The economic environment for Austin mortgage rates was little changed this week. Weaker than expected economic data and continued low inflation supported low Austin mortgage rates, and investor demand for bonds remained high. As a result, Austin mortgage rates again ended the week a little lower.
Treasury Secretary Geithner is medium rare as the House Oversight Committee is grilling him on AIG. Undisclosed documents, backroom deals, maybe a cover up coordinated with Sir Bernanke, and the counter parties all paid off at par (by the taxpayers) are the hot topics.
Our view that risk is back in vogue, noting gold at record highs and stocks up 60%. Systemic risk/asset bubble risk is creeping back into the market as investors are forced into stocks and fixed income spread product. The Fed is on hold for at least another year and they (Fed) will need to see GDP growth of 4% to 5% before they will tap on the brakes (raise interest rates). We’d look for Austin mortgage rates to stay low well into 2010.
Keep one eye on stocks (now up 54 on the big board) as mortgage pricing sits on the other side of the teeter totter
Corporate earning woes continue on Wall Street today with Caterpillar [...]
We’ll stick to our story that the worse in over with mortgage rates rising, pricing worsening since a week ago Wednesday so a little improvement should be in order
Weekly Unemployment Claims hit the tape plus 8K to 652K [...]
This type of market will typically tread water until better info becomes available, forming a trending market
Both stocks and bonds have been a little sloppy today, [...]
Meant to post this yesterday.... Doom and gloom as grabbed [...]
Yesterday, Mortgage Backed Securities closed up 24/32s. Stocks had a [...]
Best bet is to take the money and run (good pricing), at least for February and early March mortgages
Treasury Secretary Geithner announced his Financial Stability Program of 500 [...]
Good time to take advantage of the rally as god knows what those on the Hill will do to us as the day moves on
Markets are locked and loaded with the: Treasury Secretary Geithner’s [...]