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New Home Sales gains also smell of the last mad rush for 8K in buyers credit money before we put that program to bed the end of next week

New Home Sales were also released, up 26.9% to 411K annual units. The print blew away economists estimates of plus 330K. Every region of the country rebounded with the “South rising again”, up 43% month on month. Although the numbers were great, they are coming off the worst month (February) in 22 years. The gains also smell of the last mad rush for 8K in buyers credit money before we put that program to bed the end of next week.

2010-04-23T12:28:17-05:00April 23, 2010|Austin Mortgage Market|

With current levels at 3.77%, the market needs to boot strap itself back together or further downside (worsening mortgage pricing) will occur

Today’s day-end close will be very important. We need to hold 116 22/64th on the futures chart (yield equivalent is 3.75%) to feel better about the range trade continuing. With current levels at 3.77%, the market needs to boot strap itself back together or further downside (worsening mortgage pricing) will occur.

2010-03-24T10:56:59-05:00March 24, 2010|Austin Mortgage Market|

If our bias is correct, you should see mortgage pricing hold steady to improve, watching to see if stocks can find their sea legs

We do feel that any selling will be shallow as the global doom and gloom will be with us for some time to come. Stocks would benefit and maybe just in time to save that market from a much bigger correction. If our bias is correct, you should see mortgage pricing hold steady to improve, watching to see if stocks can find their sea legs.

2010-02-05T09:34:38-06:00February 5, 2010|Austin Mortgage Market|

From a pure chart play, we would advise locking in your Austin mortgage rate

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!

2010-02-04T16:03:51-06:00February 4, 2010|Austin Mortgage Market|