Monthly Archives: August 2009

If we close the day at 3.53% or lower, the monthly bearish trend cycle will have been broken, adding another layer of support for fixed income and Austin mortgage pricing

Stocks have gotten off on the wrong foot, starting in China as their index dropped nearly 7% and closed the month with its first loss in four months.  China is now down 23% from the August 4th peak.  Sour stocks … Continue reading

Just a heads up as the market has started to slip

Just a heads up as the market has started to slip.  For some reason, maybe auction indigestion, the 10 year has dropped 12/32’s and MBS off 6/32’s.  Stocks have turned positive, up 30 points on the Dow.  Expect those who … Continue reading

Looks like the Treasury scored a hat trick with this week’s auctions

If you were holding your breath, it’s ok to exhale.  The paper crossed the screen at 3.092% with only a baby tail of .03 bps.  Indirect bidders took 61.2% of the issue, a very strong number.  The bid to cover … Continue reading

This could be pre-auction hedging pressure or the makings of a poor auction. Heads Up!

Weekly Unemployment Claims hit the tape this morning down 10K to 570K.  Continuing Claims also dropped to 6.133 million (down 119K).  The drop on both indexes does little to brighten the employment picture as claims remain high and continuing benefits … Continue reading

One of our loan officers asked if the re-appointment of Gentle Ben to a second term has affected the market. Answer is, not really.

Currently, the 10 year note is down 1/32nd (yield 3.45%), mortgage backs unchanged, and stocks up a baker’s dozen.  Typically, this week and next trade the least amount of volume of the year.  Reason is it’s the last time to … Continue reading

Unless something is way out of whack with the 2 year auction, expect Austin mortgage pricing to stay close to home

Just a quick note before the results of today’s 42 billion in 2 year notes (auction).  Results will hit the tape at 12:00 pm cst.  Last month, this auction did not go well, sending yields higher on poor investor interest.  … Continue reading

English translation is that the rally could be short lived in front of 109 billion in paper and a stock market that just won’t break

Strange start to the week as stocks opened on the positive side, following through as Asian and Europe all posted gains to their indices.  Bonds and mortgage backs were on the soft as fast money seller continued Friday’s trade and … Continue reading

Extremely low Austin mortgage rates on the horizon

Monday is shaping up to be a good days for us Austin mortgage types.  Stocks are on the run, starting in Asia, China, and London with state side traders picking up the ball on the open.  Currently, the Dow is … Continue reading

Austin Mortgage Rates Move Lower

Tame inflation data, strong demand for the Treasury auctions, and a lack of surprises from the Fed were all positive for Austin mortgage markets, and Austin mortgage rates ended the week lower. As expected, the Fed held the fed funds … Continue reading

One in every 355 U.S. homes are in some stage of foreclosure, a new record.

Both Weekly Unemployment Claims and Retails sales missed expectations as Claims rose 4K and Retail Sales fell .1%.The market had been looking for a drop in Weekly Claims of 9K.  Continuing Claims fell 141K to the lowest level since April.  … Continue reading