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Concerns over the deficit and debt levels in Greece are once again in play, forcing European markets lower and then spilling over to stateside equity markets

The news rallied European bonds and has given a lift to treasuries and MBS, pushing the 10 year note above the 21 day moving average. If we can hold these levels, the chart will turn to neutral from bearish and should work its way into better mortgage pricing.

2010-01-12T16:25:40-06:00January 12, 2010|Austin Mortgage Market|

Overall, we like the market if for no other reason that investor fear will keep a bid in treasuries which in turn will support mortgage backed securities

Overall, we like the market if for no other reason that investor fear will keep a bid in treasuries which in turn will support mortgage backed securities. Just remember that directional changes can be like playing “crack the whip.” Most probably outcome will be a triangle formation on the 10 year note chart, keeping mortgage pricing in a fairly tight range until the new year.

2009-12-08T16:21:04-06:00December 8, 2009|Austin Mortgage Market|