overall, we see the stock market as moving away from any notion of a double dip, instead feeling a little giddy about taking on more risk. Reason being is that traders view one of two scenarios playing out, both good for stock prices.

September 27, 2010|Austin Mortgage Market|

Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates

Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates. Just like I mentioned earlier today, the trade is one of consolidation and near good support.

September 25, 2010|Austin Mortgage Market|

Austin mortgage borrowers are encouraged to take advantage of any rallies

Austin mortgage borrowers are encouraged to take advantage of any rallies. Too many cross currents leads to high levels of volatility. Play it safe and take advantage of your opportunities!

September 24, 2010|Austin Mortgage Market|

Worsening Austin mortgage rates are a NY minute away

Wanted to let this fly as current level mortgage pricing is now off 8/32’s as stocks continue to improve. Worsening Austin mortgage rates are a NY minute away.

September 23, 2010|Austin Mortgage Market|

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