Monthly Archives: February 2010

Since we as tax payers own AIG, you should be interested to know that they just announced a Q4 loss of 8.9 BILLION

Short term we say “go on, take the money and run”. Longer term, our bias is for a double dip recession of sorts and one more chance to refinance. Continue reading

Weak Data Moves Austin Mortgage Rates Lower

After several weeks of focus on Fed actions and events in foreign markets, domestic economic data was the primary influence on mortgage markets this week. Weaker than expected results from the data helped Austin mortgage rates, which ended the week lower. Continue reading

Today’s Austin mortgage rates: the market trades well but your risk reward is starting to dwindle

Today’s Austin mortgage rates: the market trades well but your risk reward is starting to dwindle. Given the stiff resistance overhead, best to use the improved mortgage levels. Take advantage. Continue reading

A leading indicator for Austin home prices? Follow the rents!

The big question for home buyers and sellers today is: “Where are Austin home prices headed?” People want to know if now is a good time to buy or sell, or if they should wait. Continue reading

The key here is neutral not bullish, telling us that continued upside (better mortgage pricing) will be a challenge

Technically, the rally we’ve seen the past couple of days has improved the charts, turning the trend to neutral from bearish. The key here is neutral not bullish, telling us that continued upside (better mortgage pricing) will be a challenge.
Continue reading

Good time to take advantage of better mortgage pricing

Good time to take advantage of better mortgage pricing. Our next hurdle will be the removal of MBS purchases by the Fed and the elimination of the 8K tax credit. Time will tell. Continue reading

Keep those home costs under control

These days, most people are trying to control their expenses a little more tightly. Often they don’t realize how much they’re paying to live in their homes. So let’s take a look at that home budget and see if we can’t do a better job of staying on top of the costs. Continue reading

We expect a larger bearish move (more selling/worsening mortgage pricing) in the days ahead

If our work (and that of others ) is correct, we would expect a larger bearish move (more selling/worsening mortgage pricing) in the days ahead. To avoid another leg down, we need to close below 3.74% on the 10 year note (end of day close). Best to keep both hands on the wheel. Continue reading

Austin Mortgage Market Update – For the week of February 22, 2010

Builders are jumping on the recovery bandwagon, as January Housing Starts beat consensus estimates, heading UP 2.8% to an annual rate of 591,000 units. Single-family starts are now 35.6% up from their low a year ago. Total new building permits dropped a tad in January, but single-family permits were up 0.4% for the month and UP 48.2% from a year ago. Continue reading

The spike in Austin mortgage rates and worsening prices will be worked into the system until we find a new MBS buyer/buyers to replace Uncle Sam

The spike in Austin mortgage rates and worsening prices will be worked into the system until we find a new MBS buyer/buyers to replace Uncle Sam. That part of this Quantitative Easing process will end soon (end of March). That said, the street is being overwhelmed with mortgage paper by originators, servicers, and portfolio types that make this their business. Continue reading