mortgage pricing

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.

April 23, 2010|Austin Mortgage Market|

For the market to do better (Austin mortgage pricing improvement), we need to breach and close above 116 10 (below 3.83% yield)

Currently, we’re right up against the top of the range (116 10 in futures and 3.83% 10 year note yield). For the market to do better (Austin mortgage pricing improvement), we need to breach and close above 116 10 (below 3.83% yield).

April 12, 2010|Austin Mortgage Market|

Details of the 21 billion 10 year note auction just hit the tape – this was a very good auction

Details of the 21 billion 10 year note auction just [...]

April 7, 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.

March 24, 2010|Austin Mortgage Market|

Using one standard deviation and a dart board, our bias is for 100k in job losses and a 9.9% unemployment rate

Using one standard deviation and a dart board, our bias is for 100k in job losses and a 9.9% unemployment rate. JPMorgan has the call at minus 90K and 9.9%, Barclays at Minus 75K and 9.8%, Wells Fargo at minus 80k and 9.7%, and Credit Suisse the outlier at minus 125K and 9.9%.

March 4, 2010|Austin Mortgage Market|

Lots of first tier data this week with housing data, PPI, and CPI (inflation data) taking the top billing

Lots of first tier data this week with housing data, PPI, and CPI (inflation data) taking the top billing. Best to stay a little defensive and keep an eye on the “Headlines."

February 16, 2010|Austin Mortgage Market|

Many factors are making mortgage pricing swing like a monkey in a tree

All of the above are making mortgage pricing swing like a monkey in a tree. In the short run, it’s anyone’s guess where pricing will go.

February 10, 2010|Austin Mortgage Market|

Overall, both global and stateside concerns will keep the market on edge and support lower mortgage rates

It fits with the technical picture as well since we are now becoming over bought in the near term. Overall, both global and stateside concerns will keep the market on edge and support lower mortgage rates.

February 5, 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.

February 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!

February 4, 2010|Austin Mortgage Market|

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