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Initial unemployment claims fell to 444k in the week ending May 8th, down from an upward revised 448k

This morning, bond prices are a touch higher following the weekly jobless claims data release. Initial unemployment claims fell to 444k in the week ending May 8th, down from an upward revised 448k. Economists had expected claims to drop from the previously reported 444k to 440k. Initial claims of 444k were a touch higher than estimates, but still a mere 5,000 above the year's low and at the bottom end of the range which has persisted throughout 2010.

2010-05-13T17:49:42-05:00May 13, 2010|Austin Mortgage Market|

A tug of war for Austin mortgage interest rates seems in the cards

Austin mortgage rates and pricing can go one way or the other in short order but most likely hold steady at current levels. Best to stay on defense as stocks certainly look better, Europe looks better, and the Federal Reserve Chairman hints of Fed Funds rate hikes sooner than later. Personally, we like the chart (better chance of lower Austin mortgage rates/better pricing) but the fundamentals (economic data) points to a steady recovery. A tug of war for Austin mortgage interest rates seems in the cards.

2010-05-10T12:45:06-05:00May 10, 2010|Austin Mortgage Market|

Expect the market to tread water with spurts of volatility from time to time

As we look through the forest to find a tree, the positive technical development today was that Trend Intensity turned neutral from bearish. Not huge you say but it’s baby steps, kinda like ‘What about Bob.” The study remains trend ready but with both bears and bulls getting the Rolling Stones treatment (No Satisfaction), expecting any new market moving trend to develop, good or bad, is unlikely soon. Prices now sit in the middle of the range and seem to be quite comfortable, typical of a market that can’t decide which way to go. Daily charts give sellers and edge but that’s 51/49 at best. Expect the market to tread water with spurts of volatility from time to time.

2009-12-08T16:24:38-06:00December 8, 2009|Austin Mortgage Market|