Given the “juice” provided by QE2 (rumor or real), we may be set up for a blow off top and hard reversal
Given the “juice” provided by QE2 (rumor or real), we may be set up for a blow off top and hard reversal
Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates
Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates. Why many expect the Fed to move in that direction (November meeting), nothing has yet to happen. Fed Chief Bernanke is leading the QE2 charge, talking about “additional purchases” and how it was an “effective program” earlier in the year.
Today, much like yesterday morning, we had the release of several economic numbers
Today, much like yesterday morning, we had the release of several economic numbers, some volatility, and a bond market that settled into neutral territory before pricing went out.
Article by Zillow Mortgage Marketplace states 29% of potential borrows do not qualify for a home loan due to FICO score below 620
Interesting article by Zillow Mortgage Marketplace today stating that 29% of potential borrows do not qualify for a home loan. Biggest reason, ficos below 620.
Austin Mortgage Market Update – For the week of September 27, 2010
As promised, last week's reports gave us a complete picture of the housing market in August. Housing Starts rose 10.5% month-over-month to a 598,000 annual rate, well ahead of the expected 550,000 number. Building Permits, which reflect builder sentiment further out, grew a more modest 1.8% month-over-month to a slightly smaller 569,000 annual rate. Thursday, Existing Home Sales came in UP 7.6% over July, at a 4.13 million annual rate. But let's remember, July was a record low, so this gain still left sales down 19% from August a year ago. The median price for Existing Homes, however, ticked up 0.8% year-over-year, as reported by the National Association of Realtors.
Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates
Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates. Just like I mentioned earlier today, the trade is one of consolidation and near good support.
Austin mortgage borrowers are encouraged to take advantage of any rallies
Austin mortgage borrowers are encouraged to take advantage of any rallies. Too many cross currents leads to high levels of volatility. Play it safe and take advantage of your opportunities!
Stocks aren’t the problem as the big board just closed off 22 points for the session
Just a quick note as the market is fading into the sunset. Stocks aren’t the problem as the big board just closed off 22 points for the session. We see this as a rejection from the overhead resistance that we’ve been bumping into given the rally of the past two days. Nothing huge here. Just a little profit taking after a nice run.
Data Turns Austin Mortgage Rates Higher
After falling for several weeks, stronger than expected economic data caused Austin mortgage rates to turn a little higher late this week. Upside surprises in important labor market, housing, and manufacturing reports were negative for the Austin mortgage market and positive for stocks.
Best bet for Austin mortgage borrowers is to lock in their interest rate
Best bet for Austin mortgage borrowers is to lock in their interest rate. It just makes cents (and dollars too). Expect the day to be one of “squaring up” for traders in both bonds and stocks, with not much movement seen from current levels.