Monthly Archives: March 2009

We see little change ahead until Friday when the Employment Report for March will be released

Mortgage backs unchanged, 10 year note unchanged, stocks up 150 on the big board, and the Naz up 43 points.  We see little change ahead until Friday when the Employment Report for March will be released.  Until then, we see … Continue reading

Austin Mortgage Rates Hold Low Levels

The Fed announcement last week about an expansion of the mortgage-backed securities (MBS) purchase program pushed mortgage rates down to the lowest levels in decades, according to the weekly surveys from the Mortgage Bankers Association (MBA) and Freddie Mac. This … Continue reading

There’s an old saying among traders, “don’t fight the Fed.” Certainly fits in today’s market and maybe we should add “let the big dog eat.”

Fast market conditions exist as the 10 year note has gone from plus 9/32’s to down 9/32’s in the last 15 minutes.  Short term patterns that pointed to higher levels (rally), met their objectives and have slipped away from the … Continue reading

City of Austin Requires Energy Audit Before Property Sale

Austin Energy Conservation Audit and Disclosure Ordinance, Frequently Asked Questions. What is the Austin Energy Ordinance? What properties are effected by the new Austin Energy Audit Ordinance? Why was the new Austin Energy Ordinance passed? When does the Energy Ordinance take effect in Austin, TX? What do Austin homeowners need to do to meet the Austin Energy Ordinance requirements? Are there exemptions to the Austin Energy requirement? Continue reading

We’ll stick to our story that the worse in over with mortgage rates rising, pricing worsening since a week ago Wednesday so a little improvement should be in order

Weekly Unemployment Claims hit the tape plus 8K to 652K and Continuing Claims rose to 122K, a new record high 5.56 million.  Continuing Claims has risen a startling 40% in 4 months.  Stimulus plan, where are you? Final 4th Quarter … Continue reading

Stocks off 17 on the Dow yet all markets have a high degree of volatility. This market is nothing to mess around with.

Although the Fed has been in buying the long end of the curve (10 year note/30 year bond), their bid has faded.  Currently, the 10 year note is off 37/32’s, trading at a yield of 2.79%.  The bond is off … Continue reading

We believe the slow grind to higher yields, worsening mortgage pricing has nearly run its course

Treasury traders have had to be quick as a cat , sidestepping the land mines such as China, Fed, Treasury, Capitol Hill, 98 billion in auction paper this week, and Barney Frank lifting their wallet.  Less than a week a … Continue reading

Overlapping patterns suggest that the selling last Wednesday (afternoon), Thursday, and Friday was corrective in nature so the possibility of lower mortgage rates/better pricing has a high probability

Lots to talk about on this Monday morning. Overseas, it appears as if Treasury Secretary Geithner smoozed the Chinese, helping to smooth relations with their ongoing appetite for Uncle Sam’s debt. China came out endorsing the continued purchase of Treasuries … Continue reading

Austin Jumbo Loan Mortgage Rates Below 7%

  PrimeLending is offering this amazing opportunity to your luxury home clients. This is a PrimeLending product.   Call Max Leaman now (512) 765-4300 or email Team@MaxLeaman.com to get today’s LOW jumbo rate.   Jumbo Loan Offering: Loan amounts up to $1,000,000, … Continue reading

Given the firepower the Fed is willing to throw at the market via Quantitative Easing, we would not expect to see mortgage rates rise much further. We are however very close to a worsening price change

Market wise, we see this as a period of consolidation, one that is more about fatigue. So much has been going on with TARP, TALF, AIG, FOMC, and U and ME that the market is simply wore out. Given the firepower the Fed is willing to throw at the market via Quantitative Easing, we would not expect to see mortgage rates rise much further. We are however very close to a worsening price change. Continue reading