treasuries

If there is a silver lining, you’ll find it in low Austin mortgage rates today, tomorrow, and well into the 3rd quarter

Overall, the report does nothing to instill confidence in economic growth. Matter of fact, it’s started a new group of traders and investors fanning the fires of a double dip recession. Bill Gross is now calling for unemployment to go over 10% in the coming months. If there is a silver lining, you’ll find it in low Austin mortgage rates today, tomorrow, and well into the 3rd quarter.

June 4, 2010|Austin Mortgage Market|

USDA UPDATE: In a nut shell, the USDA program is out of money (except for disaster funds in a few areas)

USDA UPDATE: In a nut shell, the USDA program is out of money (except for disaster funds in a few areas). The Senate now has three competing bills so the work out process has begun. Nothing scheduled on the Senate floor so this could take some time. USDA issued guidance stating that they would issue condition commitments so we could proceed with the loan process but not close until the program was funded. USDA has now pulled that guidance to issue conditional commitments. As you can see, this is a mess. Investors such as Chase, etc. will not take locks unless you have a conditional commitment or are in a county that has adequate disaster funds available as they see this as hedging a “phantom” pipeline.

May 18, 2010|Austin Mortgage Market|

Latest news regarding the Euro zone’s debt crisis was again good news

The latest news regarding the Euro zone’s debt crisis was again good news. Spain announced sharp austerity programs to cut its budget deficits and the EU aims to seek further power over member country budgets. In a nutshell, the news added more of a boost to global stocks after opening higher.

May 12, 2010|Austin Mortgage Market|

Today’s early trade pushed treasuries to higher yields and worsened mortgage pricing, but only slightly

oday’s early trade pushed treasuries to higher yields and worsened mortgage pricing, but only slightly. That occurred on a flat to slightly higher open for the Dow. Currently, the big board is off 68 points as sellers are still looking for any strength to get out. Reasons being that as Greece is on the edge of the cliff, global slowing will occur or even worse, a default in the Euro zone that could really put a pinch on global credit and stock earnings.

May 6, 2010|Austin Mortgage Market|

Greece is the word

When something happens to change the dynamics of the Euro fiasco, we will see a reversal of fortune in mortgage pricing. The economic fundaments of our country just don’t support lower Austin mortgage rates.

May 5, 2010|Austin Mortgage Market|

Just when Goldman looked to be on the ropes, they reported earnings that blew away the street

Just when Goldman looked to be on the ropes, they reported earnings that blew away the street. $5.59 versus analysts expectations of $4.01 is not a bad quarter. Apple and Yahoo will release today after the close. Wait until you see Apple’s numbers.

April 20, 2010|Austin Mortgage Market|

SEC has charged Goldman Sachs with fraud on subprime loans

In breaking news, the SEC has charged Goldman Sachs with fraud on subprime loans. John Paulson (Paulson and Co.) seems to have been in the mix as well, selecting specific subprime securities and then shorting (betting against the security) with CDO’s through credit default swaps. It’s complicated and not a good situation for Paulson and Goldman. By the way, their stock is off $23.00 while the Dow is off over $100.00.

April 16, 2010|Austin Mortgage Market|

For the market to do better (Austin mortgage pricing improvement), we need to breach and close above 116 10 (below 3.83% yield)

Currently, we’re right up against the top of the range (116 10 in futures and 3.83% 10 year note yield). For the market to do better (Austin mortgage pricing improvement), we need to breach and close above 116 10 (below 3.83% yield).

April 12, 2010|Austin Mortgage Market|

Given all the possibilities and potential market moving data, best bet is to use the float down and lock your Austin mortgage rates

We still feel that valuations are in nose bleed territory and if they roll over, a 10% correction could be in the cards. That would help mortgage pricing as well. Given all the possibilities and potential market moving data, best bet is to use the float down and lock your Austin mortgage rates.

March 30, 2010|Austin Mortgage Market|

Best advice is to use any rally to lock your interest rate in!

With so many variables to consider - employment, sovereign debt, political rang lings’, and on and on - managing interest rate risk and helping our borrowers with their decisions on Austin mortgage rates is very hard to handicap. Best advice is to use any rally to lock your interest rate in!

March 12, 2010|Austin Mortgage Market|

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