With yields at or approaching historic yields, Austin mortgage borrowers are advised to lock their interest rates with our float down feature. Doing so has treated Austin mortgage borrowers very well the past few months.
The lack of month end buying and rebounding stocks has pinched treasury and mortgage pricing this morning. 10 year notes are off 12/32’s (yield 3.65%), mortgage backs off 6/32’s, and stocks are up 85 on the big board. The week ahead will be loaded with first tier data including everything from Construction Spending, Housing numbers, and the Employment Report for January.
Since stocks are the game today, let’s talk the equities and your 401K. 10% plus unemployment and a weak U.S. dollar are ok short term but stock bearish in the long run. With this in mind, we still have the Fed and it’s never ending easy money program, very low inflation, and market risk that will support the bond/MBS market well into 2010. Blue chip, high quality companies are the only way to go in today’s stock market. As for mortgage pricing, it’s “steady as she goes ” into the new year.
The good news is it’s Friday. The not so good [...]
mortgage applications surged 17% according to the Mortgage Bankers Association, gold is trading above $1000.00 (inflation fear), and Consumer Credit fell by a record 21.6 billion. Stocks keep on creeping, up 30 points on the big board and as I mentioned, Austin mortgage pricing is hanging in there but commands your attention.
