oversold conditions

Currency wars is what this is all about and the Fed is getting exactly what it hoped for, consumer expectations of rising inflation to shut the door on deflation

Currency wars is what this is all about and the Fed is getting exactly what it hoped for, consumer expectations of rising inflation to shut the door on deflation. This was evidenced in last week’s Michigan Sentiment Survey. With QE2 priced in “before” it happened and the negative connotations mentioned above, treasuries have continued to be slaughtered, sending credit costs higher, doing nothing to stimulate the economy. Look for the Fed to try and talk rates back down.

November 15, 2010|Austin Mortgage Market|

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

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.

July 6, 2010|Austin Mortgage Market|

In a nutshell, borrowers need to be wary of waiting to lock in this market

In a nutshell, borrowers need to be wary of waiting to lock in this market. The potential for worsening Austin mortgage prices is high as our work projects 4.0% on the 10 year before we see 3.75% (currently 3.88%). If there is a White Knight, it could come via an Employment Report (7:30 am cst Friday) that is well below expectations, say flat to negative.

March 30, 2010|Austin Mortgage Market|

The U.S. economy lost 85K jobs in December, bringing the total to 7.6 million since the recession started in December 2007

The U.S. economy lost 85K jobs in December, bringing the total to 7.6 million since the recession started in December 2007. Back month revisions also come into play as October job losses increased 16K while November’s posting improved by 15k. The November number now stands at plus 4K, the first positive employment growth two years.

January 8, 2010|Austin Mortgage Market|

Housing market is stabilizing but will need to content with another wave of foreclosures as homeowners remain underwater and the loan modification programs to date have been a bust

Overall, we feel that the housing market is stabilizing but will need to content with another wave of foreclosures as homeowners remain underwater and the loan modification programs to date have been a bust.

December 16, 2009|Austin Mortgage Market|

GET STARTED

PREQUAL LETTER