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low interest rates

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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.

2010-11-01T10:25:09-05:00November 1, 2010|Inside Lending Newsletter|

With stocks near unchanged and a basket of economic uncertainty, best to not throw caution to the wind

With stocks near unchanged and a basket of economic uncertainty, best to not throw caution to the wind. Bernanke's mandate for low interest rates well into the future, coupled with a staggering deficit, falling dollar, 3 trillion in health care costs on the docket, and taxes for both individuals and small business destine to rise in 2010 will create difficult challenges and unintended consequences. With the Fed policy a given, we expect to see a floor under the bond market, supporting both treasury and mortgage back security pricing. Buying sponsorship (upcoming auctions) and year end book closings will be the challenge (liquidity issues).

2009-11-17T13:37:24-06:00November 17, 2009|Austin Mortgage Market|