Best bet for Austin mortgage borrowers is to lock in their interest rate. It just makes cents (and dollars too). Expect the day to be one of “squaring up” for traders in both bonds and stocks, with not much movement seen from current levels.
With stochastics and moving average crosses, odds are good we’ll push to lower yields and better Austin mortgage pricing. Improving economic conditions being trumped by a country one fifth the size of Texas. Go figure.
The Euro-zone/IMF approved 110 billion in aid to bail out Greece. Germany’s cabinet approved the draft, allowing them to contribute to the fund as well. The weekend news has been a rally maker for stocks and at the same time, pressured bonds, notes and mortgage backs right out of the gate.
From a pure chart play, we would advise locking in your Austin mortgage rate. Trouble with that advice is stocks and all the global heartburn can put the chart on its head. Tough one to handicap. Given the high profile jobs number tomorrow, it’s best to be a live dog than a dead lion when it comes to your Austin mortgage rate!
While daily volatility was high this week, Austin mortgage rates ended just slightly lower than last week. The primary factors influencing Austin mortgage rates were offsetting. The economic growth data released this week was stronger than expected, but inflation remained low. While the first two Treasury auctions produced impressive results, the final one was relatively weak.
With Austin mortgage rates possibly improving, this is a good time for borrowers to get off the fence. Not that we’re bearish, just cautious of a market going into the Employment report at such lofty, overbought levels.
From our technical view, the chart looks more like “crack the whip” than any type of symmetrical trading. Last Friday caught a bid from month end buying (portfolio extension needs), Monday gave it all back as stocks traded and closed above 1000 on the S & P chart, and today’s rally has been derailed by Pending Home Sales.
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