With the GDP release tomorrow, Austin mortgage borrowers are advised to lock their interest rates with the float down in preparation for a stress-free weekend

Weekly claims came out this morning with an unexpected drop of 31,000.  The four week moving average was 486,750, which is an increase of 3,250.  This wasn’t too much of a market mover, and bond pricing opened only slightly higher than yesterday’s close.   We also just had the auctioning of $29Billion of 7 yrs, with the yield at 1.989% , a bid-to-cover of 2.98, and indirects in at 56.7%.  Overall a nice auction.  The treasury market has reacted favorably, but the MBS spreads are working against us… meaning that  MBS pricing has not kept the pace with Treasuries.  With the GDP release tomorrow,  Austin mortgage borrowers are advised to lock their interest rates with the float down  in preparation for a stress-free weekend.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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