With that in mind and the fact we’re trading at or near historic low yields, best bet is for Austin borrowers to lock in today’s great Austin mortgage rates and move on down the road.
Tuesday we had Pending Homes Sales, which after dropping 30% in May, fell just 2.6% in June, with the push to qualify for the tax credit no longer a factor. These figures indicate there should be a drop in Existing Home Sales come July and maybe again in August. But some analysts feel that after this post-tax-credit dip, housing will come back solidly, just like auto sales did after "cash for clunkers" expired last year.
We look to still be headed for better Austin mortgage rates. With the bounce back today, these are very nice levels.
With the market being so psycho and at historic lows in Austin mortgage rates, best to be careful. You never know if tomorrow will be Dr Jekyll or Mr Hyde.
This typically will tell us that buyers of treasuries still have the advantage but will need a little giddy up go to stay at these levels. Good time for Austin mortgage borrowers to put both hands on the wheel.
After a early morning rally due to stocks falling into the abyss, both stocks and bonds are reversing course. The stock slide was the result of earnings and lack of top line revenues by the likes of J & J and Goldman Sachs. IBM posted the same type of results, hitting bottom line earnings but with a negative revenue bias going forward.
Probability of a worsening Austin mortgage price change is gaining. Nothing huge, just volatile. As I mention late last week, borrowers should be careful as the market continues to churn on headlines from out of the blue!
High probability of a worsening Austin mortgage price change. We see the tactical bias as being defensive with conditions and chart work pointing to a more bearish outcome. Borrowers are advised to stay with this market and don’t let it put you to sleep. It could be costly.
Fed Governor Fisher (Texas) comments about no need for further asset purchases but with a slowing second half of the year in his forecast, low inflation and a weak economy seem to be in play. This follows the Fed thinking and projects a low Austin mortgage interest rate environment until sustainable employment growth materializes.
As we have mentioned in the past, Austin mortgage interest rates appear to be locked in a tight range, trading at or near the best levels we’ve seen in 14 months. Reasons being are the lack of employment growth in the US, soft housing, Europe feeling queasy, and China concerns over growth. Tough to find a reason for higher yields, worsening mortgage pricing well into the third quarter.
