Best bet for Austin mortgage borrowers: don’t take historic low Austin mortgage rates for granted
Currently, the best bet for Austin mortgage borrowers: don’t take historic low Austin mortgage rates for granted.
Austin mortgage rates ended the week nearly unchanged
Although daily volatility was high this week, Austin mortgage rates ended the week nearly unchanged. A steady stream of economic news was roughly neutral for Austin mortgage rates, as stronger than expected economic data was offset by solid demand for the week's Treasury auctions.
Austin Mortgage Rates Lower After Strong Auction Demand
Although this week's economic data was generally stronger than expected, it was overshadowed by solid demand for the Treasury auctions and intensified concerns about the economic situation in Greece, which helped mortgage markets. After reaching the highest levels since August, mortgage rates ended a little lower than where they ended last week.
Fed To End MBS Purchase Program
The Fed statement essentially followed the expected script, demand was strong for the Treasury auctions, and much of the economic data released during the week was stronger than expected. The net effect was a small increase in mortgage rates during the week.
Low Inflation and Strong Auctions
While Austin mortgage rates climbed in December, they have decreased during the first two weeks of January. A combination of factors was favorable for mortgage markets this week. Low inflation, weaker than expected economic growth data, and strong demand for the Treasury auctions all helped Austin mortgage rates move a little lower.
Home Sales Surge
A combination of factors helped Austin mortgage rates improve yet again during the short Thanksgiving week. Strong demand for the Treasury auctions, low inflation, and a fragile economy were all positive for mortgage markets. As a result, mortgage rates dropped to the lowest levels since January.
We see the trade as continuing to be range bound
Technically, the weakness overnight traded to the low end of the range before boot strapping itself up this morning. We see the trade as continuing to be range bound, bracketed by 3.52% on the high yield side (10 year note) and 3.42% on the low side. Any move outside of these parameters will move the market for at least 1 point and a good ½ point in Austin mortgage pricing. Month end supply (112 billion) and a spooky FOMC policy statement sideswipe tilt our bias.
Austin Mortgage Rates Move Lower
Tame inflation data, strong demand for the Treasury auctions, and [...]
Auction Results Push Austin Mortgage Rates Lower
Mortgage investors were more focused on this week's Treasury auctions [...]
Given the cross currents, the market look likely to balance both economic and humanitarian issues, allowing mortgage pricing to hold steady or improve just a little
Just when you think you’ve got the list covered: Tarp, [...]