Overall, we see continued low Austin interest rates on mortgages and historically low yields on treasuries well into the 4th quarter. The market is however forming a huge bond bubble that will someday create a massive correction. That day is not today or tomorrow.
Conditions favor continued bullish price action (Austin mortgage price improvement) but probably at a slower pace. Reason being is that we’re in the 10th consecutive week of positive price action on the weekly chart. Something that is rare to see (8 weeks or more).
In what looks to be a repeat of yesterday, stocks [...]
Short term, Austin mortgage borrowers are encouragerd to stay defensive. Fast money is selling the long end of the curve, dragging the 10 year note along with it. Not a lot of downside is expected from here. The week ahead will feature Case Shiller Home Prices, Consumer Confidence, Durable Goods, Weekly Claims, and GDP on Friday.
Just a heads up as stock traders have put a positive spin on the Euro Bank stress tests. Currently, the Dow is 90 points with financial equities having a pretty good day.
Great Austin mortgage rates should be with us well into the 3rd quarter or until you see strong hands get back into stocks or the employment picture start to improve. Neither seem to be next week’s story.
We will continue to trade the small range that has been with us for a couple weeks now, swinging from high to low, low to high depending on stocks and ‘headlines”. Nothing huge here as we see Austin mortgage rates remaining low well into the third quarter.
Fed Governor Fisher (Texas) comments about no need for further asset purchases but with a slowing second half of the year in his forecast, low inflation and a weak economy seem to be in play. This follows the Fed thinking and projects a low Austin mortgage interest rate environment until sustainable employment growth materializes.
As we have mentioned in the past, Austin mortgage interest rates appear to be locked in a tight range, trading at or near the best levels we’ve seen in 14 months. Reasons being are the lack of employment growth in the US, soft housing, Europe feeling queasy, and China concerns over growth. Tough to find a reason for higher yields, worsening mortgage pricing well into the third quarter.
Overall supportive but just the same, the market has come a long way in short period of time. Some type of consolidation would not be a surprise at all. Currently, mortgage backs are off 6/32’s. Odds of a worsening Austin mortgage price change are starting to rise. Be careful out there.
