Purchase | Refi     512-710-1400

GET STARTED

APPLY NOW (CLICK HERE)

PREQUAL LETTER

LETTER REQUESTS (CLICK HERE)

stock market trade

Home > Posts > Tag: stock market trade

Our bias will lean towards a range trade with follow through in either direction (better or worsening mortgage pricing) doubtful

Stocks had a great day, breaking a four day S & P losing streak. The Dow finished up 199 points and the Naz gained nearly 38 points on the day. Given the stock market trade, any gains in mortgage pricing will be more difficult to come by. That said, the market profile neutralized yesterday’s bullish structure but did not turn it negative. The extreme low (yield of 3.52% - going into the close at 3.49%) held with fast money buyers taking it off the lows, not to be revisited into the close. Downside trading was mixed but we did close above the session mode, a net positive. Into the end of the week/month, our bias will lean towards a range trade with follow through in either direction (better or worsening mortgage pricing) doubtful.

2009-10-30T14:59:40-05:00October 30, 2009|Austin Mortgage Market|

Stocks will hold the key as to where Austin mortgage rates go next

Currently, the 10 year note is down 20/32’s (yield 3.49%), MBS down 6/32’s, and stocks up 75 points on the big board. Stocks will hold the key as to where Austin mortgage rates go next. The current pattern (stocks) has been for sellers to lean on the market when it rallies (5 out of the last 7 days). We will want to watch the late afternoon trade (from 2:00 to 3:00 cst) to see if they can hold today’s gains. Failure to do so will improve mortgage pricing while a positive close, especially 50 points or more, will put additional pressure on our stuff.

2009-10-29T13:02:22-05:00October 29, 2009|Austin Mortgage Market|