Monthly Archives: June 2010

Odds of a worsening Austin mortgage price change are starting to rise

June 30, 2010

Overall supportive but just the same, the market has come a long way in short period of time. Some type of consolidation would not be a surprise at all. Currently, mortgage backs are off 6/32’s. Odds of a worsening Austin mortgage price change are starting to rise. Be careful out there. Continue reading →

Austin Mortgage Market Update – For the week of June 28, 2010

June 28, 2010

Last week May existing home sales came in UP 19.2% over a year ago. Nonetheless, after beating expectations three months in a row, monthly sales fell short of the gain expected, off 2.2%. But the months’ supply of existing homes dropped from 8.4 to 8.3 months, as inventory slid to 3.89 million homes. And the median price is rebounding, UP 2.7% over last year. Finally, the April FHFA home price index was UP 0.8% for homes financed with conforming mortgages. Continue reading →

Not to say we will not see lower Austin mortgage rates and better pricing but for that to come to fruition, we’ll need a major catalyst

June 24, 2010

Not to say we will not see lower Austin mortgage rates and better pricing but for that to come to fruition, we’ll need a major catalyst. Something like a stock market rout or collapse of Greece. In English, the smart money will bet against this, at least for a corrective trade that could take the 10 year note back to 3.25%. Pricing was struck with MBS unchanged, now down 5/32’s. Trigger fingers are getting twitchy. Continue reading →

Stocks just can’t catch a break, slip slidding once again into negative territory

June 22, 2010

Stocks just can’t catch a break, slip slidding once again into negative territory. Bonds, notes, and Austin mortgage pricing are the benefactors, continuing to push to lower yields. Continue reading →

Worries about European banks, UK austerity measures, US Housing, and the beginning of a two day FOMC meeting are all on today’s marquee

June 22, 2010

Worries about European banks, UK austerity measures, US Housing, and the beginning of a two day FOMC meeting are all on today’s marquee. Stress tests and downgrades on banks across the pond got the early morning trade going. Continue reading →

Austin Mortgage Market Update – For the week of June 21, 2010

June 21, 2010

The big news of the week revealed housing starts down 10.0% in May to an annual rate of 593,000 units. Closer inspection of the report reveals that all the drop came from the South. In fact, housing starts were actually UP in all other regions of the country. The South suffered in May with the Gulf oil spill disaster and major flooding. It’s understandable that these unfortunate occurrences would make everyone, including home builders, more risk averse than usual. In any case, starts are UP 24.3% above their low a year ago April, with single-family starts UP 15.3% in the last year. Continue reading →

Analyst Meredith Whitney expects U.S. economy to have rough 2nd half – if true, expect Austin mortgage rates to stay low into 2011

June 21, 2010

In the “for what it’s worth” department, top analyst Meredith Whitney has a bearish call on equities (stocks) and expects the U.S. economy to have a rough second half. If true, expect Austin mortgage rates to stay low into 2011. Continue reading →

Low Inflation Helps Austin Mortgage Rates

June 18, 2010

Economic data moved Austin mortgage rates this week. Slower than expected economic growth data and low inflation figures were favorable for the Austin, TX mortgage market. As a result, Austin mortgage rates ended the week lower. Continue reading →

Expect Austin mortgage rates to stay low for some time to come

June 17, 2010

It will become more and more difficult to improve Austin mortgage pricing/ lower yields without new fuel (catalyst). At the same time, the economic fundaments do not support higher Austin mortgage rates or worsening mortgage pricing. So, expect Austin mortgage rates to stay low for some time to come. Continue reading →

5 ways to make your website more effective

June 16, 2010

It’s important for real estate agents and agencies to keep their Web sites fresh and updated. From Google’s perspective, your website should be a growing resource, with accurate content. But what should you change to make your site work harder? Here are some things to do. Continue reading →