Mortgage Rates continue to be trapped just below key technical levels, pressured lower by rising Stock prices. In July, the July NFIB Small Business Optimism Index hit is second highest level in the survey’s 45-year history while owners anticipate more sales and even better business conditions ahead. I continue to recommend locking files that are […]
Mortgage rates begin the week near unchanged as global markets focus on the negative headlines out of Turkey. There were no economic reports due for release today, but the rest of the week’s calendar is full of key data points. I am recommending locking in the short-term, 30-days or less until closing. Longer-term, float, but […]
Geopolitical turmoil out of Turkey is pushing global Bond yields lower while U.S. consumer inflation remained tame in July. Mortgage Rates are higher while U.S. Stocks are plunging on the headlines. Housing affordability hits weakest level in a decade due in part to rising home prices and mortgage rates, reports the National Association of Home […]
Tame inflation here and in China along with weak economic data out of Japan are giving Rates a modest boost higher this morning. In housing news, the National Association of REALTORS reports that median home prices hit an all-time high in the second quarter of 2018. Freddie Mac says mortgage rates were essentially unchanged in […]
Mortgage Rates begin the day near unchanged in the absence of any economic reports and ahead of added supply from today’s key 10-year Note auction. The Mortgage Bankers Association reports that home loan rates were unchanged in the latest week and remain historically low. Despite lower Stock prices today, Mortgage Rates have been unable to […]
Mortgage Rates are slightly lower weighed down by rising Stocks and the anticipation of this week’s Treasury auctions. In housing news, Corelogic reports that home price gains remained solid year over year in June. I am recommending floating but be aware that risks to the downside remain for the markets with possibly slightly higher home […]
Monday is starting off quiet with Mortgage Rates near unchanged after last week’s news induced roller coaster ride. There are no economic reports due for release today and the rest of the week’s calendar is extremely light. I am recommending floating to begin the week but be aware that risks to the downside remain, so […]
The July Jobs Report was reported this morning showing that the labor market continues to produce solid growth. The week ends with home loan rates edging higher in the latest survey, though they remain historically attractive. After the risk-event filled week, I am recommending floating heading into the weekend. Ability is what you are capable […]
Mortgage Rates are flat ahead of tomorrow’s Jobs Report for July, which could offer up some heightened volatility. In labor market news, out placing firm Challenger Gray & Christmas reports that U.S.-based employers announced plans to cut less workers in July than June. Weekly Initial Jobless Claims continue to hover near lows seen in the […]
It’s Fed Day! The Fed meeting ends this afternoon with the 2:00 p.m. ET release of its monetary policy statement. ADP Private Payrolls rose more than expected in July and is weighing on Rates. The Mortgage Bankers Association reports that home loan rates edged higher in the latest week though they remain historically low. I […]
