Market reaction favors steady to slightly worsening Austin mortgage pricing. With the rally over the past few days, risk reward in not in your favor, Austin mortgage borrowers, unless the print reflects negative jobs growth.
Many of the Wall Street firm are in our same neighborhood, looking for Nonfarm Payrolls to fall 500K plus. Given any number over 400K, we would expect bonds and mortgage pricing to hold their own or rally slightly. Given a number of 500K plus (losses), improvement in mortgage pricing of .50 bps would not be a surprise.
Nonfarm Payrolls – Minus 363K Unemployment Rate – 9.6% Average [...]
The economy has now lost 4.168 million jobs over the last 12 months. More than half of the job losses have occurred in the past quarter. Staggering.
March 6, 2009 Non-Farm Payrolls fell 651K in February, January [...]
One of the reasons for giving you our bias on locking in loans today, especially with the float down, is due to the fact that the market has set itself up for a really bad number
March 5, 2009 Once again, it is time for the [...]
March 4, 2009 This morning’s ADP Employment Report, our first [...]