DAILY MORTGAGE RATE UPDATE 07-20-18

Mortgage Rates are slightly lower while Stocks trade near unchanged with quiet activity, typical for a summer Friday.

There were no economic reports due for release today. Ellie Mae reports that it saw a further uptick in purchase loan closings in June and a dip in refinancing.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term, floating is recommended.

The purpose of art is washing the dust of daily life off our souls.

-Pablo Picasso

DAILY MORTGAGE RATE UPDATE 07-19-18

Mortgage Rates continue to be trapped in a sideways pattern with no clear signs of a push higher.

Freddie Mac reports that home loan rates were essentially unchanged in the latest week and remain at historically attractive levels.

I will continue to recommend locking in the short-term, 30-days or less until closing. Longer-term, floating is prudent.

The beginning is always today.

-Mary Wollstonecraft Shelly

 

DAILY MORTGAGE RATE UPDATE 07-18-18

The sideways trading pattern continues for Mortgage Rates this morning, unable to produce any gains.

In housing news, June Housing Starts plunged from May as builders cite a lack of available land to build on, rising lumber costs and a shortage of workers for the decline.

The Mortgage Bankers Association reports that home loan rates were essentially unchanged in the latest week and remain historically low.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term, floating is prudent.

Don’t judge each day by the harvest you reap but by the seeds that you plant. 

-Robert Louis Stevensen

 

DAILY MORTGAGE RATE UPDATE 07-17-18

Mortgage Rates are near unchanged as they continue to churn just below resistance with no clear catalyst to push prices higher.

The markets await testimony by Fed Chair Powell this morning beginning at 10:00 a.m. ET. Mr. Powell will be speaking on the current state of the U.S. economy on Capitol Hill in front of the Senate Banking Committee.

I don’t expect much surprise within the prepared testimony, but you never know what can be said in the Q&A session.

I will continue to recommend locking in the short-term, 30-days or less until closing. Longer-term, floating is prudent.

Life consists not in holding the good cards but in playing those you hold well.

-Josh Billings

 

DAILY MORTGAGE RATE UPDATE 07-16-18

Mortgage Rates are lower to begin the week being pressured by several strong economic reports from Retail Sales and the manufacturing sector.

The July 2018 NABE (National Association for Business Economics) Business Conditions Survey indicates strong sales and steady profit margins in the second quarter of 2018, as well as increasing materials costs and wages.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term floating is prudent.

Everyone thinks of changing the world, but no one thinks of changing himself.
-Leo Tolstoy

 

DAILY MORTGAGE RATE UPDATE 07-13-18

As the week comes to an end, Stocks and Rates are near unchanged as the dog days of a summer Friday set in.

Home loan rates were reported unchanged this week and remain at historically attractive levels.

I am recommending locking in the short-term, 30-days until closing. Longer-term, floating is recommended.

Have a great weekend!

I say luck is when an opportunity comes along and you’re prepared for it.

-Denzel Washington

DAILY MORTGAGE RATE UPDATE 07-12-18

Higher Stock prices are weighing on Mortgage Rates, which remain trapped in a sideways-to-lower pattern beneath tough resistance.

In economic news, higher annual consumer inflation was reported in June, which is also putting downward pressure on Rates.

Freddie Mac reports that home loan rates were essentially unchanged this week and remain historically low.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term floating is prudent.

Spread love everywhere you go.

-Mother Teresa

DAILY MORTGAGE RATE UPDATE 07-11-18

Despite losses in Stocks to start the day, Rates are flat due to hotter-than-expected wholesale inflation.

The Mortgage Bankers Association reports that home loan rates edged lower in the latest week and remain historically attractive.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term, you can try to float.

Without hard work and discipline it is difficult to be a top professional.

-Jahangir Khan

 

DAILY MORTGAGE RATE UPDATE 07-10-18

Mortgage Rates are slightly lower pressured by added Bond supply and higher Stocks.

There are no major economic reports due for release today.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term, floating is prudent.

Let the beauty of what you love be what you do.

-Rumi

DAILY MORTGAGE RATE UPDATE 07-09-18

Mortgage Rates begin the week lower pressured by rising Stocks, added Bond supply, quarterly corporate earnings kick-off and technical factors.

There were no economic reports released today.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term floating is prudent.

Self-belief and hard work will always earn you success.

-Virat Kohli