FOMC Statement

Austin Mortgage Market Update – For the week of November 1, 2010

Last week's big rush of housing news began on Monday with Existing Home Sales for September UP 10% from the month before. The annual rate hit 4.53 million. This was the second straight monthly gain after July's record low following the expiration of the tax credits. The national median price for existing homes is now at $171,700, down 2.4% from a year ago. Unsold inventory dropped 1.9% from the prior month to a 10.7 months' supply.

November 1, 2010|Inside Lending Newsletter|

Austin mortgage rates were better this morning

Austin mortgage rates were better this morning and the 10 year is up 10/32s for the day. FOMC statement will be released at 1:15PM Central, and we will follow up with more news afterward.

September 21, 2010|Austin Mortgage Market|

FOMC made the statement to reinvest payments from MBS/Treasury into Treasury purchases, continuing to accommodate low interest rates

Yesterday, post-release we saw a quick spike in our market (rally) and then the market backed off. FOMC made the statement to reinvest payments from MBS/Treasury into Treasury purchases, continuing to accommodate low interest rates.

August 11, 2010|Federal Reserve Release|

“If” the health care bill comes to a vote this week and passes, stocks could very well change their tune

“If” the health care bill comes to a vote this week and passes, stocks could very well change their tune. Bottom line here is that most markets are neutral, waiting for something to fuel a trend change.

March 18, 2010|Austin Mortgage Market|

FOMC left interest rates unchanged and did not remove the statement, “low interest rates for and extended period of time”

FOMC left Austin interest rates unchanged and did not remove the statement, “low interest rates for and extended period of time”. Treasuries and stocks have improved on the news yet mortgage backed securities are only 1/32nd better. Market looks OK but still is tough to trust. Full press release below.

March 16, 2010|Austin Mortgage Market|

Our best case is for Austin mortgage rates to hold steady so use this time to be a little defensive

As you can see, our best case is for Austin mortgage rates to hold steady so use this time to be a little defensive into the FOMC announcement.

March 16, 2010|Austin Mortgage Market|

Technically we have a bullish breakout and most studies favor continued upside (better Austin mortgage pricing)

“In my view, if policy makers insist on waiting until [...]

September 25, 2009|Austin Mortgage Market|

No change in rates, longer term inflation in check, and low level of interest rates for an extended period of time

No change in rates, longer term inflation in check, and low level of interest rates for an extended period of time. They will also continue to buy Treasuries and MBS. Market are volatile but holding, albeit at lower levels. MBS off 9/32’s

September 23, 2009|Austin Mortgage Market|

We see the trade as continuing to be range bound

Technically, the weakness overnight traded to the low end of the range before boot strapping itself up this morning. We see the trade as continuing to be range bound, bracketed by 3.52% on the high yield side (10 year note) and 3.42% on the low side. Any move outside of these parameters will move the market for at least 1 point and a good ½ point in Austin mortgage pricing. Month end supply (112 billion) and a spooky FOMC policy statement sideswipe tilt our bias.

September 22, 2009|Austin Mortgage Market|

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