Market reaction favors steady to slightly worsening Austin mortgage pricing. With the rally over the past few days, risk reward in not in your favor, Austin mortgage borrowers, unless the print reflects negative jobs growth.
With respect to Austin mortgage rates and pricing, we see little change unless the prints are major outliers, say -200K or plus 100K (Non-farm). Either one of those would start a major move. Odds are good that pricing will be pretty close to where it is right now in 24 hours.
Employment report over 250K should give stocks a lift and punish our pricing for about .25 to .50. Anything less than 50K would hold Austin mortgage rates steady and probably put another whippin’ on stocks
Over 250K should give stocks a lift and punish our pricing for about .25 to .50. Anything less than 50K would hold Austin mortgage rates steady and probably put another whippin’ on stocks. With all that is moving markets these days, only the almighty know where we’ll be this time tomorrow. Best bet for borrowers is to lock your interest rate NOW and buckle up! Should be a wild ride.
Many of the Wall Street firm are in our same neighborhood, looking for Nonfarm Payrolls to fall 500K plus. Given any number over 400K, we would expect bonds and mortgage pricing to hold their own or rally slightly. Given a number of 500K plus (losses), improvement in mortgage pricing of .50 bps would not be a surprise.
Nonfarm Payrolls – Minus 363K Unemployment Rate – 9.6% Average [...]