wall street

Austin Mortgage Market Update – For the week of October 4, 2010

Last week's housing market data centered on Standard & Poor's S&P/Case-Shiller Home Price Index. This showed home prices UP in July for the fourth month in a row, but the pace of their gain had slowed from prior months. With the expiration of the government's home buyer tax incentives, some observers wonder if the S&P/Case-Shiller will keep moving up. The composite 20-city index, a broad measure of U.S. home prices, showed a 3.2% increase year over year, the sixth month in a row it posted an annual gain.

October 4, 2010|Inside Lending Newsletter|

Price action post auction has not done anything to help Austin mortgage pricing

Price action post auction has not done anything to help Austin mortgage pricing. Sell side orders are still on the heavy side with MBS still off 15/32’s. As I mentioned earlier, we don’t see this as a major trend change or a sentiment shift towards the bears.

August 12, 2010|Austin Mortgage Market|

Time to get a little more defensive on the market

Although volume remains light, bond bulls seem to be losing their swagger. Time to get a little more defensive on the market.

July 13, 2010|Austin Mortgage Market|

Austin Mortgage Market Update – For the week of June 14, 2010

The Mortgage Bankers Association reported demand for purchase mortgages was down 5.7% last week from the week before. Analysts felt the decline showed that the federal tax credits ending in April took away from future sales.

June 14, 2010|Inside Lending Newsletter|

42 billion of 5 year notes hit the screen to yield 2.54% with 49% going to the Indirect bidders

42 billion of 5 year notes hit the screen to yield 2.54% with 49% going to the Indirect bid. Direct bidders (Wall Street) took 14% with a bid to cover of 2.75 to 1 (average is 2.69%). Good news is that the yield came in on the screws (no tail), bid to cover was above average, and Indirect buyers were strong. Not so good news is that the “street” stayed away. We’ll give it a B.

April 28, 2010|Austin Mortgage Market|

Daily oscillators are still posting positive readings and holding above midrange levels – all good things for those that want lower mortgages/better pricing

On the bright side, daily oscillators are still posting positive readings and holding above midrange levels. All good things for those that want lower mortgages/better pricing.

January 26, 2010|Austin Mortgage Market|

What is catching trader’s eyes this morning is China and their latest release of GDP

What is catching trader’s eyes this morning is China and their latest release of GDP. The plus 10.7% has the Dragon breathing fire and Wall Street worried about overheating.

January 21, 2010|Austin Mortgage Market|

From our view, employment is still our economic priority and not going anywhere fast

The market was looking for a better number, given high hopes of a better holiday season. We see the negative December reading as unsettling, reflecting a consumer that has started to spend but at a snail’s pace.

January 14, 2010|Austin Mortgage Market|