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New Home Sales gains also smell of the last mad rush for 8K in buyers credit money before we put that program to bed the end of next week

New Home Sales were also released, up 26.9% to 411K annual units. The print blew away economists estimates of plus 330K. Every region of the country rebounded with the “South rising again”, up 43% month on month. Although the numbers were great, they are coming off the worst month (February) in 22 years. The gains also smell of the last mad rush for 8K in buyers credit money before we put that program to bed the end of next week.

2010-04-23T12:28:17-05:00April 23, 2010|Austin Mortgage Market|

The tactical bias for Austin mortgage rates and pricing is to remain neutral

The tactical bias for Austin mortgage rates and pricing is to remain neutral, trading a range on the 10 year note between 3.75% and 3.82%. Stocks want clarity on the Goldman/SEC issue which will lead bonds to react accordingly. Our work on the 10 year note chart is providing neutral to bullish trend signals and overbought conditions at the same time. Classic example of a mixed bag.

2010-04-19T15:01:07-05:00April 19, 2010|Austin Mortgage Market|