Big picture still suggests low Austin mortgage rates will be with us for some time to come
Big picture still suggests low Austin mortgage rates will be with us for some time to come. Just get used to the volatility.
Short term, Austin mortgage borrowers are encouragerd to stay defensive
Short term, Austin mortgage borrowers are encouragerd to stay defensive. Fast money is selling the long end of the curve, dragging the 10 year note along with it. Not a lot of downside is expected from here. The week ahead will feature Case Shiller Home Prices, Consumer Confidence, Durable Goods, Weekly Claims, and GDP on Friday.
Austin borrowers are advised to lock in their Austin mortgage interest rates and step aside as we’re not sure whether the light in the tunnel is the end or a train
With risk reward not in your favor, Austin borrowers are advised to lock in their Austin mortgage interest rates and step aside as we’re not sure whether the light in the tunnel is the end or a train.
Expect Austin mortgage rates to stay low for some time to come
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.
Friday’s Employment data will be huge; some are calling for as much as 600K new jobs created
riday’s Employment data will be huge. Some are calling for as much as 600K new jobs created. Keep this in mind today and tomorrow as a print of that magnitude will raise holy H E double hockey sticks with Austin mortgage pricing. Be square or beware. We’ll handicap the report tomorrow.
Latest news regarding the Euro zone’s debt crisis was again good news
The latest news regarding the Euro zone’s debt crisis was again good news. Spain announced sharp austerity programs to cut its budget deficits and the EU aims to seek further power over member country budgets. In a nutshell, the news added more of a boost to global stocks after opening higher.
Stock market strength has pressured bonds, notes, and mortgage backs as we head towards the close
Stock market strength has pressured bonds, notes, and mortgage backs as we head towards the close. With the Dow up 96 points trading well over 11,000 and S & P’s over the 1200 level (which was good resistance and very psychological), the path of least resistance is for additional improvement. JPMorgan gave stocks the boost from the get go, beating earnings expectations by 10 cents and saying all the right things about credit quality improving etc. The 10 year note opened in the red but by only a few 32’s, holding onto the breakout level below 3.83% yield on the 10 year note.
Just a note as we head into the final hour of trading
Just a note as we head into the final hour of trading. After strength took us through the major down trend line, the market failed and made new lows (highest yield of the day) into the CBOT 10 year note futures close (2:00 pm cst).
Trust me, the pattern is bullish
First of all, the market had an “outside day up.” What this means is that we made a lower low than the previous day, only to close above yesterdays high level. In Austin mortgage terms, we had pricing at one time today that was worse than yesterdays only to close above yesterday's best level. Trust me, the pattern is bullish.
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.