Purchase | Refi     512-710-1400

GET STARTED

APPLY NOW (CLICK HERE)

PREQUAL LETTER

LETTER REQUESTS (CLICK HERE)

gold

Today’s early trade pushed treasuries to higher yields and worsened mortgage pricing, but only slightly

oday’s early trade pushed treasuries to higher yields and worsened mortgage pricing, but only slightly. That occurred on a flat to slightly higher open for the Dow. Currently, the big board is off 68 points as sellers are still looking for any strength to get out. Reasons being that as Greece is on the edge of the cliff, global slowing will occur or even worse, a default in the Euro zone that could really put a pinch on global credit and stock earnings.

In a nut shell, what we have here is too much money chasing too few assets that are worth owning

Weak dollar, higher oil, new high in gold, stocks near unchanged, and bonds doing a little better. We’re feeling a bit like Bill Murray in “Groundhog Day”. Same trade just a new day. One memorable line from the movie; (Phil) Do you know what today is? (Rita) No, what? (Phil) Today is tomorrow. It happened. In a nut shell, what we have here is too much money chasing too few assets that are worth owning. Throw in a mixed bag of economic data and a seasonal supportive 4th quarter (for fixed income), it’s hard to see much of a change in Austin mortgage rates into year end.